paper trading
 demo trading image


 MINI graphic

Join my newsletter (learn more)       PAPER trading | paper trading    






About this site
Learn about investing in financial markets. I am trying to add new articles, information about inves...
Learn more


  • General
  •    » Technical analysis
       » Fundamental analysis
       » Intermarket analysis
       » Japanese Candlesticks
       » Money Management
  • Stock market
  • Foreign exchange
  •    » Forex strategies
       » Forex Journal
  • Options
  • PAPER trading
  • Platform reviews



  • Investing blogs

    + The Visual trader
    + Commodity Trader
    + Market Rider
    + Stock Insight
    + The Kirk Report
    + Long Term Investment Strategies
    + Short-term trading
    + Wily Trader


    Forex for beginners

    + Play/test with $25


    Entrepreneur blogs

    + Guy Kawasaki
    + Business Advice Pro


    Investing Games

    + Investing Experience


    Competition: First Day’s thoughts


    Tags -          

    Even though the competition started yesterday, I didn’t do any trades. Today I thought I’d try it out a bit. Firstly, I have another site where I have generated some industry stock lists and such...and while, let me be honest, the lists don’t really give too accurate information (in addition to the 15 minute delay there are often also update problems) I found the sector/industry Metal Fabrication/Industrial Goods was up 4.2% today and from there I found the stock MINI.

    Now I checked the stock out via Yahoo Finance charts. I must admit that this is pretty much the first time I actually tried to use my gained knowledge in practice. And it’s terrible. I mean it’s not terrible in the meaning that trading is terrible, but in the meaning that...the charts really do look confusing. Especially the yahoo charts – while they are good, they are too small to draw the resistance/support lines, to actually see them with your eye. Plus I have pretty much forgot about the main patterns myself, so will need to overview them again. And I discovered I need a printer to analyse the charts better. Duh.

    I wanted to buy MINI at the price of 32.78 or just a bit above – see the green rectangle on the chart. However, due to the 15 min delay in yahoo charts and the 15 minute delay in the stock game I gave in my order, eventually got the stock, gave in the sale order, again 15 minute delay, making my loss even bigger. As you can see – fast platform and fast orders are really important, but due to the delays in the competition the timing by when the actual trades were done was really bad, so I took a loss. Had no intention to keep the stock for a longer time than just 10 minutes-1 hour one way or another. Just didn’t consider the big delay times.

    Good thing about the terrible-terrible stock charts is that even though I still suck at analysing stock charts, the most basic things are starting to look good. For example, check this chart in this article – it’s the MINI chart. The first resistance line ( too short on the chart, but imagine it’s longer) does give a buy signal ( just for minutes, but still...that’s why you have stop loss options that I don’t in the competition, unfortunately ), the first support line does give a good sell short signal, again, just for minutes, but still. The resistance line 2 – the last price was  pretty much the fourth touch to the resistance line thus I considered the resistance strong and gave the signal of either sell or sell short. At the time of working with the chart I didn’t really know if it’s actually true...but now, writing this post, 30 minutes later, the price has dropped 0.5%. See the second chart about what continued (after the blue dot). That’s again good sign, good sign for me I mean – there’s hope that one day I will be able to make right decisions, if nothing else lol.

    Note that the volume on the resistance line, in place of all the four tops, was about 15-30 times bigger than the usual volume and this again, to me, seemed like a good reason to give the sell or sell short signal.

    Now, first conclusions about my analysis of the MINI stock – the main things – support, resistance, volume did help understand what it happening on the chart (even though with USD 3500 investment I lost around EUR 50 due to the 15 minute delay in buy and sell orders in the stock competition ). From negative side I must say that I wasn’t able to recognize any patterns and need to cover that material again. Also I didn’t do enough research, didn’t think about intermarket analysis etc. Right now I probably just don’t know where to find all this information in its best form, but I’ll get there!

    Til’ next time.

