Always check the Final Universe to see which stocks find themselves in Dry Up. I do this due to the fact that, on many days, the Daily Hotlist fails to provide any stocks in Dry Up. When I first started the Original Journal, I found posting helped me to stick to my plan. Failure to do so created numerous questions from those following along. Perhaps, your continued posting might help you stick to your plan as well. - Spydertrader
for those who use this sys to short DCAI broken DU low band when price was @ 10.75-10.80 , lots of time to enter.
Doesn't look like there is any trade today... did OK with ES. There is one fortune cookie rule I learned from all my amature trading: Once you are in a trade, ACCEPT THE RISK. Your brain won't get fried as hard. Good trading.
Thought I would point out to everyone why remaining patient and waiting for the signal often provides superior results when compared to 'front running' the Watch List stocks. This morning, KNDL appeared to be heading for a breakout early on. However, soon after the initial price surge, volume evaporated. As a result, we have price falling back significantly from the early morning high. See attached chart. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=918847>
Hi martys, I really appreciate your posts. I hope you are able to figure out a way to make the system work for you. It would be great if we read a year from now how you were able to improve and read about the steps as you go. Just my 2 cents, G87
Actually the system has been profitable for me the short time I traded but of course I have no experience trading it thru various market cycles. And I would never short an individual stock especially low volume stock so don't know how I will do when the market takes a down-turn. I've heard horror stories about trader's face turning white after a stock gapping way up intraday when a news item hit. I would rather short the index futures or the ETF.
Hello Spydertrader, Would you mind giving an analysis of the chart for the last two days of REDF? TIA G87