Mick's trading bot on the ASX
- Thread starter themickey
- Start date
Yet another negative day on ASX, market received a good beating, gold in particular but that's gold, a fickle beast at the best of times.
The only stock today to go up this portfolio was Whitehaven Coal.
I added FEX Fenix Resources, Iron Ore to the list at today's closing price.
I bought this stock many moons ago, I've added to it several times, today was another buy signal so have popped it into the Algo demo portfolio.
Today I tweaked the algo again, well it was more than a tweak, it is the 25th version, added some new component and deleted some components, took several hours and once again added to distractions to the day, however it was a sad day for the greens, mostly it was red so not a lot missed.
I expect it could take several weeks of tweaking and modifying until I'm satisfied with it.
I always think I have it sorted, and then along comes another idea.
The only stock today to go up this portfolio was Whitehaven Coal.
I added FEX Fenix Resources, Iron Ore to the list at today's closing price.
I bought this stock many moons ago, I've added to it several times, today was another buy signal so have popped it into the Algo demo portfolio.
Today I tweaked the algo again, well it was more than a tweak, it is the 25th version, added some new component and deleted some components, took several hours and once again added to distractions to the day, however it was a sad day for the greens, mostly it was red so not a lot missed.
I expect it could take several weeks of tweaking and modifying until I'm satisfied with it.
I always think I have it sorted, and then along comes another idea.
Today one of those days where there was a great deal of anguish. It started with the media on pre-open saying today would be a positive day on ASX and me thinking, "Where you guys getting that from?"
Mining was into the red today for 6th day in a row with a big red candle.
Lithium stocks were particularly hit hard and Latin Resources down a brutal 13.5%.
Nevertheless it was a borderline sell signal and I didn't sell. Huge volume.
The reason for not selling, my call we are about at the bottom of the Mining rout and todays rout is typical behavior of a bottom.
So far though I've been trying to fly into a head wind with this portfolio.
Today bought STO Santos (Energy). The buy signal was a few days ago and I resisted the temptation to buy then, mainly because I thought it would be a slow gainer.
I revaluated today and thought it not too late to buy, there should be more upside.
No trades today, but another choppy day, Latin Resources making me nervous with huge volumes going through, flat today on close.
BUBs is falling, but I was expecting it to fall, I have another buy order sitting in the system at 21cents, it's been sitting there about a week, it may fall to 20.5c but 21c is safer imo to snaffle up some more stock.
No trades today although I have placed a couple of sitting sell orders into the system.
The ASX market is still highly volatile, well the mining section is, which is predominantly what the ASX is other than the big 4 Banks, I detect a lot of reluctance for players to commit to going long, it really is a day traders market atm for the ASX imo.
The XMM chart (Mining sector) above appears to indicate a breaking out, but imo it’s still a tad early, there is potential for a failure.
Today had a fairly major breakthrough in discovering how my algo works.
It is kind of weird how I manage to code stuff up, I’ll come up with an idea which on first impressions looks good, then I’ll spend often weeks writing up the code because It’ll go through numerous variations, some of those variations are logic improvements, sometimes I’ll add or subtract ideas, others are improvements to streamline and or to make the algo appear more presentable, ie, easier to be appealing to the eye and easier to interpret the results.
Then frequently there will be aspects to it where I hit a brick wall, something won’t compute, the results might have too much randomness, the results are not efficient enough, the results don’t align well enough with how the market is operating, or there will be a puzzle why the market frequently does some move which is not explainable.
The last one, ‘why the market frequently does some move which is not explainable’, was about dummy breakouts I was struggling with. I was puzzled why I was getting breakout signals but every now and again the moves would inexplicably fail, i.e. there would be a breakout as I expected but it would fizzle. I knew there must be a reason for the failed breakouts but couldn’t suss why.
Well today I sussed it (I'm fairly confident) and I kind of discovered it by accident which is often how I create algos in the first place, I experiment with math and discover an occurrence which I didn’t know was there until I start playing around with figures.
