Hi All,

Market continues to trade up and down but drifting sideways and downwards on a weekly pattern. As there has been no significant change in the direction, I will restrict my updates to weekly on Fridays. There will be midweek updates on stocks doing well and a brief description of the market.

MARKET WRAP 14/08/2015

Contrary to the Market volatility during the week, Friday trade remains calm with less volatility. The issue we experienced during the week was due to the devaluation of the Chinese currency, by approx. 5% in three straight days. Wednesday showed a very volatile day of the week but the market ended up from a very low point.

Actually, on Wednesday, I was completely out of the trade as the market volatility hit all my stops and triggered as sell of all my stocks. At the end of the day, the market traded up even though all my positions were far less than the price at which I sold them.

Lesson Learnt

As previously said, 75% of stock follow the market direction. This is a time when emotions rule, but as i had set my stops well in advance, i was taken out at the right time and lost appox 60% of my gains. When the Market was caln on Thursday, bought back 3 good stocks and by today i was up in price.

For me, I do stet my stop as soon as I make my purchase and from that point on my stops are locked in. I will rather sell and let the market calm down rather than holding on to a loosing position hoping the stock will come back.

Please note, leaders during a particular bull run does not necessarily mean they will come back. Ideally we are still in a very bearish market with closing price very close to the support line. Once we break resistance, we will be in full swing buy.

guday Jideams, how is trading, i just open account with suretrader, but i need to fund it so that i can have access to their platform. my main question is that can i trade as a day trader.

Market has been really crazy of late. I've been green all week $450 for today. would have made more, unfortunately i was away from my computer when the move happened. Still glad for the profit tho.

And for those planning to venture into trading, i will advice you paper trade for awhile and study all you can find about trading. And when you eventually start trading real money you need to be patient because you will lose for a while before you get it.

GUYS

Really sorry my laptop has crashed and there is little i could do with ipad. i should be up and running by weekend.

MARKET

market remains weak and we seem to be breaking onto the low as i can see a descending triangle. i cannot do any graphy cal analysis for now.

Please note....... no new buys for now, identify strong stocks and get ready for a new uptrend. this might take weeks no one knows. stay in cash if u are stoped out

zPixel:
And for those planning to venture into trading, i will advice you paper trade for awhile and study all you can find about trading. And when you eventually start trading real money you need to be patient because you will lose for a while before you get it.

@zpixel... can u reach me on jimoh.stocks@hotmail.co.uk. send me ur number and ill reach u on whats app. i believe there is something big we could share. await ur mail

@jideams
done

Ended the day with a $90 loss. Kept getting stopped out. The most important thing is my losses shouldn't be bigger than my winnings. Friday should be a fun day with the massive sell-off in the market

zPixel:
@jideams
done

Ended the day with a $90 loss. Kept getting stopped out. The most important thing is my losses shouldn't be bigger than my winnings. Friday should be a fun day with the massive sell-off in the market

Fully up and running now, you I would look into the analysis this weekend and post my finding. Zpixel, actually I though you would have made killing this week as it was obvious the market was week. Really, I do not know you trading strategy but I can see I can learn from it. This is what I see, from my understanding you are trading options, and if not then you are strictly day trading. If it is options then it would be really good as I can use it as an insurance against my buys ( explain later). If its not options, then you will be needing a lot of money to trade.

Please confirm if you are trading options or you are doings and outright buy. By outright by I mean you but 10,000 dollars worth of facebook in the opening trade and sell it at the end of the day. If it was options then you will be trading contracts instead of underlying shares at 100/shares per contract.

THE MARKET

All, I have decided to use the graph below so that you could clearly see the performance of the three major indexes in colour. This is a typical example of the term " Market discounts all" . I need all to pay attention to this time as we might not get this type of market behaviour for a while. Note, I do not mean the bleeding has stopped, but i Mean that we need to pay attention to the behaviour of the market leaders, you will see that they are also going down in price because the general market is going down. This is the number one principle that drive stock price, " market discounts all".

Moving forward, the rule states that no buying takes place at this time. You will be attracted to buy due to the drop in price, but do not be tempted. This is like a falling knife, if you catch it on its way down, it could cut through your hands, but if you catch it on its way up, the damage will be less.

I will keep a close look out for what we call a " follow through day" this is the first day after the market has been loosing money for a while, during which you could make your fist buy. It is hard to identify it buy we will be on the out look. First we need a confirmation the market is in correction is seems more like it. I will do my analyisis and post an update tomorrow to confirm the market state. It is very very tempting to walk away now and wait till the market comes back, but this is the best time to be on the look out and identify the best stocks to buy on the uptrend.

