In short "It is a math thing". Fibonacci numbers are used by many big market movers. Since they use these numbers and are market movers, we have one more tool to assist us in trading. India introduced the number 0 and negative numbers back around 1200 BC. As a result, sine and cosine was born. Simply put without getting deep in trig it is a crossing of positive and negative numbers. Gby Darcy3 - Trading Discussion
At 10:05, not at the open but at the close after the candle formed, the wick hit the 50 moving average and could not break through. On the 8 chart starting at 9:38 the candles began to break UP from the 50 moving average but the heavy 200 moving average was beginning to slant slightly down. At 10:02 on the 8 chart the candles could not break through the 200 moving average and the momentum of theby Darcy3 - Trading Discussion
The market is very volatile. The swings are big right now I think because of uncertainty. Inflation is rearing its ugly head. Also, this week is quad witching which causes a reaction in options. Although the trading volume increases in Quad witching, it doesn't necessarily render heavy volatility. Usually following the week of quad witching, the S&P declines. IF I were to trade and hold overby Darcy3 - Trading Discussion
Today's trade ZM. It opened up but it was screaming that the fast money was DOWN! At 10:05 I placed a 187.5 Put for $4.80 (8 contracts) put in my GTC .50 up and it sold at 10:19 for $5.30. If I hung on, which I generally don't do, I could have sold for $6.40 @ 11:25. What did I look at? 5,8,21,34, and 55 charts and the location of the moving averages with a strong moving average (the 50) as resisby Darcy3 - Trading Discussion
Well in the words of one of my favorite people (Sponge Bob) "This isn't your everyday crazy, this is advanced crazy!"by Darcy3 - Trading Discussion
I never minded the stories he told because during those times I would go over my notes rather than listening. In 1-5 I heard loud and clear that GW started with a 401 K (if I recall it was $50,000?) which makes a big, huge, massive difference than starting with $2,00 or $5,000 cash that you have managed to wrangle together by forgoing other things. S/O and I were self-employed no 401K to use. S/Oby Darcy3 - Trading Discussion
So glad to hear of your success. I have found what works for me using the basics of 1-5. I work best that way because I AM AN IMPATIENT PERSON! I wish you much success.by Darcy3 - Trading Discussion
Yes I bought PUTS on RBLX @ 10:44AM sold @10:48AM bought @ $9.40 and sold @ $9.90 with a GTC. Done for the day.by Darcy3 - Trading Discussion
I do not use the daily for a trade. I will look at the daily but to see where the stock is (too high or too low) In other words if stock is out of BB or has been riding it for several days on the daily I expect a possible pull back. I mark gaps on my 5 and 8 chart because these are the charts I use for a trade. Last night I looked at NVDA after the close and around 9 PM. I saw it went to $325. anby Darcy3 - Trading Discussion
Riding the BB (Bollinger band) is one sure sign of a continued up or down. When moving averages begin to spread too far apart look for a trade in the opposite direction. I just get in for .50 and could care less if it goes up more. Sometimes I look to see what I could have made most of the time I don't. On my Qcharts I also have a net and net since open. Looking at these two gives me a heads up fby Darcy3 - Trading Discussion
Bought today 2 NVDA DEC 325 calls @ 11:37 AM for $15.35 sold @ 11:41 AM for $16.05 done for the day, What did I see? Room to move up on 21 and 55 chart No resistance on 5, 8, and 13 chart. I do not stay for more than .50 so put in a GTC which was $15.85. I only stay if I am watching every tick which is seldom. Once out of a trade I am done for the day and on to other things.by Darcy3 - Trading Discussion
What I mean about seeing gaps on the 5/8 charts more than others look at NVDA 11/22 on an 8 chart. You do not see that gap on the daily. Instead on the daily you see a gap on NVDA on the 18th which does appear on the 8. The gap is smaller the second time which makes me look for NVDA to go down. As you know this does not always happen but it makes me look sometimes for a next day trade. You'll seeby Darcy3 - Trading Discussion
Today NVDA BOUGHT 3 /300 puts NOV 10:30 placed GTC for .50 UP out 11:42 for 11.10 done for the day. Most of the time all I ever do a GTC for is .50. For some of you this may seem like chump change but it averages out to about $32,000.00 a year. I'm Seattle happy. S/O looked for retirement I look for my bread to be buttered on both sides, mainly because I love what I do. BTW could have gotten in wby Darcy3 - Trading Discussion
Today RBLX 105 Put, 4 contracts 8.25, sold out 9.20by Darcy3 - Trading Discussion
RichieRick I'd say many are like me. Some of us simply got overwhelmed with questions and if any were like me the feeling of obligation to reply was intense. Then the script hit and actually I felt like people were looking for fast answers and not the work involved. I can tell everyone here IT TAKES PUTTING IN THE WORK...and what works for me may not work for you. YOU are responsible for findingby Darcy3 - Trading Discussion
