[malaguti]

Hi,
I was just wondering if this has broken out into stage 2a? It broke out from a long base on very good volume on the weekly chart so I assume this is a buy around current level?

Thank you for your comments.

Absolutely. certainly looks like a solid breakout into stage 2
looks good historically, has passed the ichi cloud and on high volume
well done
some levels you may want to look out for which could prove to be resistance I've marked

[marry123]

Hi,
I was just wondering if this has broken out into stage 2a? It broke out from a long base on very good volume on the weekly chart so I assume this is a buy around current level?

Thank you for your comments.

Absolutely. certainly looks like a solid breakout into stage 2
looks good historically, has passed the ichi cloud and on high volume
well done
some levels you may want to look out for which could prove to be resistance I've marked

Thank you Malaguti for your levels and other comments. Perhaps finally I have come across a proper entry on my own for once

[Boggers]

Hello all

I am still very new to this and I know the market is still pretty volatile, but I wanted to ask about entry points.

I am looking at shorter term trades atm and I have screens set up so that I can see when a share breaks on volume.

I seem to be missing a lot of entries because some stocks are moving fast and I'm not sure whether to come in or not because I'm not sure where to put a stop loss.

Today for instance while I was out, GMR.L Gaming Realms broke a new high and I received a notification. When I got home I had a look but it had already moved ~12%. It did pull back to ~8% at some point in the afternnon but I decided to wait until right at the end of trading to see if the price pulled back some more. Unfortunately at the end of trading it was up ~14%.

I guess what i am asking is where you would come in or would you leave to the following day and where would you put stops?

[malaguti]

Hello all

I am still very new to this and I know the market is still pretty volatile, but I wanted to ask about entry points.

I am looking at shorter term trades atm and I have screens set up so that I can see when a share breaks on volume.

I seem to be missing a lot of entries because some stocks are moving fast and I'm not sure whether to come in or not because I'm not sure where to put a stop loss.

Today for instance while I was out, GMR.L Gaming Realms broke a new high and I received a notification. When I got home I had a look but it had already moved ~12%. It did pull back to ~8% at some point in the afternnon but I decided to wait until right at the end of trading to see if the price pulled back some more. Unfortunately at the end of trading it was up ~14%.

I guess what i am asking is where you would come in or would you leave to the following day and where would you put stops?

Hi Boggers, where you place your stop is going to be very much dependent on your timeframe. so when you say shorter term, how shart are we talking about? obviously the book looks at the investor vs the trader so are you looking at the weekly still but leaning more toward the MA(10) rather than the 30?
or are you actually going shorter still than weekly..which is probably not advised until you have some experience of the method

[Boggers]

Hello all

I am still very new to this and I know the market is still pretty volatile, but I wanted to ask about entry points.

I am looking at shorter term trades atm and I have screens set up so that I can see when a share breaks on volume.

I seem to be missing a lot of entries because some stocks are moving fast and I'm not sure whether to come in or not because I'm not sure where to put a stop loss.

Today for instance while I was out, GMR.L Gaming Realms broke a new high and I received a notification. When I got home I had a look but it had already moved ~12%. It did pull back to ~8% at some point in the afternnon but I decided to wait until right at the end of trading to see if the price pulled back some more. Unfortunately at the end of trading it was up ~14%.

I guess what i am asking is where you would come in or would you leave to the following day and where would you put stops?

Hi Boggers, where you place your stop is going to be very much dependent on your timeframe. so when you say shorter term, how shart are we talking about? obviously the book looks at the investor vs the trader so are you looking at the weekly still but leaning more toward the MA(10) rather than the 30?
or are you actually going shorter still than weekly..which is probably not advised until you have some experience of the method

Hi Malaguti

I'm still mostly using weekly charts and I have only been looking at shares where the 10 MA is above the 30. 

Even so shares that break on volume are moving quickly. GMR.L is up another 7% atm and I've noticed that shares that have been building volume before a break really move, but when I've traded in the past I don't like to have have a stop more than 7-8% away from the buying price.

Really the only reason I'm calling these short term trades is because the 30MA is still way above price on the All Share index

[malaguti]

Hello all

I am still very new to this and I know the market is still pretty volatile, but I wanted to ask about entry points.

I am looking at shorter term trades atm and I have screens set up so that I can see when a share breaks on volume.

I seem to be missing a lot of entries because some stocks are moving fast and I'm not sure whether to come in or not because I'm not sure where to put a stop loss.

Today for instance while I was out, GMR.L Gaming Realms broke a new high and I received a notification. When I got home I had a look but it had already moved ~12%. It did pull back to ~8% at some point in the afternnon but I decided to wait until right at the end of trading to see if the price pulled back some more. Unfortunately at the end of trading it was up ~14%.

I guess what i am asking is where you would come in or would you leave to the following day and where would you put stops?

