How I find what I want to trade

I still use Qcharts and will continue to do so as long as they are there. However, I do not have all the bells and whistles that GW had us sign up for in 1-5.

To find what I will look at for a trade the very first thing I look at is my QUOTE SHEET; NET and NET SINCE OPEN. I compare the net and net since open which automatically tells me which direction that stock is going.

EXAMPLE @ 11:52 on 2/16/23 looking at ROKU its NET is 12.35 and the net since the open is 6.42. Lots of information is there. For instance the move that I could have traded on at the open was 5.93 up. From this point I look at the charts starting with the 8 to see if I can clip a dollar or so. What do I look for SUPPORT or RESISTANCE. I look at my Bollinger bands which expanded (that's volume) and they are coming back together and I look at the GREEN line part of GW's Christmas Cross. NOT THE RED ONE!

Next, I look at the candles...NOT A PATTERN but the size. Are they increasing or decreasing?

Then I look at the moving averages 20, 50, 200...are they spreading further apart or are they getting closer together. Further apart generally means a pullback closer together a possible trade.

Finally, I look at the 21, 34, and 55. Is there room to run and run at least $1.00 up or down.

Looking at TSLA at 12:06.... NET is 1.08 and the NET SINCE OPEN is 4.54 (in the green) which way is the stock moving? DOWN and I can see this just by looking at those numbers.

AMD... red (down) on the NET at 2.23 but green (up) at .03...flat. Looking at AMD on the 8 chart it is butting up against the 200 moving average and it is hitting the bottom gap line from the open. This tells me strong resistance so I look at all my charts at the moving averages and there is a strong resistance so I mark this for a later look see because the next support area for MORE DOWN is almost $1.00. Time to see the volume of trades going through. (another quote sheet on same page) AMD ranges between 40 - 50 million and right now it is at 27 million so I set my alert so I can come back at 12:26 (next candle on the 8 which tells me the possible direction).

Hope this helps.

Yep, in at 12:52 out at 3:15...Why? Because the candle was going out of the Bollinger bands. That's how I trade and how I find what I will trade for the day.

March 1, 2023...QCOM in at 10:40 and out at 11:09 bought 5 March 125 PUT for $4 and put in GTC for $4.30. Left to get other things done and looked at it when I got back. Used 5 and 8 chart, 200 and 50 moving averages and volume Moving slow so I used the numbers where the moving averages were on the 5,8,21 and 55 to see about where this stock would settle. Looked like I could grab .50 but I set my GTC for .30 because of the volume. I found it strange that was all it looked like I could make since they were paying a .75 dividend. I expected a larger drop and because my numbers weren't showing that I decided to get my money and run.

Darcy3 Wrote:
-------------------------------------------------------
> I still use Qcharts and will continue to do so as
> long as they are there. However, I do not have all
> the bells and whistles that GW had us sign up for
> in 1-5.
>
> To find what I will look at for a trade the very
> first thing I look at is my QUOTE SHEET; NET and
> NET SINCE OPEN. I compare the net and net since
> open which automatically tells me which direction
> that stock is going.
> https://eldfall-chronicles.com/product/single-model-kitsune-spellmaiden/
> EXAMPLE @ 11:52 on 2/16/23 looking at ROKU its NET
> is 12.35 and the net since the open is 6.42. Lots
> of information is there. For instance the move
> that I could have traded on at the open was 5.93
> up. From this point I look at the charts starting
> with the 8 to see if I can clip a dollar or so.
> What do I look for SUPPORT or RESISTANCE. I look
> at my Bollinger bands which expanded (that's
> volume) and they are coming back together and I
> look at the GREEN line part of GW's Christmas
> Cross. NOT THE RED ONE!
>
> Next, I look at the candles...NOT A PATTERN but
> the size. Are they increasing or decreasing?
>
> Then I look at the moving averages 20, 50,
> 200...are they spreading further apart or are they
> getting closer together. Further apart generally
> means a pullback closer together a possible
> trade.
> https://erasmus-home.com/en/rent-apartment/rent-apartment-zadar/1, 34, and 55. Is there
> room to run and run at least $1.00 up or down.
>
> Looking at TSLA at 12:06.... NET is 1.08 and the
> NET SINCE OPEN is 4.54 (in the green) which way is
> the stock moving? DOWN and I can see this just by
> looking at those numbers.
>
> AMD... red (down) on the NET at 2.23 but green
> (up) at .03...flat. Looking at AMD on the 8 chart
> it is butting up against the 200 moving average
> and it is hitting the bottom gap line from the
> open. This tells me strong resistance so I look at
> all my charts at the moving averages and there is
> a strong resistance so I mark this for a later
> look see because the next support area for MORE
> DOWN is almost $1.00. Time to see the volume of
> trades going through. (another quote sheet on same
> page) AMD ranges between 40 - 50 million and right
> now it is at 27 million so I set my alert so I can
> come back at 12:26 (next candle on the 8 which
> tells me the possible direction).
>
> Hope this helps.