Looking at the graphs above, neither of the three graphs showed a state of buying at Firday close of business. There was no sign of any buying activity on Friday which was my expectation. based on that, I expect to see another level of selling on Monday. People sold into late Friday and there was no good news to bring them back into the market which was supposed to be the case.

MARKET WRAP - 23/08/2015

The Market is confirmed to be in the 3rd state of Market " Market in correction ". Right now I have been stopped out of all my stocks, and If my laptop had not crashed, I would have soled on Monday when it was evident that the rate at which stocks were being sold were increasing.

On Friday, each of the index dropped 3% of their value taking us back to Feb 2015 level. The worrisome part of this was that there was no buying pressure on Friday, the market was sold to the last minute. If you have a look at the last the 4 graphs posted above, you will see that the market gaps down on each day, signalling a weakness in the Market.

ACTION

This is the best time to place a close eye on the market on daily basis. The market could turn around at any time so we need to be vigilant to know exactly when to get back into the market. Note, do not try to predict the bottom, the probability that you will enter at the bottom Is very slim. You need to be sure that the stocks had bottom and have bounced back, do not be worried if you missed 2 or 3 days of the rally, this is your insurance premium. If you paid 500 dollars for insurance in a year and do not have an accident, there is nothing you can do about that.

The best thing to do is to keep an eye on the stock you have missed before and be ready to jump in once we have the next uptrend. Do not bottom fish, it can be dangerous

Zpixel, actually I though you would have made killing this week as it was obvious the market was week. Really, I do not know you trading strategy but I can see I can learn from it. This is what I see, from my understanding you are trading options

The reason for the loss was that I got stopped out three times because i was early on my entries with a very tight stop, but the stock finally went my direction tho.
I only trade stocks with a margin account (6:1 leverage). Because of my small account, i trade only between 100-200 shares. So that is the reason i only trade stocks that have potential to make big moves.

The market was very volatile yesterday and i tried my best to take advantage of the panic. Yesterday reminds me of why i never hold anything overnight. Anyway, i finished the day with $329. I mostly traded $TVIX. It's an inverse of the $SPY

zPixel:

The reason for the loss was that I got stopped out three times because i was early on my entries with a very tight stop, but the stock finally went my direction tho.
I only trade stocks with a margin account (6:1 leverage). Because of my small account, i trade only between 100-200 shares. So that is the reason i only trade stocks that have potential to make big moves.

The market was very volatile yesterday and i tried my best to take advantage of the panic. Yesterday reminds me of why i never hold anything overnight. Anyway, i finished the day with $329. I mostly traded $TVIX. It's an inverse of the $SPY

Good... Think you are doing well really. Right now am completely out of the market as it is too volatile. The good thing is that if you watch this market and get in at the right time. You will be well positioned for the next few years. My plan is to watch this and enter a the right time. Right now there is too much fear, but i was sure that if i knew your investment strategy I would have made a lot this week as I knew good stocks i could buy with a potential for good move, and if it goes wrong, i can still hold onto them as i quite understand their fundamentals.

I will be in lagos for a week next month and the whole of Dec. am sure we will catch up and have a better conversation. As promised, still a bit busy with work now so I will call you have we have a good chat. Trust me two heads are better than one and I never shy away from an opotunity to learn.

MARKET WRAP

The Market continue to be volatile even though we saw some buying pressure yesterday. UK closed up at over 3% but even though US opened high, it closed low. One of the signs of a week market is "open high and close low" based on the negative closure of the US Market yesterday, am sure the FTSE (UK) will be in the negative today.

If you look at the graph of the spy today, the price at market closure yesterday was below that of Monday when there was an attempt rally, telling us that we are still in a correction, but the rate at which we are descending is decreasing. Also have a look at the graphs, the price drop is very very steep. so this cannot change over night, we need a soft landing then a trend reversal. The candle stick shows that the market is very very week.

I will be in lagos for a week next month and the whole of Dec. am sure we will catch up and have a better conversation. As promised, still a bit busy with work now so I will call you have we have a good chat. Trust me two heads are better than one and I never shy away from an opotunity to learn.

Will be nice to rub minds together

MARKET WRAP 27/08/2015

Today showed the first sign of market recovery, If we have the same performance tomorrow, this could be declared a follow through day. Based on the technical of the index today and the performance of leading stocks, I have entered the market again today. The reason for entering the market are as follows.

1. The Chinese market dropped only about 1.5% today.
2. All the Major indexes closed up well above 3.0%. That almost eradicate all fear.
3. SPY the broadest index closed up about 4% at a volume 143% above average. This is a clear indicator that the fear is almost over.
4. Tomorrows trade is a confirmation of the status of the market. If we get another 2% rise then we can go out and fully trade the market but keep a tight stock.

