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Trade the Bollonger Band Squeeze

2011...July to September Challenge...Week 3

Chart Forum » Stocks - ASX: short term (strictly TA) » Archive through December 20, 2011 » 2011...July to September Challenge...Week 3

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p3t3
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Friday, July 15, 2011 - 04:27 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Welcome to the "June Solstice to September Equinox Challenge ".

This Challenge will start on the week beginning July 4th and run until September 30th over a period of 13 weeks. At the completion of that time an acknowledgement by way of the award of "(cyber) medals" of Gold, Silver and Bronze will be made to the top 3 achievers. Last place will also be acknowledged with the award of a "(cyber) wooden spoon".

This Weekly Comp is aimed at the non-professional market entrant with $5,000 drawn off his mortgage or credit card, a standard trading account and a day job (probably also with a wife and dependent kids).

This stock tipping Challenge will use Monday's open price for the entry and Friday's close as the exit.

An intra-week "Stop" may be nominated on any day - Monday to Thursday - and will be taken as having been received after that day's market close. The closing price of the position will be the next day's open price, that being the nearest available exit price. Activating that "Stop" would close the entrant's position until the start of the following week, and no new position may be opened for the purposes of the Comp until then. A new pick may be nominated towards the end of the week in which the "Stop" was applied for the following week's trading.

Only long positions may be be nominated, with a unit price no lower than $0-05. Any day that a stock closes below $0-05 an automatic stop will be applied on that day, using the close price for that day as the exit price. No entries for warrants, exchange traded options or other derivative products will be accepted, only entries of ASX tickers for ordinary shares and ASX ticker "Gold".

Nominations should be accompanied by a chart clearly showing the Technical Analysis used, with a short explanation of how that Technical Analysis is being applied. It is preferred that Incredible Charts software be used for chart postings.

"Long Continuous" (LC) positions maybe be nominated prior to 4pm on Friday to maintain a new or existing position into the following week, or the following Comp. "Good 'Till Cancelled" (GTC) positions may also be nominated before Friday's close, and will be treated as an LC with an automatic renewal, within the duration of the current Comp. Carry-over of GTC and LC positions into a new Comp will require notification by way of a post to the weekly thread prior to the last Friday close of the current Comp.

Any entrant who has not elected, by way of a post in the weekly thread, to use their "Stop", "Long Continuous" or "Good 'Till Cancelled" option, or has not had an automatic stop applied for a close below $0-05, will automatically receive Friday's close as their exit.

An entrant who has a position that goes into a Trading Halt will be required to retain that position until the stock resumes trading. They may then nominate to "Stop" out at the following day's open, or retain the position until a normal Friday exit is automatically applied.

Each entrant will be awarded a starting capital of $5,000 cyber-dollars and gains on positions will be added to that amount on a weekly basis, while losses will be subtracted from it. Anyone reaching a capital of $10,000 may split their cyber-capital into 2 positions of $5,000 each, if they choose, or continue to use the $10,000 on a single position.

Short term weekly awards for First, Second, Third and Last place (spoon) will be acknowledged and recorded. The amount of gain or loss on the weekly position will be applied to the entrant's accumulated capital.

Any new entrant to the challenge should feel free to ask for help regarding posting, as there are many here familiar with the conditions and methods used.

Please place your tips and chart here in this thread.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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p3t3
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Friday, July 15, 2011 - 04:31 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

espresso said: NAE CL (taken as LC - p3t3) please chart to follow.





quote:

dolphin said : Dolphin, CEO, LC

For next week please!









Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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jimmyswell
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Saturday, July 16, 2011 - 10:44 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



jimmyswell PRU L
p
When the markets are jittery, gold is a safe haven, as shown by Perseus Mining's steady climb over the past few weeks. Hopefully this week will be another 8 percenter.


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rockon
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Sunday, July 17, 2011 - 09:23 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



rockon SIH L

This one trying hard to make some sort of a base/rounding bottom on the very short term although on a 12 month time period, things look very ugly.Still under the 34ema, it is sitting right on the 21ema (not shown) which may give it a bit more of a positive slant for a short term move. After twice rejecting 145 last week , it did well to hang onto 14 on Friday.Maybe it's got the gap at 17 in its sights, lol.




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gamefisherman
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Sunday, July 17, 2011 - 02:15 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Gamefisherman AYN L







Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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palace
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Sunday, July 17, 2011 - 06:26 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



palace UML L


bit of a break on reasonable volume of 1.5 mill

after a couple of months of consolidating

mas starting to squeeze together ,hopefully




C:\Documents and Settings\Michael\Desktop\flying pig.gif

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lucky_phil
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Sunday, July 17, 2011 - 07:51 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Lucky Phil CGM L


CGM had a small pull back last week but a move higher on improved volume Friday suggests the upward trend has some more to go.

