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 Bursa Traders Thread V2, waaa! V2 d !

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Kcee
post May 27 2013, 09:56 AM

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QUOTE(ciahcra @ May 27 2013, 09:45 AM)
Very quite now this thread..... sad.gif

Anyway, some charts for this week:

MUHIBAH weekly chart

user posted image
MUHIBAH weekly

MUHIBAH daily chart

user posted image
MUHIBAH daily

Anyone wants to comment on this counter?
*
Hi Ciahra,

Thanks for sharing. For this counter, the stochastics is overbought though the 'flag' or 'wedge' looked nice.
By sharing this counter, can I assume that the candlesticks pattern and trendline have more importance than the
readings by stochastics? Of course, overbought doesn't mean it will go down soon, but I'm quite wary of entering or
opening position on overbought condition. Erm, did I asked the right questions?
Kcee
post May 27 2013, 10:33 AM

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QUOTE(ciahcra @ May 27 2013, 10:13 AM)
If you refer to the price before break out of the 'wedge' i.e. around 1.10

Stochastic was at oversold area....

user posted image
MUHIBAH daily

In trending market, indicators like stoch, RSI etc. tend to stay in a OB/OS area for quite a long time....

But anyway, candlesticks / chart patterns with VISIBLE Supports and Resistance (Fixed and Dynamic) always be my priority. If the price was at the place WHERE I want to take action (as determined by my VISIBLE SnR), then I'll check for another evidence (Invisible SnR like fibo....).

My trigger will be candlesticks (bullish pattern for Long, bearish for Short)

Then only I check my stoch for further confirmation.....

As in the charts above, there was a hidden divergence btw the price and the stoch, where stoch coming back to oversold area at 1.10, but price is actually higher than the last time stoch in oversold area.....with trendline, fibo 50% as a support, hammer like candlesticks, with 'wedge' pattern, with a very low vol, and stoch was at oversold area, all met my requirement already to buy.....
*
May I know what do you mean by 'Dynamic SnR'? Fixed Visible and Invisible SnR, I understand (though not good), but Dynamic? I think I need to
strengthen my SnR. I always use MMA as support only.
Kcee
post May 27 2013, 10:40 AM

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Multiple Moving Averages by Daryll Guppy. I kinda like his method. Simple for trend following.
But of course, profitable or not ......
Kcee
post May 27 2013, 11:00 AM

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QUOTE(ciahcra @ May 27 2013, 10:47 AM)
To know it's profitable or not, you backtest whatever system you like to use....

Personally, there are no holy grail for trading. It all comes down to your own system, how you manage your trade. WHERE do you want to enter the trade? WHEN do you want to enter? How much you willing to risk? How much profits would you expect, given the risk taken?

I kept trading journal to find out which methods give me the best winning rates.....and stick to it.
*
Can you give more details on this 'back test', please? At least based on your experience. I've invested in
Metastock software to learn a things or two. Did try to backtest using the software, but the period of backtest,
will bring different results. I mean, during downtrend, naturally my method don't work. I don't short as I've limited capital.
During uptrend, I guess who need TA during the crazy bull run a few weeks ago. Just 'tikam' and you 'kena' doh.gif I'm quite sceptical about SnR
as well, because for I'm no expert, I noticed those that are expert will play around with SnR to shakeout the weak players.
Usually I do set certain threshold for my cut loss and if the chart don't look nice by going down cutting through the Multiple
Moving Averages, I'm out.

Not sure of your opinion but just my reading my post, I'm definitely a novice in this field.
Kcee
post May 27 2013, 11:05 AM

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QUOTE(ciahcra @ May 27 2013, 10:47 AM)
To know it's profitable or not, you backtest whatever system you like to use....

Personally, there are no holy grail for trading. It all comes down to your own system, how you manage your trade. WHERE do you want to enter the trade? WHEN do you want to enter? How much you willing to risk? How much profits would you expect, given the risk taken?

