| Author |
Message |
     captain_chaza
Member
Username: captain_chaza
Post Number: 483
Registered: 02-2003Rating: N/A
Votes: 0
|
| | Wednesday, October 22, 2003 - 02:36 pm: | 
|
Ahoy Ship's 1st Mate Officer Spids
Your RAC nearly ripped my thumbs off
I wonder if Sea-cadet Mosaic can do the Math?
|
spider
Member
Username: spider
Post Number: 1146
Registered: 10-2002Rating: 
Votes: 3
|
| | Wednesday, October 22, 2003 - 03:51 pm: |
|
captain,
I noticed the build up over the last few days.
Then the trading halt yesterday, I could tell that something was in the air, and it looked good.
Nice to be on the right side of one of these, got caught on the wrong side of the COH announcement yesterday.
You win some, you lose some.
Congratulations to all on board this amazing ship, our patience on this one keeps paying off.
I hope that it helps our captain to achieve his percentage goal for us.
First mate spids is writing his memories of the past twelve months on Admiral Colin's web site.
A large part of those memories are wrapped up in this amazing voyage.
Most of the time we do not recognize when we are in the middle of something special, because we are too busy just getting on with our lives.
I wonder how many people will look back at the great ship 'Incredulous' and remember it as one of the defining moments in their trading career?
Most of the 'gurus' on this and other forums will only speak in general terms about their trading (some don't speak of specific trades at all!).
You are the only person that I have come across that has the courage to put his trades on public view.
There have been some courageous people in spiders life, and you rank among the best.
As always , I am proud to be a member of this crew.
.
Subscribe to our FREE
trading newsletter
The weekly Trading Diary offers
free multiple time frame analysis of
major market indices, identifying key
support and resistance levels and
suitable trading strategies.
|
|
|
|
"If half the world weren't idiots, the other half wouldn't make a quid."
- Unknown
|
midas
Member
Username: midas
Post Number: 27
Registered: 07-2003Rating: N/A
Votes: 0
|
| | Wednesday, October 22, 2003 - 07:07 pm: |
|
My Dear Captain
I trust that the crew of the good ship Incredulous raised the red VRE flag in time to catch yesterday's breeze and are holding the sheet good and tight...I have extended my compasses across the chart and believe I can see an 11 coming into view (no pun intended), NNE of your current position...when I see the good ship and it's crew coming over the horizon I will send another signal.
Midas (rapidly acquiring a taste for fine champagne)
|
spider
Member
Username: spider
Post Number: 1148
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Wednesday, October 22, 2003 - 07:54 pm: |
|
midas dude,
mrs spider shares your taste in fine champagne, especially since her recent trip to the Champagne region.
Her favourite is not sold in AUS (Mercier).
spider's taste, on the other hand, goes to single malt Scotch. Check out Bruchladdich .com
Mind you a glass of Chivas will do in a pinch.
spider (a little giddy from watching VRE and RAC over the last couple of days)
"If half the world weren't idiots, the other half wouldn't make a quid."
- Unknown
|
captain_chaza
Member
Username: captain_chaza
Post Number: 484
Registered: 02-2003Rating: N/A
Votes: 0
|
| | Wednesday, October 22, 2003 - 08:29 pm: |
|
Ahoy Able- Seaman Midas
No pun taken
When breaking through the mental pain barrier of the decimal point and the physical cold front of the 10 our crew is well drilled to start thinking in terms of 0.05 moves right now
As usual I expect the momentum to thrust through the 11 with great ease
As you can see on the charts
We never lower a sail at the 11 unless in an emergency SSE correction for leeway
You are indeed fortunate to carry champagne onboard
We only carry Rum as it more concentrated, can be used for medicinal purposes and the valuable space below saved can be used to carry many more sails
If you don't have the sail in your portfolio down below deck you can never hoist it when you may need it the most
The Captain's obsession with safety again!!!
Naturally as a true patriot Sailing for his country our rum is Bundy
|
wadda
Member
Username: wadda
Post Number: 118
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Wednesday, October 22, 2003 - 09:06 pm: |
|
First Officer Spids,
I know the Capn doesn't use auto stop losses as he is able to monitor the seas throughout the day. I, along with other junior sailors, however am not able to do that thus I trade with a SL in place...it caught me out the other day with VRE so I don't have that sail!
What do you do for a stop loss figure in the case of the thumb ripping sail of RAC that you have had us sailing? A percentage?
AB Wadda
'This above all to thine own self be true'
Hamlet, Act II, Scene III
|
wadda
Member
Username: wadda
Post Number: 119
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Wednesday, October 22, 2003 - 09:10 pm: |
|
Fist Mate Spids again...I also whole heartedly concur with you earlier post in particular:
'I wonder how many people will look back at the great ship 'Incredulous' and remember it as one of the defining moments in their trading career?'
