Stock Trading: reg stocks, ETFs, Indexes, etcs - buying, selling, discussion

**mooncake** · 14-10-2009, 04:21 AM

Originally Posted by Spin

Originally Posted by mooncake

anything else more specific ....less than $20/share?

DRYS , Dryships, just got upgraded today and it gapped above 7.10 resistance.

Any pullback in the morning to that level could be worth a trade as the chart looks nicely set up for a run higher. I'm holding this one long term from 4$.

hmm...I don't think DRYS will go anywhere too fast too soon here - in a short term that is.
Not until they make at least one more dip first. That's what my chart is telling me anyway. So will be watching the short term technical closely.
However the longterm trend is very good.

Good find tho, you are quite good in techincals reading.
I'm strictly a technical trader, but not a daytrader..as I have a real job in which I also love doing.
What about you?

**mooncake** · 14-10-2009, 04:24 AM

Originally Posted by Spin

Originally Posted by mooncake

at least $30 coming up?

nooooo

Its broken out after hours above the 20.65 resistance level and spiked up to hit more resistance at 21.75$

hee hee....I didn't mean TOMORROW, or next week!!

But in a few months (3-4?) that is

**Spin** · 14-10-2009, 04:50 AM

Originally Posted by mooncake

I'm strictly a technical trader, but not a daytrader. What about you?

Something similar along those lines, I use technical's to find trades, if a single day is all it takes to make some coin then I'll sell the same day. I don't mind being labelled as a daytrader, as you know a good trader can read a chart and see a 20% move up and he has made in a few minutes what everybody else waits 6 months for. I follow John C Lee (weeklyta , on twitter) and learn as i go along. That guys up about 400% ytd.

Originally Posted by mooncake

hee hee....I didn't mean TOMORROW, or next week!! But in a few months (3-4?) that is

I reckon theres significant resistance at 21.75, looking back on a 5 year chart. See it?

In three 3 or 4 months time it could still be below that level.

Originally Posted by mooncake

POT......is still on a downward trend

Pot broke out of its downtrend from the 240$ highs in May, no?

Basically, POT, MOS, AGU, IPI are all zombies right now. The will remain that way until at least Q1 2010 for a whole variety of reasons such as the US changing the ethanol mandate, the collapse in pricing of their products, the collapse of grain prices (which just recently broke their downtrend here, farmers holding back on orders, huge inventories sitting unsold in storage, perfect summer crops in the USA this summer.

The list is endless....but the ag story is fundementaly a strong one, too many people in the world with more disposable income to make themselves obese with

**Spin** · 14-10-2009, 04:55 AM

Bye the way, Mooncake, where are you? In thailand? and a Thai national? trading US stocks?

And female?

**mooncake** · 14-10-2009, 06:27 AM

yeah...last time I checked my passport....all of it above

and
Don't tell me, Ann is out... and Am is in now?

**mooncake** · 14-10-2009, 07:00 AM

Originally Posted by Spin

Originally Posted by mooncake

I'm strictly a technical trader, but not a daytrader. What about you?

Something similar along those lines, I use technical's to find trades, if a single day is all it takes to make some coin then I'll sell the same day. I don't mind being labelled as a daytrader, as you know a good trader can read a chart and see a 20% move up and he has made in a few minutes what everybody else waits 6 months for. I follow John C Lee (weeklyta , on twitter) and learn as i go along. That guys up about 400% ytd.

Nothing wrong with being a daytrader, as long as you're making money.
I think...the key here is to understand the basic fundamental of the movements and a good grip in chart reading (whatever the technical(s) that work for you).
My trading range is normally between a few weeks to up around 6 mos, OR until I see what might be the "big reversal". Small reversals in between the already confirmed uptrend don't bother me much.

I have been developing and improving my own methods of the technical reading, ever since my US-university years while I was in the forcasting classes. Still learning and trying to perfect the methods tho.
NO.. my success rate is nowhere near 400% LOL

,.. but more like 75-85% success rate. It has been quite consistant since the uni-years.

I agree, to become a good trader or even a good investor, ....you have to be able to read a chart, at least those general basic ones.

Originally Posted by Spin

Pot broke out of its downtrend from the 240$ highs in May, no?

hmm I see that..........the end of May yeah?

hey what do you think of my BurgerKing?....just bought it yesterday

**the dogcatcher** · 14-10-2009, 07:11 AM

Eat it or sell it whilst it's still worth something.

**the dogcatcher** · 14-10-2009, 07:13 AM

And yeah, nothing wrong with day trading. It's a good living here, would'nt like it much in the UK though. 100 pips a day is ok.

