Hi mrpace, I did much worse and I am still happy... well almost happy. We just wait for the next kill... that is the beauty of this method. Right?
Not to complain again, but I see my errand (actually it was a dental appointment) cost me entries into ELOS (which looks like it's not going to hit FRV...) and IRIS (nice trade so far). Also, I should have shorted NGPS off the open, but I was in too much of a hurry, while also trying to monitor BOOM. This short would have been another nice daytrade.... Woulda coulda shoulda....LOL
Yeah... I want to get out NGPS this morning (before hitting my stop)... It just escapes me. I think subconsciously I want to stick my head in the sand. But I remember I was deciding to buy either NFLX or NGPS... I just played NGPS a few days ago and make a little money. The familiarity got me into it hypnotically. I am gonna have a rule for myself not to repeat play immediately... just to keep myself fresh and less baggage. P.S. I was crying to get out of ELOS at one point (pullback).
Spydertrader, Few problems with your assesation 1) Gap ups don't count, basically none of you can benefit from the gap up unless you were in the stock beforehand so gap up = useless . 2) JMDT - I said above a certain price then it will go up. 3) PETS - breakdown doesn't have to be today. 4) 20 cent movements are not movements thats chop 5) I know your method already so, I'm just giving you some actual price action analysis. Just dry up volumes don't make a stock roll and the other things you watch is only part of the whole picture.
Damn... maybe I should hold PETS. Coolweb, what SpyderTrader said is true. If you don't believe him, pick a few stocks randomly on your own and try to determine whether they are going up or down. Then check it tomorrow. He has nothing against you. Just want you to face the truth.
If your analysis suggests a stock (or several stocks) should move lower in price (or not at all), and those particular stocks gap and run in the opposite direction, then I suggest it does count. No you didn't. I have quoted you directly. Perhaps, you could provide more clarity in future contributions. Price Action Analysis which involves some mysterious date in the future, rather than, today's Watch List doesn't really provide much direction now does it? When you 'predict' a lower price, and the price trades higher, you should not expect to receive a 'correct' score for that prediction. Thank-you again, for providing an example of what not to do when trading these methods. Following your analysis would have cost people money today. Perhaps accuracy isn't a top priority in your journal, but here, we run a much tighter ship. In the real world, inaccurate predictions have consequences. Those consequences may involve significant loss of capital. I suggest you refrain from dispensing 'price action' advice in this Journal until you can at least maintain an accuracy level above that of a coin flip. Again, continued success on your trading career and with your Journal. - Spydertrader
Spydertrader. maybe you have gone insane but I haven't had a losing trade in 3 months What coin flip are you talking about here? Don't be ignorant and spew out bullshit , I know everything about your system and whats missing from it But anyway, continue with your trading, I'm sure you will figure it out sooner or later once you notice you just ain't making much money. I'll definately not dispense any price action posts here anymore I only posted because I find it odd nobody even touches on the topic in this thread.
If you know the system and have ways to enhance it, I'm sure Spyder and us would welcome the suggestions, but to arbritarily say this is going to happen with this stock and that stock without any analysis putforth puts your posts in serious legitimacy doubts. Spyder has said in the past there are many levels to this system.