Thanks Spyder! RE: ANDE..I got stopped out for a 50cent gain or $350 for the day! My challenge, like most of us here, is that I cannot monitor the markets all day. My job takes me out on the road hence, making it a bit more interesting. RE: Patience and Discipline I am really thankful that I ran into this thread. Your words ring very true and it has made me understand that the lack of patience and discipline has been the root of my "mistakes" (and ironically some of my home runs - which was mainly due to the dot com boom was due to this too!). Reading the journal and "trying" to apply it via paper trade made me realize: - one doesn't necessarily need to hit the "home run" to build wealth; there is nothing wrong with CONSISTENTLY making small profits over time. :eek: - Plan the trade; trade the plan. I trade now with stops (specially since I cannot monitor it during the day). I don't fret about missing the move if I get stopped out; I just tell myself that the next bus is coming soon. - position sizing and money mgmt is very important. Previously, i held concentrated positions; without discipline, this was a recipe for failure (and it was). I now trade disciplined sizes (700 shares max). - the more i read, the more it made me realize how much more i need to learn and be better at (technically) but the biggest "aha" was understanding my lack of patience and discipline. I don't know where this journey will take me....but I feel like I'm more "at peace" with my approach now. I've got you and the rest of the cool traders here to thank for! Regards
David R. from the Tucson IBD Group has provided a URL for storage of Camtasia Video Files. You can download the video files from the following URL: http://traderuniverse.info/ No password required. Many thanks to David for sharing his bandwidth, and I hope everyone finds the information helpful. - Spydertrader
Anyone bite on CMED today? LBDU: 105,610 FRV: 631,888 I got the LBDU buy signal and bought a dip at $22.60... OMNI was looking interesting but stalled at $9.00 MGPI looks interesting, looking to buy a dip it volume continues.
I had my eye on both OMNI & CMED this morning. When reviewing the daily charts last night, I liked the CMED chart better than OMNI (Attached) because of the uptrend. However, CMED looks more like an FBO intraday, whereas OMNI continues to show strength (also Attached). - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1178610> Side-by-Side Thirty minute Charts .... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1178611>
Now here's a question for ya spyder. Since OMNI wasn't techically in dry-up, what volume would one look for by EOD? For "normal" dry-up stocks, you'd look for FRV but what about OMNI? (Actually it was in dry-up visually, since there was a volume increase today.)
Since we already have improved price, we then want to see improved volume. I'd look for volume levels to exceed 750,000 shares on OMNI. Based on the most recent low ($8.10 USD -yesterday [8/24/2006]), price needs to reach the $9.72 mark to click off another 20% Price Run - needed to maintain rank. With current price holding at $9.10 USD, we don't really have that far to go. In addition, keep an eye on the Stochastics (14-1-3) looking for 'intertwining' to occur. - Spydertrader
LOL while I was in the restroom, OMNI broke out with a big ole slug of volume above $9.00 Missed out.
The 27julymeetup seems to be missing volume from the 42nd minute to the 60'45'' point.The speech after this is distorted.Also when asked how many were making 5% month on month and how many weren't?
I believe that is the video being captured when Jack accidently jerked the microphone cord from the PC connection.