**mooncake** · 14-10-2009, 07:16 AM

^
and how is your track record and portfolio coming along, DC?

Are you doing it all by yourself?

**the dogcatcher** · 14-10-2009, 07:20 AM

Originally Posted by mooncake

^
and how is your track record and portfolio coming along, DC?

Are you doing it all by yourself?

Day trade. No have portfolio. Trade GBPUSD mainly. 6am to 12 noon only. Strictly by the charts MACD, RSI, smooth stochastics and simple MAs. Might get into long term but at the moment happy with this.

**mooncake** · 14-10-2009, 07:25 AM

So what is your success rate....percentage wise?

I'm thinking ...doing the same as you, forex.
That is... if I can get at least $10,000 from my mom for the initial opening acct

still bugging...

**Muadib** · 14-10-2009, 07:30 AM

You can open a forex mini account for little or nothing, then let it build as you trade... Get a good charting tool and wait for the setups...

**mooncake** · 14-10-2009, 07:42 AM

^ Which company is the best...or a few you can recommend?
There are so many outhere!

**the dogcatcher** · 14-10-2009, 07:45 AM

Originally Posted by Muadib

You can open a forex mini account for little or nothing, then let it build as you trade... Get a good charting tool and wait for the setups...

Correct. Don't need 10 grand. 500 quid is enough. Ok will take a while to get some decent money but if you get it right most of the time you won't need a big initial amount.
Use an indicator that works for you, I've stated what I use. Smooth stoch to get me in, MACDs to keep me in and RSIs to get me out.

About 70 percent wins.

**the dogcatcher** · 14-10-2009, 07:47 AM

Originally Posted by mooncake

^ Which company is the best...or a few you can recommend?
There are so many outhere!

All have pros and cons. I can't remember but there's one offering no comissions on non profitable trades at the moment. Bet there's s catch though.

**the dogcatcher** · 14-10-2009, 07:50 AM

Some companies don't allow one cancels the other type trades. Avoid them if you don't want to nurse you positions all day.

**mooncake** · 14-10-2009, 07:50 AM

^ what setting are you using for your stoch, DC?

I use 5-3.......so far it works ok for me, even tho sometimes it's not that stable and too erratic!

**mooncake** · 14-10-2009, 07:53 AM

Originally Posted by the dogcatcher

About 70 percent wins.

with how much do you go in each time?

and which pair do you like the most?
or are you doing more than one pairs?

**the dogcatcher** · 14-10-2009, 07:53 AM

Originally Posted by mooncake

^ what setting are you using for your stoch, DC?

I use 5-3.......so far it works ok for me, even tho sometimes it's not that stable and too erratic!

Oh God, errm 14 5 3 smoothed. Might be erratic on longer time frame but ok for 1 to 4 hour deals

**the dogcatcher** · 14-10-2009, 07:58 AM

Originally Posted by mooncake

Originally Posted by the dogcatcher

About 70 percent wins.

with how much do you go in each time?

and which pair do you like the most?
or are you doing more than one pairs?

pound

Mainly GBPUSD. I have played with FTSE and GBPEUR but dollar suits me best.
Usually go in 1.00 a point stop loss at 50 depending on support levels. Limit 30 plus spread or depending on res levels

**mooncake** · 14-10-2009, 07:58 AM

oh god ....1-4 hrs?
I think I might have a heartattack and die in 3 days .....of IN and OUT that often!

**the dogcatcher** · 14-10-2009, 08:02 AM

What can I say. In and out that often. errm, you get used to it. You probably have very few poor trades let,s say. I have more losers than you but more small winners. It's like futures on ya bah.

**mooncake** · 14-10-2009, 08:03 AM

Originally Posted by the dogcatcher

Mainly GBPUSD. I have played with FTSE and GBPEUR but dollar suits me best.
Usually go in 1.00 a point stop loss at 50 depending on support levels. Limit 30 plus spread or depending on res levels

hmm....I'm sure I will understand all those terminologies what you're talking about here in....err 6 months time?

**Muadib** · 14-10-2009, 08:04 AM

There are many, many online forex brokers, so I won't recommend one... Look for a broker with tight spreads and has good reviews... Most will offer you a free demo account to get started trading forex...

There are many online forums with a lot of good information related to forex... I frequent Forex Factory as there is a large and active online membership...

**mooncake** · 14-10-2009, 08:11 AM

^ ok I will seriously be searching for one, once I'm a bit more serious.
but good to have some feedbacks on it tho

thxs ja
xoxo

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