Owner: Market Ninja URL:http://marketninja.blogspot.com/ Join Date: Wed, 17 Jan 2007 16:15:36 -0600 Rating:0 Site Description: Investing, Forex, Trading, Finance, Stocks, ASX, Moving Averages, Scanning Site statistics:Click here
Joining Trend 1970-01-01 00:59:59 I've been reading a candlestick trading book and when I reached the end I was extremely disappointed. The book discussed the full range of candlestick formations, and the psychology behind them but it didn't discuss how to trade the setups. No entry, exit or failure rules were defined.
After coming to this conclusion about the book, I realized this blog has missed an important step on how I Read more:Joining
QuoteTracker Review 1970-01-01 00:59:59 QuoteTracker is an extremely useful application if like me you sit at a computer all day and love watching price action. QuoteTracker interfaces with various data feeds, brokers and financial sites to provide you with real-time streaming data. Some of the feeds are delayed, but if you have a comsec or e-trade account you can put in your username and password and it will extract real-time data.
Compass Resources, CMR, 2007-01-08 1970-01-01 00:59:59 The ascending triangle pattern was broken today with a low of $5.35 reached.
This swing low was equal to the last swing braking the ascending trend line.
It is still interesting to se ehow this plays out. Read more:Compass
, Resources
Market Ninja 1970-01-01 00:59:59 First screenshot of the work in progress MarketNinja
.
The scanner, Market Ninja, is designed for me to easily download EOD data for the ASX and create scans to filter this data. There is still a lot of work to be done before it is ready to be released (freeware), but is currently in a usable state for my purpose.
The idea of the scanner is to load data into columns. This is currently
Money Management Calculator 1970-01-01 00:59:59 Managing risk is an important step to becoming a successful trader. To help manage risk we need to determine our entry price and stop price. Once these two values are known, we can determine before we enter a trade what risk we are willing to make.
To help calculate my positions, I use a free position size calculator. This calculator allows me to calculate the amount of shares I require to Read more:Money
, Management
, Calculator
First Post 1970-01-01 00:59:59 Market Ninja is a commentary of the development of my trading software, along with discussions about areas of trading, specifically technical analysis, to help the readers understand the aim of the software along with the techniques of trading I find important.
My strategy is simple and easy to follow, but it isn't mechanical and requires the trader to have a simple understanding of technical Read more:First
Important Reading 2007-01-05 1970-01-01 00:59:59 Kitco has an important article to read if you hold shares that participate in the copper market. Included is some interesting technical analysis. Read more:Reading
Stock Wrap Express Charts (SWEC) 1970-01-01 00:59:59 Created by Ayamae, Stock
Wrap ExpressCharts
(SWEC) is a free charting, scanning and portfolio solution suitable for most traders' requirements. The functionality provided is comprehensive compared to other solutions available on the internet. Ayamae are very pro-active with bugs and feature request and also maintain a wiki. They seem to understand that providing feedback, good and bad, is
Compass Resources, CMR 1970-01-01 00:59:59 Compass Resources
(CMR) is a favourite company of mine. I've been trading this for a while now and have been in and out a few times. Huntleys newsletters have been talking CMR up a lot lately, and investors are antcipating news of recent drill results and hopefully further confirmation of uranium supplies.
The current chart development is very encouraging forming an ascending triangle. Read more:Compass
Envirozel Limited, EVZ 1970-01-01 00:59:59 Envirozel Limited (EVZ) closed below our stop loss today of $0.385. Exit tomorrow.
Eastern Star, ESG 1970-01-01 00:59:59 Late seller closes ESG on our stop loss (0.275), but not below. We also had a intra-day low of 0.27.
Short term trend was broken today, long term still looks intact. If it looks bad tomorrow I'll be looking for an exit. Read more:Eastern
Eastern Star, ESG 1970-01-01 00:59:59 Entry opportunity provided today for aggressive traders with ESG falling below our stop loss and rebounding above. 0.285 available at of time of posting. This provides an opportunity with a close below 0.275 as our stop loss. Read more:Eastern
Chart Watch 2007-01-04 1970-01-01 00:59:59 Charter Hall (CHC)
This is the first post about CHC (close $2.25)
Count Back Line = $2.17
Easter Star Gas (ESG)
This is the first post about ESG (close $0.32)
Count Back Line = $0.275
Riversdale Min (RIV)
This is the first post about RIV (close $2.20)
Count Back Line = $2.07
Sunland Group (SDG)
This is the first post about SDG (close $3.66)
Count Back Line = $3.53 Read more:Chart
Chart Watch 2007-01-11 1970-01-01 00:59:59 Riversdale Mining Limited (RIV) closed below our set stop loss today. As part of our trading rules we should look to exit tomorrow.
Reconfirmation of the trend if the 3, 5, 8 EMA start to turn upwards over the next coulple of days. If you look close to the end of November this was the case.
Traders with positions should close as per our trading rules. Reconfirmation of trend can signal a Read more:Chart
Chart Watch 2007-01-14 1970-01-01 00:59:59 Alliance Resources (AGS)
Alliance Resources (AGS) is an excellent example of Guppy Trend Trading. From its initial breakout from around 30 cents, Alliance has provided only two exits signals using the count back line as exit ($0.75 and $1.69). The exit signal that occurred at $1.69 was when a JORC result was delayed, now due early 2007.