Good luck all for the coming week
Phil


Whoa you know you can't spend what you ain't got,
you can't lose what you ain't never had - McKinley Morganfield

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gdd3
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Sunday, July 17, 2011 - 11:12 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dolphin, CEO, LC

I'm ashamed to have picked this one on Friday before the close as its simply a case of "bottom-picking"... CEO went up by the "staircase"(on rumours/expectations), came down(after the fact)by the "lift" ,however I think too far, and has come to rest late afternoon at/near the 50%/61.8% retracement levels of the two previous swings which also happened to align with two trendline supports. Now hows that for "talking-up" some technicals to justify "bottom-picking" buying!





Cheers and have a good week.

Dolphin


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rockon
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Monday, July 18, 2011 - 06:35 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dolphin,
What is there to be ashamed about and in the current climate, what is so wrong with having a stab in the dark. Hell, 90% of my picks are just that. I reckon the real shame is in taking this comp and oneself too seriously and NOT entering due to poor market conditions.A lot can happen between a persons' posting time and Mondays open unless one has the time to watch the Market Depth before open on Mondays and then add the TA later. Maybe equally ashaming from the point of view of what this comp started out as.


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gdd3
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Monday, July 18, 2011 - 09:45 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Fair comments Rockon....I guess the ashamed part of my post was in regard to the supposed "educational" value of this Comp'n....hate for any newcomers to think that my 'strategy' of picking a stock that fell 40+% in one day was valid reason for entering a stock(in the real world).

But, alas as you have also correctly pointed out...if you take this competition and thyself too seriously and NOT participate then that is the real shame! There were only a few of us in the last quarter's comp,n who entered every week and I'm very sure all of those few wouldn't have actually been in the market or particularly in the stock's we had picked just for the sake of some who insist that you only enter stocks that you actually trade or have entered in the real world.

Have a good week; no have a great week!

Dolphin


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whiteowl
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Monday, July 18, 2011 - 09:47 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Owl FML L please Pete
Price and $Volume kick 3 days ago
But is it out of the triangle yet ?
It it clears 7.3 c its good for 8.4c
Cheers all



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stampy
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Monday, July 18, 2011 - 09:59 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Stampy Long Azz


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baggus
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Monday, July 18, 2011 - 10:00 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Baggus, EXR, L

I will post a chart a little later as I can't now but I think EXR is in the process of a rounding bottom and very close to break its downtrend trendline of six months. Some indicators are starting to turn from oversold areas also.


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jaded
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Monday, July 18, 2011 - 10:55 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



think I'll leave all of you but especially Dolphin and Rockon to it.Funny gdd3 that last week you posted how this forum was becoming defunct,moribund whatever yet here you are supporting rockon in making comp picks virtually by throwing a dart.
Why?so contestants don't get up themselves only entering picks that they've researched,TA'd to find a possibility.

This forum is dedicated to promoting Technical Analysis primarily for making share trading and investment decisions especially to buy or sell in the short term.
This comp was set up primarily to further this cause.

It was not established for once a week posters to enter with guesses and a hope they wouldn't get the spoon and even if they did it didn't matter to them personally etc blah.

Anyhow I choose to only participate by entering picks that I am willing to Buy.I try as per the comp rules to offer "educationally" my reasons and I'm proud that my reasons vary away from some set pattern of higher high,indicator twiddle.

That I don't enter a share or reason a pattern that i don't believe in just on the basis of 'comradeship' mob mentality,avoiding being thought of as up myself? that i get these petty,snide comments from rockon and gdd3?

Well,fellow competitors the Market is dismal,opportunities are scarce.If at all possible avoid over trading,buying anything at the moment especially if you're a discretionary rather than mechanical operator.

happy trading


" Hear what you Say...
But see what you Do!"

Sir Zelman Cowen c 1970.

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gamefisherman
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Monday, July 18, 2011 - 04:37 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Just a quick comment sharing my perspective on the weekly competition. To Dolphin, imho you have absolutely nothing to apologise for. As someone whom joined this competition about 4 months ago, it has forced me to constantly rethink my trading strategies and personally, I have learned may new techniques etc from those experienced traders here. Whilst each participant will have their own motives for entering the competition each week, I am sure that for any newcomer, once they have stayed around a while and watched what happens on an overall basis, they will work out for themselves, what trading strategies that they think could work for them and what might not. Your CEO buy in the competition imo is just another example of the many different strategies traders can deploy to make a trade happen. I dont know anyone whose trades work all of the time and I guess at the end of the day, consistency of results in my mind shows who is winning and making money and who is not, that is why p3t3 posts ongoing reports as to who is in the green and who is in the red. I hope that we can all continue to share strategies, the rationales behind them and enjoy being part of a group of like minded people, whom wish to learn and make money. Best Wishes to All.


