Nod A question for you and your thread. I usually never post during mkt hours, this is rare. HA It has been suggested to me by a pal (the only person that ever really sat for more than a day or two, because i always wanted it that way) to do some reviews of the action.........either live or after the mkt closes. I said i will ask Nod. Like today we did 8 trades on the renewed +6/-6 strat that milked 7 handles but with only 3 handles loss on 3 trades, 2 scratches and 3 profits. Then we switch to the 1st hour breakout (BO) and nailed down 7 handles after the ugly key bar at the top said, thats all for now..........right now 1072.00 is regarded as support. Notice the pretty key bar at 0945 est. That has not been violated ..........so we took no more -6 line short trades. Should i do this now and then in your thread or not bother? Thks back to watching for a HOOK up or a breakdown below 1072.00 Lunch bunch time so boring now. Thks PS: i would just give some of the action..........not interested in answering a lot of newbe questions from others..........that is what GOOGLE is for. :eek:
hog, when you say "key" bar in you posts, are you referring to a shooting star at the end of a bull run and a hanging man at the end of a bear run?
I can relate, because when I was in Belize and tried to trade one day, I was using Etrade's web access platform instead of the direct access platform. I thought I was missing every order because of intermittent internet issues, but later found out there's a delay on the web platform. Frustrating that was!
+ $935 AAPL was nothing but wicks on the 1- and 3-min chart off the open. AMZN and POT were quite range-bound. I chose not to trade the open. It started out as âtake what you canâ sort of range day, and I decided to trade POT to the long side since it actually appeared to have some legs after a double bottom was put in and price broke out to create a rising moving average.. I traded small because I was going long and you know what a short bias I have (I expect price to crash at any time out of nowhere). I was buying the dips whenever the 10-bar MA held up as support and just scalping quick moves using strictly limit orders. That worked great for a net of $193 on small size and I can see why trend followers love their work! I took a break, then later saw AAPL was sniffing at its high for the 3rd time and thatâs usually a breakout or a failed breakout coming. There was a shallow pullback and I placed a buy stop 1 tick above the high (thank you, Al Brooks), filled @ 195.54 (slippage). Moved my stop a bit and thankfully it wasnât hit because after a shallow pause there was another breakout and I closed out @ 196.97 for +$568 when sellers finally came in. Well, there turned out to be a LOT more upside to that trade, but I took a break from AAPL at that point to watch for a confirmed counter-trend entry on POT which broke out hard again after several legs up and I figured someone would be taking profits soon. I shorted POT off the lower high and what an easy trade that was! In @ 109.79 and out @ 109.35, pivot off oversold for +$174 in about 12 minutes. Nothing like confirmation in sync with the market, too, which had double-topped. POT then left another lower high behind, but the SPY was very oversold so I didnât trade, and in fact Iâm calling it a day before I do something dumb.
Good job again NoDoji. I made a silly or stupid mistake yesterday, and went long and did not realize I was still in demo so while it was a winning trade, I did not make real money. I then had a chance to go long after hours, but decided not too since normally it would be trading on non TA based gut. Today, I was able to make a real trade long that made money after making a sim trade that made money 1st. How many shares did you go long on Apple with? Is that your normal size now? Seems like you are starting to trade enough that you could get volume rebates, have you thought about going remote prop to get better commissions and rebates? How is the automated trading going, is on trading real money yet?
Nodoji, Congrats on another excellent day! The statements above demonstrate your remarkable reading of what is coming, which is hard to quantify but a priceless edge over other traders who also have good setups and good risk management but poor reading of actions -- I for one traded AAPL at open and got stopped out but later saw the breakout and did not jump in! Your quick learning/ability in trading has left many of us to envy. Just look at the P&L tread -- you are beating many of the guys with consistency. I as a fellow female trader am quite inspired by your tremendous progress! Good trading tomorrow! OC