     


    Now what? Digg it  |  Add to My Yahoo  |  Add to Google Reader  |  Add to Del.ICIO  
    Comments (0) / Link to this topic - http://www.learning-to-invest.com/
    Competition-First-Days-thoughts--31.html




    investment advisory
    www.thedtscorp.com -

    Forex trading systems

    #1 Time-tested Forex trading system, with DOCUMENTED PROOF, that has the potential to turn $1,000 into $1,000,000 in just 24 months. Limited-Time Offer Price: $97

    #2 Powerfully Effective Forex Trading System That's Shocking Professional Traders Around The World......Completely Guaranteed To Generate 83-114-157 Pips A Week! Price: $97

    #3 Two Forex trading methods which have been hidden for years, known to only a small group of Wealthy Trading Elite! Grab 100's of pips weekly by spending only a few minutes a day at your computer! Price: $97

    #4 These Ruthless Trading Tricks And Tactics Instantly Transform You Into A Profit-Making Machine Scoring Wining Trades After Winning Trades. Price: $97

    #5 The AWARD WINNING "work from home" solution by someone who used to work for the Deutsche Bank as a forex advisor. Price: $198 (50% coupon available)

    latest submissions
          » Volatility is your friend

          » Tips from successful day traders, Part 3

          » Tips from successful day traders, Part 2

          » Tips from successful day traders, Part 1

          » Make money not debt

          » Make money not debt

          » No skills? Free online trading school is there to help you

          » End of month and need a loan?

          » M&T e-Money Market

          » 5 Traits of Highly Effective Financiers

          » Great forex product reviews

          » It's all about money management

          » What is going to happen next?

          » Brutally honest analysis of yesterday

          » USD at its lowest levels of 2 years

          » Testing time, Day 3

          » Testing time, Day 2 UPDATE

          » Testing time, Day 2

          » Testing time, Day 1

          » My own trading plan

          » Technical indicators - Aroon, ATR, CMO, ADX

          » Creating a trading plan

          » Results of the trading competitions and next week

          » Trading rules - something new to think about

          » Forex strategies: Short term strategy

          » The game of probabilities

          » What can you learn from poker?

          » Elliot wave - guidelines for wave framework

          » Introduction Elliot Wave Principle & Fibonacci ratios

          » What does Straddle mean?

          » Forex platform review: Easy Forex

          » How to find and confirm a trend?

          » Different look into trading and life in general

          » Introduction to Swing Trading

          » Introduction to 1-2-3 Trading Method

          » More trading rules

          » Candlesticks – the importance of Gaps

          » Sakata’s Method / method of Munehisa Honma

          » Money Management

          » Candlestick Continuation Patterns

          » Forex and intermarket analysis

          » Candlestick Reversal Patterns III

          » Forex strategies: The Sidus Method (EUR/GBP and EUR/USD)

          » Forex strategies: Big Ben Strategy (GBP/USD)

          » Foreign Exchange: Carry Trades

          » Candlestick Reversal Patterns II

          » Candlestick Reversal Patterns I

          » Introduction to Japanese Candlestick Charting

          » MACD histogram

          » The Three Moving Average system

          » Technical indicators: Williams %R indicator

          » Technical indicators: Parabolic SAR (Stop & Reverse)

          » Common sense trading rules (Michael Jenkins)

          » Geometry for predicting market behaviour (Michael Jenkins)

          » Emotional vs rational trading

          » Competition: First Day’s thoughts

          » Trading competition, 4 weeks

          » Bollinger bands

          » Relative strengh indicator - RSI

          » Introduction to Intermaket analysis III - global markets

          » Introduction to Intermaket analysis II – related markets

          » Learn to do your maths

          » Introduction to intermarket analysis

          » Introduction to technical indicators II

          » Introduction to Technical indicators I

          » Recognizing chart patterns II

          » Recognizing chart patterns I

          » More on volume & OBV

          » Introduction to charts

          » Learning from winnings AND losses

          » What are sideways movements?

          » Importance of volume

          » Introduction to Dow’s Market trends

          » Bull Market and bear market

          » Who is Charles Dow and why should you know him?

          » Stock background search

          » Introduction to stock options

          » Forex - pips, spread, margin, leverage

          » Basic introduction to Forex trading

          » What is Pattern Day Trading

          » Signs a company is going bankrupt

          » How to analyse stocks and forex?

          » Which online trading platform to choose?

          » How do I set my financial goals

          » Investing basics - think before you act

          » Learning to invest




    Buy Silver
    goldmoney.com - why buy silver from goldmoney? all customer silver is insured and audited. open a free account to buy silver.
    buy future payments
    investment advisory

    Privacy Policy | All rights reserved © Learning To Invest 2006, Email: / paper trading