SLAMS

I do not trade slams. For some reason SLAMS, for me anyway, do not work as well as PEAKS.

Watching CNBC this morning helped me pick my trades (yes 3 of them) this morning.

I traded TSLA (PUT) and Z (Put).

On TSLA I waited to get in after the stock had a small pull back off the open. I watched my 5 E chart for a directional change from the pull back. I entered the trade after the close of the 9:40 candle. I watched the 5 and the 20 for a signal to buy a PUT. Why there? I knew that my PUT purchase would be cheaper and I was 99.99999% sure TSLA would go down because of guidance...not earnings. TSLA could become a Dead Cat Bounce (similar to SLAMS). I bought 5 Nov week 2 contracts ($6.40) and sold ($9.75) when the 21 and 34 chart hit the over sold in the stoch RSI. My profit was $1,644.69.

My second trade is Z. Just sold @11:09. I bought 10 Nov week 2 contracts for $2.75 and sold @ $6.10. My profit was $3,319.69

Z was a PEAK play. I noted that it was outside the Bollinger Bands. I left when the stock hit into the Stock RSI over sold area.

I am in another trade but I haven't sold yet. The way it is bouncing I think I will get out of the trade now. It is BIDU. I am up $225.00 on 5 contracts. I think it will bump along here for a while. It is moving really slow and by the looks of the 233 it may stay there for a while.

---------11/7/13

ADD: Traded TSLA again today. TSLA pulled back on my 5 E chart.As soon as the red candle finished @10:05 and I saw the candle on the 5 E chart turning red on its open @ 10:10 I jumped on the trade. I saw where I had more room on the 21 for a down move so I thought I would just get a little $'s while all the talking heads were gabbing about TWTR.

I bought 10 contracts @ 3.25 and sold @ 4.60 making $1,319.80. Why did I watch TSLA again when the 55 was showing over sold? The Daily was giving me a FP, MACD was looking good on the Daily and there was a slight pull back. On top of that yesterday the talking heads were dogging the stock after the close (after Maria). I figured the pressure to sell TSLA stock was greater than the reason to buy on the dip. I had E on the 3,5,10, 13 and 21. I am done for the day. The only thing people seem to be talking about is TWTR. That IS a stock I am adding to my basket.



Edited 1 time(s). Last edit at 11/07/2013 12:17PM by Darcy2.

Just out of curiosity, did you have any thought to the market being up and you playing puts? It's an odd day from my 'new to this' perspective... most of my workspace is down, yet the dow is up over 100 currently

No. These stocks are in the NASDAQ and the NASDAQ was/is down. The NASDAQ futures were also down and pulled up just about the same time I exited.

The news made these two (TSLA and Z) stock specific. BIDU was more related to the NASDAQ.

In the morning I listen to CNBC. I can generally tell by the way the talking heads refer to somestock if that stock will be a trade. They mention those stocks over and over and over again. I also listen to the talking heads (Squawk Box) talk about particular up comimg earnings on stocks. After a while you just know about how these stocks will react.

WLT is one of my and S/O's expert stocks. I own 500 shares of this stock and do the printing press with it. Currently I should clear a little over $105.00 on WLT on my STO trade (Printing Press) and will still own the stock.

S/O and I were looking at the charts this morning and we noted a HRFP on WLT on the 55,34,21 and E on the 10, 8. 5 charts.We entered the trade @10:07. We bought 40 Nov week 2 contracts for .67. We sold a short while ago for $1.10. Our profit was a little less than $1,639.89 (S/O's was a little more because he stayed with the trade just a little longer than I did.) It is just when I see $1,000.00 I start to get itchy hands!

I do not want to continue to post my trades. I am beginning to feel like it is boasting and I am not that sort of person. I just want all of you to know the E still works even in this slower zone. I also want all of you to be so very successful in your trades.



Edited 1 time(s). Last edit at 11/08/2013 03:18PM by Darcy2.

Darcy,
I seriously would hope that you Do continue posting your trades. I went thru Gary's 1-5 several years ago. I have struggled with the whole learning process over the years. Finding this forum back in the Spring has proven to be the best thing for my study. I literally tear your trades apart to learn all I can. That process has accelerated my learning curve immensely. I know it takes a lot of time and energy for you to always break down your trades and post as well as answering everyone's subsequent questions but I can tell you, it has been invaluable to me and I truly appreciate it. I hope at some point to be able to give back and share as you have. From a selfish standpoint, I hope you continue to post all you trades.

Quote
traildoc
I seriously would hope that you Do continue posting your trades

I echo this sentiment... speaking for myself here, im still near the beginning and i realize that this takes a lot more time than i initially thought... these E trades, just like the bigger chart trades have lots of nuances to them that i havent picked up on yet... at this point for me the trades are easy to spot, (HRFP on 55, 34, 21 with E formation) ...but picking one over the other identical looking chart is where the skill comes in and that is where i need work, both look the same at 9:45 to me but one works and one doesn't... it would be great to hear why one was preferred over another that was forming at the time... I would say you're not boasting at all, we just suck at this, please continue to set the goal post for us to aim at.