Protect your capital and the rest will take care of itself with a solid trading plan that is adhered to every trade (PS THIS IS WRITTEN TO KEEP REMINDING ME TO STAY FOCUSSED AND FORGET NOISE)

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p3t3
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Monday, July 18, 2011 - 07:35 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Week 3, Monday :



Our apologetic aquatic mammal seems to have made good use of an alternative entry strategy.
Dolphin, what can we say but - a hair-raising start.

Great stock picking by everybody who finished above the red, and that's the majority, for this table.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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stampy
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Monday, July 18, 2011 - 09:05 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



AZZ

Above all the important MA's
Looks to have tradd sideways getting ready for the next move i think.




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rockon
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Tuesday, July 19, 2011 - 06:54 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



This comp has been described perfectly. A bunch of one post a week gamblers who really don’t mind where they are positioned at the end of the week judging by the lack of stops activated…blah.

Or maybe we could put the comp on ice every time the A/Ords drops below the 200d just so we don’t end up with just one or two players every week or none some weeks.

And I would put money on the argument that the winners over the last 2 weeks (both over 20%) had no more certainty for a win than the losers did of having a loss when their entries were posted which makes all entries just a punt in the current market conditions, IMO.

And I would suggest that anyone with the arrogance to think that “petty and snide” comments were directed at them personally, which they weren’t, really needs to be told to pull their head in.


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gdd3
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Tuesday, July 19, 2011 - 09:59 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dolphin, CEO, SELL....please!}


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p3t3
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Tuesday, July 19, 2011 - 04:44 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Week 3, Tuesday :



An equally notable exit from Dolphin - a truly impressive result.

GameFisherman is in pursuit, with a very creditable result,
but there's a lot of difference to make up.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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espresso
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Tuesday, July 19, 2011 - 09:39 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Rockon,
Considering I was one of the fortunate ones to have won in the last weeks comp, the truth of the matter is I didn’t anticipate to win a medal no more than I would anticipate to getting a wooded spoon.
However I did expect to get a small gain furthermore I have bought the share that I picked and am happy to disclose the contract.
Cheers


http://www.australiancattledogrescue.com/helpus.htm
Australian Cattle Dog Rescue are always looking for caring people to look after rescued dogs in the short term.
Pounds and shelters can only hold them for a very short period before they must be put down if no home is found.
Do you have room to look after a rescued dog until a permanent home can be found for him or her?
Australian Cattle Dogs - Loyal-Fun-Loving & Best Friend

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p3t3
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Wednesday, July 20, 2011 - 10:22 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Week 3, Wednesday :



GameFisherman is being joined by Palace in pursuit of Dolphin.

Baggus - you have been stopped out (just) on a close below $0-05.
Very risky picking stocks too close to the $0-05 cut-off level.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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p3t3
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Thursday, July 21, 2011 - 09:40 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Week 3, Thursday :



Palace has made some progress in his pursuit of Dolphin, and is showing a very nice gain indeed.

Nice to see a preponderance of green in this table.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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jaded
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Friday, July 22, 2011 - 08:39 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



p3t3- How much difficulty would come into the book keeping by allowing an intra week BUY as well as Stop Sell?

Intra week BUY could allow picks that have definitely formed some pattern such as TAZ not on Friday for LC entry or for Monday's "ordinary" entry.
Intra Week Buy entry would more simulate Real Trading rather than the current only buy Friday's Close or Monday's Open.
Allowing such entries would also encourage a competition of picks Really Bought and Held by Contestants.

I propose that entries made Before the Open on ANY day have that price as their "start".
Other than by Friday LC' or GTC'ing OR the current Stop early close advising,such entries would be Closed Friday as now.

Such a Rule change may intro Day Trading,buy/sell in one day by contestants.The rule of only one entry/week will prevent multiple entries by one player causing excessive paperwork for you though pete.

Besides we've had a day trade entry this week.It seems based on pure chance addmittedly,with the contestant's pick being on no conviction or even "proper" reasoning ie the pick was not actually found,analysed and bought.

So I reckon this Comp and all members would enhance their education and Trading Methods by allowing any day Buying as well as Selling based on
Entry BEFORE Open gives one Opening Price.
Entry during Trading gives NEXT DAY Open Price.
Sell as per current Rules.

