Successes off Bigger Charts

Bought Deck on 11//12 at about 72 and sold on 11/13 for 76.
Bought FB on 11/13 for around 47.30 and sold on the 11/13 for about 48.71. I was afraid to take those profits overnight. Moved profits and re-entered FB yesterday-the 14th. I have a little "fat" under me, so I will sit for a minute and see if FB goes on another tear. I think it will run to about 49.89 which is the next level of solid resistance. I am new at this big chart trading, so do not think about following my lead on anything. I am a fish fresh out of water, but so far, I am surviving. I have had one of my better weeks in trading. As you can see, I talk about trading off bigger charts, but I am a bit afraid to hold too long, but as I get more comfortable, I will learn how to do that, but until then, I will be satisfied with my results.

A couple of big keys that I find are significant.
-RTT was my big indicator on DECK. The historical trend was as strong as I have seen. Deck went up when the market was going down. AMZN is another that has confirmed the historical data provided by RTT. It has been on a tear. AMZN has been presented to this zone with excellent news, so people are jumping all over it. I chose Deck over AMZN. I will be happy with that decision. You guys know I love stocks such as DECK, FOSL, AMZN during this time of the year. Trust me, that historical data during this zone is about as solid as you will get. Use that tool. My level of confidence when having a strong trend in my corner is critical.

Having a good news feed has been really helpful. Briefing has been my friend. I will always complain about that expense, but based on news and the tone of one of my stocks I traded, I was able to make a more informed decision. The amount I profited more than paid the cost of briefing for a couple years of subscriptions. I am not trying to sell briefing on anyone-just letting you know that it has been a good tool for me-especially since trading off bigger charts. I will cross my fingers that FB will not blister me today. I bought deep in the money and out through December, so I am good on the expiration date.

That's great Rookie. I looked at RTT too about AMZN. AMZN is one of fav's.

I bought Jan calls yesterday. I am getting HIS...so maybe I'll get HIH!

RTT is really a huge help in making good trading decisions! They have me and S/O for life!

I just sold my position in FB. I just do not like the way it is moving. I will take my profits that I held over from yesterday and the few cents from this morning. I will watch how stocks are moving on Option Friday. Again, I am retraining my brain. In the past, most of this was irrelevant to me because I was not looking to stay in a position any longer than 1 or 2 hours. I am closing up shop for the week. I will enjoy my profits and mark this one as a very successful week. It is crazy, but trading off bigger charts is as much inate feelings as it is skill for me. After reading/studying Briefing, Yahoo Finance, RTT, candles, broad market, bigger charts to smaller charts, I get a feel for what the stock will do. I know it sounds crazy, but after entering, I immediately get that feeling that it was a good or bad entry. Exit is still my weakness. I will continue to work on that as well.

I am really liking Big Charts trading. I still have so much more to learn. Is there a book I can read that will help with my thought process or additional training in this area? I will go back to smaller charts in the summer-if needed, but for now, the movement of the option price is so much better when holding overnight and getting that morning "Pop". I jumped nearly $2000 from the close of one evening to the opening of the next morning. That was a very new experience for me. I think it was DECK. I do not get too emotionally involved with any of these stocks. When I trade for a profit, I generally do not go back, but FB was one that intrigued me, but after re-entering, I did not make that much more money, so it is probably best to not re-enter. It is a bit of greed when doing this. I will also share my losses as I have them. I hope I will not have anything to share in that area in the next 100 years-lol!

Have a great weekend!

Great post Rookie,

I seem to be following a similar path. I've been trying to practice large charts trades alot since I'm not able to do anything intra-day anymore.
I'd really love to hear more from large chart traders on this forum. Please don't get me wrong. I enjoy all the intra-day conversion as well, and I'm able to gleen some nuggets from their experiences.
I suppose we don't hear much from the dedicated large chart folks because their trades seem to take a lot longer to reach there conclusion, whereas the short charters pop in and out of trades quickly.

