Mission impossible ?

Discussion in 'Trading' started by lojze, Mar 5, 2002.

  1. lojze


    Who can help with this hopelessly difficult question:

    Today, March 5th, BRCM went up a lot in the morning. Not so BRCD, despite they are quite in correlation.

    Would somebody try to help me - which intraday technical indicators would show me this movement really quick?

  2. loj-
    those stocks are in different groups...what makes you say they have a high correlation? If you happen to see them move up at the same time once in a while ...that doesn't cut it.

    BTW here's the top 5 correlated stox with BRCM:
    1)AMCC= .8
    all chip related
    good luck

    trying to catch a delay in what stock is not generally a profitable strategy IMO
    i think the "difficulty" in your question is trying to understand the question itself...what exactly do you want to know? what stox correlate with others? or something about technical indicators?
  3. lojze


    Hi Uptik,

    The real question is actually how to choose stocks for the best profitable trades.

    I like BRCD and BRCM due to big volatility and quite big volume.
    I am strongly following technical indicators, but maybe not the best one's.

    But I am still trying to master the profits.


  4. lojze


    Hi again Uptik,

    So can you help a little?

    Or anybody else?

  5. I'd love to help...it's a broad question though...what time frame are you looking for?
    what I would suggest is either paper trading for a while, or using small lots...everybody will have a different opinion so you need to find what works best for you.
    as for myself, I have found that if you're gonna trade flat , nasdaq stocks are very dangerous to fight...another words they are very trendy...look for simple support/resistence levels....
    for some examples of nasdaq trades I've made in the past, check out my thread called "one good thing about PDT rule"
    I put charts, and circled where i entered and exited...I got a lot of good response from people saying that I explained them well.
    get a good book on technical analysis...I have the big one by John Murphy...and it stays open on my desk all day...
  6. here's a good page with some decent patterns

    you can check a few out, print them, stick them on your monitor...one thing they don't show is volume...volume is important IMO
  7. lojze


    What I am loooking for?

    1. I am trading intraday.
    2. I have done paper trading before and I do small lots now, but making the most profitable trades is really a passion for me.
    3. "trading flat" - what do you mean with this?
    4. John Murphy's book - which one?

    So, candlesticks, support/ressistance, volume - any additional important indicator for intraday?

    Thank you Uptik.

  8. "trading flat" means you close all positions at the end of day, no overnights

    John Murphy's book, "Technical Analysis of Financial Markets"

    other indicators can be the general trend of the day, sometimes I may use stochastics for entry and exit points...
    did you check out my thread here I mentioned earlier? I think it has some good examples
    there are a ton of different indicators, my best advice is to learn about as many as you can and then find a strategy that works best for you and your style of trading
    most of all , be patient
  9. lojze...as someone pointed out earlier...your question is very "generalized".

    I use to trade BRCM successfully (I no longer trade it) and now will occasionally take a peak at it as I just did via your question.

    What realtime charting software are using?

    What interval are you using?

    Can you do a screen copy of your chart (what you actually see) and save it as a .jpg file to be posted here?

    You posted your question at about 1022 am (assuming it was est) and BRCM had completed a nice uptrend and in the midst of a nice downtrend.

    Thus, two very good tradable "strong" trends that precended a few "smaller" trends.

    Also, my time here in Quebec is 1215pm est...via my own trade setups...I would have bitten on 2 possible Long Positions...

    one at about 0936am est (Long) via 1min chart

    one at about 1100am est (Long) via 2min chart

    Note: I would have never caught that short when BRCM peaked around 1014am est...not a picture perfect setup for me...thus, I would have been resigned to watch that "strong" downtrend from the sidelines.

    What strategy or trade setups do you use?

    See...add some specifics to your question as if you had been taking notes of your BRCM trade position or potential trade...my suggestion is not to be abrasive...just helpful...

    post it and you'll get some really good suggestions from traders here.

    Nothing wrong with some "constructive critism".

    Nihaba Ashi
    #10     Mar 5, 2002