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+--- Thread: UK Stocks and ETFs - Watchlist and Discussion (/Thread-UK-Stocks-and-ETFs-Watchlist-and-Discussion)
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RE: UK Stocks - Watchlist and Discussion - MalcolmSm1th - 2014-04-04
Thanks ever so much for the reply to Tryst's message. This, looking at other systems, looks to have formed a classic Cup and Handle formation. Which, at the end of the day isn't too far removed from Weinstein's methods.
In fact, I have been devouring books of late and have looked at Livermore's methods and they all seem to follow similar patterns: wait for the breakout on volume, get in with a probe stake, go in again more when the next buy signal occurs and so on.
It a common thread in a lot of the books but I have to say the Livermore tends to be willing not to wait for the breakout for the initial bet sometimes if he thinks he's identified where the market has turned.
RE: UK Stocks - Watchlist and Discussion - MalcolmSm1th - 2014-04-04
Thanks ever so much for the reply to Tryst's message. This, looking at other systems, looks to have formed a classic Cup and Handle formation. Which, at the end of the day isn't too far removed from Weinstein's methods.
In fact, I have been devouring books of late and have looked at Livermore's methods and they all seem to follow similar patterns: wait for the breakout on volume, get in with a probe stake, go in again more when the next buy signal occurs and so on.
It a common thread in a lot of the books but I have to say the Livermore tends to be willing not to wait for the breakout for the initial bet sometimes if he thinks he's identified where the market has turned.
RE: UK Stocks - Watchlist and Discussion - goodtyneguy - 2014-04-04
There are a few different schools of thought out there when it comes to entry points. Morales & Kacher were very successful in using what they call a pocket pivot buy point which advocates getting in before the break out. As O'Neil's disciples they made a small adaptation to the CANSLIM model to take into account the difficult market they found themselves in between 2004 and 2006 if I recall correctly. At the time the S&P500 was stair stepping up but in a manner where most of the gains were being retraced after each advance.
http://www.virtueofselfishinvesting.com/faqs/answer/Ten-Rules-for-Pocket-Pivots
It's a very similar concept to Minervini's volatility contraction pattern which is detailed in his book Trade like a Stock Market Wizard. Isatrader posted up an example somewhere on the forum a few weeks ago, I think it was in the elite members area.
RE: UK Stocks - Watchlist and Discussion - goodtyneguy - 2014-04-04
There are a few different schools of thought out there when it comes to entry points. Morales & Kacher were very successful in using what they call a pocket pivot buy point which advocates getting in before the break out. As O'Neil's disciples they made a small adaptation to the CANSLIM model to take into account the difficult market they found themselves in between 2004 and 2006 if I recall correctly. At the time the S&P500 was stair stepping up but in a manner where most of the gains were being retraced after each advance.
http://www.virtueofselfishinvesting.com/faqs/answer/Ten-Rules-for-Pocket-Pivots
It's a very similar concept to Minervini's volatility contraction pattern which is detailed in his book Trade like a Stock Market Wizard. Isatrader posted up an example somewhere on the forum a few weeks ago, I think it was in the elite members area.
RE: UK Stocks - Watchlist and Discussion - goodtyneguy - 2014-04-04
Just a reminder for UK traders, the ISA deadline is midnight tomorrow (Saturday 5th April). Plan providers may be staying open until then but I would n't count on it. So if your provider or prospective provider does n't allow online debit card payments today may be your last day!
RE: UK Stocks - Watchlist and Discussion - goodtyneguy - 2014-04-04
Just a reminder for UK traders, the ISA deadline is midnight tomorrow (Saturday 5th April). Plan providers may be staying open until then but I would n't count on it. So if your provider or prospective provider does n't allow online debit card payments today may be your last day!
RE: UK Stocks - Watchlist and Discussion - MalcolmSm1th - 2014-04-04
Thnaks ever so much for the link to the book. I have gone and bought a second hand copy of the latest editiion and I will give it a good read when it finally arrives.
RE: UK Stocks - Watchlist and Discussion - MalcolmSm1th - 2014-04-04
Thnaks ever so much for the link to the book. I have gone and bought a second hand copy of the latest editiion and I will give it a good read when it finally arrives.