If this allowed I enter
DYE GTC for today's Open to be carried over to well GTC


A series of Inside Days during a 3 day VWAP calculation period for a new Institutional Investor has just completed.[See BBQ]

So I'm figuring the Capping is for lifting today and price may rise above 150day[30wk]EMA next week and A Return to the Uptrend Line.
Further there could be some news released soon re a solar application by DYE in "alternative vehicles".Rumour is by BMW using DYE.Such news could bring those Fib extensions into play.

I bought a parcel yesterday but want to maximise my "Game" return by getting Today's Open not Close.

Do ya really wanna play?


" Hear what you Say...
But see what you Do!"

Sir Zelman Cowen c 1970.

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shawky
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Friday, July 22, 2011 - 04:31 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Peter
Is it too late to put a close on ILU for this week or does it have to hold until next?
I got tied up arguing with dodo.com.au about their new mail scanner features. I've been unable to send work documents all day.


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p3t3
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Friday, July 22, 2011 - 04:56 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

Jaded said : How much difficulty would come into the book keeping by allowing an intra week BUY as well as Stop Sell?


I've been giving this one some thought....but the answer remains "I'm not sure". The only way to find out if it's workable - and manageable - would be to....um...."suck it and see", as the saying goes.

If there's support from current participants for the concept I'm willing to give it a go. The closer we can get to real-world trading conditions, while avoiding administrative overload, the better....I reckon.

What do others think?


best
p3t3


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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p3t3
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Friday, July 22, 2011 - 05:07 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

Shawky said : Is it too late to put a close on ILU for this week or does it have to hold until next?


Sorry Shawky but your next available exit is Monday morning I reckon. Which means no other pick is available to you for the coming week.

You do raise an interesting point : real-world traders have backup facilities - alternative internet services - to avoid just these circumstances. I primarily run on an ADSL2+ service, but I have a 3G Mobile Broadband service with a different provider in case that goes down for some reason. For real-world trading there is always the telephone, if all else fails. The Forum equivalent could be for a Forum "buddy" to possibly do a post for you, if you can organise telephone contact with one.

best
p3t3


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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p3t3
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Friday, July 22, 2011 - 05:45 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

Jaded said : If this allowed I enter
DYE GTC for today's Open to be carried over to well GTC


Too soon for a ruling on intra-week entries just yet.
Need to get more input from other entrants.

Also everybody would need to know in advance of the newly available entry,
so that everybody would have the same opportunity to access it.

Do you want it as LC or GTC on today's closing price?


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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palace
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Friday, July 22, 2011 - 05:57 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi p3t3

firstly good job on your weekly updating and record keeping

i would be in favour of jadeds suggestion ,if its not too much work for you

also why dont we go back to the weekly comp forum ?

must be confusing for anyone browsing

cheers mick


C:\Documents and Settings\Michael\Desktop\flying pig.gif

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p3t3
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Friday, July 22, 2011 - 06:00 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Week 3, Friday....before any protests :



Outstanding result from Dolphin, particularly the exit call.
Impressive result from Palace too.
Gains shown by Shawky, Peterloh and GameFisherman are none too shabby as well.

A much healthier proportion of the table stayed above the red for the week.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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rockon
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Saturday, July 23, 2011 - 07:57 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I would support Jadeds' suggestion for a change of format.The rules written above, however will need major surgery if this is to go ahead, also with no objection from me if it brings in more punters and ensures some longevity to the comp.

As the rules stand (and I am not trying to defend the rules here), the comp is aimed at the (for want of a better word) mum & dad active investors with a scan over the weekend and a limit order in for Mondays' open with mainstream traders joining in with roughly the same criteria. I see Jadeds' suggestion as moving the pendulum a bit towards the mainstream with the m & d's joining in which I think is a good idea.

Another rule which would have to be chopped/changed is concerning the $$$$$. The proposed entry of DYE shown above means that the competitor would have two open entries as of Friday, and according to the current rules, unless that competitor has made $10K they simply do not have the money to enter another trade, and again if this is remedied by a democratic rule change, fine by me.

Another thing to consider is the extra pressure on the scorekeeper,whoever that may be in the future.Our current scribe is doing a bang up job of keeping things updated and adjudicated but too many fiddly bits may stop a future scorekeeper from taking the job on in the first place, effectively stopping the comp in its' tracks.

So yes, I support the suggestion, and yes I would support any rule changes to allow this.


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p3t3
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Saturday, July 23, 2011 - 03:53 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Week 3, no protests received....so final outcome :



An interesting week as results go,
and so nice to see the increased number of positive results.

Regarding intra-week entries, as Rockon has pointed out it will require some surgery to the rules.
Than means it won't happen this weekend.
I reckon all participants should have an opportunity to read and absorb the rule changes prior to
making decisions for the coming week - in an effort to keep an even playing field.

