No need to apologize. I appreciate you taking the time to post your viewpoints, and have no doubt, many will find your insight helpful. With respect to the three additional stocks, each finds itself in a position for a possible move to the upside. First as a non-dominant traverse of the down channel (decreasing black volume) and then (if the planets align properly ), a breakout of that same down channel (increasing black volume). As you pointed out, the beauty of the system stems from the fact that if none of the aforementioned situations develop, we simply pass on the trade. While this situation doesn't represent "trading between the FTT's" as previously described, we look for a RTL Traverse as a means to locate the first leg of a Point Three up channel. In other words, instead of an FTT to FBO resulting in an exit, we reverse (or in this case enter long). Thanks again for your analysis. - Spydertrader
That old thinking (as you call it) serves you no good purpose. Set it aside and leave it exactly where it belongs - in the past. As to 'dumb luck' influencing your trade outcome, you know what they say, "Chance favors the prepared mind." Nicely done and keep up the great work. - Spydertrader
Here's a free one that I use which works great... http://www.mirekw.com/winfreeware/mwsnap.html I wish I would have gotten out of NVEC when you did virgintrader
You can also use the FREE "ALT + PRNTSCRN" button above the function keys. If you use just PRINTSCRN it takes a snapshot of the whole desktop screen. If you use it with ALT, it captures the active window. The copy is put in your clipboard viewer, and usually I just paste into paint (START=>PROGRAMS=>ACCESORIES=>PAINT) or whatever favorite photoeditor you prefer. Every windows os has this capability for free... HTH MAK!
Spydertrader, thanks for your explanation of the trailing stop method. I agree completely on preventing a winning trade from turning into a loss. Very nice trade and nice job on getting out early yesterday. I also allowed the thought of a tight stop causing me to miss the next leg creep into my exit strategy for this trade. Since I was not able to monitor the trade yesterday, I ended up placing a trailing stop order Monday evening to allow a maximum price deterioration equal to my net breakeven price. Since the first bar yesterday saw a $0.47 price improvement over Monday's close, my trailing stop provided a net profit of $0.40 on the NVEC trade. Again, I think you did well in capturing a good chuck of that one day move, and I find your contributions here valuable. -Buffalow
Regarding the Camtasia videos on the traderuniverse website, does anyone know if an index exists which identifies the topic(s) covered in each recording. I have viewed several files, but have yet to come across coverage of Rockets and would be very interested in that information. -Buffalow
I played GIGM for a small bounce today. It did not have the volume I required at the end of the day, but it does look like it's confirming a P3. I exited this just now for a small gain, I want to see some volume to convince me it's going back to the LTL. Thanks, TNG
I also played HWCC for a decent bounce today. Again, not the volume I'd like to see at the close, so I exited with a decent gain. The volume was OK, however, and I feel like I am going to regret not holding this one until it hits the RTL. Thanks, TNG