Read up on the "Stop Offset" Method as discussed in previous iterations of the Journal. You may find some value in using The 'Stop Offset' Methods. In general, when trading off channels and Gaussians, as Price crosses the RTL (Right Trend Line) on increasing Volume, one exits - both locking in Profits and avoiding triggering of a stop. Remember, stops used at the beginner level are designed to keep the inexperienced trader from doing something stupid while learning the methods and develop expertise. In other words, once the trader gains appropriate experience and hones their ability to recognize the signals provided by the market, stops no longer become a necessary component. Change occurs a great distance away from any 'stop' point, and as such, the trader makes decisions and takes action when appropriate to the market, and not, in response to a P & L statement. - Spydertrader
Thanks for these suggestions. As nothing tradable has appeared today it looks as if I will have plenty of reading time on my hands. Suss
Final Universe Additions BHS BPHX DBTK ENG GEOY LXU QMAR RATE Final Universe ANW ARGN ASIA BHS BKI BPHX BTJ CALM CHDX CMED DBTK DRYS DSX EMKR EMS ENG ESEA EXM FMCN FTK GEOY GLNG GMCR GMKT GRA GRRF GSAT GSOL HMIN ICOC JADE JASO JRJC KMGB LAZ LPHI LXU MALL MEA MLNX MTH MTOX NFI PTT QMAR RATE SFLY SIGM SNCR SNDA SNHY SSRX STAR TASR TBSI TGIC TRCR VDSI VSR XING Monday Dry Up ICOC KMGB LPHI MTH - Spydertrader
I have been lurking for sometime and I am up to page 400 in Journal II. Lately I have been reading about "Hershey websites" (still upcoming in journal II). Are there any of these working now? I want to download the videos and writings. I have been doing various searches on Metacrawler and looking at the Tuscon IBD site and come up with zilch. Thanks.
http://www.bluehost.com/cgi-bin/uftp/?domain=ftp@traderuniverse.info make sure your java is up to date, when it asks for password just click ok, then click on Tucson IBD Meetup then Meeting Videos to see all available videos.
My dry-up list for today: BHS CKSW FMCN FTK JADE LPHI MTH NFI NGA SNDA SNHY VSR Basically it has been a poor week for me. I have been using the time to practise drawing channels and watching how the price unfolds in relation to them (or not) in real time. Suss
Susukino, hang in there. I first saw the light after studying channels and gaussians for 3 months or so. Trust me, it's worth the effort. My portfolio is up +13% since the 1. of november. In retrospect I can see I made a lot of stupid mistakes, hence i'm re-reading Jack's "Building Channels for Building Wealth" once again. The result for me would otherwise have been >+20%. Thanks to Jack and Spyder and everyone who have contributed
Well done - a great figure for such a nasty market. I'm down 2%. Part of that is the losses I have taken (some of which I would no doubt have avoided with more day trading experience). Part of it is that my DU lists just haven't generated many signals over the past couple of weeks. This might indicate a problem with the way I generate the lists, I suppose. Anyway, more study is clearly required! Suss
I've been having the same problem, but I don't think it has anything to do with you (or me). The market clearly has had a lot of volatility lately and volume in general has been very high. Hence, one wouldn't expect many Hershey stocks to be showing dry up.