Mick's trading bot on the ASX

themickey said:
The ASX mkt is very tough atm, the gains are small, as soon as stocks begin to run, they get slammed, the winnings are meager. I think much of it has to do with the Fed continually jawboning on and on about interest rates week after week.
So a handful of stocks may rise, usually the larger caps which artificially pushes the index up, but the very small caps are going nowhere.

This is how I feel at the moment.
I’m on a journey and the shoes I’m currently wearing are wearing out and I’m uncomfortable with them.
So I’m shopping for a new pair of shoes but the more I shop the more educated I get on new shoes which then sends me off looking further for that perfect shoe fit.

I’ve been trading many years but the last two, the volatility has thrown all my previous methods into the not suitable basket.
So I’m attempting to change my trading style, but the more I dig into a new style the more I discover new stuff which then sends me off onto another search.

So I create a new algo but it’s not perfect. Well perfection will never be found, but the trading style associated with the present algo, I’m not happy with the results and writing and rewriting algos is time consuming.
Kind of feeling frustrated at the moment.

So atm I’ll just back off a bit on trading perhaps until I sort out the current coding where it sits comfortable with me.

Today I managed to unload LRS Latin Resources.
I’m attempting to sell stocks to reset my current holding positions after discovering many don’t meet the grade to be holding.

Even though the current profit seemed small on Latin, I’d previously bought Latin to this experiment at 12.5 cents and sold at 31c. I thought it may run again, but I’m being too optimistic, so decided to give the idea away, there’s a limit to how much blood you can squeeze out of a stone and the way things are going, a massive sudden dump on Latin if it happened, would be super annoying and I’m not in the mood atm to tempt more fate after the recent CBR and BUB fiascos.

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Hey Mick,

The shoe anecdote works.I know the feeling.

Do I remember you saying you are a 'long only' trader?

I had an epiphany the other day and realised shorting or betting on exhaustion of a move is something I could remove and not worry about.
 
semperfrosty said:
Hey Mick,
The shoe anecdote works.I know the feeling.
Do I remember you saying you are a 'long only' trader?
I had an epiphany the other day and realised shorting or betting on exhaustion of a move is something I could remove and not worry about.
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Unfortunately I'm mostly unfamiliar with how the USA systems work, it is a lot different from ASX system.
WE are hamstrung here with the ASX which runs a 80 year old monopoly crap system but as typical, they get government protection to run a monopoly, ya know, look after ya rich buddies.
Anyhow I digress...
Shorting stocks on ASX is nigh on impossible, and limited to Options trading I believe.
Yeah, shorting is probably the best way of making money if it were easy to implement, shorting small caps would be lucrative imo.
 
themickey said:
The issue I have is not wanting to day trade nor trade futures.
Atm, the volatility has gone through the roof on stocks, everyone is suffering my fate, money disappearing faster than coming in, stocks just aren't holding up, I think everyone is short term trading atm.
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Ok no day trades and no futures gotcha. Why not stick to something in your own backyard "XJO".
You can use the etf's GEAR for long signals on xjo and BBOZ for short signals on xjo. BBOZ gains in price as XJO moves down and is very liquid. You will see by the massive volume spike yesterday on it someone knew the US markets were going to puke last night.
You can trade eod based on the signals you get from the xjo as that is basically what I do. I don't use those two etf's as I use a mixture of SPI futures and xjo options to obtain the outlook I want. Anyway just my 2c worth :)
 
I forgot to mention in my earlier post on brokerage, you can actually do $6 round trips up to 30K value with Stake. My daughter uses them as her account balance is not huge and they are chess sponsored as well unlike some of the other cheapies.
 
getthatintoya said:
Ok no day trades and no futures gotcha. Why not stick to something in your own backyard "XJO".
You can use the etf's GEAR for long signals on xjo and BBOZ for short signals on xjo. BBOZ gains in price as XJO moves down and is very liquid. You will see by the massive volume spike yesterday on it someone knew the US markets were going to puke last night.
You can trade eod based on the signals you get from the xjo as that is basically what I do. I don't use those two etf's as I use a mixture of SPI futures and xjo options to obtain the outlook I want. Anyway just my 2c worth :)
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GEAR & BBOZ imo are best suited for short term trading.
Locally based ETF's have no advantge over USA bases ETF's I doubt, I think USA mkt has less volatility, more legs than ASX mkt.
upload_2023-8-3_7-24-59.png

GEAR.AX vs NDQ.AX, 5 years weekly chart
 
Sold ASM today, but a tad late, like yesterday would have been better but yesterday I was in hospital having a Endoscopy checkup and arriving home after the close.
The ASX market is definitely not a good place to be atm, the best position right now would be flat.

Anyhow I'm no longer going to trade this system, the next algo in the pipeline will be similar, I can use parts of the old into a new system which will be slightly simpler, however the market is not ideal atm for any trading for ASX stocks unless perhaps you're a day trader imo.
 
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