I kept trading journal to find out which methods give me the best winning rates.....and stick to it.
Anyway, here's MUHIBAH with MMA (I hope I select the correct indicator laugh.gif)

user posted image
MUHIBAH daily

What's your strategy?
*
My strategy after my eyeball scanning would be, to enter when there's a rebound from the Long Term MA. But
the three black candles, RSI and Stoch readings pointing downwards as shown in my End of Day data seems
to tell me the chart is not bullish. Hence, I did not select this stock.

I hope to publish my chart too, but not well verse in the uploading of image. Need to open other account and .....

This post has been edited by Kcee: May 27 2013, 11:06 AM
Kcee
post May 27 2013, 11:10 AM

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This morning I entered Eastland because:
1)The short term MMA seems to be separating from the long term MMA
2)RSI and Stoch readings not overbought. Seems to be going up.
3)Chart seems to be making higher low and higher high though very slow.
4)MACD histogram seems to be turning positive soon.


And most of the times, I only entered at a higher price because it's a sign of strength. Though
seeing it going down after purchasing is....erm.....

Any comments?

This post has been edited by Kcee: May 27 2013, 11:13 AM
Kcee
post May 27 2013, 11:52 AM

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QUOTE(ciahcra @ May 27 2013, 11:43 AM)
user posted image
EASTLND daily

And if it doesn't goes up, where do you plan to exit? and if the price still doesn't shoot up, how long you plan to hold on this counter? you need to define all that before you enter the trade. Unless this is an undervalue stock, and you tend to buy and hold, then timeframe doesn't really matter I guess.

Anyway, for Malaysia stocks market, VOLUME is one of the most important element to me.

Average daily vol for this counter is about 200k to 250k a day? how much you expect to buy? for trading purpose, you need higher vol to make it easy for you to get out. I don't know about this counter anyway, so maybe in the next 2-3 days the vol will spike....
*
Erm, my plan is the holding period of 1 week to 1 month.
Yes, volume is important. I agree. But when volume is peaking, I assume
the smart money is getting out either. The last I profit from small cap counters
are counters like KOMARK and HYTEX using this method.

I 'cabut' after 10-20% profit and bought roughly like same time like this counter.
When it's rather quiet. The counters continued to climb actually but I can only
console my self by saying 'Don't be greedy' rclxub.gif

Oh, and because the last few weeks are times of 'crazy bulls', naturally, I don't think
it's my analysis that helped me. 'The bull' did doh.gif

This post has been edited by Kcee: May 27 2013, 12:08 PM
Kcee
post May 29 2013, 09:46 AM

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QUOTE(ciahcra @ May 29 2013, 01:35 AM)
PENERGY
» Click to show Spoiler - click again to hide... «


Breaking out the flag could see further interest to push the price higher?  hmm.gif
*
I must say, the 'flag' looks like profitable, most of the time?
Kcee
post May 29 2013, 09:59 AM

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QUOTE(ciahcra @ May 29 2013, 09:53 AM)
One of the most reliable pattern.....

particularly if the pole is high vol, and the flag is low vol....plus the price rebounded at any fibo level above above 50% of the swing that formed the pole....
*
Ciahra, based on your posting, you do have a pre-defined pool of stocks
that you want to trade, is it? You mentioned Fundamental Analysis before,
so meaning that you only trade stocks that have fundamental?
Penny and small cap stocks are out of your radar or pool of stocks?
I was thinking like, Technical Analysis should work on any stocks
if we got the right move. Not me with the right move, of course laugh.gif
Kcee
post May 29 2013, 10:52 AM

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Anybody here have opinions or knowledge about Heikin Ashi Chart in helping our trades?
And will corrections ever come to our market? Seems like it's 'bulls' all the way.

This post has been edited by Kcee: May 29 2013, 10:57 AM
Kcee
post May 29 2013, 11:06 AM

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QUOTE(ciahcra @ May 29 2013, 11:02 AM)
The gap wasn't even close as of today.....if there is correction maybe it will just close the gap. when? i dont know tongue.gif

anyway, if look carefully at WASEONG, it seems like a flag to me.....  hmm.gif
*
And i'm holding my guns from opening more trades just because of the gap doh.gif
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