I am an analyst by profession so I love the charts. That said, it has been drilled in me for years to drop the engineering mindset and learn the art of trading. At the end of the day it would be great to see successful posts of how folks use this information. All the charts in the world will not help if someone is not able to execute. On a side note I do believe we have an oversold bounce comby NCTrader - Trading Discussion
Another book newbies can add to their reading list if you are learning on your own w/out training: Alexander Elder, Come Into My Trading Room. A classic. If you pickup nothing else you always want a decision/action chart to be going in the direction or in context of a larger trend chart. Daily in context of the Weekly, 60 minute in direction/context of Daily, 15 minute in the direction/contexby NCTrader - Trading Discussion
I had already decided to comment before clicking on your link to see which YouTube videos were referenced. I was gong to suggest navigating over to the TT site. I watched all the interviews with TT as they were released. TT post interview discussions provided some insight on how she probably managed her positions using TOS. Another point of emphasis. She spent years learning and practicing beby NCTrader - Trading Discussion
Last comment for awhile as I plan on spending my time in 2016 studying the charts and doing considerably more of the grunt work to improve my trade analysis. WIP is spot on!! I walked out of the original classes years ago thinking I was to immediately go out and find 5 to 10 trades per month. Several times during the learning process I had 2, 3 or even 4 good trades early in the month and thenby NCTrader - Trading Discussion
Just a comment regarding the merits of the program and small charts vs. large since that was part of the original question. Either process can work quite well if you stick with it. Just don't jump around. Make a decision, stick to it, and don't quit. As for the big chart process that is actually taught, all you have to do is go look at the big charts for pretty much any stock since Jan 1. Iby NCTrader - Trading Discussion
Very simple answer. The survivor class, and probably the pursuit of short chart trading, is absolutely not worth it - for you! Why not put your money in a mutual fund and spend the time you would dedicated to trading with your family?!? Not trying to be harsh but your post is filled with doubt before you even begin. Do you think Steve Jobs sat around wondering if they should really release thby NCTrader - Trading Discussion
Appreciate the insight. I have been using LogMeIn for years. Started when it was free but they have since started charging.by NCTrader - Trading Discussion
I was going to print charts so support my comment but have too many other things to do. Those that are interested can go look it up. I remember 2009 well. To this day I can tell you that the market turned around 3/9/2009. I just disproved that thought because the actual day was 3/10/2009. What I learned during that time, toward the end / after the fact, was to turn off the TV and radio. Listeby NCTrader - Trading Discussion
Certainly, although the answer will not provide any great insight. My friend didn't sell the calls because of his personality. His thought process was "I got my 5%" or whatever and moved on. He was about taking shortcuts, doing his thing, getting the minimum and moving on, inflexible of changing once things started working out. Imagine doing a W/O as instructed, you are up 3% or 5%by NCTrader - Trading Discussion
One last thought regarding autowave. Certainly not suggestion that I located the "key" and someone needs to figure how to insert said key into the lock. I only looked at 8 stocks across 4 years each. Could have been lucky and the next 100 would have proved me wrong :-) I do think that if I was hitting every high and low for those 8 stocks 90%+ of the time I was in the ballpark. Anyby NCTrader - Trading Discussion
Kars, The value of Alchem will be based on how much you are plugged into the GW style of trading, especially the new Survival series. If an old 1-5 student only had experience with QCharts and was looking for something new then Alchem would be a good choice. Familiar platform, more stable, and the preconfigured charts. Plus the price is cheaper and they include splits & earnings in theby NCTrader - Trading Discussion
*** Perform a little housekeeping. Big Chart Thread got a bit off topic. The below response was my answer to my thoughts on Alchem charts vs. other platforms. *** Moving to this location to keep things tidy. RT, I really like Alchem and I choose to use that platform day in / day out over TradeStation (which I really like as well). Now that Alchem has added tools that allow betterby NCTrader - Trading Discussion
*** 12/5/2015 - Moving my response regarding thoughts on Alchem vs. other trading platforms to the Alchem Chart thread. Link below. Just trying to keep things tidy *** Alchem Charts NCTby NCTrader - Trading Discussion
All, I hope djpl8 does not mind me using AMZN 11/11 as a big chart example. I used to see this quite frequently in the forum: don't know what to do if big charts and small charts disagree, get into perfect short chart trade only to have it go off a cliff, the small charts always seem to lead the big charts but when I get in it never seems to work out, etc. For those that are still confused tby NCTrader - Trading Discussion
I haven't watched the video so this is just an opinion based on memory. Just what I now about TT and their thought process. Since they are statisticians they believe in more observations (i.e., little trades.). TT would prefer to see you make 10 trades using 1 contract vs 1 trade using 10 contracts. A better representation is 100 using 1 or 50 trades using 2 contracts vs 10 trades using 10 coby NCTrader - Trading Discussion
