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Pavilion103's LIVE ASX Momentum Setup Trading Thread

Discussion in 'Trading Diaries and Journals' started by pavilion103, Feb 11, 2015.

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Aussie Stock Forum Sentifi Top themes and market attention on:

  1. pavilion103

    pavilion103

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    Previous live ASX trading threads seemed to gather some strong interest. If this one also gains strong momentum (pardon the pun) I will keep it running for a while.

    Having not traded a single share in approximately 9 months I am back trading end of day.

    The main consideration is the position of the XAO which appears that it might have some upside potential. This is a basic filter that I use when deciding whether to be active in the market.

    I have also noticed a number of stocks forming setups which are of interest to me. This, combined with the XAO has prompted me to re-enter the market.

    In this thread I will be posting live setups (without the code) and then revealing the code 1 week after the setup is triggered.

    I will be using a hypothetical $50,000 trading account with 1% risk of $500 per trade.
    I will also be assuming that I can leverage at 2:1 under a company name (in order to increase exposure).

    Having not traded stocks for a while I am taking a bit of a punt posting live trades, however as with everything I've posted on ASF, I am to show people the thought process or trading in real time. Whether or not this exercise proves to be successful remains to be seen.

    Wish me luck :xyxthumbs

    p.s. I will add in a couple of setups I posted in the other thread and have already taken in my live account.
     
    subterfuge likes this.
  2. pavilion103

    pavilion103

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    The three that I entered live and are in the "Hypothetical..." thread.

    Two have been revealed. One is still trading within the first week of entry.

    SEN.png

    PAN.png

    setup 3.png
     
  3. pavilion103

    pavilion103

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    This is the type of summary that I will provide at the end of each week.

    ASF portfolio.jpg
     
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  4. ThingyMajiggy

    ThingyMajiggy

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    I see you've lashed out for TradeGuider :) Hopefully you get some good profits to cover the cost :D Good luck with the thread :xyxthumbs
     
  5. pavilion103

    pavilion103

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    More setups

    setup 4.png

    setup 5.png

    setup 6.png
     
  6. pavilion103

    pavilion103

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    setup 7.png

    setup 8.png
     
  7. dutchie

    dutchie

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    Good luck.
     
  8. dutchie

    dutchie

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    Great thread. Keep those setups coming.

    I especially like Setup 4.

    It's coming off its all time low (0.07).

    (I think it might revisit 0.17 or so before it breaks 0.245)
     
  9. tech/a

    tech/a No Ordinary Duck

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    Interested in your trade management
     
  10. Nortorious

    Nortorious

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    Nice work pav, certainly plenty of interest here and I look forward to following your story.

    Nice daily movement for SEN today. I didn't have any capital available to get in and my super account isn't able to trade this speccy :banghead:

    Looking forward to watching the performance of this method.

    I've been tracking some of my watchlist and seeing some explosive moves so just a matter of time before some of my portfolio follow suit....
     
  11. tech/a

    tech/a No Ordinary Duck

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    Observations in the past
    Is that when we see many topping patterns
    It's often before a turn in the market.
    The more we see as we did in 2008
    The wronged it is.

    The same is often true with bottoming and
    Breaking out or continuation moves.
    The more you find he more positive the market.

    Opportunity may be showing itself.

    How are you finding your patterns PAV.?
     
  12. pavilion103

    pavilion103

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    Some of the ones I have identified have had what appears to be accumulation bases and consolidated looking ready for an up move. Others are more advanced and are forming consolidations after the initial up move from the base.

    I think we are at a crucial time now. These consolidations are forming as the market is consolidating a little. Whether the XAO needs to push down a bit or not will be interesting. If it is to push up I can see a number of setups really taking off.

    I'm still not 100% confident so risk management will be very important.
     
  13. 5oclock

    5oclock

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  14. Newt

    Newt

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    Pav (or others trading similar), I'd be interested if you ever glance at Depth of Market?
    Senetas for example is currently showing pretty equal buyer and sellers, with some serious overhead around $0.10

    My exploits starting to learn futures showed if nothing else you can get a short term confirmation of large support and resistance during entry/exit windows, so I've been looking up the DOM more frequently for my share trades this year. Its been interesting that a few that got moving cleared overhead (seller) support which paved the way for some larger percentage jumps over the last week. You could just as easily say that's indicative of the entire market moving I guess.

    Expect much of what your doing is off price action/volume principles though?

    Another observation/curiosity - above $0.10 of course the ASX minimum price spacing changes from $0.001 to $0.005 which makes it a little harder to closely trail stops as you cross the transition point.

    2015-02-12 20_23_43-Clipboard.jpg
     
  15. pavilion103

    pavilion103

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    Apologies for the poor quality.

    portfolio.png
     
  16. pavilion103

    pavilion103

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    Setup 1 SEN - trailing stop 0.075
    Setup 2 PAN - trailing stop 0.46
    Setup 6 NAN - trailing stop = initial stop
    Setup 5 (?) - trailing stop - initial stop
     
  17. pavilion103

    pavilion103

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    Unfortunately Mondays and Tuesday night's for the next 6 weeks are tough for me to even post updates for the next 6 weeks (before DL savings ends) due to my course.

    I'll do my best.

    NAN really moving today.
    Some others consolidating, maybe ready for the next push up.
    Plenty pending too. I will continue to review these.

    There seems to be a large number of setups appearing.
     
  18. pavilion103

    pavilion103

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    Best I can do with limited time sorry. Apologies for the small charts, may not be all that clear.

    Some stops moved and minor adjustments to pending setups. Apologies no time to update now. I hope you guys trust my honesty.

    I don't intend to hold all these setups but I'll see what triggers.

    portfolio.png
     
  19. pavilion103

    pavilion103

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    Setup 14 = half position size

    Setup 6 = double position size
     
  20. pavilion103

    pavilion103

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    I haven't run a new scan. We have plenty of prospects on offer. Time does not permit me to look for more tonight.

    Changes:
    Setup 5 = MNY


    Trailing stops:
    SEN - 0.076
    PAN - 0.49 (BE)
    MNY - 1.67


    ENTRY CHANGES:
    Setup 6 - 0.39/0.325 (now change to regular position size not double)
    Setup 7 - 0.40/0.35
    Setup 8 - 2.03/1.91
    Setup 11 - 0.56/0.51
    Setup 13 - 0.96/0.90


    A lot of these patterns are consolidating into a triangle type pattern giving me a tighter (and better) setup.

    Well positioned if the market breaks higher.

    Current account balance - $52,016 (up 4.0%)
     
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