Hi Boggers, where you place your stop is going to be very much dependent on your timeframe. so when you say shorter term, how shart are we talking about? obviously the book looks at the investor vs the trader so are you looking at the weekly still but leaning more toward the MA(10) rather than the 30?
or are you actually going shorter still than weekly..which is probably not advised until you have some experience of the method

Hi Malaguti

I'm still mostly using weekly charts and I have only been looking at shares where the 10 MA is above the 30. 

Even so shares that break on volume are moving quickly. GMR.L is up another 7% atm and I've noticed that shares that have been building volume before a break really move, but when I've traded in the past I don't like to have have a stop more than 7-8% away from the buying price.

Really the only reason I'm calling these short term trades is because the 30MA is still way above price on the All Share index

I know how you feel...30 week is sometimes miles away and in the case of the 10ma that too is outside your comfort zone
The alternative and this is something i've noticed our resident expert and founder ISA use more and more is an ATR trailing stop
I love the use of the ATR as that is going to be the best measure of how far you need your stop to really be
looking at GMR, the (2*) 52 week ATR is very very close to trailing the lows (however its still almost 20% away)
the 10week would have been by the book but that is giving you a stop almost 25% away. so going by the weekly you will not have a stop 8% even just this week alone as you've mentioned would have you stopped out at any slight retrace

to be 8% away you need to choose a different stock/instrument to trade, or you need to go down to a lower timeframe, daily/4 hourly.
personally, i would look at something different to trade. it doesn't have to be individual shares but gives good solid returns and would let you build up your capital depending on your broker and what instruments are available

the index for example, doesn't require a stop loss of 25% away even 20% is unusual. so look at changing your focus
An index, an ETF of a bond, or corporate bonds for example would give good solid returns without the drawdown and allow you to have a lot more room to breathe
just a couple of ideas, hope they help

[Boggers]

Hello all

I am still very new to this and I know the market is still pretty volatile, but I wanted to ask about entry points.

I am looking at shorter term trades atm and I have screens set up so that I can see when a share breaks on volume.

I seem to be missing a lot of entries because some stocks are moving fast and I'm not sure whether to come in or not because I'm not sure where to put a stop loss.

Today for instance while I was out, GMR.L Gaming Realms broke a new high and I received a notification. When I got home I had a look but it had already moved ~12%. It did pull back to ~8% at some point in the afternnon but I decided to wait until right at the end of trading to see if the price pulled back some more. Unfortunately at the end of trading it was up ~14%.

I guess what i am asking is where you would come in or would you leave to the following day and where would you put stops?

Hi Boggers, where you place your stop is going to be very much dependent on your timeframe. so when you say shorter term, how shart are we talking about? obviously the book looks at the investor vs the trader so are you looking at the weekly still but leaning more toward the MA(10) rather than the 30?
or are you actually going shorter still than weekly..which is probably not advised until you have some experience of the method

Hi Malaguti

I'm still mostly using weekly charts and I have only been looking at shares where the 10 MA is above the 30. 

Even so shares that break on volume are moving quickly. GMR.L is up another 7% atm and I've noticed that shares that have been building volume before a break really move, but when I've traded in the past I don't like to have have a stop more than 7-8% away from the buying price.

Really the only reason I'm calling these short term trades is because the 30MA is still way above price on the All Share index

I know how you feel...30 week is sometimes miles away and in the case of the 10ma that too is outside your comfort zone
The alternative and this is something i've noticed our resident expert and founder ISA use more and more is an ATR trailing stop
I love the use of the ATR as that is going to be the best measure of how far you need your stop to really be
looking at GMR, the (2*) 52 week ATR is very very close to trailing the lows (however its still almost 20% away)
the 10week would have been by the book but that is giving you a stop almost 25% away. so going by the weekly you will not have a stop 8% even just this week alone as you've mentioned would have you stopped out at any slight retrace

to be 8% away you need to choose a different stock/instrument to trade, or you need to go down to a lower timeframe, daily/4 hourly.
personally, i would look at something different to trade. it doesn't have to be individual shares but gives good solid returns and would let you build up your capital depending on your broker and what instruments are available

the index for example, doesn't require a stop loss of 25% away even 20% is unusual. so look at changing your focus
An index, an ETF of a bond, or corporate bonds for example would give good solid returns without the drawdown and allow you to have a lot more room to breathe
just a couple of ideas, hope they help

Thanks for the info

I already have a system that works pretty well, I buy UK stocks with a good roce and rising eps where the RS and the price is rising on a weekly chart. 

But I really like the Weinstein idea that everything you need to know is in the price and volume, but of course if there is a good deal of volume the price is going to move and maybe quickly. I think I might just have to trade larger cap stocks maybe or wait until the market settles down a bit more before moving to this system. I will also take a look at atr stops.
I will get the hang of this eventually
Many thanks

[marry123]

Hello,
I was hoping to receive input on where the proper buy point was/is for ANX.TO (gold miner).
Was the proper entry long at around 28 cents (I did not buy yet) and if it was around 28 cents would one wait to enter if it back tests around 0.28-0.30 or still not too stretched from the proper entry to buy at current level?

Thanks as always for your help.