Have a good time. I am thinking about going to vegas for a trading show coming up. no plans for now to go to china
CNX covered at 56.70 +.47 should have rode the profits longer but as I watched it bounce in this range a couple of times I could cover here and then short again upon a move up +45 for the trade
closed out of CNX again I have raised my bar to entry but have become more aggressive with shares. covered at the following prices 57.24 +.3 57.27 +.27 57.14 +.40 57.15 +.39 57.08 +.46 57.05 + .49 57.01 +.53 not a bad trade at all. only missed one short at 57.88 (raised it a little otherwise it would have hit at about 57.75 to give me 8 units short and at a higher average) its only 11am and I am up 317.00
signal >6B [/B][/QUOTE] Did you eyplain your kind of signals somwehere and I overread it? Thanks Charly
IBN 2 more units short 65.05 65.15 5 short @ ave 64.87 next shorts were at 65.29 65.37 moved very fast, as of this post i also bought three back 64.57 +.80 64.47 + .90 64.35 + 1.02 will cover if climbs again otherwise at 10.75% higher for the day will try to give this some time to drop a little further.
Did you eyplain your kind of signals somwehere and I overread it? Thanks Charly [/B][/QUOTE] Hello Charly, Thanks for the question and I should have put my ideas out there sooner I haven't actually explained the signals in detail but I am willing to give a general idea. After reading many books and especially Tom DeMarks books I became convinced of a few things about trading. 1. Most people try to find a trend and trade it. Along with that most people lose money in the markets 2. Most market makers / specialists fade the public / professionals. Along with that most MMs / specialists make huge amounts of money 3. when you enter a trade by following a trend you normally give up the spread as well as take away liquidity. This causes you to be at a loss from the start and causes you to pay a higher commission (ECN pass throughs ) 4. By fading you can actually collect the spread (usually very small but over the course of a year or more will add up) and you can lower your cost of trades if you use IB or someone that gives you ECN passthoughs( I have used before and will be changing over in about a week from TS to IB for my primary broker) so what i try to do is find overbought or oversold situations and then 'fade' the stock. I use software that scans the market with alogoritoms that I have worked on for the last year or so. When they started working consistently I thought I would make a journal to improve my results by looking for patterns. I prefer shorting more than going long so my first push was for overbought signals and now i started working on oversold. I will need to test them for a while before you see very many trades that are long.