I decided to trade a bit differently today. I have been exiting my trades too early and not getting the chunk in the middle. I have been getting the crumbs off the floor. I bought puts on AAPL this morning. I have gone back to WSB 101 and Steve Nison's video on candlestick trading. I have started drawing lines on my charts for areas of support 1 and 2 and resistance areas 1 and 2. I went thrby rookie30 - Trading Discussion
I just made a very, very quick trade off my 5MA chart. I traded NFLX-going against the market. It is obvious why I made the trade-if you have read any of my posts. I trade momentum-PERIOD! If you take a look at the 21,34,and 55, you can clearly see that I had a tremendous amount of strength behind me on this trade. The only big monster that was not going in my directions was the DOW or NAS.by rookie30 - Trading Discussion
T and H technique has intrigued me since hearing Gary explain how the process works. Has anyone tried, or is anyone presently doing this technique? I am seriously considering giving it a shot. I know it is very risky and as a trader, you better know what you are doing, or a ton of money could be lost. Honestly, I do not know why I have not tried this concept a bit earlier- especially after fiby rookie30 - Trading Discussion
My suggestion is, do not trade a dime of your money until you have been hitting consistent winners in practice. If you are not winning in practice, you will lose with real money-and more quickly. $1200 is a good starting point, if you are accustomed to winning in practice. Take these suggestions from people who have been there over and over again. Unfortunately, most people want to see for thby rookie30 - Trading Discussion
Autowave was by far one of the strongest indicators I have ever encountered, but that function alone costs nearly $40 extra a month with Qcharts. Autowave simply amazes me. It is was beautiful thing to see that line draw.by rookie30 - Trading Discussion
That is awesome! 10% in 3 minutes is taking what the markets gave you and jumped out with a bit of extra cash. If they do not line up, no trade! Good stuff.by rookie30 - Trading Discussion
Thanks! I will take a look at OE.by rookie30 - Trading Discussion
Good stuff Darcy. I am diving back in your head again as I read about Gaps in every book I have. The best education for me is to break down your trades and figure out what you see and how you draw conclusions to entry and exit based on Gaps. I will take a look at VZ. It is not one of my stocks, but I want to take a look at your trade, and follow it as best I can. This is not easy stuff, butby rookie30 - Trading Discussion
Yes, it has been very difficult to find good trades. I am glad someone is making some money. I am sitting on the dockside again- BUT I STILL HAVE MY BASKET!!! I have traded maybe one day this week, but I am ok with that (well not really), but again it beats, losing my basket.by rookie30 - Trading Discussion
Dan, you are absolutely right on both acronyms. rebwayne, I have a great deal of confidence in going long, if the stock opens or breaks above the previous day's high. I have a great deal of confidence in going short, if the stock opens or breaks below the previous day's low. For intraday trading, I feel this is very, very important. Once it breaks that level of resistance, it generally wilby rookie30 - Trading Discussion
Sorry about the bad written communication above.... I look to exit when my 5 cross my 10 ON MY 5MA chart. This takes me out a lot faster, but again, I have experienced my option price dropping- when waiting for my 5 to cross my 10 ON MY 10MA CHART. Just wanted to make that point clear. How do I feel a trade? I can feel the sense OF energy and momentum of my stock based on the size of theby rookie30 - Trading Discussion
I have been out of trades for the last two days. I simply have not found an area of strength/momentum that I felt I could ride for a couple of dollars, so I watched patiently. My intraday trading style is very practical. I think of the first 15 minutes of trading as very volatile (as we are taught). I think some of the traders who held overnight are taking profits, the amateurs are buyingby rookie30 - Trading Discussion
Thanks for the information. I will surely take a look at the site. I am trying to find a good alternative to Briefing. I do not want to pay $65 a month for news, but if I am reduced to paying that amount, I will.by rookie30 - Trading Discussion
I love LNKD.... I have it in my basket also.by rookie30 - Trading Discussion
I sat on the fence and watched the "Big Dawgs" do it today. My limited knowledge simply did not allow me to think about trading today. The mixed stuff this morning had me totally uneasy, so I figure, if I am not comfortable with it, just practice and prepare for tomorrow. I just did not get any kind of feel for it today. Good trade Darcy. That was a "Beast" of a tby rookie30 - Trading Discussion
You are correct. I traded AMZN today also. I traded this months options. I had an excellent profit.by rookie30 - Trading Discussion
