Stage Analysis Beginners Questions

#41

RE: Beginners Questions

(05-25-2013, 06:57 PM)bluemosaic Wrote: Problem a silly question but how you get a list of FTSE350 shares using the free daily ProRealtime package?
I can see FTSE200 and 300 but not the 350..

Unfortunately it doesn't have the FTSE 350 stocks as a default list, and I just tried and you can't have that many stocks in a custom list, so you can't create it yourself in a single list.

So you can either get by with just the FTSE 300 stocks or another option, which would take a bit of work, would be to create separate lists for the 38 FTSE 350 Sectors. The list of the stocks in each sector is available at: http://www.londonstockexchange.com - FTSE 350 Stocks and you should also create a list for the FTSE 350 sectors themselves, which can be found by doing an advanced search and selecting indices and the letter F. They all begin with FTSE 350 and the Tickers to select of the 38 sectors all start with the code NMX. So for example NMX8350 is the ticker for the FTSE 350 Banks Sector, and NMX3530 is the code for the FTSE 350 Beverages Sector.

Below is the full list of sectors to search for and add to your custom list in ProRealTime.



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isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
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#42

RE: Beginners Questions

(05-25-2013, 03:48 PM)Locked in Wrote: Hey RU, I think the interview where ISA asked Stan some questions will really help with that question. You can find the whole thing @ http://stageanalysis.net/forum/showthrea...d=1&page=9 on post number 67.

Wow ISA you got to ask Weinstein directly...that is definite awesomeness!Big Grin

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#43

RE: Beginners Questions

This chart (which The Black Mamba posted on private journal thread) is the perfect example of the pullback entry. Just thought I would post.

Also, another entry (and safest I believe??) would be as/if it passes the previous swing high imo.



   

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#44

RE: Beginners Questions

(05-26-2013, 11:32 PM)Locked in Wrote: Also, another entry (and safest I believe??) would be as/if it passes the previous swing high imo.

Weinstein says that B entry point, which is the pullback to the initial Stage 2A breakout point is the safest entry. The other entry you describe is the initial continuation breakout, which we talked about previously on the t2w thread and I labelled as a possible C entry point and marked up on the diagram from the book (see attached).

I still believe it could be a fairly safe entry point if you've missed the initial part of the early Stage 2 move, as it is still reasonably early in Stage 2, as you would expect numerous pullbacks and minor continuation moves in a decent Stage 2 advance. So it does give you a chance to put in a tight stop below the swing low with the trader method, and so should still have a decent risk reward imo. But is an entry point that needs further testing, and so is maybe something we can do on the site, as a thread looking at the various entry points is something that's on my to do list.



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isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
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#45

RE: Beginners Questions

I am keen to hear/understand how people deal with the daily drops in their portfolio value (psychological and practical angles). For example, in the past few days my same portfolio of 4 FTSE350 open trades have swung wildly between minus 100% (loss) and plus 125% (gaining) over past 3 days (loss, profit, loss today). I guess this is due to the volatility of the index/market in general.. so should we focus on shares that are less index-linked/led? Should I just learn to ignore these ? I am really trying to discipline myself to check my portfolio once a day (just to adjust stops) but it is definitely easier said than done :-)

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#46

RE: Beginners Questions

(05-29-2013, 10:00 AM)bluemosaic Wrote: I am keen to hear/understand how people deal with the daily drops in their portfolio value (psychological and practical angles). For example, in the past few days my same portfolio of 4 FTSE350 open trades have swung wildly between minus 100% (loss) and plus 125% (gaining) over past 3 days (loss, profit, loss today). I guess this is due to the volatility of the index/market in general.. so should we focus on shares that are less index-linked/led? Should I just learn to ignore these ? I am really trying to discipline myself to check my portfolio once a day (just to adjust stops) but it is definitely easier said than done :-)

It sounds like you are using a large amount of leverage in your positions. Can I ask what percentage risk each trade has compared to your total account size? i.e. if your stop loss is hit, how much percent of your total account will it be?

isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
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#47

RE: Beginners Questions

(05-29-2013, 12:11 PM)isatrader Wrote:
(05-29-2013, 10:00 AM)bluemosaic Wrote: I am keen to hear/understand how people deal with the daily drops in their portfolio value (psychological and practical angles). For example, in the past few days my same portfolio of 4 FTSE350 open trades have swung wildly between minus 100% (loss) and plus 125% (gaining) over past 3 days (loss, profit, loss today). I guess this is due to the volatility of the index/market in general.. so should we focus on shares that are less index-linked/led? Should I just learn to ignore these ? I am really trying to discipline myself to check my portfolio once a day (just to adjust stops) but it is definitely easier said than done :-)

It sounds like you are using a large amount of leverage in your positions. Can I ask what percentage risk each trade has compared to your total account size? i.e. if your stop loss is hit, how much percent of your total account will it be?
I only use 2% per trade of my total account as risk on each trade. I am quite careful with money management and certainly not risking money that I cannot afford or that will wipe my account. it is just the daily fluctuations of profit swinging from high, to low,to loss and back to profit. Just wondered if it was simply a case me being told to 'stop checking your account so often' :-)

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#48

RE: Beginners Questions

(05-29-2013, 12:38 PM)bluemosaic Wrote: I only use 2% per trade of my total account as risk on each trade. I am quite careful with money management and certainly not risking money that I cannot afford or that will wipe my account. it is just the daily fluctuations of profit swinging from high, to low,to loss and back to profit. Just wondered if it was simply a case me being told to 'stop checking your account so often' :-)

Oh ok, I guess the way you explained it just confused me, and made me think you were over extending yourself. 2% is the standard risk that gets touted on various sites and books etc, but it's a maximum amount, and ideally you should be at 0.5% or under if possible depending on account size imo.

To your question, it's very hard not to keep checking your position, especially if you are risking more than you are comfortable with. But if you find a trade size you are comfortable with, you will find it easier not to look all the time, and then it simply takes time to get used to not micro managing a trade.

There's no harm in checking in on your trades during the day as long as you have a plan for the trade in the first place before you open it. The trader method gives you various entry points and the initial stop loss positioning and guidance on raising it as the trade develops, but exiting the trade has a bit more discretion involved and hence why you need a plan before you take the trade of what you will do in various different scenarios that can happen. So the more prepared you are for each trade, the less likely you will be to interfere with it imo.

A journal is a good method of enforcing a plan on your trades, as it helps you to plan, as well as analysing your trades when once they are closed.

isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
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