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The Journey Continues Part 28
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Author:  bigal60 [ Wed Feb 16, 2011 7:31 pm ]
Post subject:  The Journey Continues Part 28


well another red splattered portfolio presented itself on my return from work today! It could become tedious if I didn't believe that some better days will eventually appear...

I did have a few green positions but nothing of any real significance; biggest riser today was MONITISE PLC which just about managed a whole 1.5 points. To be honest none of my positions dropped very much; it's just that so many were in the red.

All things considered it could have been much worse since I ended the day around £35 down. Actually I had one stop out today - CAZA OIL AND GAS - which lost me £36! I had one new contract execute which was another RANGE RESOURCES LTD; this now gives me 8 positions in this company. RANGE gained just 0.25 points today with hopefully another gain on the way tomorrow...

Account funds £2436

Big Al

Author:  SpreadBettingTrader [ Wed Feb 16, 2011 7:53 pm ]
Post subject:  Re: The Journey Continues Part 28

Had a quick look at the range resources chart, would be interesting in your thinking with regards to having 8 positions in this share. Have you just pyramid into it everytime it has gone up 1 full point? From the chart it looked pretty dormant until last monday where it has gained 7 points, so is that the reason for the 8 positions?
I stil struggle with when to time my pyramids, infact I have hardly any open pyramids in my account at the moment.

Author:  edswifa [ Thu Feb 17, 2011 9:31 am ]
Post subject:  Re: The Journey Continues Part 28

I think I have worked out big als entry and pyramid rules on the range resources ltd position.

I know he is using a vince stanzione strategy and I also read somewhere that vince is selling turtle rules.

Which by the way you can read for free if you google around for them.


Author:  SB_Beginner [ Thu Feb 17, 2011 10:30 am ]
Post subject:  Re: The Journey Continues Part 28

I've heard that a few times now. I have a copy of Vinces trading system so I'm going to dig around and find out if it is the same. I know Vince mentions the turtles in his material and I think he says he has a copy of the original turtles trading rules.

Anyway I'll do some digging and try and find out more information. I'll be interested to know if it is true or not.

Author:  SpreadBettingTrader [ Fri Feb 18, 2011 11:32 am ]
Post subject:  Re: The Journey Continues Part 28

Very interesting, thanks for the replies guys. Would be interested in hearing more if you do dig something up Harry.

Author:  SB_Beginner [ Fri Feb 18, 2011 2:48 pm ]
Post subject:  Re: The Journey Continues Part 28

I've found a pdf document which apparently is the original Turtles trading rules. I read through it yesterday and although there are similarities and one of the strategies is similar Vince does offer more than the one strategy in the material he sells.

The thing is I have no idea if the document I found is the original turtles rules or not. Even if it isn't it's a very interesting read.

I'm with you spread betting trader on when to pyramid. I think using my super trend strategy it's not hard to find a good trend(when they come along) but it's the pyramiding into a winning position where you start to make significant profits. Like Vince Stanzione says in his material "80% of your profit will come from 20% of your trades!"

The original turtles document has an interesting strategy of pyramiding winning positions. They add to a position when the price has risen by 0.5ATR(20). They use a 20day break out strategy (I can't remember where they place the stops).

Anyway read the original turtles document. It's very interesting especially for the likes of us technical traders.

I was going to write all this in a blog post but I don't think I'll bother now. I'm still working on my review of Vince Stanziones strategies, along with adding the back tests that off the lip has done. All that with work and family, man I don't make life easy some times. Still I'll get there in the end.

Author:  SpreadBettingTrader [ Sat Feb 19, 2011 1:51 pm ]
Post subject:  Re: The Journey Continues Part 28

Thanks for the pdf link Harry I will give it a read today as I have a long overdue day off!
I guess Al is keeping his pyramid method secret for now ;)

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