Just my little 2 cents.... When I enter a trade and I see the stock has gone up or down, but my option price continues to stay the same, I am looking to get out. If I forgo my commissions, no biggie. I am out! One more.. If I am in a trade and the stock is moving really good and my option price is moving nicely, I am feeling pretty good. When your option price has moved well with your sby rookie30 - Trading Discussion
Once you get it, it is yours forever! People can take a lot of things away from us, but no one can take away our knowledge. I have said before, this is by far the biggest challenge I have ever faced, but as all other obstacles, I found a way to make this work for me. My wife has asked me to consider training and teaching this to others. As I told her, I am not going to work for anyone else.by rookie30 - Trading Discussion
FOSL is a seasonal stock that runs up and down, up and down, up and down during the holiday season. It mostly goes up, but it provides some serious Ocean Tide action. It has started to do it's thing. I wear Fossil watches. I love them and alway have-mainly because if it dies 10 years after purchase, you return it, pick out an item that is equal to the purchase value, and get it. No hassles. Iby rookie30 - Trading Discussion
Learning to trade well will solve a ton of your problems revolved around finances. Lets face it, when you are broke, everything revolves around finances. I was there a little over 2 years ago. I doubt any of you were "Broke Dawg Broke". When you are BDB, you are spending more than you make each month. You are borrowing from Peter to pay Paul. You drive like Ms. Daisy, only pressinby rookie30 - Trading Discussion
Ha Ha! I am glad you are continuing to ride this horse until he is broken. I got bucked off a little early-lol! I am still HIS.by rookie30 - Trading Discussion
Darcy, For the first time, I think we made the same trade and entered about the same time. I entered at about 9:50ish and exited shortly at about 11:10ish off the Doji (13). I was about to post my set up and entry/exit. It shaped perfectly and was a winner! I made a chunk off this trade this morning. I like trading CF. When it sets, it goes in my direction long enough to earn a good profiby rookie30 - Trading Discussion
The information Darcy has provided is about 80% of the way I trade. Heck, I took time to tear her trades apart, follow the concepts along with what I know, and as a result, my little intraday style is pretty solid. In addition to the information provided, I want to see a break on the previous day's low or high-in most cases. For me, this action provides me with an additional source of momentby rookie30 - Trading Discussion
mtut, Thanks for the post. I appreciate your comment, and agree with you. The only concern about trading intraday is, if I am not in my office and miss the critical entry point, I could miss the trade, or start chasing. The critical entry point for an intraday trader is by far the most important aspect of trading (my opinion). Also, my rule is, when I am in and out, I am in and out for the dby rookie30 - Trading Discussion
I also value your trades. Most do not know, but I am working diligently, trying to learn this craft of trading big charts. I feel really good about where I am in the process and I have had some pretty good practice trades. I use Daily, 233, and 55. Mostly 233 and 55. The one thing that is very important is, I do not have the time to give 4 or 5 stocks the attention needed to trade them wby rookie30 - Trading Discussion
My mentor trades APPL and FB and ocassionally NFLX. He catches the big pops in the AM. He caught the rise on NFLX yesterday and the drop on AAPL today. He trades almost a mirror image of the way Gary teaches. He was one of Gary's original students. I did not take the advanced class, but my mentor talks about "Double Expresso". I understand that it is not customary for me to asby rookie30 - Trading Discussion
I lost $400 this morning on Put trade on HAL. There is nothing I would have done differently, but as always, I will tear it apart this weekend and check all my notes and approaches. I hate losing, but since my last lost, I have made as much as some make in a year, so I can live with that. I guess I need to leave seafood alone for a while-lol! I am looking at this trade now and......ok....by rookie30 - Trading Discussion
Mikeandy, I agree. I like Strategy Desk (component of TOS-I think).by rookie30 - Trading Discussion
OH MY MY MY...... I HAVE A NEW FOUND RESPECT FOR SEAFOOD! I hope you are trading well. Rookie30by rookie30 - Trading Discussion
Sniper Trading...... Take one stock and take a quick look at this. Lets use AMZN. Pull up your 13 chart. Take a look EVERYDAY at the time frame from 9:30-11:30. What do you see? The stock moves considerably one direction or the other during that window of time about 90% of the time. That movement is my "SWEET SPOT". All I do is use indicators and a little art to catch that moveby rookie30 - Trading Discussion