Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Alsi Futures 28Oct10

Reply
HateGauteng
Super Contributor
In all fairness, I havn't provided my full mindset in that little paragraph up top. (I can take the time to write up the full HG Aggro Bear strategy if you promise not to delete it - coz it will outright destroy all the believers on this forum. It might be off use to long term investors as well most likey as discouragement.). Using the bigger picture (in this case only a few months of it for the potential double top) helps me limit my losses to 100% rather than several hundred percent as a derivatives trader. It boils down to the potential loss due to a black swan event and I don't see no 20-35% up days comming along.
0 Kudos
SimonPB
Valued Contributor
sure .. but short version is you believe in the end of the world .. fair anough, but will it happen in the next hour, or week or month ??? because that's what you need .. an if you have studied any history yyouu know that firstly it takes a long time for worlds to end .. and secondly it'll happen when it wants to, not when you need it to ..

so a end of the world strategy needs to take the long time frame into account, alsi futures do not enable this ..
0 Kudos
SimonPB
Valued Contributor
an right now ther market is saying .. I see your end of the world and raise you 100 points in 20 minutes ..
0 Kudos
saash
Super Contributor
I also quite like the idea of an ALSI Trading group for these threads. HG - I think yesterdays trading broke the up-trend, and that this bounce might be an exit opportunity for longs, and an entry opportunity for those looking to short. Either that or it'll rally higher .... You were short yesterday? Have you closed the short now and gone long? Careful of knee-jerk trading, you gonna fold that way. OMO
0 Kudos
HateGauteng
Super Contributor
Still short but dammit my yesterdays exit got hit just now - really steamed. P.S. Which graph did you want, the Alsi TA or the 10year H&S? Both are available on the site but only if you're allowed Java. Otherwise, I can send you the stuff.
0 Kudos
HateGauteng
Super Contributor
Just imagine if trading gets suspended now (preferably after this post) under suspicious circumstances and opens on Monday 30% down. Can your portfolio or current trade handle it.
0 Kudos
asylum
Super Contributor
if your trading intraday you dont need to look what happend 10 years ago, look back at the weekly chart see where current trend is, open daily and look at the previous close, put pivot points on chart see where market opens in relation to pivots, thsi will give a general direction of the market, wait for it to hit S/R, see what price action is doing around those areas, (stalling, breakout and so on) and then take your trade, but patience is required. Taking a long or short position in the middle of nowhere in the chart then you have no direction to aim for. omo
0 Kudos
asylum
Super Contributor
just to add i like to use the STC to spot divergence which i find quite reliable using the 4h chart, if i see divergence in the market i wait for a confirmation signal on the 15m chart and take action.
0 Kudos
SimonPB
Valued Contributor
yes my portfolio can .. but if that's your strategy - you are 'game over' ..
0 Kudos
HateGauteng
Super Contributor
US weekly jobless claims fall 21000 but a mediocre response on the market when this was released 15 mins ago. There's normally a spike or gap. This time nothing.
0 Kudos
kwagga
Super Contributor
Pity Chartist is not here to groom you a little bit like he did with John. Must say John, you took Chartist criticism very well and learned from it. There was a time when you could do nothing right. I actually felt sorry for you there for a while.
0 Kudos
john_1
Super Contributor
LOL that when I learned that right and profitable were seperate...HG you are tading like a chop, you lost your money the first time trading like a chop.... the definition of insanity..doing the same thing and expecting a different outcome...we thank you for your contributions to our profits.
0 Kudos
saash
Super Contributor
And now u sound just like chartist :)
0 Kudos
HateGauteng
Super Contributor
0 Kudos
Not applicable
OK, tried to read all these posts, and can honestly say I have not seen one actual system here. Read John's post - he is bang on. HG, if you did not know about risk vs reward, then you have missed out on probably one of the most basic and fundamental aspects of trading, IMO.
0 Kudos
asylum
Super Contributor
well skaap R/R and money managemant goes without saying, if you dont apply them you should not be trading!!
0 Kudos
HateGauteng
Super Contributor
Thinking back: the last time I missed a well thought out exit I caught fat finger.
0 Kudos
Not applicable
Skaap nobody was spes.his system.Only making points that HG or anybody could use in order to set up a system.Rather give your points than critisize.
0 Kudos
HateGauteng
Super Contributor
Alternative: A green close could possibly trigger a Lazy long but confirmation would be a green close tomorrow.
0 Kudos
HateGauteng
Super Contributor
16:30 - Looks like lazy long has triggered!
0 Kudos