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     l_plate
Member
Username: l_plate
Post Number: 33
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Thursday, July 27, 2006 - 12:06 pm: |  
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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l_plate
Member
Username: l_plate
Post Number: 34
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Thursday, July 27, 2006 - 12:09 pm: |
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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l_plate
Member
Username: l_plate
Post Number: 35
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Friday, July 28, 2006 - 08:55 pm: |
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tmf ,williams % heading south
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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l_plate
Member
Username: l_plate
Post Number: 36
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Tuesday, August 01, 2006 - 09:40 pm: |
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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peter1
Member
Username: peter1
Post Number: 77
Registered: 12-2005Rating: N/A
Votes: 0
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| | Tuesday, August 01, 2006 - 10:45 pm: |
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L-Plate, good pick with solid TA. I like the fact that you showed the weekly view with your daily setup. Your trigger, buying new highs is a solid entry point.
IMO too many indicators. See how the indicators are now playing on your mind as the trade progresses, "tmf ,williams % heading south". Once the trade starts then all you watch is the price and wait until it hits one of your exit prices, be it a profit target or a trailing stop.
btw: What is your trailing stop method or how would you suggest we trail the stop on this trade?
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l_plate
Member
Username: l_plate
Post Number: 37
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Thursday, August 03, 2006 - 05:03 pm: |
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Hi Peter1
Thanks for your comments regarding the indicators...yes they do play on my mind...I picked this one up on a simple IC scan...moving average crossover 5ema over 20ema and my entry point was the 5ema over 50 ema... I have no profit target ( the more the better i say )but i trade cfds so i keep a tight trailing stop...a couple of ticks below each days low... so far so good...still looks strong and was expecting it to respect the previous high of 65.00 ....now its see how far it can go...
Sorry for the delay in replying
Thanks for your comments
michael
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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peter1
Member
Username: peter1
Post Number: 79
Registered: 12-2005Rating: N/A
Votes: 0
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| | Thursday, August 03, 2006 - 08:07 pm: |
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Thanks Michael, you have answered my next two questions as well. I was interested to know if it was a cfd trade and if so then I was wondering if you had a plan to get in much earlier than the high. So you have done very well with this one.
Now I am interested to know if you added (pyramided) to the position as it broke above the high? If you answer yes to this then you are one bright trader.
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l_plate
Member
Username: l_plate
Post Number: 38
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Thursday, August 03, 2006 - 11:10 pm: |
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hi peter
Yes when XOM had a high on the 14th friday of 65.00 i placed a limit trade at 65.50 and am still smiling 
Now all i have to do is work out when to get out...
My exit plan needs work!!!
Thanks for your comments
PS btw im not really that bright and as my name suggests im still very much learning and a bit of luck with this trade has helped
cheers
michael
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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peter1
Member
Username: peter1
Post Number: 81
Registered: 12-2005Rating: N/A
Votes: 0
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| | Friday, August 04, 2006 - 08:21 pm: |
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Michael, if you just concentrate on finding stocks with similar characteristics like XOM;
- strong uptrend on weekly chart
- consolidation or small retracement
- resumption of uptrend with MA crossover on daily chart
and trade them consistently with sensible money management. You will do very well.
Even now I think you should be upgraded to a P_plate.
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l_plate
Member
Username: l_plate
Post Number: 39
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Tuesday, August 08, 2006 - 09:00 pm: |
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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peter1
Member
Username: peter1
Post Number: 83
Registered: 12-2005Rating: N/A
Votes: 0
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| | Wednesday, August 09, 2006 - 12:08 am: |
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Michael, can't let you post and run without a comment. Have you considered adding to your position? Either one of the two places I have numbered would have been a good place to pyramid. It is definitely worth including a pyramiding strategy to your plans. It turns the good trades into great trades. It also focuses your mind on looking for the next entry instead of looking for the exit.
If your trading plan has a pyramiding strategy then it is sensible to start the trade with a small position and if the trade turns out well then you add more and if you place your trailing stop above the prior trade's breakeven price you have no additional risk.
Please research and consider.
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peter1
Member
Username: peter1
Post Number: 93
Registered: 12-2005Rating: N/A
Votes: 0
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| | Sunday, August 20, 2006 - 06:09 pm: |
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Hey Michael. Did you get shaken out of this trade? If you did then well done on a profitable trade. If you are still with it, then very well done, you have become a much better trader. Do you have a re-entry rule in your plan?
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l_plate
Member
Username: l_plate
Post Number: 40
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Sunday, August 20, 2006 - 08:13 pm: |
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Hi peter
Sorry i didnt reply to your post wednesday the 9th but have been busy with work...been away and havnt had the time to spend charting and planing the next move..
Yes im still in but not holding as much...ATM i think XOM still looks +VE and maybe add a few more if it keeps heading north around the 69.45 mark...
Thanks for your comments and advise
cheers
michael
PS where would you be looking to get in at this stage ?
