Wednesday, December 20, 2006
BUY 13000 HVN-ASX @ 387
Ok perfect buy signal on this one, no profit target or stop yet, lets just see where the markets takes us.
Tuesday, December 19, 2006
SELL 25000 TLS-ASX @ 410
IF DONE
BUY 25000 TLS-ASX @ 415 ON STOP
OCO
BUY 25000 TLS-ASX @ 401
Ok so this one is a bit of a gamble, going against the strong uptrend. Will be proved wrong at 415, however if it falls will easily get 401. Grab a beer boys.
BUY 25000 TLS-ASX @ 415 ON STOP
OCO
BUY 25000 TLS-ASX @ 401
Ok so this one is a bit of a gamble, going against the strong uptrend. Will be proved wrong at 415, however if it falls will easily get 401. Grab a beer boys.
Monday, December 18, 2006
BUY 2600 NAB-ASX @ 38.30
Here we received a buy signal at Market On Open (MOO) so we were looking to get long at 38.12 on the 27th November 2006
I was filled at 38.30 for a volume of 2600 to make a total trade size of $99,580.
The next day it gapped down to open at 37.91 and ended up closing at 38 even for the day
The next day it opened at 38.15 and rocketed up to close at its high of 39.02
The next day it gapped open to 39.20 and I closed the position at 39.24 being the 30th November 2006
Total profit on trade was $2444
Sunday, December 17, 2006
The Thirsty Trader
Welcome to the Thirsty Trader, here I will be posting my trades in real time for all to share. Firstly I'll give you a bit of background about myself. I live in Sydney and started share trading on the ASX, moving on to trade Futures on the Asian Financial markets namely the SPI, NIKKEI, HANG SENG and TAIWAN untill eventually trading Futures on the Global Financial markets namely the FTSE, DAX, S&P E-Mini's and Nasdaq E-Mini's.
Now I feel I have gone full circle, having searched the world for trading opportunities and having both made and lost a lot of money through both Discretionary and Mechanical models I felt it was time to sit down and do something different, I have thrown out a lot of so call "Rules" and have taken my own approach to Trading, my style may or may not be for you, mainly I will be trading Contracts for Difference (CFD) on Shares in the ASX, however will also be posting my trades for International Financial Index Future's contracts.
So sit back, grab a beer and come along for the journey with the Thirsty Trader and see how I go.
Now I feel I have gone full circle, having searched the world for trading opportunities and having both made and lost a lot of money through both Discretionary and Mechanical models I felt it was time to sit down and do something different, I have thrown out a lot of so call "Rules" and have taken my own approach to Trading, my style may or may not be for you, mainly I will be trading Contracts for Difference (CFD) on Shares in the ASX, however will also be posting my trades for International Financial Index Future's contracts.
So sit back, grab a beer and come along for the journey with the Thirsty Trader and see how I go.
Saturday, December 16, 2006
The System and Five Golden Rules
Whilst I am not going to give the exact details of my system I will give a very good overview.
Thirsty's Five Golden Rules
1. KEEP IT VERY SIMPLE - There is nothing like Fibonacci or Elliot Waves, I just can't buy into that shit.
2. NO STOP LOSS - Ohh ahh, but that's right, bloody Stop Losses, what a misnomer, they should be called Realise Losses, so this is not to say I won't have a losing trade and won't "Stop" out of one, but I trade with no active order in the market to trigger a stop, the only time I will "Stop" out of a trade is once I am convinced that I got it wrong and the position is unrecoverable.
3. Often Average a "Losing Trade" - Yep another golden rule broken, I think the reality is you can never accurately pick a top or a bottom, so when a trade goes against me and everything else is still looking right I will increase the position to dollar cost average the trade.
4. Trade a manageable position - About the only golden rule I think that has some real merit, and is really what lets me trade with rule 2. My default dollar value on a trade is $100K, and can afford to lose the entire amount without negatively affecting my life. However that money is NOT in my trading account and is off doing other things, so I still think it is better to trade on margin with CFD's
5. Trade WITH the trend. - Just because you can go Long AND Short doesn't mean you should do either.
The System
At the moment I currently trade Predominately LONG positions, as we are in a GREAT bull market, this is an easy way of keeping with Rule 5.
I trade using both Fundamental and Technical Analysis with Buy/Sell signals being generated via a custom EFS study that I have developed for eSignal. Although it is possible to trade the signals Mechanically, I find I can do better by adding a bit of discretion to it.
I have put a great deal of work into the EFS study and it is currently working very well, it works better on some stocks than on others, however I have identified these and back tested over the last year and produced some excellent results. However as we all know, past performance is no indication of future, so I intend to post all my trades here as they come up so we can see together how the actual performance goes.
I have been trading the system for the last month and have currently returned 50% of my account size.
Firstly I will post my first month trades, and then onto real time updates.
Please Note: These postings are for general information purposes only, I am in NO way recommending what you should be doing and take no responsiblities for your actions, trading leveraged products is risky, blah blah blah.
Thirsty's Five Golden Rules
1. KEEP IT VERY SIMPLE - There is nothing like Fibonacci or Elliot Waves, I just can't buy into that shit.
2. NO STOP LOSS - Ohh ahh, but that's right, bloody Stop Losses, what a misnomer, they should be called Realise Losses, so this is not to say I won't have a losing trade and won't "Stop" out of one, but I trade with no active order in the market to trigger a stop, the only time I will "Stop" out of a trade is once I am convinced that I got it wrong and the position is unrecoverable.
3. Often Average a "Losing Trade" - Yep another golden rule broken, I think the reality is you can never accurately pick a top or a bottom, so when a trade goes against me and everything else is still looking right I will increase the position to dollar cost average the trade.
4. Trade a manageable position - About the only golden rule I think that has some real merit, and is really what lets me trade with rule 2. My default dollar value on a trade is $100K, and can afford to lose the entire amount without negatively affecting my life. However that money is NOT in my trading account and is off doing other things, so I still think it is better to trade on margin with CFD's
5. Trade WITH the trend. - Just because you can go Long AND Short doesn't mean you should do either.
The System
At the moment I currently trade Predominately LONG positions, as we are in a GREAT bull market, this is an easy way of keeping with Rule 5.
I trade using both Fundamental and Technical Analysis with Buy/Sell signals being generated via a custom EFS study that I have developed for eSignal. Although it is possible to trade the signals Mechanically, I find I can do better by adding a bit of discretion to it.
I have put a great deal of work into the EFS study and it is currently working very well, it works better on some stocks than on others, however I have identified these and back tested over the last year and produced some excellent results. However as we all know, past performance is no indication of future, so I intend to post all my trades here as they come up so we can see together how the actual performance goes.
I have been trading the system for the last month and have currently returned 50% of my account size.
Firstly I will post my first month trades, and then onto real time updates.
Please Note: These postings are for general information purposes only, I am in NO way recommending what you should be doing and take no responsiblities for your actions, trading leveraged products is risky, blah blah blah.
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