Treading carefully!!!by rookie30 - Trading Discussion
Thanks Darcy. I am watching CF like a hawk watches a rabbit! RTT is showing that it is trending down this week. Irsmart, Believe me, I have the battle scars to prove I have made those mistakes time and time again! As soon as the the DOW turned green and started to show a little push up, I was out! Welcome on board! This forum has attracted some really good additions. I am still learninby rookie30 - Trading Discussion
I just got a pinch off AMZN! Fat PItch on the 55 and signaling Put from previous day, below 8 MA, "E" on MA Chart off 13-(5,10,20), Broad heading down at the time, and MACD spreading. A ton of indications for a short trade. I bought puts at about 9:45 and sold at about 10:25, picking up a little over $2 on the move. I had no reason to leave the trade, but as I mentioned earlier, I haby rookie30 - Trading Discussion
Today I watched a few trades set up, but I stood behind my personal rules and did not trade. I was almost positive that FB was calling my name at about 11:10 on a Put- today, but I did not enter for a few reasons. -The direction of the trade was going against the market. -The price did not break the previous day's low -It did not set up in my sweet spot (9:50-10:30). I saw a clear tradeby rookie30 - Trading Discussion
Very well said BigCharts... All of us used WSB as our baseline to our strategies, techniques and approaches to trading. After hundreds of hours of reading, study, practicing, and thinking about ways to make this work, I found a couple of things that forced me to trade a little differently. When I followed all the rules as I understood them, and traded no more than 1/2 my basket ($1250), thby rookie30 - Trading Discussion
Good stuff Darcy! I use much of the same process, with a few twists. You are such a technician who has developed excellent strategies. When the market opens, I first look at my expert stocks and look for a break on the previous day's high or low. I do not trade well without having this peice in place, although I have pulled the trigger before a break. I check the Dow, Nas and futuresby rookie30 - Trading Discussion
The "E" is powerful! If it forms, and Dow, Nas, ADX and Money Flow are going in same direction, it is screaming at you. The "E" works perfectly on my 13 chart as well. Well, this is where I look for my "E". I had a great trade on AAPL yesterday, but was forced to sit on the sidelines today. My 9-5 has me humping.by rookie30 - Trading Discussion
Irsmart, I am a little sensitive to the idea of those who want this, but do not want to work for it. I might have been a little too direct or presumptuous in some of my comments. To the forum, If your were offended by any of my comments and your are devoting time and genuine interest to learning how to trade, I apologize. I have been burned by a few folks who I sponsored to attend Survivoby rookie30 - Trading Discussion
TCB-Amen to that! We will continue to pray for your family. It is great that you are able to spend some quality time with them.by rookie30 - Trading Discussion
My 2 cents about a trading platform.... I swtiched from Qcharts to Strategy Desk about 5 or 6 months ago. Qcharts was too expensive. SD is free. I was able to set my charts up exactly like my Qcharts. I will probably be with SD for the duration of my life. I am trading well, and a lot of that success is due to having charts that I can trust.by rookie30 - Trading Discussion
Darcy, Welcome back! I pray that everything is ok in your family. I am forced to trade everyday from a laptop, so I totally understand. After getting accustomed to it, I am starting to like it because I can take it anywhere with me. I can hotspot it with my phone, and I am trading from anywhere. Again- Welcome back....by rookie30 - Trading Discussion
For some of you members who might be new, I want to make a few comments about trading from the WSB approach. I am a living example that if you want this bad enough, you can do it! You can dicatate how much success you have. As you can see from all the posts, the monthly financial investment is very minimal, but the investment of time is NOT! I made comments in previous posts that I was atby rookie30 - Trading Discussion
Dash, your comment or question about trading with no candles sparked my interest. I can definately remember that comment from Gary on the CD. I was really busy on the 9-5 this past week, so I did traded 2 days based on no candles or charts. Of course I did practice trades. I simply used my cell phone and my desktop to see what was going on with specific stocks. It is amazing how theby rookie30 - Trading Discussion
I have been a little taken back by how much specific information is being revealed. I think we give a lot to this forum regarding how each of us trade, and we talk about some specific techniques we use. I think we are starting to disrespect Gary when we disclose his specifc chart parameters. Those finite details should not be disclosed. Please understand, there are people on this forum who areby rookie30 - Trading Discussion
I forgot to mention... I cleared $719.81 on the trade. Most I have cleared on a trade this year! Happy In Hawaii!!by rookie30 - Trading Discussion
