MA

What a great and crazy market today.

I actually decided 4/8/13 to watch MA today for a down when on the 55 chart the 2:05 candle could not break through the 50 moving average.

So today I entered MA on the 21 moving average chart @ 9:53 buying 4 PUT contracts @ 7.05. I sold @ 11:42 for 9.85. I cleared $1,119.86.

Great Trade Darcy and thanks for sharing. Keep up the good work. That was a good sniper trade giving the market turned up so strong today.

Darcy,

Is this something you considered a "sniper trade" due to a rising market?

BCT...

No I didn't see it as a sniper trade. The market was up, down, sideways then up before another pull back down.

Daily chart clearly on MA showed the trend down today which confirmed all the more reason for me to act.

When I enter a trade on my small charts I look at the Daily as I have said in the past to see if it is confirming my trade. This let's me know the strength of my move. MA was up yesterday and when I read the news about the EU investigating MA fees at 6:30 this morning I knew the stock would pull down but not how much.

I added that news to seeing that MA could not break the 50 moving average on 4/08 on the 55 so I entered my trade when it fell below the 50 on the 21.

I use moving averages often to enter or exit trades. I see them as weights against my candles. Many times I exit because I am happy with my gain. Sometimes I simply know with 85% certainity that my trade will continue for a day or so simply by looking at the moving averages.

I have to get a new key board...my keys are sticking.



Edited 2 time(s). Last edit at 04/09/2013 09:44PM by Darcy.

I have been watch the forum for a few months. I am also a Gary student so this is great discussion. Thanks for posting trades and being willing to discuss charts. Excellent discussion Darcy and its easy to go back and see your thought process.

BCT thanks for asking the questions you ask. They are very specific to WSB and helps everyone here. Its great that this is such a positive environment with no attacks on each other. Please keep posting.

My plan is to find a potential trade each weekend to post and reason why (indicators) and let people respond. Do you think this goes against the waiver we signed, More of an educational purpose for me and to practice putting whats in my head into writing.

Thanks again

Czechtrader:

Thanks. As long as you are not personally advising someone else to enter trades then I don't think there is a violation of waivers signed. I see it no differently than talking about your retirement portfolio with co workers at the watercooler so to speak. I really appreciate Darcy's point of view as well and its great to view others live trades as an educational tool, not as a way of piggybacking.


Darcy,

I hope in no way have I offended you with any questions I may have asked. I truely just wanted to get inside your head and not attack your thought process or trades. Obviously, you know what you are doing.

Hi, I didn't mean to classify your trade as a "sniper trade" per say. I was just making an observation giving that the general market was up on the day. Sorry for any confusion and I agree that this is a great place to share and learn. Thanks to all

Just to let you know. I have followed Darcy's posts for nearly a year or more. I print them off and spend time dissecting her processes. I have my own style of trading, but I like finding ways to make my trading more accurate and less stressful. My trading has improved 40-50% since listening, backtesting, and implementing some of the approaches that she finds in books, her uses of MA's and other technical indicators. I am now trading over 90%.

I think it is imperative to find what works best for your personality and find ways to tweak your system. I am probably the only one in the history of WSB who uses a 13 chart in so many different ways. I place 3-4 trades a week. I almost never look at a chart larger than my 55. My decision is made from my 13 in conjuction with my 55. My losses are very, very small. I am very hyper and according to my wife, I should be on a Pill. Trading from smaller charts fit my personality perfectly. I want to see results today-not tomorrow or next week. I will learn how to be more patient during the Fall/Winter zone, but for now, I am nickel and diming.

I trade intraday for the following reasons:

I am well over 90% accurate intraday opposed to about 65% using bigger charts.
I enter and sell 75% of my trades by 12:00 (usually earlier)
For the most part, I know within the first hour of the morning whether or not I am going to place a trade
I can sleep at night because I am not in an overnight trade that could go against me and tank before the market opens
Within my expert stocks, I have at least 2 a week that are as basically 100% winners
Once I sell a position, I am finished for the day. I have no need to enter a trade before the market closes.
I anticipate my style of trading will work very well through the summer. I will start back testing this weekend.

First let me say to TCB…We had PM’d each other often enough that I am not the least bit bothered by the sniper reference. Gosh one can’t understand until they ask or even think so that doesn’t bug me in the slightest…really.

The way I understand Gary’s sniper meaning is a particular stock is going up and you trade it going down that is a sniper trade and so if you had seen MA the day before as it was up it would only be natural to think that maybe it was a sniper trade.

I do 3 types of trades off a 55, 21, (21 moving average) and 10 (moving average) chart. I do CALLS, PUTS and PEAKS. My PEAKS plays are generally a PHARMA and nothing else.

So no sweat, TCB! I know what you meant. (It is a Coke...I don't drink anything stronger!)

BCT …I am not hurt, bothered or bugged by the question. I have a thicker hide than a few questions can penetrate. I do not mind trying to get into my head to understand how I trade.

I have spent 9 years reading, practicing, rebuilding, reading, listening, learning, practicing, learning, listening, reading, practicing, listening, reading and learning not necessarily in that order.

I want everyone here to do well and advance in their trading. If I can help I am more than glad to do so. We all have different reasons for trading. I have a very personal and private one.

Rookie,

We aren't that far from trading almost alike. I do not use a 13 chart but it sparks my interest.

Thank you for the kind comments. I am so very, very happy your trades are doing well for you.

I want you to WIN and

WIN BIG!