PLS chart, page-8819

100k-150k shares 10c range. 25000 shares 4 to 6 orders spread over 2 to 3 cents (at current prices): eg: 2500, 50000, 25000 PLS moved regularly over a 10c channel each day, now it tends to be more like 20c. When the price was around $2 I did trades in 40k tranches. Buy at the low of the channel sell at the top. The normal load on any given cent that trades without slowing the movement is 100 to 150k share = 10 - 15k (minus brokerage), probably averaged to 7 to 13k every second day. 200k slows and may trigger a retrace, 300k stops the movement almost always causes a retrace, but usually PLS has second go 1c below. Keep the total load to between 150 and 200k on any cent and adjust the trade if others load up on you and PLS trades will usually just gobble it up. If you watch the queues you will see my trades going in because the patterns are pretty rigid in 25k orders. You'll also see me screw up when I decide it wont get to the target and shift the orders (because they move together) and then it usually does hit the target later.

I used to post the ranges at the start of the day for PLS and AKE to the AKE forums, so it is easy to check by looking at my posting history.. You will also see how often I commented on the fact that PLS was extremely well behaved range-wise.

It used to follow the US basket almost to the cent (until about three weeks ago) - which is why I created the basket a few years ago and have tracked it ever since, The basket gave the upper and lower bound of the movements each day. One could make money in a falling or rising market channel trading. Major turns are a problem as you may or may not be in the right position for the trade. About 1 in four trades failed and lost money (sometimes a lot of money - because you tend to hold at the channel target waiting for the price to return and it can fall by 10 or 20c very fast) - the other 3 made money. If PLS opens low on most days it will rise to the channel top, if it opens high it will normally fall through the day until the channel bottom, occasionally it opens high and keeps rising (or the reverse) - those days tend to result in losses as well regardless of direction surprisingly.

This system worked very well for about 3 years, probably more (I can't remember when I started doing it on PLS). Prior to the daily trade pattern I did this over the multi day channels with much smaller parcels which took about a week to do the same thing. I started like everyone does with a widely spread "balanced portfolio" using FA which worked through luck as much as anything, and gradually reduced to a few highly focussed stocks with heavy TA.

The 2017/20118 Li collapse almost wiped me out - hundreds of thousands lost in a matter of days (I remember loosing 150k in one day) and then bleeding for 6 months or so. The channel trading was born in that crisis and a shift from FA trading to TA trading because I had to rebuild from about 20% of what I had before the crisis hit, and where I had been using TA I had less damage (and a large LT holding in CSL and a couple of others saved my bacon). From my earlier posts here, you will note I tend to be pretty open about things - particularly losses - and discuss what I got wrong and how to avoid it in future.