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Online Share Trading

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Wino

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sponono
Super Contributor
it is now trading at the 30 day SMA, my kinda trade.
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11 REPLIES 11
Wino
Super Contributor
Early days yet. Note negative divergence on daily RSI. Will wait till it tests the R308 level.
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sponono
Super Contributor
I have a very simple rule: If a stocks hits an all time high and then corrects up to the 30 day SMA I buy it. I completely ignore the market or the RSI, my focus switches completely to the share price. This is what TBS has done and I simply obeyed my rule. My stop loss is there to protect me if I'm wrong
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Rams
Super Contributor
i use a similar sort of strategy for the ALSI futures..thats why i think your style of trading is suited to ALSI trading
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sponono
Super Contributor
my view is that the most importanatthing you must get right as a trader is to manage your risk. unfortunately the ALSI futures always throw my risk management out of control, I dont know why but it always does, so I stopped trading them. stock CFDs work better for me and I will leave the ALSI to you
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Russ
Super Contributor
I see support at 309 which it got to today.Hopefully it moves up from here.
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sponono
Super Contributor
Hope so for my own sake. My stop is at R308
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Preston
Super Contributor
What to trade is also important as risk management. Shares works best for me as well.
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sponono
Super Contributor
Awachithe lamanzi isibalekile len*****hu. Stopped out.
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Wino
Super Contributor
I normally wait for a fib50% re-trace from start of a major move. The shallower the re-trace the stronger should be the recovery. TBS now entering my sights. As soon as stoch pokes its head above the blue and their is no negative divergence on RSI and trend is still positive I will be taking a position. Ditto ABL but don't particularly enjoy those short sharp declines.
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sponono
Super Contributor
The break out point (what was resistance) was about R290. Thi should now serve as support. Might enter a probing long at that level
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Wino
Super Contributor
12 dipping past 26SMA =neg.short term trend. fib61.8% re-trace=293. Long term bull channel=277. If it goes past this then double bottom at 272 possible.In my experience, one announcement that effects the sector tends to muddle the technicals, but somewhere in the above range it will find support. Best to wait.
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