I'll do some work on the rules in the coming days, and should be ready for Week 5 implementation.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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p3t3
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Saturday, July 23, 2011 - 03:58 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

Rockon said : The proposed entry of DYE shown above means that the competitor would have two open entries as of Friday...


Actually Jaded did not have an existing entry last week, so the proposed entry would have been his first for the week. I'll need to put some thought into the possibilities of overlap - for instance a Monday exit with an LC pick to get Friday's close as the open should still be valid.

Hhmmm. Some care needed, seems to me.


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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rockon
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Saturday, July 23, 2011 - 05:29 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Yes, my mistake regarding Jadeds' entry.My intention anyhow was to highlight the current rules inefficiency regarding an AM entry while waiting for a PM close but I got it wrong.

Thought there would be a bit more discussion by now. Maybe I am just putting too much importance on the rule book thinking that any rule changes should be by majority vote.


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jaded
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Saturday, July 23, 2011 - 05:53 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



that's right,pete you are still restricted to only one entry/week.It's just that you can enter on any day not only Friday Close or Monday's Open.
Currently a contestant can Close on any day [subject to rule provisos]so why not be able to Open on any day?

There'll be tricks go on like wanting to enter the next day's open in a share that has issued late news say at 2 pm or after 4pm.but so what?
you may actually be planning to buy the next day's open in this "good news" share.

There are perils and pitfalls in doing so as in Gap open and trading reversal to a lower close than open so such a pick may not greatly advantage the "Trader" over the mum'n'dad end of day/week punter.

Besides I don't think it's very educational to insist shares are bought/entered based only on Monday's Open,the most "exuberant" day and time for sheep to be shorn.

Also this comp has only a side issue in educating newbie/novices.It's not supposed to be totally geared to such a class. Those of us who may be considered "advanced" or whatever are also suppose to benefit from the Comp as education.

Pete,this comp was set up by stickman years ago.he only posts seldom these days but look up his posts and signature.
"Trade to Learn not to Earn"

One never stops learning in Share Trading [or in life for that matter] and I reckon the proposed rule change would enhance all contestants and readers experience.

Of course if such a rule change complicates the record keeping function? On that grounds alone it must be dismissed.

happy trading.

ps-I'm assuming my DYE entry was not valid so I have the option to enter a different pick based on Monday's Open


" Hear what you Say...
But see what you Do!"

Sir Zelman Cowen c 1970.

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ehmu
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Monday, July 25, 2011 - 10:16 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Pete:

Is it too late to open a position for HUN_AX ?

Breaking dt. Idiot crossing on the daily, above 144ema.




_____ n a m a s t e


Every trade involves a gorgeous seller with goodies, and an ugly buyer with money.


Not a recommendation to buy or sell equities

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p3t3
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Monday, July 25, 2011 - 03:52 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

ehmu said : Is it too late to open a position for HUN_AX ?


Sorry Hal

your entry is time-stamped 10:16 - 16 minutes after the market's Monday open.

Current rules provide for entry at Monday's open, so any valid entry must be lodged before that time.
Until I get the rule modifications in place to allow intra-week entries the entry is not valid.

best
p3t3


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

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ehmu
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Tuesday, July 26, 2011 - 02:10 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



P3T3:

No problem, getting my head around your markets being 16hrs ahead of my time, and different trading hours seems to be too much for the rusty old gate.

I'll get it together one of these times.

I see this morning in Calgary that HUN_AX didn't do much during your monday trading, and the "profit prophets" are announcing odds in favor of short positions. So maybe the universe was just taking good care of me.

Price could easily pull back during the week to $1.35 to back test the dt and the 150sma/144ema.

I'll see what this friday brings, midnight thursday my time is the deadline I guess.







_____ n a m a s t e


Every trade involves a gorgeous seller with goodies, and an ugly buyer with money.


Not a recommendation to buy or sell equities

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p3t3
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Tuesday, July 26, 2011 - 11:25 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




quote:

ehmu said : ...too much for the rusty old gate.


Oh, yeah....pull the other one (fine old Oz expression of disbelief). I've read your posts - you'll have a tough time trying to convince me there's anything wrong with your cognitive or learning capabilities.

That said I agree that when it comes to different markets and different time-zones timing can be tricky. I've only ever really dabbled in trading US markets for that - and other - reasons.

I'll still look forward to future entries though.

best
p3t3


Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for -
in order to get to the job you need to pay for the clothes and the car,
and the house you leave vacant all day so you can afford to live in it. [Ellen Goodman - American journalist]

 
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