Aw Thank you flsupraguy. I visit often but don't post as much. I still trade and most of the time I have 2-3 trades a week. You can do this if you do not trade on margin. I highly recommend not trading on margin. Since July I have traded about 50 times. Lost 2 (-$93) My average profit is about $295 per trade so in 4 months about $14,000. I do not use GW's Christmas Cross TO TRADE but I do use theby Darcy3 - Trading Discussion
Hello mikeandy, I use a tick chart every now and then but to see how many contracts are being purchased both up and down. I use moving averages, gaps and the Bollinger bands and money flow. I don't do HRFP anymore. I use the KISS method...Keep It Simple Stupid...meaning I keep it simple. I found that for me and how I trade less is best.by Darcy3 - Trading Discussion
Yes it is quite a list. I have not read many of the mental ones. Went through that stuff long ago on a job I had. I have read most all of the technical ones. My favorites are The Market Makers Edge by Josh Lukeman, Technical Analysis of Gaps by Julie Dahlquist and Richard Bauer, Technical Analysis for Dummies and Trading options for Dummies.by Darcy3 - Trading Discussion
after reading some of these posts...How many of you ever read any of the books GW recommended on trading? Just curious.by Darcy3 - Trading Discussion
There are 4 bases in baseball. Running after hitting the ball and touching all 4 bases compromises a home run/fat pitch. Hitting the ball and touching only 3 bases compromises a simple fat pitch. Remember in baseball you can be tagged out on 3 bases if you lead off and don't get back to base in time but in a homerun/fat pitch you can only be tagged out if you don't beat the ball back to home baseby Darcy3 - Trading Discussion
It worked perfectly for how I trade. I don't hang around. I am in and out and yes I leave $'s on the table but I accumulate $'s rather than tie my money up. I sort of look at it like this for me....in a grocery store I like going through the self check-out because it is faster. It doesn't bother me to bag my own because I get to decide what goes in each bag quicker. I don't want to hang around iby Darcy3 - Trading Discussion
I stayed with Qcharts and do not use all the bells and whistles GW had us start with in his first class. It cut my cost almost by $100. I use on Qcharts "HOT LIST" and in that I apply 4 quote sheets which gives me the DOW up and down and NASDAQ up and down every day. Also in my Qcharts I have a BID and ASK watch which gives me tick by tick and the size of the trade. I use colors to heby Darcy3 - Trading Discussion
I know Gary has held many other classes and has changed other things concerning his techniques. I haven't used his Christmas cross for a long time but instead use multiple charts and moving averages (10, 20, 50, and 200 moving averages). Since the passing of S/O I laid off on trading but have picked back up this June. My longest was held over night which I hardly ever do. It was FB on 7/9. My shoby Darcy3 - Trading Discussion
After a nasty fall in the market I hope ya'll looked at the charts and got into some form of tech moving up off the bottom. Sorry my charts aren't up right now so can't give more detail but this morning I bought 2 call contacts (expiration this month) of the Q's @ 9:43 for $6.96. I watched for a while then set a GTC for 9.06 because I had so much to do. Sold out $9.11 and this off the 5,8,and 21by Darcy3 - Trading Discussion
Hope someone watched ZM! Nice pot of gold there! August 24 I played a PUT got out when it bounced up off the 50 moving average watched because it was going into earnings. Bought yesterday and out on the open today. I seldom hold over night but I had no doubt that this stock was going up. Notice yesterday how the Bollinger bands on the 5 chart opened wide for a good strong move because candles hugby Darcy3 - Trading Discussion
After the close on expiration Friday Aug 21,2020 I began my studies of the stocks I like to watch. The one that peaked my interest was ZM. Using my 8 chart and the regression line (Qcharts) I drew my lines off the bottom of 8/20 candle (@15:14) to the close of 8/21 and the bottom of 8/21 at 11:54 to the close of 8/21. Also the fact that ZM is going into earnings I was almost 100% sure I would havby Darcy3 - Trading Discussion
Yep grandson #2 has co-piloted and had a little help on landing. He loves it.by Darcy3 - Trading Discussion
I am referring to the volume on the stock. Any stock for me that lies in the "k's is a dead trade from the start.by Darcy3 - Trading Discussion
Hello, Volume moves the option. It is actually the second thing you should observe if you are doing tech analysis. It shows an interest in the stock. The volume accounts for ups and downs in any stock. Therefore if your volume number is in the "K's" you have a very low level of interest in that stock and the option will barely move. This is why I have a quote sheet for nothing but volumby Darcy3 - Trading Discussion
I have returned currently to virtual trades to get my mind straight. S/O and I were married for many, many years and I know he would want me to push on. As you know most all our trade were fast and never held over night. We just wanted a bite out of what we saw and built from there. That is how I trade. I nibble. I have made since April in practice trades about $6,000 never using more than $1,500by Darcy3 - Trading Discussion