Ares

Discussion in 'Journals' started by Ares1, Jun 10, 2007.

  1. Magna

    Magna Administrator

    There may not be in the general trading population but there is at ET where we have a specific policy against threads that post about or list penny stocks. Here's the rules -- any stock can be discussed that meets at least one of the following two criteria:

    1. It trades above $5.... or
    2. It has at least 1,000,000 shares of average daily volume.

    If a stock does not trade above $5 and does not have an average daily volume of at least 1,000,000 shares then for our purposes it's a penny stock and we don't want it discussed at ET. There are plenty of websites that cater to thinly traded and/or cheap stocks and we request that those who want to talk about penny stocks post to one of those sites instead of here. Thanks.

    Magna
     
    #31     Jul 18, 2007
  2. Ares1

    Ares1

    OK. Thanks for the clarification.
     
    #32     Jul 18, 2007
  3. Ares1

    Ares1

    http://elitetrader.com/vb/showthread.php?s=&threadid=20286&perpage=6&highlight=tmtt&pagenumber=4

    I took their course and agree with the moderator.

    Those things could be learned through the local library - even better - here in Elite Trader (and its links) for a lesser amount - or even FREE.

    In fairness to TMTT, I did learn a lot from them.
    The software Trade Center and Trade Seeker did make the searching easier when I first started.

    The 3 day course and the manuals taught the foundation.
    However, buying from the bid and selling at the offer I learned that from somewhere else (Cybertrading University, reading books, searching the internet, etc.).

    Inspite of all these training and experiences - the hardest thing I'm still battling with is the EMOTION factor.

    Spending a lot of screen time would probably contribute to the learning curve.
     
    #33     Jul 20, 2007
  4. Ares1

    Ares1

    My observations on BRLC:

    BRLC was on my watchlist on July 18, 2007.

    I decided to observe it because it was above the weekly 8ma and was active in the pre-market.

    It opened at 6.85 and started dropping to 6.67.

    I noticed that time and sales slowed down and remember asking another trader that I was chatting with if BRLC had already bottomed out.

    Shortly after, the stock climbed.

    The following day, I decided to follow up on it.

    I received an e-mail on momotrade's trade and gave him a compliment.


    http://elitetrader.com/vb/showthread.php?s=&postid=1536954&highlight=brlc#post1536954

    What I realized a little later:
    This is a clip that I posted on another site (this was posted at 11:30ET):

    Re: BRLC


    While chatting, this is the info I got.

    Pivot = 6.87
    10 day Elliot wave count 4?
    Price+ Volume-
    ( is it ready for a pullback or would volume pick up and push the
    stock higher?)
    MACD crossed the zero line.
    Yesterday being a doji,etc.

    The person I was chatting with commented that BRLC may be on a 10 day Elliot wave 4 - I looked at it as wave 3 (counting back 10 days).

    I plan to re-read the Elliot Wave theory to clarify things out.

    I also noticed (later) while chatting, that the daily price and volume had a divergence -a signal for change.

    Another ET thread that talks about it:

    http://elitetrader.com/vb/showthread.php?s=&threadid=98265&perpage=6&highlight=brlc&pagenumber=2
     
    #34     Jul 20, 2007
  5. AAA30

    AAA30

    First Question:
    Higher priced stocks generally have a greater daily $ range. You can carry less shares for the same risk as a sub $10 stock(again a generalization )

    Second Question:
    The price will move in the biased direction. More buyers up, more sellers down.

    Third question:
    Yes is would if that was the intention. Be careful in believing unexplainable moves are manipulation it is usually just something we don't see or understand. If you don't understand it, it is better not to have a position.

    AAA30
     
    #35     Jul 20, 2007
  6. Ares1

    Ares1

    Here's a chart of BRLC:

    (I'm still learning how to use stockchart's annotation tool - I've just recently discovered this annotation tool even though I've used stockcharts for a while now - it was just right there waiting for me to use it)

    I wish I knew how to extend those trendlines if it were possible. It would also be nice to see the confluence of the downward and upward fibonacci retracements better.

    It would be nice to have fibonacci extention tools too for targets. (Currently, I'm just using a simple fibonacci table - a table that I manually entered formulas on.)

    I will try to identify the FTT and try to read the gaussians too.

    I will aslo try to watch out for MACD and Stochastic signals.

    Checklist I have to keep in mind:

    Trend
    Indicator
    Patterns
    People (Volume)
    Price Action

    Trading Day reminders:

    Open price signal
    Multiple timeframes
    Trend
    Tradability
    Traps
    Refreshers
    Tape momentum (clock watching/tape reading)

    Try to keep emotion in check (even on paper):)

    Most likely, I may have missed out other traders' strategies.

    Just trying to incorporate as many strategies that I've learned so far.

    Looking forward to your comments.
     
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    #36     Jul 20, 2007
  7. Ares1

    Ares1

    Thanks for your reply AAA30.

    Looking for more replies like this to further my education on my "journey".

    Ares

     
    #37     Jul 20, 2007
  8. Ares1

    Ares1

    #38     Jul 20, 2007
  9. Ares1

    Ares1

    #39     Jul 21, 2007
  10. Ares1

    Ares1