Thank you for your input. I am not currently trading QQQQ. I trade forex. I have never really traded stocks or etfs, but I'm curious about them. I haven't used candlesticks and volume bars, but I really like the concept behinf them. I'd gladly watch the video too. Thanks.
Lower Lows are new lows for the day, or just from the previous candle? Higher Highs too? Higher Lows means the bottom of the candle, and Lower Highs are the tops? I'm pretty sure I know what's what, just not if the new highs and lows are for the day or just from the previous candles. I had a mentor when I started out before, but with stocks I am unfortunately on my own. Your above suggestions aren't the least bit discouraging, in fact it makes me want to strive for success just that much more. Thank you for all of your insight.
Ela - I'm primarily an options guy (calenders, credit spreads) and don't have the opportunity to do hands-on trading like you do. I was curious about the software program (Q Signals) above that has the buy/sell arrows. Were those your signals/arrows or were those generated by the software? I see you use TS, didn't know if it was part of them or a separate program. Thx.
All those signals generated by my system which was calculated in external system tester. And all signals are Out Of Samples. I have calculated in tester system for data till 18 may 06 and apply to Out Of Sample data. PS. StockMedium is my own external system tester based on genetic. This external tester show trading system source code and allow traders use system in TS or MetaStock without hand work. But trader can use source code and add any conditions for entry or exit. PPS. I have similar package for TS/MetaStock... But I prefer using popular trading packages - it's more better than build myself (see my post - http://www.elitetrader.com/vb/showthread.php?threadid=68029)
I specialize in trading stocks and ETFs. Not any one single or specific groups in particular, but I do tend to be in some far more often than others. I LOVE ETFs during market consensus down days. I'll trade stocks:ETFs somewhere around 6:1 on long days in mid or long term bull markets or 1:3 in any significant bearish market. Most of the chart entries and rules I pointed out will work in any environment without uptick rules. So yes, most any ETF. Unfortunately these shorting techniques will not apply to stocks for retail traders because of shorting regulations. I could show you some chart entry techniques for shorting stocks, but I'm afraid I would be doing you an injustice. I (with a few exceptions) usually only trade stocks from the long side. I'm not really into trying to pick out the very tips of tops and bottoms. Perhaps someone else could post some entry techniques for shorting stocks? 50 day or any other Moving Averages aren't bad for all intra-day traders. Some people swear by them, I just never found them very useful, and in fact I consider them to be a hindrance to my trading styles. To each his own, and remember, "There's no wrong way to eat a Reese's"... (Ha! inside joke that I got wrong last time...) Yes, I watch volume and make decisions on both price and volume. Price, in my opinion, is the more important indicator of the two. I wait for price direction to make a significant change before exiting, and I base new/re-entry decisions based on what Volume and Price were doing in relation to each other. I also watch T&S too, keep that in mind as it is still the purest indicator of the strength of direction. Keep in mind, though, that I screen everything I trade with specific parameters. I don't trade anything just on a whim. Knowing why it is you're trading whatever it is you're trading is very important, and it helps to know (or at least attempt to know) why it is moving the way it is as well (ie News, and Market Direction, etc) Lower lows and higher highs usually imply that they are new highs for the day, but I kinda mix it up and throw out the opening gaps, and sometimes the really quick, fast moving trends too. Some traders consider higher highs or lower lows to be within the last hour, some less of a time frame than that, some think of them as being for the whole day, and yes some think of them as being since the last handful of bars. Whatever you feel comfortable calling them is the important thing. Just remember new trends usually look similar on candlesticks, regardless of where the price was earlier ... Reese's... Good luck, and remember, hard work and determination never hurt anyone too badly.
http://www.elitetrader.com/vb/attachment.php?s=&postid=1051488 I wonder why you've chosen this thread to setup your canned goods market? Could it be (gasp!) because there are new or novice traders aking questions about charting patterns!?! No, surely not.
Sour Grapes with their whisky anyone? http://www.elitetrader.com/vb/showthread.php?s=&postid=1088043#post1088043 http://www.elitetrader.com/vb/showthread.php?s=&postid=1086814#post1086814 http://www.elitetrader.com/vb/showthread.php?s=&postid=1051471#post1051471 http://www.elitetrader.com/vb/showthread.php?s=&postid=863073#post863073 http://www.elitetrader.com/vb/showthread.php?s=&postid=863067#post863067 http://www.elitetrader.com/vb/showthread.php?s=&postid=655845#post655845 http://www.elitetrader.com/vb/showthread.php?s=&postid=649247#post649247 http://www.elitetrader.com/vb/showthread.php?s=&postid=594415#post594415 If this isn't Spam, then I must be paranoid. I am such a selfish ass aren't I??? Hmmm...
Sour Grapes with their whisky anyone? http://www.elitetrader.com/vb/showthread.php?s=&postid=1088043#post1088043 http://www.elitetrader.com/vb/showthread.php?s=&postid=1086814#post1086814 http://www.elitetrader.com/vb/showthread.php?s=&postid=1051471#post1051471 http://www.elitetrader.com/vb/showthread.php?s=&postid=863073#post863073 http://www.elitetrader.com/vb/showthread.php?s=&postid=863067#post863067 http://www.elitetrader.com/vb/showthread.php?s=&postid=655845#post655845 http://www.elitetrader.com/vb/showthread.php?s=&postid=649247#post649247 http://www.elitetrader.com/vb/showthread.php?s=&postid=594415#post594415 If this isn't Spam, then I must be paranoid. I am such a selfish ass aren't I??? Hmmm... [/QUOTE] Where is problem??? There are 2004 year posts in careers and last post in Classifieds ... STOP YOUR ACTIVITY PLZ. PS. Have questions? Email me directly...
Thank you very much for all your advice it is welcome anytime, and not just because it also happens to be free, but because it is sincere. elabunsky, I think you have just been jettisoned from Discovery One. How difficult is it to get in short on an uptick while a stock is trading down? Almost impossible? Aren't there upticks during a candle? That's what the wicks are right? I'm sure I'll have more questions later. I'll post here. Thank you again.