NOPE! if you are like me - objectivist- you are not likely to gain anything from the book. I thought as much.... I think as a twist to your technical approach, you can weigh the daily trend in light of the weekly, and intraday in light of the daily. However, you'll need to establish rules for the daily chart because whatever you do in options, the 1yr chart over-rules both the weekly and intraday, although time factor is a different ballgame.
With odds like that i would stick to trading cracker jack prizes. EDIT: listen iceguy, i'm a bit weary of talking to those who wear shades on cloudy days. Catch my drift? I obviously have plans for LYO to break to the downside and catch this break b/c of readings i have taken. Now, yes if it trades to $30 and collapsed it would be more profitable but i'd rather it trades lower from the low of my channel through my regression point to make it a quick trade. Capish compadre?
Multi: I checked out the Wilder's 14 day Smoothing Line and it is very close to the 22 day EMA I normally use on the dailies. It is even closer to the 30 day EMA. Is there any reason for which you prefer it? The Wilder's 14 day Smoothing Line is quite different from the 14 day EMA. Thanks
Good call pinabetal. I believe my quote is from Wednesday and you post Friday after market is closed. Keep up the good work.
u_guest, don't be so reactive. You made a wrong call, but we all do so. pinabetal quoted my post http://www.elitetrader.com/vb/showthread.php?s=&postid=879941#post879941 of Wed Oct 26. My call was correct, but as you noticed my order was too aggressive and didn't get filled. So I was wrong too.
I'm not being reactive. pinabetal is posting too late, anyone can do that. PS...sorry about your order, but you missed a good call over a dime. Always put the LIMIT order in at the ASK, or use a MARKET order, and then call it the day. PSS...AAPL should recover during November.
Whoever's interested can find a crush introduction in "volatility" at this link http://finance.groups.yahoo.com/group/OptionClub/message/5344. Michael is a very knowledgeable trader. If you're so inclined, browsing through his posts on the "OptionClub" group you can acquire a lot of information.