I have been studying bigger charts and wanted to share this trade with the forum. CF and AAPL were the first two stocks I traded, so I know CF fairly well. I have listened to BigCharts and started watching larger charts for a solid trend. I noticed on yesterday, the 24th that the bigger charts were showing a lot of strength. The Daily had a lot of fuel and had broken my mid-band. The 233 hby rookie30 - Trading Discussion
I will spend time practicing as much as I trade during the summer months. I also feel if I can trade well during the summer, other zones will be fairly easy. I have never had a successful summer. I know so much more now than I did last summer, so maybe I will do better during summer 2013.by rookie30 - Trading Discussion
Cztrader, I have not left my home computer running, but if I can remotely connect to it and solve my problem, I will definately leave it on. Unfortunately, practically everything is filtered through my work server. I also have to use a "HotSpot" from my phone to access my laptop. Unfortunately, today I tried using my laptop to run charts, TOS numerical application, TOS MSNBC, and my bby rookie30 - Trading Discussion
Thanks TCB- I will start taking a look at some laptops that will hopefully perform well for my needs.by rookie30 - Trading Discussion
TAD- Technical Analysis for Dummies. I will have to get the pages, but there are MA parameters suggested in a section of the book. I have one of my workspaces set to those parameters.by rookie30 - Trading Discussion
NFLX was expensive too buy this morning. I am ok with the trade, but in hindsight, I should not have placed the trade based on the position size for me. The spread was also crazy! As I said before, God takes care of his babies and fools. I am not a baby!by rookie30 - Trading Discussion
Went into my office at my 9-5, I crank up my computer and guess what? They have place a new filtration system on our server, so now I cannot access TOS. TOS is really, really big because I can see the futures at a glance, as well as, see the live movement taking place on all my expert stock. Is anyone trading from a laptop only? If so, how does that work for you? I need to see a news feed orby rookie30 - Trading Discussion
I hear several of you talking about the spread or premiums price being used as an indicator that helps confirm entry and exit. I know Gary talked about entering when the spread is really small or as close to 0 as possible. I have not used that because I do not fully understand it. I try to buy when premiums are minimal, but I do not buy based on and indicator and more as a cost effective approby rookie30 - Trading Discussion
I had the same experience with AAPL over a year ago-when it was flying up. I actually got caught and jumped out with a loss. My mentor told me (One of Gary's longtime students) that the Market Makers are occassionally trying to flush folks out of positions. I do not quite understand how it is done, but they have the power to cause movement in a stock. It only works with those who do not know hby rookie30 - Trading Discussion
Darcy, It appears that learning how to trade GAPS is very technical and much more than I can grasp in the near future. As always, I will print and place in my file for future studies. Thanks again for your time and contribution to the forum. Big Chart Trader- Your forum name fits you well. I could not stomach the fluctuations that happen on the smaller charts. It is obvious that you have dby rookie30 - Trading Discussion
BCT, I have a question. If I am looking at this correctly, you had to "stomach" a fairly significant rise on the 16th-correct? On the 233, the second candle on the 16th (doji) looks to be a continuation or spinning top-indicating a rise. I cannot find anything on any chart that would have led ME to think it was going to continue going down. That entire move is significant becaby rookie30 - Trading Discussion
I went back and tried to figure out what happened over the last couple of days with my trading. Thanks Big Charts for suggestions regarding looking at that 55 as a key indicator when making decisions. Those candles on the 55 speak very clearly. Just gotta listen and know what you are looking for. That second candle on the 55 on CF (April 15) was clearly a candle that could and most likely wouby rookie30 - Trading Discussion
TCB, That was a great trade. I see you are getting a bit more comfortable with the 13! I think you will find that the 13 is a great "poor man's" chart. For the most part, you will not get long runs, but you should make money from the chart. My thought process is, if I buy enough contracts, I am still rolling right along. I had tunnel vision this morning and should have beeby rookie30 - Trading Discussion
I am becoming more and more aware of when we move from one zone to another. I assume we are moving into another zone. As of Monday, I saw major, uncommon fluctuations take place in some of the stocks I trade. These changes really have been working with me mentally. I am choosing to sit and watch today because I am AFRAID TO TRADE! I am seeing movements that are extreme in one direction and atby rookie30 - Trading Discussion
I traded calls on CRM today. I rode it up for about $2. I am happy with the trade. I watched CRM break a little resistance at about 167 and RTT showed an uptrend on the week. It had not broken my previous day's high, but my 13 and 55 looked strong. The DOW was also going north. I had a HRFP on my 13 and candles were well above the 8 MA. Money Flow and Directional Movement were pointingby rookie30 - Trading Discussion