Sort of like the difference between a boxer and a slugger I think. A boxer will flash in and land a lightining combo and back off looking for the next chance to do it again, a slugger tends to wait on the big shot, and when he connects you could be out for days.
Either way the out come is the same, the boxer and the slugger get the prize money, and all you get is a nap on the floor:-)

Great trades Rookie. No reason to leave either trade though.

Im not licensed nor am I gary W but would be happy to answer any big chart stumbles any one may have. If you were like me then you are making it MUCH harder than it actually is.

BCT

Lol, I think it is very safe to say, I'm making it much harder than it should be. :-)

RichieRick Wrote:
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> Lol, I think it is very safe to say, I'm making it
> much harder than it should be. :-)

Hum...Take some of the info of us smaller chart traders and apply how we trade to the bigger charts. See if that helps. I trade big charts once in a while. My problem is I get bored with waiting. I am not like my gunslinger.

Thanks guys for the pat on the back.

A couple of questions.....
Is there a such thing as the 55 chart running it's course when in a trade off 55 as decision and the 233 as the trend? I am finding that many times the 55 hits the top BB, and goes side ways, but the 233 is still running. Now I either berth to the 233 as my decision and Daily as my trend, or exit the trade because the 55 has flattened and could reverse. Does this make sense?

Is the MACD as important as it appears when trading off bigger charts? I am treading lightly because it takes time to learn the significance and process to understanding the indicators, so I am not asking for secrets. Honestly, a yes or no answer would tell me if I am on the right track because I have no problem doing the work.

Do you enter off the 8 (Action)? Do you wait for the Pullback? I have not waited. I lose a big chunk of the position when waiting, but just curious to know if any of you are waiting on that pullback.

I am finding the POSITIVE fluctuations in changes in option prices are significant when holding over night and riding day after day. If this is the case, I am not surprised my mentor and other bigger chart traders earn significant gains over 5-8 trades a month. Heck, I made about as much in one week off big charts as I make in 3 weeks to a month. Honestly, it was much, much less stressful. It just cannot be as easy as it seems-Can't be!!!

From what I am experiencing is, if we understand Gary's teachings- meaning, reading the material, practicing, get a good news feed, document trades and tear apart, stay patient, disciplined, and prepared, it is not as bad as it appears. The fight and problems occur when there are components of this process that you simply do not understand-such as some of the questions I am seeking guidance. I feel really good about where I am, but my ability to be calm and patient is fighting against me. For an example, I exited FB and re-entered and quickly exited for no gain. the stock appeared to start moving in my directions, so I lost all discipline and re-entered. Well, you know what happened. Yes, it turned and I lost a couple of hundred bucks-JUST THAT SIMPLE. I broke my process that I had developed, and tried something different. I agree with Darcy in that a lot of the same practices are being used, but just on bigger charts. What I am finding that is about as important as anything I have ever stated is, if you trade big charts and try to develop your own unique style and deviate from what we were taught, you can lose big, big, big! I am finding success by trading just as Gary taught in 2-5. I have a few disciplines that work in concert with WSB- such as, closing up shop when I exit a trade. I have added to that process now. If I close up shop, I can re-enter, but only for a position that is screaming "Morning Pop". I think you guys know what I mean on this one. I just have to not get anxious and jump the trade.

I am going through the class AGAIN! I feel as if, I need to trade as close to the way I am taught as possible. I want to relieve a bit of my stress from sitting and watching candles all morning. Also, these small bursts of stress has taken a toll on me. I darn nearly lose my mind when a trade starts to turn on me on a very short trade. I many times exit with a $100-$300 gain. This big chart trading thing is different. I was in a trade for 2 days and made almost $3000. I was in 3 trades last week, and each of them were well worth the time of preparation. It takes a heck of a lot of preparation before jumping a trade on big charts. When I enter, I walk away because I know I am going to be in the trade for at least overnight and possibly longer. I am getting more accustomed to holding, until I have a reason to exit. Again, that option price does some freaky things from day to day. I will state again, please, please do not follow my lead. It will be like the blind leading the blind. As you can see, I am seeking help and guidance. I think my foundation is good, but my skills are not, so I have work to do on tightening those skills.