Now These are the stocks i bought today

NFLX
SKX
LXFT

Other possible buy is PANW. I did not buy it because the earnings are close.

Hi all,

Just to let you know that the market in Shangai picked up today and right now it is 1.5% up. this provide further conviction that the fear is almost over and we should possibly see a complete U turn of the market by Friday.

Advice is to buy at least one good stock today, when it runs it will run fast to catch at least one or two stocks today ready for when the market reset but keep your stops very very tight say 3%.

Nice to see the market bounce back, but i'm still holding a good amount in cash cuz I still think the market will still be volatile. As at this time, i've made over $1,750 today alone see the screen shot below and over $3K since yesterday. I still feel bad cuz I mistakenly placed an order which sold all my FB stocks at market price yesterday, the price has gone up now. Apparently i placed the wrong sell order, I'm still not sure about limit and stop market orders. I've also learned to be patient, I will wait until there's a dip in my favorite stocks no matter how long it takes. I like having different stocks to diversify my portfolio and hedge my risks but I noticed I couldn't get into most of the stocks i owned before the correction on monday. I sold many companies and forgot which ones and at what price, Sure I could've checked my filled orders, but it was just too much to figure out. So i've decided to focus on no more than 10 companies and might eventually lower it down to the best 5 performers.

Netflix alone made me over $820 today (as of 2:17 ET, hopefully it doesn't drop when i wake up). I'm very long term and have no plans of touching my investments for another 30yrs as i'm doing this mostly for my future kids. So going forward, I will do my best not to panic sell fundamentally strong stocks that I know will rebound soon even if it takes another year or two.

Jideams can you explain the different buying and selling orders on TD Ameritrade, ex stop market, limits etc. I can read up on these terms on the platform but i'm just being lazy and they seem too detailed.

Jideams:


Trust me, if you understand the principles of investment at the time you leave school, you will realise that wealth is built on a formular.

Work - earn your salary - invest your money - now make your purchases on the proceeds of your investment. that way, as you work, your money works for you before spending.

Please try and read the book Rich Dad Poor Dad and it will show you the 4 quadrants of money manking.

"Money won't make you rich"
Sunday Adelaja
Is also a. Profound read

Am really interested in this online trading and have been looking for someone that can put me through. please mail me on yekkabol@yahoo.com. I will be glad to hear from you. Thanks!

YerYer:
Nice to see the market bounce back, but i'm still holding a good amount in cash cuz I still think the market will still be volatile. As at this time, i've made over $1,750 today alone see the screen shot below and over $3K since yesterday. I still feel bad cuz I mistakenly placed an order which sold all my FB stocks at market price yesterday, the price has gone up now. Apparently i placed the wrong sell order, I'm still not sure about limit and stop market orders. I've also learned to be patient, I will wait until there's a dip in my favorite stocks no matter how long it takes. I like having different stocks to diversify my portfolio and hedge my risks but I noticed I couldn't get into most of the stocks i owned before the correction on monday. I sold many companies and forgot which ones and at what price, Sure I could've checked my filled orders, but it was just too much to figure out. So i've decided to focus on no more than 10 companies and might eventually lower it down to the best 5 performers.

Netflix alone made me over $820 today (as of 2:17 ET, hopefully it doesn't drop when i wake up). I'm very long term and have no plans of touching my investments for another 30yrs as i'm doing this mostly for my future kids. So going forward, I will do my best not to panic sell fundamentally strong stocks that I know will rebound soon even if it takes another year or two.

Jideams can you explain the different buying and selling orders on TD Ameritrade, ex stop market, limits etc. I can read up on these terms on the platform but i'm just being lazy and they seem too detailed.

I am new in dis business and love to be involved send me up details let's discuss love to invest and u can trade 4 me with commission . RICHOTEG@YAHOO.COM

yekkabol:
Am really interested in this online trading and have been looking for someone that can put me through. please mail me on yekkabol@yahoo.com. I will be glad to hear from you. Thanks!

I'm not exactly sure how people trade from nigeria, Jideams and others have expertise in that.

hooklover:


I am new in dis business and love to be involved send me up details let's discuss love to invest and u can trade 4 me with commission . RICHOTEG@YAHOO.COM

I wouldn't mind trading for u with commission if it was virtually possible and without implications. If I were to trade on your behalf, I will get taxed capital tax from any gains you make since I will be using my account. Besides, I can also get charged by the SEC for running an illegal brokerage without the necessary licenses.
In this world where people can share apartments (AirBnB) share cars (Uber) and many other things, I even tried to build a website that would allow folks in nigeria participate in the multi million dollar lotteries in the U.S for a small fee but when I contacted the lottery boards in Nigeria I was told it is illegal to operate a "Proxy bidding" site since its a conflict of interest to the local lotteries. So you see, some things aren't as easy as they should be, but I would suggest u ask others on nairaland how they opened their brokerage accounts from naija.
Good luck.