Thanks Capn Chaza, First Mate Spids and all the various crew.
AB Wadda
'This above all to thine own self be true'
Hamlet, Act II, Scene III
|
spider
Member
Username: spider
Post Number: 1149
Registered: 10-2002Rating: 
Votes: 1
|
| | Thursday, October 23, 2003 - 12:10 am: |
|
Yo, or should I say ahoy wadda,
your question is a good one, as always.
Mrs spider asked the very same question tonight, when I told her the good news.
This has been an amazing week at spiderville, so much so that mrs spider is starting to get used to it, her first question when she gets home is "How much did we make today dear?"
It is terrifying for any male when his significant other starts to expect unlimited success!
She listens patiently when I say things like "we will probably give some back" and "everyone's a genius in a bull market" and "don't get used to it dear".
Trouble is, she's got that look in her eye, I know she is just humouring me, she expects this to continue, she actually thinks that I know what I'm doing!
What happens when she finds out that I'm just lucky at the moment?
What happens when she finds out that the captain's percentages are better than mine? Will I come home one night after basketball and find seaweed on my pillow?!!!
It's too horrible to think about!
Well I guess that is enough paranoia for one night, back to your question.............................................
When spider has been following a trend for a while he adjusts his profit stop after there has been a surge and a retracement and a resumption in the upward move.
If the price action breaches this stop I half my position.
This actually happened with RAC.
I had increased my holding twice on the way up, but during it's quiet time, it briefly dipped below my stop causing me to halve my position.
You might think that I would be a little upset today because I could have made twice as much if I had not followed my plan.
You'd be wrong.
My rules have saved me more money than I care to count, they are the reason I'm here today.
I could not imagine not being able to enjoy this journey. This is too much fun to miss out on.
I'll post a chart of RAC and hopefully you will see where I have put my stops in the past.
For the moment, we just have to wait and see what happens next. We won't know when or where the retracement will be, we can only act when it happens.
Enjoy the ride.
Remember that the trade of the century comes along about once a week.
spider (feeling very grateful).
.
"If half the world weren't idiots, the other half wouldn't make a quid."
- Unknown
|
leo123
Member
Username: leo123
Post Number: 10
Registered: 07-2003Rating: N/A
Votes: 0
|
| | Thursday, October 23, 2003 - 12:24 am: |
|
MPI : Mark Sensing
The latest stakeholders have close ties with the VISY board. With new plant operating, management shuffled, losses booked... and now Loftus/WAM on the register .. a strategic t/over play may be unfolding. Keep a close eye.
|
spider
Member
Username: spider
Post Number: 1151
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Thursday, October 23, 2003 - 12:38 am: |
|
As you can see, the trend had been established for a long time before I found it.
.
"If half the world weren't idiots, the other half wouldn't make a quid."
- Unknown
|
wadda
Member
Username: wadda
Post Number: 120
Registered: 10-2002Rating:
Votes: 1
|
| | Thursday, October 23, 2003 - 08:03 am: |
|
Thanks Incredibly Able First Officer Spider,
The past few months have certainly been an education. I was stopped out of WSA yesterday then of course the price climbed back up. This led me to thinking along the same lines of 'what ifs'. In this I case should really have put the SL for half my position. I have no regrets tho as we are all learning still and the gains of WSA were spectacular. My chart also indicates that I sold part of my holdings after the initial surge to recover my entry money a couple of weeks ago.
Now with RAC I think I would employ your recommended technique. Put a stop for half my position below yesterday's low at say 37. I fully expect some retracement but of course wish to take advantage of further rises.
Thanks again for your wise counsel as we ply the high seas.
Regards,
wadda
'This above all to thine own self be true'
Hamlet, Act II, Scene III
|
julles
Member
Username: julles
Post Number: 380
Registered: 01-2003Rating: N/A
Votes: 0
|
| | Thursday, October 23, 2003 - 08:06 am: |
|
Captain Ext has purchased some Gold Tenements!
They reached an agreement to purchase all the issued Capital in Burnakura.
Burnakura has a 70 % earning right in the Burnakura JV with St Barbara mines.
Looks interesting!
Julles
|
starboard_tack
Member
Username: starboard_tack
Post Number: 42
Registered: 04-2003Rating: N/A
Votes: 0
|
| | Thursday, October 23, 2003 - 09:49 am: |
|
Thanks Wadda and Spider for your discussion.
Firstly I'd like to say a HUGE thanks to the captain and all crew for the voyage so far. I don't need to look back - I already know it has been a defining moment in my trading. And you guys just keep on defining it!
Spids, a question on your half exit of RAC - when would you have exited the remaining half if RAC had continued to drop? I assume you entered at about .185 and sold half when it breached .20 - do you use a MA for the rest or the resistance trend line from the low of Oct 21?
Fair winds,
Starb'd
|
captain_chaza
Member
Username: ca |
