I use PPI, CPI, and FED not when it reports but before. Remember though I am in today and out today and ever so rarely over night. Speculations seem to drive this market IMHO but also my moving averages on my charts. That's where listening to the news helps me. I look for turn arounds. For instance I traded META today...used my marks for gaps, 8 chart to enter and waited to see if the gap from 10by Darcy3 - Trading Discussion
Been marking gaps on my 8 minute chart and using StochRSI using GW's 1-5 settings. Virtual trading is something I do when I want to test what I am thinking. I also virtual trade at least twice a week. On 9/9 using my 8 minute chart I tested the 3 gap method. I bought 4 META 170 PUTS for 4.40 to HOLD until expiration Friday unless the move went my way. I was losing but I held my virtual tradeby Darcy3 - Trading Discussion
Looking at a daily chart of the $INDU note that the candles closed below the 50 moving average starting 8/29 you will see this information is helpful. Look at META starting 8/22. It is used to start a trend. It is ONE TOOL to assist in understanding direction. "The 50-day average is considered the first line of support in an uptrend or the first line of resistance in a downtrend. If a sby Darcy3 - Trading Discussion
Pring takes a multiple of words to explain something very simple which is moving averages. Technical Analysis for Dummies takes fewer words to explain the crossing of moving averages. IF you need detailed information as to why moving averages move then Pring isn't terrible, but he is boring. Trading the market should be anything but boring regardless of what GW said in 1-5. BUT if you want to knoby Darcy3 - Trading Discussion
Technical Analysis for Dummies is not on GW's list but I have found it to be so helpful in catching an understanding moving averages and what to look for. Some of his reading material makes things just a bit complicated and boring. I only read parts of some of those books which matched how I traded and explained what I was looking for. I like gaps and moving averages.lby Darcy3 - Trading Discussion
You are welcome. The hard part about trading perhaps more so because of how I trade is looking at several different things and using these to enter a trade. I do this because I do not hold on to any trade. Some of how I trade is a simple I can see the move...just see it. It reminds me of the movie Seabiscuit where if that horse was able to see what was coming up on him...you couldn't stop him. Itby Darcy3 - Trading Discussion
Do you have a money flow? Also BB's? BB's are like moving average envelopes. When the BB on the 8 began a squeeze (day before) I start watching because that stock will pop up or down. I look for these squeezes after the close but not until 6PM. When that squeeze breaks, I start looking for a call if they pop down and if they pop up a put on my 8. I know that sounds crazy but remember I do not hoby Darcy3 - Trading Discussion
Today as the market climbed higher I did a PUT on ROKU using my moving averages. I entered on the 8 chart and just sold out. Bought 5, 89 Puts for 4.55 and sold just a few minutes ago for 8.60. I entered the trade @ 10:47.by Darcy3 - Trading Discussion
Today on the daily DOW I see a resistance and if it breaks that next stop 33,700. Stoch RSI is showing oversold but remember that is only one indicator.by Darcy3 - Trading Discussion
You are welcome. What I see now...(12:04 8/10/22) Looking at the 3, and 5 chart you can see the Bollinger band is squeezing on the DOW. BB's are 2 price channels (where a stock can go = price channel) and the center of the BB is a simple moving average. Generally, the center of the BB is close to a 20-moving average. On my charts I have the center band in purple and the 20 moving (exponential) avby Darcy3 - Trading Discussion
Moving averages can tell you more about where a stock will go IMHO than most any other indicator and much easier. Look at moving averages like a person and how much each one weighs. Do you think a 50-pound man can lift a 200-pound man easily? Can a 50-pound man lift a 20-pound man easily? Look at this like a 20, 50 and 200 moving average. I have these moving averages with designated colors. 20 iby Darcy3 - Trading Discussion
I don't know about ya'll but my moving averages are going nuts. They are squeezing and that tells me WAIT! I need room for stock to move and there is very little. I think buybacks are messing around. So, I am following GW's 1-5 advice for August.by Darcy3 - Trading Discussion
Good to hear from you rookie30 and am very glad you are doing well. I am in today and out today for the most part, but I have entered trades at 3PM if it looks like according to moving averages that down will be the direction. For instance, on 7/21 I bought an AMD put before the close fully expecting it to go down the following morning. Bought 5 @ 6.85 and sold out at the open with a GTC of 7.70.by Darcy3 - Trading Discussion
