You shared an excellent and very thorough review of your trade. Unfortunately, the trade in question appeared to have provided you a signal for an FBO (or FTT). Instead, price rocketed higher. My only advice with respect to these scenarios (entering on pro-rata) would result in holding beyond the DU time threshold and wait to use FRV Threshold in order to make a determination of hold or sell. In today's example, price had slightly improved providing you a small unrealized profit. If we take Jack's advice with respect to making 'wash trades' our goal, one could 'afford' to wait until ,either price retraces to 'break even,' or volume hits the FRV threshold. We need to keep in mind that our goal is to enter into a trade as volume breaks out. We call this break out FRV. We use DU Volume as a pro-rata approach to enter earlier, and we use pro-rata DU volume to enter earlier still. While using the various versions of Pro-Rata volume do provide an increased number of signals (and opportunities to enter into profitable trades sooner), we need to keep in mind that FRV remains the true determining factor between hold or sell. We hope to profit in these scenarios. While nice to profit even when we have an FBO, we should look at such circumstances as a 'bonus' only and not as a means by which we improve profitability. As long as you make wash trades your goal for an FBO, you'll provide yourself enough 'wiggle room' to capture these large moves that often occur just outside our 'normal' paradigm. Hope you found this helpful. - Spydertrader
Hi ScottD and hello to everyone else, This is my first post, I've been lurking since early December. I have all of about 10 days of experience trading Hershey Equities under my belt and here are my results: NGAS entered @ 11.41 currently holding +5.3% DXPE entered @ 22.90 currently holding +2.8% LIFC entered @ 21.41 exited @22.88 +6.8% FORD entered @ 11.18 exited @ 11.00 - 1.6% MTEX entered @ 13.45 exited @ 13.73 +2.0% MPWRE entered @ 17.49 exited @ 17.01 - 2.7% GMXR entered @ 36.83 exited @ 38.80 +5.3% The two losses were because of stupid moves by me, entering a day late on MPWRE and not selling when FRV was not achieved on FORD, then getting stopped out for the loss (to the penny!double dang). I set my stop way to tight on GMXR and got stopped out on what should have been a home run, then didn't jump right back in the saddle when i saw my mistake. While these result may not be the most impressive, I don't feel too badly about where i am after so few trades. I can say that for the first time in a long while my account is showing a steady upward trend, even if the slope may be a little lower than i think it eventually will be. This method seems to find winning stocks. I am about as green as they come in regards to trading and I've been able to assimilate and implement the methodology. Now I just need to sharpen my entry and exit skills and perfect drawing and reading channels to take advantage of the opportunities before me. I hope this is helpful. Rick
Great to see so many people doing so well. After reading through many of today's posts, I wanted to wish you all continued success. Keep up the great work, and as always, Good trading to you all. - Spydertrader
Hi ScottD, Year to date, I am break even thanks to NGAS and BOOM. I made more mistakes than I would like to admit here. Primarily ones that I have cautioned others in this thread to be aware of. Let's just say the market taught me humility. Perhaps some of the folks here have several of the twenties I was tossing around like worthless poker chips I kept trying to make something happen with my final universe. I was thinking that if I could capture some of the moves that happen just about everyday by scanning the entire universe, I could increase my money velocity. It increased all right... I had to get back to basics and the confidence is returning. I have a long way to go before I am profitable like the others in this thread. I can still make more working overtime than I can in the market on a continuous basis. My costs for this system are as follows: 1. High speed internet $50 2. Medved Quotetracker 7 3. IBD 19.95 4. Stocktables.com 14.95 5. MBtrading $1:00 per 100 shares.
2005-01-31, Tuesday - Dry Up Stocks (4) CUTR FORD MTEX SIRF I also plan to watch BOOM, ENER, PETS and VIVO - Spydertrader
I am sure you know, but yahoo shows SIRF to report earnings tomorrow. http://biz.yahoo.com/research/earncal/S/SIRF.html
Thank you for your contribution. Others may have missed this announcement, and I appreciate your post reminding everyone. Good Trading to you all. - Spydertrader
For those who lost money trading GIVN, I am sorry. The volume really dogged itself after the morning. Just to let you know I got stopped out. Also, does anybody have a very reliable source for earnings besides MSN and Clearstation. I would like 3 ways to check.