in the spirit of openness

I'm posting my follies for learning purposes... yesterday (10/30) was interesting trade day... I'm still experimenting with E charts using virtual trades to get a feel for it. I have a 55, 34, and 21 GW chart w/ ADX visible, and a 3, 5, and 10 E chart. The 5 chart has GW RSI, MACD, and DM on it with ADX visible, the price window only has the E settings (5,10,20MA with Bollinger bands and candles.. I may add back GW's MAs if I can get over the clutter) anyways:

My test trades were AAPL, LNKD, NUGT, PXD, and PPG... I made lots of mistakes ...please critique

some thoughts:
AAPL - HRRP up on the 55 and 21... 21 formed first but 55 wasn't far behind... I jumped the gun on this and got in around 9:50... the 3E was formed, the 5E was getting there, the 10E was not there... too risky? Around 11:30 the 5E collapsed and had I exited, I would have made a bit more than $2 on my option... but I stayed because I've seen resistance broken before, this was a mistake given the market was going down, perhaps on an up day I could waited it out... I exited around 1:15 when it became blatantly obvious it was not breaking resistance and support was giving way

LNKD - HRFP down at open on 55 and 21, E on 3, 5 ,10... got in around 9:40 and out around 10:30 for $3+ profit on my op... given the market was heading down, I should have stayed through lunch (when things tend to flatten) watching the 10E chart, exiting if it crossed the 20ma... had I stayed I would have exited around 1:40 on the 5E chart (not wanting to go overnight)

NUGT - HRRP up on the 55 and 21, E on 3, 5, 10.. got in around 9:40... it turned around pretty quickly after that, again due to obvious resistance on the 55, 34 and 21... normally I had been avoiding resistance but I've as I said w/ AAPL ive seen it broken but I really think its worth the risk, only if the market is going in your direction, which it wasn't... so it fizzled

PPG - I traded this on 10/29 near the open, HRFP and made $ on it, I got out near the end of the day, however, I would have kept this over night so at open on 10/30 I got back in... well it turned around pretty quick after that... I'm still confused by what constitutes a continuation pattern...

PXD - same as PPG

today NFLX HRFP on 55 and 21, E on 3, 5, 10... it blew through resistance despite an initial down market... any explanations? today the market seems to be coming up today whereas yesterday it was going down... that's the only thing I can think of as a difference..

Hey I have found that in order to have the "E" moving avgs. without the clutter you can create a new small chart with only the "E" moving avgs and place it over top of the other chart. This way is less clutter and still at a glance you can see what is developing.

ChairmanFaust,

AAPL- You are on the right track with your thinking. That "E" has to be on the 10 as well as the 8. No E- no trade on a small chart.

NFLX was a good trade today. I am with you on the down market, but it was showing signs of coming up. Also, NFLX is a hot stock that seems to "Do no Wrong". That trade was a clear homerun. The DM was on the 13 and 21. Had some strength from the 55. That lets me know I am probably going to be in the trade for at least 21 minutes and possibly longer.

LNKD- I normally find a reason to get out when I pick up $3-5. I would have definately been flushed out around that 10:30 candle as you were. There is no way I would have taken a chance of giving it back. Just my gunslinger approach.

NUGT- It is a big, big risk to enter trades before 9:45. I have learned that the hard way. No one can predict what will happen from 9:30-9:45. Also, I like going in on the 9:56 or 10:09 candle. Things have really started to settle down and the market has generally started going in one direction.

That is just my humble take on a few of those trades.

rookie, thanks for your analysis... it helps a lot... I too am struggling lately... so I will continue practicing until I've put in enough chart work to see what I need to see in order to get this right