Add these studies I have mentioned to what GW taught in 1-5. Practice, practice, practice!by Darcy3 - Trading Discussion
flsupraguy hope you did your PUT. Did one after it fell below the 200 moving average on the 8 chart. (6/16) Waiting to see what it does off the 20 on the 8 chart. I trade short charts...8, 21, 55 seldom look at anything more than that. I just like to make my money and run. Patience is not one of my better traits. S/O use to laugh at me because I always saved change. But that was how I financed myby Darcy3 - Trading Discussion
Look at ZM at 242! LOL...but I had to do a GTC because I wasn't going to be able to watch charts. Could sell now for 5.60...but I am happy in Seattle1by Darcy3 - Trading Discussion
flsupraguy I bought at 10:56 5 109 calls for 3.30 and sold out from a GTC @ 11:32 for 4.10. On the 8 chart the 20 moving average became support. I really only asked for a .50 move but got .80.by Darcy3 - Trading Discussion
Today @ 10:02 looking at the ZOOM chart my moving averages on my 13, 21 and 55 charts are saying stock could go to 110 before it would pull back but my 8 chart has no confirmation of the trade unless the BB's start to open up. This is what I look at the moving averages and where they hit and the direction of the stock. Wouldn't I trade ZM right now...not until I get confirmation on my 8 chart. Yeby Darcy3 - Trading Discussion
1) 2) 3) S/O used the 5 crossing the 10. This worked for him not me. I basically use the same style except I use larger moving averages. Yes he called it the E trade. He'd tell me how he traded and what to share. He used this trade after reading Technical Analysis for Dummies. I look at how the moving averages are pushing. (UP or DOWN) how far apart they are, and if they match up on theby Darcy3 - Trading Discussion
Richie Rich I have the effect on people!by Darcy3 - Trading Discussion
Investopedia.com I can't recommend this site more highly. Moving averages tell you a lot about how a stock is moving. I use small charts because I trade in and out quickly. Most charts I use are 8, 21 and 55. When I decided I would trade AMZN I watched my bid ask on Qcharts I saw many buying calls and when the split was over puts began to take hold. I watch the spread between moving averages on cby Darcy3 - Trading Discussion
When I say not a chart thing I mean not like GW explains in 1-5. Stocks almost always go down after a split. I intended to be in this until Wednesday but decided I would pull out this morning. I explain why at the end of this message. I watched the 8 chart. Look at 8 chart starting on 5/25/22 and you'll see the 200 moving average going below the 50, and my bid ask watch was showing me there wasby Darcy3 - Trading Discussion
Stock splits is the only time I hang in for a week or two. Glad I did, I bought 6 123.5 Puts on AMZN June 8 for 3.60. I sold it today for 19.15. This was one of GW's 1-5 trades not a chart thing.by Darcy3 - Trading Discussion
Warren Buffett didn't get rich by not buying when everything looked horrible. Have we hit bottom? I don't think so at least my charts are saying we haven't. But when I look back at when I first started I could just cry. My trades were on Apple and Amazon when they were at $89 a share. I wish I had bought 5 shares! That hindsight HURTS like heck!by Darcy3 - Trading Discussion
I got a new laptop and have been playing around with it rather than trading much. This market is making me sea sick.by Darcy3 - Trading Discussion
Looking at my weekly chart of the DOW may see an upward trend because we are oversold Stoch RSI. Take your extend line for charts and draw a line starting 12/16/18 on your Stoch RSI and you'll see we are in a turnaround area. Monthly chart also entering turnaround area but still a downward trend. Monthly chart looks like we'll hit support around 28,800. (50 moving average)by Darcy3 - Trading Discussion
I traded the DOW (ticker). I bought a 69 May Put for 202. I used my Bid Ask feature on Qharts. This particular study shows me how many PUTS and how many CALLS are being processed. I also have on this Bid/Ask feature 4 charts with just the Bollinger bands, 20, 5 and 10 moving averages. Those charts are a 5,8,13 and 21. This particular workspace allows me to see Ask and above Ask, Bid and below Bidby Darcy3 - Trading Discussion
Yep, market opened up. Get in, make a little and get out. Roller coaster in this market.by Darcy3 - Trading Discussion
Looking at the DOW weekly and monthly we are still in a down trend. Currently what I see is support on both these charts so tomorrow may be an up day. The daily shows oversold. Nasdaq shows oversold too on weekly and monthly. Market may need to digest. Put on your spurs!by Darcy3 - Trading Discussion