Being good with printing press simply means you must be good at seeing the ebb and flow of the stock. You know it will rise from point A to D. It may decline once it hits B but then continue up once it hits C to eventually break B and reach D. If you buy the stock you can hold it forever. If you buy LEAPS they will eventually expire, cost significantly more than options we trade, and you stilby NCTrader - Trading Discussion
Cannot really comment on TT's motives. It was easy for me to accept their hypothesis as I work in a quantitative field where we analyze statistical probabilities. I get what they are saying. I tried to take their self proclaimed motive at face value - to educate the younger generation on how to trade. Could be a ploy to increase bottom line and make money. Since the founder is the same guy thby NCTrader - Trading Discussion
One point of clarification. The only reason I said TT doesn't mesh well with GW is that TT doesn't believe in seeing a directional change. Most of their trades are based on statistics (directionless). They do not generally believe in being able to seeing a directional change (i.e, random walk). Still good stuff though and the two main guys are former OEX market makers. Also, since TT is playby NCTrader - Trading Discussion
I am not sure if I am the correct person or qualified to answer your question. It appears you were doing some type of calendar spread If I have the terminology correct. First, I no longer trade spreads but did spend 4 or 5 months in 2014 learning to sell premium and test the waters a bit. Most of my focus was on selling vertical spreads as a defined risk trade. Sell the near term option 25 toby NCTrader - Trading Discussion
Kudos! It takes a lot to throw a trade that is still in process out to the world. The following is just my opinion. From a recent history perspective the odds are in your favor over the next few days, then mixed until around mid-December when stock history turns significantly in your favor. For full disclosure I look for 5 to 10 day historical trends going back no more than 5 years (typicallyby NCTrader - Trading Discussion
Kars, I cannot go into a lot of detail due to NDA but using LEAPS for W/O instead of the underlying stock was mentioned in one of the more recent classes (Survival Series vs. the old 1-5). I do not recall if it was part of the planned discussion or if it just came up. For full disclosure I have not attempted using LEAPS for W/O but it makes sense. As with any new approach one should start sby NCTrader - Trading Discussion
I agree. I thought I had learned that lesson but it is something I do struggle with from time to time. The thought process of "giving permission", for anyone that is familiar with the phrase, has helped a lot. The other area I need to let go is setting targets. The predictive work has helped quite a bit with seeing it coming and, if triggered, high probability of going from point A tby NCTrader - Trading Discussion
Great minds think alike. I haven't had a chance to do a lot of trading the past 6 weeks but will provide a few of the ones I could get. One caveat to anyone that reads: do as instructed within your education level and experience / not as I do. You will see one tip of week entry I would have bet my life on but should not have been paying attention to the shorter charts. You will also see a coby NCTrader - Trading Discussion
I humbly respect your reply and look forward to any approach you decide to share in the future as I do not limit myself to one thought process. My last observation is this and I hope it is taken in the positive spirit it is intended. I am an analyst by trade and always strive to see both sides of any debate. You certainly do not owe me or anyone else the satisfaction of seeing your results.by NCTrader - Trading Discussion
I agree with the statement that “being right is not important”. In my own experience I have had stretches where I was right 78%-80% of the time and still lost money. I had another 6 month stint where I was only right 48% of the time but increased my account 20% during that same time period by letting winners run and taking losses quickly. I got better at identifying when things were not worby NCTrader - Trading Discussion
I think a better question is why someone would not use "E" in context of RTP and DE if they were going to use "E" at all? It's best to use all you know. The "E", as it was originally taught, was in context of the type of information taught in RTP. Darcy simply learned how to read the charts. She traded small charts but she always had the big charts either going hby NCTrader - Trading Discussion
funkho, "E" traders, et al. I am going to comment on CMG and large spreads in the interest of sharing/collaboration. There was a big discussion regarding large spreads back when Darcy was active. I mentioned it only because Darcy is the one that introduced the "E". The discussion was prompted by a trade she made on a stock with a relatively large spread (maybe a buck anby NCTrader - Trading Discussion
Last thought. I would also recommend the webinar to anyone that is trying to get better using GW's style but still struggling on how the charts work together. I remember having a conversation with my mentor and some other students when starting out about reading all the charts. What do you do when the 34/55 say "X" and you know with 100% certainty that "X" will happen overby NCTrader - Trading Discussion
Email address: wsbrandic@gmail.com. One final caveat regarding the charting webinar. Please remember that GW's style is not technical although I do think he has a good grasp on reading his charts. There is a technical component to consider and we use the charts as tool in context of everything else thaby NCTrader - Trading Discussion
The value of the webinar is based on current level of education and previous experience studying the charts. A lot of the content I already knew but it was a nice reinforcement. Keep in mind that I have attended both old and new RTP as well as studying the charts for several years. A few new items were peppered in here and there. IMHO the first value proposition was the SLI examples. Gave clby NCTrader - Trading Discussion