I did this as a practice trade... im still in it... 1st exit would have been 1/16, next exit would have been 1/24 at open, practicing a new exit and my prediction work... waiting to see if it pans outby ChairmanFaust - Trading Discussion
Darcy is right in that you have to find a method that works for you. You have to look at it like this: GW spent over a decade learning something that worked for him and is imparting that knowledge to anyone who wants to learn how he did it. There are lots of traders who make money in the market, a few offer their process. Some are easier to grasp than others, all require you to work at it. Finby ChairmanFaust - Trading Discussion
rookie20: any examples you could point to? bigmoney: are you suggesting that the histogram center line is like an analogue for the 50MA?by ChairmanFaust - Trading Discussion
If it is a market wide thing... that would be interesting... since I agree with bigcharttrader in that puts never seem to work this time of year, that said, I have noticed that the S&P and NASDAQ both show bearish div on the D MACD and RSI... the DOW on the D seems to be near the top of its MACD channel (going back from today to july)... I missed the boat in October so I've been patiently waiby ChairmanFaust - Trading Discussion
Quotetraildoc 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, (Hby ChairmanFaust - Trading Discussion
i also trade from a windows (PC) laptop, however, i have a matrox triplehead to go... I have 3 monitors hooked up currently and could go to four if i wanted... i like being able to bring it with me when im on the road (monitors stay home of course)by ChairmanFaust - Trading Discussion
BigMoney: those indicators below the CC, before the WIN goes off... are they indicating trend direction?by ChairmanFaust - Trading Discussion
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 currentlyby ChairmanFaust - Trading Discussion
my apologies, I found the original sign up form, its $150 for people who took the DE (Double Espresso) course, 1-5 students would have to pay the $1500by ChairmanFaust - Trading Discussion
BigMoney, I was looking into TS and wouldn't mind switching but I don't meet the minimum criteria to get the application for free and it would cost more than I pay for qcharts, maybe once I get rolling on real trades I can look into it again.by ChairmanFaust - Trading Discussion
Since its seems most on here are old GW students, as most here know he has revamped his course, I never took the old 1-5 classes but from all the people I have talked with at the current classes that did take 1-5, the way he teaches it now is much easier to understand... They seem to be quite happy in the way the material is presented and the roadblocks that they are now getting past by going bacby ChairmanFaust - Trading Discussion
rookie, thanks for your analysis... it helps a lot... I too am struggling lately... so I will continue practicing until I've put in enough chart work to see what I need to see in order to get this rightby ChairmanFaust - Trading Discussion
Just a heads up, got back from a GW class this weekend, he has a student who is starting his own charting software company, he has already licensed the code for qcharts and will improving upon it. GW says that he has a small stake in that company and has promised that the end result will fix the problems with the existing qcharts, add features in line with what's out there in other products, on tby ChairmanFaust - Trading Discussion
today NFLX HRFP on 55 and 21, E on 3, 5, 10... it blew through resistance despite an initial down market... any explanations? today the market seems to be coming up today whereas yesterday it was going down... that's the only thing I can think of as a difference..by ChairmanFaust - Trading Discussion
I'm posting my follies for learning purposes... yesterday (10/30) was interesting trade day... I'm still experimenting with E charts using virtual trades to get a feel for it. I have a 55, 34, and 21 GW chart w/ ADX visible, and a 3, 5, and 10 E chart. The 5 chart has GW RSI, MACD, and DM on it with ADX visible, the price window only has the E settings (5,10,20MA with Bollinger bands and candles.by ChairmanFaust - Trading Discussion
Could it be different default values? Qcharts default for ADX is a 14 period average, GW's is 13by ChairmanFaust - Trading Discussion
Richie, QCharts has "Log Scale", "Auto Scale Price and Studies", and "Auto Scale Price". It should be set to "Auto Scale Price and Studies" although "Log Scale" isn't different enough to worry about.... all it does in qcharts is reset the chart to a default setting... so if you expand the price settings to zoom in on something, it will go bacby ChairmanFaust - Trading Discussion
rookie30, I'm with you on this... doing these short chart trades are a great way to boost your trading leg on days when large chart trades are not available, I too do not intend to do short charts forever, GW wants us to buy options 5-6months out ideally, this is to minimize time decay and offers the best price/theta ratio for 233/D/W chart trades... if you're doing big charts, never buy optionsby ChairmanFaust - Trading Discussion
rookie you are correct about the macd... the reasoning is having plenty of exit signs but none of the 4 indicators crossing on the 233/D/W, you stay in the trade... on 10/9 the RSI on the 233 crossed and that could have been an optional exit, but seeing it was still moving up and the MACD on the 233 and D was still wide open I stayed, at the close of the 9:30 candle on 10/15 the MACD on the 233 cby ChairmanFaust - Trading Discussion
just for the sake of completeness.. ISRG exit on 10/15, close of the 233 9:30 candle, MACD collapse signaled the endby ChairmanFaust - Trading Discussion
brilliant explanation... ties a lot of things together for me with my limited knowledge, thanks again!by ChairmanFaust - Trading Discussion
Darcy2 Wrote: ------------------------------------------------------- > Short selling yesterday. Market covering it's > backside just in case. I don't like to trade when > market sells short. It is a "head fake". Could you explain this further? I don't follow...by ChairmanFaust - Trading Discussion
Rookie, I was looking at AMZN today as well, what kept me from entering was the resistance on the 55, the 50MA swooping down, the 200MA, and the top BB all right there... lately (except for yesterday) the market has been tired and resistance / support has been king... I've been trying to avoid them when I see them figuring at best the stock will go flat, at worst reverse. My loosing trade today wby ChairmanFaust - Trading Discussion
hey guys... same here... glad to hear I'm not alone either... everything was up in premarket, so at open all the charts had what my friends and I call 'space candles' just a huge gap up or down where the candle is in space outside of the BB... from there it went the other way or flat, due to most opening on resistance. A few made small gains but nothing worth the stress... this morning was the saby ChairmanFaust - Trading Discussion
ISRG still working for me, it at least made it above the 50ma on the D, its fighting with the 200ma on the 144 currently, my entry chart was the 233 on 10/7... we'll see what tomorrow bringsby ChairmanFaust - Trading Discussion
neckline broken today as far as I can tellby ChairmanFaust - Trading Discussion
Hey rookie I agree w/ you 100%... exits can be hazy... I've seen it go both ways, flat at lunch and then the wrong way or flat and then full steam ahead in my original direction... My goal is to keep the emotion out of it as best I can by finding technical indicators to exit on, the best one so far seems to be 5ma over 10ma on the 10chart... but there are times when you see the 5 candles doing fuby ChairmanFaust - Trading Discussion
well good thing it was a practice trade, I'm still up in the position, however I got all my exit criteria by the end of today's trading... I have much to learn when it comes to GW tradesby ChairmanFaust - Trading Discussion
Hey guys I joined you in that trade, I also did some others, all virtual trades in the name of nailing down an exit strategy... I find myself mixing the 5e and 10e charts depending on the move: Date Symbol Entry Entry Notes 8-Oct ISRG 9:34 $17.80 E-Continuation from previous day 8-Oct PCLN 9:35 $18.70 E-Continuation from previous day 8-Oct LNKD 9:45 $5.75 E-Continuation from previousby ChairmanFaust - Trading Discussion