YerYer:


I wouldn't mind trading for u with commission if it was virtually possible and without implications. If I were to trade on your behalf, I will get taxed capital tax from any gains you make since I will be using my account. Besides, I can also get charged by the SEC for running an illegal brokerage without the necessary licenses.
In this world where people can share apartments (AirBnB) share cars (Uber) and many other things, I even tried to build a website that would allow folks in nigeria participate in the multi million dollar lotteries in the U.S for a small fee but when I contacted the lottery boards in Nigeria I was told it is illegal to operate a "Proxy bidding" site since its a conflict of interest to the local lotteries. So you see, some things aren't as easy as they should be, but I would suggest u ask others on nairaland how they opened their
brokerage accounts from naija.
Good luck.

Thanks for your response just thinking if i open an account with sure trader which i am in d process if i give u log in details you should be able to assist as discussed. Let me know what you think.

OTEGA1:


Thanks for your response just thinking if i open an account with sure trader which i am in d process if i give u log in details you should be able to assist as discussed. Let me know what you think.

Is sure trader a broker? If so why don't you log in yourself?

YerYer:


Is isure trader a brokerage? If so why don't you log in yourself?

I am not good in picking stocks so i need a professional like you to assist. I will prefer long positions to avoid trading every day......No vex i am trying to grt a professional like you to assist............

OTEGA1:


I am not good in picking stocks so i need a professional like you to assist. I will prefer long positions to avoid trading every day......No vex i am trying to grt a professional like you to assist............

Thanks for the compliment, but to be honest I'm a rookie. Only thing is, I research these companies on my own and monitor upcoming trends. I will suggest you start by reading business news articles to get a feel of the market buzz. You can also use Jideams as a resource, he's been trading for many many years.

I am really elated considering the fact that US stocks is been discussed here.

I will be commencing virtual stock trading (mainly penny stocks) until I finish raising cash with suretrader. Forex was the first world I got introduced to some years back but futures stole the love while I was taking a finance course when I was running my graduate program in the states.

My plan was to get a job after my master (energy field) and manage my trading but the economy downtown was so bad for the energy sector that I had to come back to nigeria but unfortunately it's worst landing a job here in nigeria compared to the states.

I'm presently saving up to face this career I love, and I intend to manage two portfolios (E-mini S&P 500 and penny stocks). I already started futures trading far back as 2013 while doing my Msc (using mainly price actions by al brooks and Mack but with a volume chart). My mistake then was I did not have proper documentation of trades but I've started keeping records religiously.

Hopefully, within the first quarter of next year, I should go live. And I will share my experience here.

Please keep the thread alive. Can I paste my E-mini S&P 500 trades here?

Regards...

Kudos to JideAms and others who have really open my eyes to the possibilities in trading US Stocks. I will like to know what is the minimum amount required to open a trading account. Thanks

Hi All,

Apologies for the break, been busy with work and the market has not been encouraging, I believe we have settled now and its time to identify new leader.

Hi all,

I have decided to start off by reviewing what happened over time and see where we are today. As we all know, the market does not go up for ever, it will take a break, correct or even crash. After the struggle following the last correction I reviewed the market to see what went wrong and what I could do to prevent or protect my self in the near future. As you know the market always repeat itself.

The diagram below showed that the price of the market had remained at relatively the same levels over they year. I marked 3 points X1,X2,X3 on the graph during which the MACD green line was below the yellow line on the weekly graph. This points corresponds to price P1, P2,P3 where the price was below the 10day moving average. These are indication of the market weekness and i have made a rule to either get out of the market or completely reduce my risk during similar times in the future.

point X4 is where the MACD green was over the yellow and the Price P4 was over the 10day moving average.

Simple rule..... when the general market or one of the major indexes ( SPY, NASDAQ, DOW) exhibit these characteristics, it is an indication that the market is week and you have to protect yourself until a favourable time X4,P4 returns.

He who fight and run away live to fight another day. I was consumed in the last up trend so I have a lot of work to do to recover.

Another thing to note and why you should not marry a stock is that winners in the last up trend are not going to be the same winner in the next uptrend.

Check out SKX and GRPO to see where they are today. I have 3 positions running now ( two weeks old) and will continue to review to identify new stocks. They are as follows

FB
PAYC
OZRK