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+--- Thread: Stage Analysis Beginners Questions (/Thread-Stage-Analysis-Beginners-Questions)
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RE: Beginners Questions - Reece Webb - 2018-10-24
Many thanks for that I appreciate it, as I mentioned about entering TIG at its breakout point of 0.57 I’m struggling to see where I went wrong there, any help/ tips on what I did wrong would be greatly appreciated when you have time to do so.
Thanks once again.
RE: Beginners Questions - isatrader - 2018-10-24
(2018-10-24, 08:52 PM)Reece Webb Wrote: Many thanks for that I appreciate it, as I mentioned about entering TIG at its breakout point of 0.57 I’m struggling to see where I went wrong there, any help/ tips on what I did wrong would be greatly appreciated when you have time to do so.
Thanks once again.
The entry point wasn't too bad. One issue was at 0.57 it was quite extended in the short term from it's support level so if the market had been in a strong Stage 2 phase you might have gotten away with it. But when the market is sluggish you have be much better with your risk management, and get into stocks with much tighter distances to their stop losses as the chance of failed breakouts increases due to the market conditions. So you want to risk less in these periods especially.
There was also a lower entry point that would have given you less risk which was the breakout above the January high level in July. This would have gotten you in in the low 40s and given you the chance to exit the stock for a profit in October when it started having multiple days below it's 50 day MA and the market condition deteriorated.
A major issue was that the market condition was particularly bad in the Venture Index, which this is part of I believe, which has been in Stage 4 for a lot of the year, and Gold was also in Stage 4. So with the method we generally avoid stocks in Indexes in Stage 4 unless they are showing an exceptional pattern, as you want to trade with the wind in your sails, helping you along, not blowing in your face.
I've attached some the weekly, daily and 2 hour charts. Look at the 2 hour chart, can you see anything familar from the book?
RE: Beginners Questions - Reece Webb - 2018-10-25
Thank you so much for the help it means a lot, may i ask how to find out what market a stock is in ? I know this may sound like a very silly question but i often struggle to find this information.
As to your question it looks like to me its starting a stage 1 and also maybe a possible head and shoulders formation brewing.
RE: Beginners Questions - isatrader - 2018-10-26
(2018-10-25, 10:50 PM)Reece Webb Wrote: Thank you so much for the help it means a lot, may i ask how to find out what market a stock is in ? I know this may sound like a very silly question but i often struggle to find this information.
If you are using stockcharts.com then you can simply tick the full quote option on the chart, and it will tell you the market and sub sector. Other software will have similar options. Or you can just google the company and it will tell you on it's website.
RE: Beginners Questions - Sartois - 2018-11-16
Hi all,
I was just wondering what people thought of Weinstein's stop loss system in trending or ranging markets. I've been using Elder's Safe Zone to an extent but, like many volatility stops, it works best in trending markets (which I'd assume is also the case for Weinstein's since it's a trend system).
I'm a bit stumped over a good system for ranging markets...
Alex
p.s. In full disclosure, a stop loss kicked in for a share of mine, and then the price popped up by 5%...bah humbug, etc.
RE: Beginners Questions - StageAnalysis - 2018-11-16
(2018-11-16, 04:49 PM)Sartois Wrote: Hi all,
I was just wondering what people thought of Weinstein's stop loss system in trending or ranging markets. I've been using Elder's Safe Zone to an extent but, like many volatility stops, it works best in trending markets (which I'd assume is also the case for Weinstein's since it's a trend system).
I'm a bit stumped over a good system for ranging markets...
Alex
p.s. In full disclosure, a stop loss kicked in for a share of mine, and then the price popped up by 5%...bah humbug, etc.
Yep, it's no good for ranging markets. It is meant for when the market is in Stage 2 and the stock is also in Stage 2. Currently the various markets are in Stage 3 or 4 mostly. So it is easier to to avoid the chop entirely, and only trade long when the market is in a Stage 2 advancing phase imo.
RE: Beginners Questions - Red Barron - 2018-11-16
Which takes precedence/carries more weight as support, a horizontal support line that connects 2 lows, or a diagonal trendline that connects 3 lows/dips?
RE: Beginners Questions - isatrader - 2018-11-16
Horizontal support is always stronger imo, as trend lines are more subjective