Was expecting SESDAQ today to open high but close lower than opening. This means there'll be good rallies for stocks in the morning before dropping due to profit taking. So I start building the portfolio below after 11am, where rallied prices have dropped to safer levels for buying. In the meantime, can see which are the strong ones which don't retrace to opening price. Previously sold all my shares on Wed 330pm to cut loss from the sell-out.
APOIL - bought at 0.400, gap up break R at 0.365
ARMARDA - bought at 0.390, gap up rest on R at 0.390
AUSGROUP - bought at 1.930, bounce from S at 1.770
CSPORTS - bought at 1.610, intraday cup and handle
COSCO - bought at 5.050, break flag formation at 4.880
HLG - bought at 0.530, continue rally after filling gap up
JADE - bought at 0.475, gap up close higher than Thu
LABROY - bought at 2.680, gap up break R at 2.650
LIANBENG - bought at 0.510, gap up break R at 0.495
MULTI-CON - bought at 0.460, gap up break R at 0.400
SYNEAR - bought at 1.950, bounce from S at 1.950, flag
STRAITS - bought at 1.520, gap up break R at 1.470
WANXIANG - bought at 0.480, sold at 0.572, strong intraday
Noticed WANXIANG from top gainer just before lunch. Saw from intraday chart that unlike usual rallies, when this counter chiong, it retrace just a little bit, suggesting strong buyers present. Never heard of this stock before, no trading chart to see also. Nevertheless bought at 0.455. Later found out from a friend it has just IPO.
When it rally after 4pm, I added at 0.530, only half my original bet. This is to make sure even if it fall quite a bit, I would still make money. Sold some at 0.575 when I see buying momentum decrease. Sold remaining at 0.570 when retracement is too much. So.. 19% profits from this bet. A pleasant weekend gift
As for rest of 12 counters, the profits made is just nice to cover the commission charges for their buy and sell transactions (later next week).
Interesting people we are now attracting to this webby. Rally artist are you sure you are only a 3 month novice? What you are practising comes from years of " paid lessons " in the market for most. Good luck.
Was expecting SESDAQ today to open high but close lower than opening. This means there'll be good rallies for stocks in the morning before dropping due to profit taking. So I start building the portfolio below after 11am, where rallied prices have dropped to safer levels for buying. In the meantime, can see which are the strong ones which don't retrace to opening price. Previously sold all my shares on Wed 330pm to cut loss from the sell-out.
APOIL - bought at 0.400, gap up break R at 0.365
ARMARDA - bought at 0.390, gap up rest on R at 0.390
AUSGROUP - bought at 1.930, bounce from S at 1.770
CSPORTS - bought at 1.610, intraday cup and handle
COSCO - bought at 5.050, break flag formation at 4.880
HLG - bought at 0.530, continue rally after filling gap up
JADE - bought at 0.475, gap up close higher than Thu
LABROY - bought at 2.680, gap up break R at 2.650
LIANBENG - bought at 0.510, gap up break R at 0.495
MULTI-CON - bought at 0.460, gap up break R at 0.400
SYNEAR - bought at 1.950, bounce from S at 1.950, flag
STRAITS - bought at 1.520, gap up break R at 1.470
WANXIANG - bought at 0.480, sold at 0.572, strong intraday
Noticed WANXIANG from top gainer just before lunch. Saw from intraday chart that unlike usual rallies, when this counter chiong, it retrace just a little bit, suggesting strong buyers present. Never heard of this stock before, no trading chart to see also. Nevertheless bought at 0.455. Later found out from a friend it has just IPO.
When it rally after 4pm, I added at 0.530, only half my original bet. This is to make sure even if it fall quite a bit, I would still make money. Sold some at 0.575 when I see buying momentum decrease. Sold remaining at 0.570 when retracement is too much. So.. 19% profits from this bet. A pleasant weekend gift
As for rest of 12 counters, the profits made is just nice to cover the commission charges for their buy and sell transactions (later next week).
So bro ralliartist...wat's ur view on Ausgroup's TA? Do u think it can keep up the uptrend?......Thanks in advance!
Posted: Sat Jul 21, 2007 10:49 am Post subject: Re: RallyArtist - Trading for a Living
RallyArtist wrote:
Welcome to RallyArtist's Trading Blog
This blog is meant for beginners like RallyArtist to learn and grow together, thru sharing trading ideas and objective discussions.
A beginner of 3 months, RallyArtist is a contra trader who seeks to maximize profits using limited capital. He trades both penny stocks and bluechips, as long good profit margins are there. He seeks to accomplish this by timing the market using TA, while controlling risks in a systematic manner. With some unforseen circumstances, RallyArtist recently quit his IT job to be a full-time home trader. He hopes to keep things simple in this blog so beginners can easily understand and learn from one another.
Please feel free to post any comments for discussion. This's a beginner's thread and all posts are purely personal opinions. RallyArtist will not be responsible for any losses incurred. But any gains made he will gladly accept
RallyArtist,
Great to see your decision and determination to go after what you like to do ... just like Joshing and many others here .....
This is something that I must learn from you but I may not proactively achieve ....
Wishing you all the best and keep the good posting through ....
one time open so many position, if you encounter another wed selldown and with the SGX system jam again, you think you can cut off in time for all the counters. it is not that you punt on many counters and you will win big, sometime you just need to catch a few and they could bring you the max profit already.
i just have a comment on synear. technically it is like doing an ascending triangle and problem is not sure when the breakout. on the other hand it is range bound between 1.89 - 1.98 while completing the ascending triangle. if you are thinking of contra, you kind of getting at the high end of the range already. very little meat for you to eat during the contra period.
Interesting people we are now attracting to this webby. Rally artist are you sure you are only a 3 month novice? What you are practising comes from years of " paid lessons " in the market for most. Good luck.
Thanks sessam..
Really haha.. Bought my first stock SGX when it was 6.15.. (sold long ago, REGRET NOW) It was pretty tough in my first 2 months, sleeping 4h nights, just to do homework at night after coming back from work. I also lost 50% of my capital (all borrowed from bank) in the first 2 months. At that time I'm still trading based on feel. Apparently not a good strategy.
Things began to turn around in the 3rd month when I open KE account and started drawing lines using its charting tool. Vickers can't draw anything. That's when I began to like TA. Now I'm reaching the end of 4th month. With some blessings I recoup first 2 months losses and also made 82.7% profits.
Posting figures here not to show off, I believe experts in CNA can do much better. But to encourage beginners like myself not to give up. Trade cautiously with your capital and make sure you don't lose it. There'll come a day when your trades start to turn green =)
AUSGROUP has been an amazing counter.. It looks bullish for now.
For Mon, primary support at 1.960. If drop below this, secondary support at 1.790. Primary resistance is 2.030. If breakthru it, secondary resistance at 2.250. So you can aim for a target price slightly below those resistances.
Even thou individual stock charts is impt, to me, the most impt factor determining the performance of your stocks is how the general greater market moves. I usually look at how SESDAQ and STI moves before looking into individual counters' charts. And finally making decisions whether to buy/sell bluechips or penny stocks.
I tend to associate AUSGROUP's movements with SESDAQ rather than STI. SESDAQ looks bullish next week, recovering from Wed sell-out. Penny counters should do well next week. However, on Mon STI will be testing its 4-year resistance line at 3675. So we just have to trade flexibly, because if STI bang, SESDAQ also can't escape. The big drop in US on Fri night is another cause for concern.
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