Anyhow the result of this, I’ll have to re-write my code once again to take in the changes, also some of my current positions I’ll need to dump as they now fall outside of the required criteria to be holding.
It should also make it easier for me to trade as a niggle on whether a breakout would in the near future fail, will hopefully largely be gone.
With high brokerage I pay in Australia, it should also be a saving in that regard.
Because one may calculate that a breakout will fail shouldn’t mean not to take the trade, it just means when you place the trade, set a TP limit order because the probabilities are it will not run any distance.
Last edited:
I don’t know anything about ASX and its mining sector, so my comments might be irrelevant.
I’m following most of the mining stocks listed on the US markets, and right now only FNV (NYSE) and GFI (NYSE) are setting up but the volume is not confirming, so patience is needed. I wonder if similar thing might be happening in your market.
The Gold and Silver are in a trading range on the weekly charts, and that’s affecting most precious metals stocks on the US markets, and I wonder if that could also be affecting your algo’s performance?
I’m following most of the mining stocks listed on the US markets, and right now only FNV (NYSE) and GFI (NYSE) are setting up but the volume is not confirming, so patience is needed. I wonder if similar thing might be happening in your market.
The Gold and Silver are in a trading range on the weekly charts, and that’s affecting most precious metals stocks on the US markets, and I wonder if that could also be affecting your algo’s performance?
I'm only holding a couple of penny gold stocks plus I have a pureplay silver stock.
The penny's are not reliable in terms that they go their own way, frequently not following the sector.
Problem with precious metals is they are suited imo to more short term plays, eg a week or two, then the trend changes, much of this is the volatility knocking at your stops.
If you have wide stops then lots of slippage, tight stops then more slippage, eg fees and getting shaken about.
But what is affecting me atm, is the ASX is treading water, seems like lots of fear about.
Now instos drive the markets, not so much retail, my strong hunch is we are coming out of a bottom but the ASX stocks as a whole haven't yet a buy signal.
There are certain levels which trigger buying and selling, we are in no mans land, neither sell nor buy signal yet, like you mention, caught in a trading range.
Here is a chart of IWM ETF (Russell 2000 small caps) black line versus XSO, ASX Small Caps Index, red line.
It's dang difficult to get ahead with this type performance.
Recently, precious metals markets both USA & ASX were the best performing, but they have slipped of late. ATM precious metals have both very short term sell signals and longer term sell signals as well.
Crypto atm is strongest but I believe that is a top and heading down for a month or two, but only slightly down, nothing severe or major, then another leg up.
The penny's are not reliable in terms that they go their own way, frequently not following the sector.
Problem with precious metals is they are suited imo to more short term plays, eg a week or two, then the trend changes, much of this is the volatility knocking at your stops.
If you have wide stops then lots of slippage, tight stops then more slippage, eg fees and getting shaken about.
But what is affecting me atm, is the ASX is treading water, seems like lots of fear about.
Now instos drive the markets, not so much retail, my strong hunch is we are coming out of a bottom but the ASX stocks as a whole haven't yet a buy signal.
There are certain levels which trigger buying and selling, we are in no mans land, neither sell nor buy signal yet, like you mention, caught in a trading range.
Here is a chart of IWM ETF (Russell 2000 small caps) black line versus XSO, ASX Small Caps Index, red line.
It's dang difficult to get ahead with this type performance.
Recently, precious metals markets both USA & ASX were the best performing, but they have slipped of late. ATM precious metals have both very short term sell signals and longer term sell signals as well.
Crypto atm is strongest but I believe that is a top and heading down for a month or two, but only slightly down, nothing severe or major, then another leg up.
Today another down day for Resource stocks.
Interesting day inasmuch that some currently held positions no longer fit the newly discovered criteria, to be holding.
BUB & WHC are two stocks which don’t make the grade.
Also ALK Alkane Resources doesn’t make the grade but I bailed out of that today at 0.775.