I got stopped out with the small amount i added when it hit blue sky at 65.00...but still holding the original entry
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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peter1
Member
Username: peter1
Post Number: 94
Registered: 12-2005Rating: N/A
Votes: 0
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| | Sunday, August 20, 2006 - 09:44 pm: |
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Sorry Michael, specific advice should not be asked for or given on a public forum. The only support I can give you is to assist you with developing your trading plan. After this trade is over, you don't want to think "why didn't I add more?" or " why didn't I re-enter?". Thinking about these ideas while the trade is hot should make your eventual decisions much more "yours".
You should evaluate any enhancements to your plan over a period of time and a lot of charts. Don't change your plans in the middle of a trade, it only stuffs things up and causes more emotional instability. It is worse than looking at a stack of indicators while the trade is open!
Isn't trading a lot of fun!
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l_plate
Member
Username: l_plate
Post Number: 41
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Wednesday, August 23, 2006 - 08:23 pm: |
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Hi peter
Sorry if i worded it wrong but i wasnt asking for specific advise on where to get in again.. only what you were seeing in the charts ...we all see things differently...if we didnt we would all be winners....where some see a good entry point others have seen a good exit point....In my plan i already had a reentry point which was hit on monday.
XOM still looks +VE and fingers crossed the ride continues
cheers
michael
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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peter1
Member
Username: peter1
Post Number: 95
Registered: 12-2005Rating: N/A
Votes: 0
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| | Wednesday, August 23, 2006 - 09:45 pm: |
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Michael, the chart looks promising and remains that way. Remembering that we don't know what will happen next, but we can be prepared for anything.
Did you notice that while you were looking for a re-entry you were in control of the situation and your emotions were calm? Compare those feelings with worrying about getting the most you can from the trade and worrying about the exit. In this situation the market is in control not you. For me having a re-entry rule and a pyramiding rule helps me stay in control and feeling positive.
I am just a bit envious, you selected a great chart and are in a good trade. Congrats and good luck.
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l_plate
Member
Username: l_plate
Post Number: 45
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Monday, August 28, 2006 - 08:58 pm: |
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Did you notice that while you were looking for a re-entry you were in control of the situation and your emotions were calm?
For me having a re-entry rule and a pyramiding rule helps me stay in control and feeling positive.
}yes ...peter i sure did
my trading plan is now under construction as we speak with changes....
thanks
michael
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
|
l_plate
Member
Username: l_plate
Post Number: 55
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Monday, September 04, 2006 - 10:33 pm: |
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
|
l_plate
Member
Username: l_plate
Post Number: 60
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Monday, September 11, 2006 - 08:22 pm: |
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
|
l_plate
Member
Username: l_plate
Post Number: 66
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Thursday, September 28, 2006 - 08:07 pm: |
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If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
|
peter1
Member
Username: peter1
Post Number: 114
Registered: 12-2005Rating: N/A
Votes: 0
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| | Thursday, September 28, 2006 - 10:12 pm: |
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Michael, we are all interested in why you posted the chart. It would be nice if you added a comment like; Wow check out this chart. The old resistance zone looks like becoming a support zone. How good is this?
Or something like that.
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hershy
Member
Username: hershy
Post Number: 1522
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Saturday, September 30, 2006 - 03:37 pm: |
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Hi Peter,
I think what L Plate was intending to say was:
Wow, gee, look at this MACD signal !
Higher histograms leading on to a crossover with accompanying price action. Previous resistance appears to be crumbling.
THIS IS a buy signal for sure !!!
...and another Bloody Mary, por favor !
http://members.optusnet.com.au/~hershy/
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hershy
Member
Username: hershy
Post Number: 1523
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Saturday, September 30, 2006 - 03:41 pm: |
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And it was !
...and another Bloody Mary, por favor !
http://members.optusnet.com.au/~hershy/
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l_plate
Member
Username: l_plate
Post Number: 68
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Tuesday, October 03, 2006 - 11:07 pm: |
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hi hershy
that was what the chart was saying...
different story today
price action slowed ...volume dropping
this leg up finished i think.
michael
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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jdfugatini
Member
Username: jdfugatini
Post Number: 3
Registered: 01-2005Rating: N/A
Votes: 0
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| | Saturday, November 04, 2006 - 10:36 pm: |
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I think this was a very good series with some great advice. As there is a month gap in the exchange, I'm wondering if you are still in the trade. If not, what signal did you use to make the exit?
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l_plate
Member
Username: l_plate
Post Number: 75
Registered: 03-2006
Rating: N/A
Votes: 0
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| | Tuesday, November 14, 2006 - 09:27 pm: |
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Hi....
Yes im still holding and there has been some great advice from peter1 in this thread ...Ive learnt a lot from him...
Late august and september was difficult and i lightened my holding but have been topping up since...
Xom has been a great trade for me and with peters advise has made this trade a rewarding experience ...
Over the last month there hasnt been a lot to think about and no need to look for a exit just yet...The chart says it all....
cheers
michael
If you live to be one hundred, you've got it made. Very few people die past that age.
-- George Burns
I went on a diet, swore off drinking and heavy eating, and in fourteen days I lost two weeks.
-- Joe E. Lewis
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