It looks like there was a problem with some spaces in the url I entered - it should be fixed now. Sorry for the broken link. -Au
Final Universe Additions I added NCTY to my Final Universe this evening. Some of you may have already added it previously, but I thought I'd post the addition just in case someone missed it. - Spydertrader
The original sys(Journal I), says you should exit at EOD when FRV is not reached, thus 22.32 +- should be your exit price. There are at least 5 unofficial variations that I'm aware of , about strategies after the first day: trailing stop 5% . Sell the day after with a market on open MOO when FRV not reached. Wait 10-15 mins and assess the situation etc. Does they give you an advantage? The only proof whe have is a back test made by Mischief, it seems it is better to sell with a MOO the day after if you are a "mechanical guy". Looking at the chart yesterday volume was not very healthy and we are approaching the top discending trendline. Personally I would have sold yesterday at close. My experience (beginner level) is to stick to the original plan till you have an excellent grasp of channeling and all the advanced stuff. To me even at the beginner level the system has been good (I've been trading it for six months, last year) so good that I took a six months vacation in Asia :eek: , the only regret is that I have to study a lot now to keep up with the program. (The material available now, is simply amazing in quality and quantity, I want to thank Mr Hershey , Spyder and all the group for their outstanding work). My trades last 2 days:All Longs ININ entry 19.30 stopped 2% loss BITS entry 7.78 sold avg 7.98 +2.6% (someone entered 500 shares on the bid aftermarket at 8.15 and I was able to grab 200 of them...nice present) GROW entry 21.64 sold 22.55 +4.2% TRCR entry 15.80 sold 16.10 +1.9% (it shoulda been entry 15.30, but it was a very fast surge and it took me by surprise, i sold it quickly because it was a flawed entry). I'm currently holding GMKT entry 20.50, yesterday close 20.38, it seems it has still room to go up and the volume is rising..we will see. Not bad as a come back from vacation ehe
I forgot to say, that I don't like to sell part of my position with this sys, only if I'm forced by a thin volume
I'm in JSDA 20.68. Still holding GMKT , rebounced from a 20.14 low , my 2% stop from entry is at 20.09
I sold GMKT for a wash when it failed to breakout <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=1477129>
Sold ININ 19.86 + 2%, my reasoning: nearly filled the gap(red line) and relative low volume on this surge. Still holding JSDA <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=1477167>
On grow FRV was reached on the first day and thats why I held. Today is the third day. I just sold half at 22.87 today on volume surge (5% from entry) and I am still holding half of my position. I guess tomorrow I will sell the rest. When using a time stop, on the 4th day are you selling at the market open or do you usually wait for the close?