AGS has provided re-entry signals at $0.80 and now it Read more:Chart
Count Back Line 1970-01-01 00:59:59 The Count Back Line is a indicator I currently use as a stop loss for my trades. After using the Market Ninja software and finding a stock that fits the Guppy MMA indicator, I plot count back lines to my chart to see if this stock is a candidate to use this as a stop loss. Some stocks that fit the Guppy MMA are still too volatile for this trading strategy and I find that back fitting the count
Sunland Group, SDG 1970-01-01 00:59:59 Sunland Group
(SDG) closed below our stop loss of $3.53. The rules say exit so out we go tomorrow.
Guppy MMA 1970-01-01 00:59:59 Guppy MMA are extremely important to my trading style. For the past 6 months I have been trading using Daryl Guppy's 'Trend Trading' technique to trade the ASX. Multiple Moving Averages are important in this strategy to determine the trend of a stock.
Gupp MMA consist of 2 groups of EMA's. The first group know as the 'short term' group consist of 3, 5, 8, 10, 12 and 15 day EMA's. The
Mid January Review 1970-01-01 00:59:59 MarketNinja has been up and running for around half a month so far. I thought it would be a good time to discuss some of the opportunities I have alerted readers to, and the dismal performance so far. I was alays nervous of this when starting this blog, hopefully this will turn around.
Charter Hall (CHC)
Added $2.25, stop $2.17
Current $2.40, stop @2.23
Made a good move on the 12th but has Read more:January
Chart Watch 2007-01-21 1970-01-01 00:59:59 AUSTIN EXPLORATION LIMITED - AKK
A Bullish hammer occurred on the 12th, which has a low reliability. It requires confirmation of the implied trend reversal by a white candlestick, a large gap up or a higher close on the next trading day, which occurred on the 15th with a bullish engulfing candle.
As we can see on the chart we have clearly defined trend line, spread of the long term group and Read more:Chart
Chart Watch 2007-01-23 1970-01-01 00:59:59 Couple of good days with the ASX opportunities and we have some stops moving up based on our count back line.
AUSTIN EXPLORATION LIMITED - AKK
Closed at $1.015, up from $0.88 at recommendation. Count back line moved up to $0.85 from $0.79.
Industrea - IDL
Bounced nicely from the long term group, and stayed above out stop loss of $0.305. Current close at $0.325, but still below the Read more:Chart
AGLOCO 1970-01-01 00:59:59 Bit of a detour from trading but I thought I would blog about a chance to help build AGLOCO
- it is a Member-owned Internet community.
Here is why I would like you to help. First - it is free. Second - it is quick and easy to join. Third - AGLOCO's purpose is to get its members their share of the money generated on the Internet (i.e. you make money). And lastly - if you help build the AGLOCO
Eclipse Trader 1970-01-01 00:59:59 Eclipse Trader
is a free open-source charting platform available from http://eclipsetrader.sourceforge.net focused to the building of an online trading system. The standard Eclipse RCP plug-ins architecture allows third-party vendors to extend the functionality, providing developer's an opportunity to extend the functionality of the application. Like many open source projects, the range of
AUSTIN EXPLORATION LIMITED - AKK 1970-01-01 00:59:59 Well the bad run continues, AKK closing at $0.85 today below our stop loss of $0.89. The trend still looks strong, maintaining it's trend line.
Super Bowl XLI 1970-01-01 00:59:59 Well I'm going to be attending Super
Bowl XLI this year in Miami. Flight leaves tomorrow. I'm lucky enough to have a job that flies me to the USA every 3 months or so to work in stadiums and arena. Although I will be on-call during the game, most of the work is completed before hand so I'm hoping for a nice relaxing day watching one of the biggest sporting events.
I should be back in 3 weeks Read more:Super Bowl
, Super Bowl XLI
Landed in Miami 1970-01-01 00:59:59 Well I've landed in Miami
and unfortunately my luggage is still in Sydney. 8th trip in USA, 4th time my luggage didn't make it all the way with me. Hopefully it arrives tomorrow.
We had some good moves in some our opportunities.
Industrea - IDL
Closed at $0.335, with an intra-day high of $0.345 reached pass two days. Stop has been moved up to $0.31
Eastern Star - ESG
Closed at $0.335 with
Swing Setups 1970-01-01 00:59:59 I've been doing a lot of reading on swing trading, especially the blogs of Trader Mike and Taz Trader. Taz Trader's strategy really intrigued me especially about the area he calls the TAZ.
"The Traders Action Zone (TAZ) is a buy and sell zone on a chart that swing traders can use to identify possible reversals in a stock. This is just simply "area" that we look at to see if a stock that is in
Chart Watch 2007-02-04 1970-01-01 00:59:59 Bluglass Limited (BLG)
Has had a great run in January, moving up from a low of $0.39 to a high of $0.61. Has just finished its first pull back and looks to be returning to its uptrend.
Last Close $0.58 , Stop Loss $0.55
Conquest Miming Limited (CQT)
Good separation of the short and long term moving averages, looks to have swung back to $0.79 and returning to its trend.
Last Close $0.88, Read more:Chart
Chart Watch 2007-02-08 1970-01-01 00:59:59 Everest Babcock and Brown Alternative (EBI)
Good spread between the long and short term group. Count back line has not been broken since uptrend started. Volume may be a bit low, and we have a tight stop loss defined.
Last Close $4.75, Stop Loss $4.68. Read more:Chart
Cold Minnesota 1970-01-01 00:59:59 My whirlwind tour of USA continues and I'm blogging from freezing Minnesota
. Not my type of weather and looking forward to flying out on Sunday to Denver.
A lot of the ASX opportunities finished higher and Friday with IDL's stop moving higher.
Industrea - IDL
IDL reached an intra-day high of $0.35 closing at $0.345. Our stop has moved up from $0.31 to $0.325 based on the count back line.
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