Alas with Bubs, I had a sitting buy order at 21c which I forgot to remove and which got filled today on an ugly downmove. That’s what happens with jack of all trades retail traders master of none, there’s a lot of balls to juggle simultaneously.
BUBs had today an extraordinary meeting to oust several directors and install new directors which failed spectacularly and the market didn’t like it.
My guess is there is some dirty business going on in the background with major shareholders dominating the vote with ties to China.
Nevermind, I expect BUB to track sideways from here then rise, I can sell for a profit if I just hold for a little bit longer.
My previous buy price was 25c, todays was 21c so the average buy is now 23c.
BPT.AX, Beach Energy has a buy signal, Beach once upon a time years ago was a market darling, but not these days so much.
I’m not too keen on Beach, I think it will run but I’ll just save some powder for better upcoming opportunities, so won’t buy.
So it appears we are not traveling that too well atm, but the ASX Mining sector is doing poorly plus I’m sorting out teething errors in the way the new algo interprets data, should get better hopefully soon.
ASX Mining sector down once again, we’re at the same level as 1st December last year.
BUB got hammered again, down over 6% at one stage, but recovered on Close to break even for the day. The assholes running BUBs are giving everyone ulcers, but that’s trading.
I bought into ASM Australian Strategic Materials Ltd once again, Rare Earths Dubbo NSW, they’ve also entered into a JV in Vietnam.
ASM chart, I was stopped out two weeks ago but I’ve come back in for another go.
The ASX was heavily punished today, but by some miracle pulled itself up a tad by its bootstraps.
Carbon Revolution which manufactures Carbon Fibre wheel hubs for high performance motor vehicles is the best performer in this portfolio so far.
We’re up 44% in two weeks with this position.
Carbon Revolution had it’s beginnings in Victoria when they began shutting down vehicle manufacturing, Holden, Ford, Toyota several years ago, a lot of the smart technician and robot engineers moved over to this company, going by my memory.
https://www.carbonrev.com/company/
Today I was again for most of the trading day distracted, I was attempting to code up a new idea which is trend lines. I’ve coded trendlines before but today I wanted to take a different approach, with different formulas and concepts, got it sussed in the end and now it is married into this algo.
Friday is frequently a day where day traders bail out, often in the morning. Today many would have lost their shirts if they were long because today was just another shit of a day.
Somehow (mostly thanks to CBR +14%) I managed to recover somewhat from yesterday when BUBs had a ginormous dummy spit peeling off 13% after I had taken a 2nd bite.
BUB got hammered again, down over 6% at one stage, but recovered on Close to break even for the day. The assholes running BUBs are giving everyone ulcers, but that’s trading.
I bought into ASM Australian Strategic Materials Ltd once again, Rare Earths Dubbo NSW, they’ve also entered into a JV in Vietnam.
ASM chart, I was stopped out two weeks ago but I’ve come back in for another go.
The ASX was heavily punished today, but by some miracle pulled itself up a tad by its bootstraps.
Carbon Revolution which manufactures Carbon Fibre wheel hubs for high performance motor vehicles is the best performer in this portfolio so far.
We’re up 44% in two weeks with this position.
Carbon Revolution had it’s beginnings in Victoria when they began shutting down vehicle manufacturing, Holden, Ford, Toyota several years ago, a lot of the smart technician and robot engineers moved over to this company, going by my memory.
https://www.carbonrev.com/company/
Today I was again for most of the trading day distracted, I was attempting to code up a new idea which is trend lines. I’ve coded trendlines before but today I wanted to take a different approach, with different formulas and concepts, got it sussed in the end and now it is married into this algo.
Friday is frequently a day where day traders bail out, often in the morning. Today many would have lost their shirts if they were long because today was just another shit of a day.
Somehow (mostly thanks to CBR +14%) I managed to recover somewhat from yesterday when BUBs had a ginormous dummy spit peeling off 13% after I had taken a 2nd bite.