S/O's trade Nov. 5th

Minute by minute he says...



Edited 1 time(s). Last edit at 05/07/2015 09:19AM by Darcy2.

Darcy, Great trade on LINK; I appreciate when you take time to share these with us. Could you be so kind to help me understand how S/O determined that the pullbacks in this move were just headfakes and not reversals. S/O entered at 10:00 with the stock at $234.17. At 10:14 the stock had reversed up to $232.78 and the option was about a dollar down. With the stochrsi turned up(all charts), MF UP ON 2,5,10,AND 21, and theADX down (all charts), how did he know to stay in? With what I was seeing in the indicators and the market being in the green, I hate to say that I would have sold out and probably missed this entire move. Were there any specific indicators or other information that kept him in the trade, or is this just the art that must be developed over time? Thanks so much for all you do on this forum.

S/O



Edited 1 time(s). Last edit at 05/07/2015 09:19AM by Darcy2.

Darcy, Sorry about the transposition of the times and prices in my post. Just a couple more questions : is the 10 min chart the one you use almost exclusively to monitor your trades or do you use the faster charts sometimes? Also do you ever transfer the trade to a larger chart(21,34) to monitor? Thanks so much for your tutelage;

tpplayer32



Edited 2 time(s). Last edit at 05/07/2015 09:20AM by Darcy2.

Darcy,
Thank you for explaining the trade and answering all the questions that you do. When you and S/O are in that play (or any trade) I know you told tpplayer32 that you watch the "E", are you watching the E on the 10 minute chart or a different time frame.
I ask because it looks like it moved back up (against the put) at least a buck or more before coming back down. I've been thrown by this happening to me and taken some nice loses because I bail out too soon, only to have it come right back in my direction. Other times I'll try to ride it out and it won't come back in my direction and I'll take an even bigger lose.
So I guess I want to know is it the 10 minute E you look at to determine the distance between the lines or are you watching the 5,8, 21...

Thank you.

PastorP

S

I ususally do not trade much in Dec. Too many things to do to celebrate the birth of my Saviour.



Edited 1 time(s). Last edit at 05/07/2015 09:20AM by Darcy2.

Thank you.
It seems that you have scaled down to even smaller time frames if I'm correct. Most of your older posts have a 55 Gary Chart and a 21 E chart that you guys use. I know on those other posts you have said that the 55 Gary or 21 E didn't have to be complete but it had to be on its way. Have you just done away with them since they didn't "Have To" be complete? Does this help get you in earlier?

S/O



Edited 1 time(s). Last edit at 05/07/2015 09:21AM by Darcy2.