That's great advice, Darcy3! It's always helpful to see the different indicators and tools at play in the market. Thanks for sharing your insights - they are very valuable!



Edited 1 time(s). Last edit at 03/15/2023 03:42PM by JamesBasej.

Darcy3 Wrote:
-------------------------------------------------------
> I still use Qcharts and will continue to do so as
> long as they are there. However, I do not have all
> the bells and whistles that GW had us sign up for
> in 1-5.
>
> To find what I will look at for a trade the very
> first thing I look at is my QUOTE SHEET; NET and
> NET SINCE OPEN. I compare the net and net since
> open which automatically tells me which direction
> that stock is going.
>
> EXAMPLE @ 11:52 on 2/16/23 looking at ROKU its NET
> is 12.35 and the net since the open is 6.42. Lots
> of information is there. For instance the move
> that I could have traded on at the open was 5.93
> up. From this point I look at the charts starting
> with the 8 to see if I can clip a dollar or so.
> What do I look for SUPPORT or RESISTANCE. I look
> at my Bollinger bands which expanded (that's
> volume) and they are coming back together and I
> look at the GREEN line part of GW's Christmas
> Cross. NOT THE RED ONE!
>
> Next, I look at the candles...NOT A PATTERN but
> the size. Are they increasing or decreasing?
>
> Then I look at the moving averages 20, 50,
> 200...are they spreading further apart or are they
> getting closer together. Further apart generally
> means a pullback closer together a possible
> trade.
>
> Finally, I look at the 21, 34, and 55. Is there
> room to run and run at least $1.00 up or down.
>
> Looking at TSLA at 12:06.... NET is 1.08 and the
> NET SINCE OPEN is 4.54 (in the green) which way is
> the stock moving? DOWN and I can see this just by
> looking at those numbers.
>
> AMD... red (down) on the NET at 2.23 but green
> (up) at .03...flat. Looking at AMD on the 8 chart
> it is butting up against the 200 moving average
> and it is hitting the bottom gap line from the
> open. This tells me strong resistance so I look at
> all my charts at the moving averages and there is
> a strong resistance so I mark this for a later
> look see because the next support area for MORE
> DOWN is almost $1.00. Time to see the volume of
> trades going through. (another quote sheet on same
> page) AMD ranges between 40 - 50 zumba on demand million and right
> now it is at 27 million so I set my alert so I can
> come back at 12:26 (next candle on the 8 which
> tells me the possible direction).
>
> Hope this helps.

It seems like you have a well-structured approach to analyzing stocks using various indicators and metrics. Your method involves a combination of net values, Bollinger Bands, moving averages, candlestick patterns, and volume analysis to make informed trading decisions. This comprehensive analysis provides you with a snapshot of a stock's current situation and potential future movements.

Your emphasis on understanding the direction of the stock by looking at net values and comparing them with different moving averages is a solid strategy. Additionally, incorporating volume analysis and identifying key support and resistance levels further enhances your decision-making process.

It's evident that you've developed a systematic and disciplined approach to your trading, which is crucial for success in the dynamic stock market environment. Keep refining your strategy based on your experiences and market conditions, and remember to adapt to changing circumstances.