party25 Feb 2011 02:37
seems you really had a party today :), nice posts fundamentalists against chartists, the way i see it is a fudamental point of view should be considered first for medium/long term trading, then entry and exit prices should be left to chartists, swings also. A chartists will ALWAYS get a profit from a share regardless if it is a loser or winner, even if it is few day trades, finding that small, small hole in the lines of the enemy only a fine chartist can do it. I personally appreciate the posts of netley and superwhip, very, very valuable are to me, give me confidence in the company and even though i placed 3 tranches already i have strong feelings this will be a winner because of fundamentals point of view.
Now because of my own chartists skills i traded this share 4 times before and after christmas for several pennies profit, i think sirbob was trading it around the same time as well, then i placed another 2 trades on the way down last one about 10 days ago and have not touched it since. Here is the difference between a chartist and "fundamenals", i agree i could of taken more hits on the party but still not a bad trade for unknown share to me. An example would be rbs and lloy to a certain degree, but rbs is a better example, i traded it ferociously over the last 6 months and i got over 70% of its potential 100% profit it gave, i was like a cowboy on the back of a bull, followed every single small step, i could say over the last 6 months i have no loser on both rbs and lloy, every single trade was a winner, a small one or bigger one depending on the entries or exits. And all that thanks to TA and countless hours spent on studying every single candle, every single minor and major support and resistance, every possible formation or wave count. I do admit my failures in shares like sar and des though, even though i recovered some losses, not knowing the fundamentals killed me :).
Really fundamentals type of a guy + a chartists is a deadly combination, thats why i told netley we can form a team not only on party but potentially on every stock in sight and make killings.
Btw netley STAN had its support broken,confirmation tomorrow (do expect the whole bank sector to go on another red day because of lloy) would invite sub 1500.