two questions, which do you like better Strategy Desk or finviz? and what is your normal position size on some of these trades?
sorry should restate that....which do you like better for pattern matching (wedges, triangles etc etc)...also you made a comment about wedges a while back saying they are the best type of chart pattern, why do you think so? jw
you're not asking me, but I think wedge makes sense, at least logically, because the price is moving up and down less and less, so the market is trying to figure out what to do with it, in a sense, and so a breakout of the wedge in either direction is likely to be significant
For pattern matching, I prefer manual, unless you have a large list to deal with.. So Any good manual charting program will do, with Log scaling.
Just experience... Most Charts build this pattern... Best when the pattern is built towards resistance or support... See any commodity/energy chart last 2 weeks... Maybe after looking at Finviz more I will get some ides from there.. bu I see it as a source to populate a watchlist with. Also the Finviz wedges tend to be quite long.. whereas I am looking to a 2 week or so wedge..
The churn continues... Have been here since early April now... ALL errors continue to result from impatience. I will get to that place. No doubt. Ended week... Long DRYS from Wednesday Long MOS 89's Today Long JRCC 25.3 (re-bought yesterday.. thankfully) Down to 8 core stocks now.. the goal to reduce noise further. Consolidated the Energy, Steels, and Agrics as they heavily correlate.. MEE, JRCC, MOS, SOL, FSLR, SKF, UYG, DRYS.. They are all the volatility I need..
Patience in everything, contact is nothing ... I do the same impatiance errors Why will save us from ourselves?
This is a seriously dangerous market to be long anything... especially as every other day they prop it up over and over again.. another bath tomorrow morning... LEH and MER same weekend... no words..