Traildoc & CF....Thanks...I just don't want to come across as one of those blow hards and it just seems all I do is talk about my trades and how much they made.. I am getting to the point where I am wondering if that doesn't make me sound like a bragger. I just don't want to be one of "those people".

As to picking the right one...perhaps pick the one with the better volume. I have the same basket of stocks that I have had for a long time and I would say in that basket I trade maybe 5 most of the time. WLT is one of my stocks I love as well as VZ and CF. They just don't need to move a lot to make money but they have good volume. I do't jump all over the place looking for a trade. If there isn't one in my basket I close my lid and come back in an hour or so.

I do from time to time add a stock in my basket that has a lot of news attached to it. I have found that for a while that stock will be quite tradeable. TSLA comes to mind here as well as Z.

As I share with my S/O I like stocks that have the "M" rather than the "K" in volume. On the other hand I do not like stocks that move as fast as one of those bars in a slot machine. I found fast up is also fast down and perhaps faster than I can get in or out.

Where I may have an advantage over some is I can watch stocks all day long so that when I can see a turn coming I can get in or out quickly. Therefore I never use a GTC. I think placing a GTC is more difficult because not only do you need to know you have a trade you need to know it will rise at least a "buck up" on your option. In a case like that I would say watch support and resistence. Learn how to find those. Change your candles to a line chart...(however don't forget to change the chart back to candles when you are done.) ....take your ray line and clone it...drag it to the area where the line touches the most on the top and bottom on the line chart you use for your trades. I use the color green for support and red for resistance (I made these red and green different than GW's red and green and the thickness 3). I use moving averages and gaps for support and resistance. I also use the death cross and the golden cross for strength in the stock.

I have found investopedia.com a VERY helpful site for me.

Darcy,
Please continue. I need the motivation now more than ever after a couple of losing trades !!

Again, I personally love reading your posts and I always want to know how much $ you made. That makes it real. Not only that, but it gives me hope that I can do it and what kind of returns are possible. Have never looked at it as bragging. I have a friend who makes about 50K a month following Gary's program, but is unwilling to share any info. Your willingness to share is very selfless and I really appreciate that. KEEP ON POSTING !!

Darcy,

I echo this sentiment. I really look forward to your posts, and am disappointed when there isn't one!! I love all the detail, and hearing the number of dollars made as opposed to percentages. Like Traildoc, it makes it real for me. Keep on posting!

Darcy, I also strongly agree and echo everyone elses comment here about your posts. I learn so much from them and look forward to them and have never thought of them as your were bragging. It is awesome to see that this works and the encouragement you provide in the breakdown of your trades. Thank you for sharing so much and I pray that you will continue!

Ditto Darcy - you are not boasting. You are sharing.

You're a natural teacher and we're all learning from you.

Hopefully, we will all master this one day and be as generous with knowledge as you have been.

best,

walle

Darcy,


"S/O and I were looking at the charts this morning and we noted a HRFP on WLT on the 55,34,21 and E on the 10, 8. 5 charts.We entered the trade @10:07. We bought 40 Nov week 2 contracts for .67. We sold a short while ago for $1.10. Our profit was a little less than $1,639.89 (S/O's was a little more because he stayed with the trade just a little longer than I did.) It is just when I see $1,000.00 I start to get itchy hands!"

In your statment above, you noted a HRFP on the 55 and you entered the trade at 10:07. Am I too believe that I could enter a trade on the HRFP forming but not yet formed. I have always waited until the close of the candle to ensure that the signal stayed true.

Thanks,

I'm a bit confused by your post Mtut.

According to the date of posting it shows you posted on 11/11/13 at 9:47 eastern. Unless all my clocks are wrong today is 11/11/13 and it's only 9:26am edt. Also the markets aren't open. Did I completely miss something here?


NOTE: I may have found part of my answer. The forum server doesn't appear to be dealing with the daylight savings time as it should be. I had to go into my forum settings and manually uncheck the DST settings. Once I did that the time showed correctly :-)



Edited 2 time(s). Last edit at 11/11/2013 09:41AM by RichieRick.

mtut Wrote:
-------------------------------------------------------
> Darcy,
>
> In your statment above, you noted a HRFP on the 55
> and you entered the trade at 10:07. Am I too
> believe that I could enter a trade on the HRFP
> forming but not yet formed. I have always waited
> until the close of the candle to ensure that the
> signal stayed true.
>
> Thanks,


On my Qcharts I have a HRFP on the 55 candle which happen before that candle closed. Along with the confirmation on our E charts S/O and I had no hesitation. There are times I will enter a trade while the HRFP is forming but no close. WLT is one of those stocks S/O and I have traded since June of 2005. We just know it. That's why I bought 500 shares. It is one of those cheap stocks that moves well but that is my opinion.

I think many jump around from stock to stock to stock and don't take the time to learn at least one. I generally do not enter a stock when it begins to battle the 50 or 200 moving average for a up or down regardless of the chart but WLT is one I have little problem of doing that. And NO I do not recommend others to do that until they know their stock very well. Owning the stock also helped me in my decision when to trade this stock.

You are doing right by waiting but however when S/O and I got confirmation with the E and the 34 and 21 we traded. It made our option cheaper. Also since I own the stock I could offset any loss with advanced trades taught by GW.