I'm not Spyder , but the FTT on your chart looks like it formed 3 days ago (long channel) at the 44 level. You have labeled where you anticipate a break-out (short).
You're not Spyder!There are a lot of people with relationships to one another on this thread,however.That's good from a reinforcement perspective.
smarty pants! Question for u: Spydie...I was looking at that when you posted and passed on it as it was right smack middle of my channel and the stoch/macd haven't crossed their buy points (0 of macd and >50 for fast stoch)on the day charts. So.. On the flip side; my shorts are panning out...so, i cant really complain. Recently short HWCC at $26 as it was sitting LTL with diverging indicators and volume. have a great day guys gotta go to work!
We all miss a train now and then. I missed this one yesterday. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1375208> The nice thing is: There is always another train to catch. No need to fret over missing one now and then. - Spydertrader
hey guys, anyone here trade the Icebergs? i know most of us are familiar with rockets and bruno... and i trade these very often.. with emphasis on bruno. However, i was wondering if anyone have any experience with the Icerberg setup, and maybe could share your experience trading this particular method?
Hey spyder, i understand you try not to risk more than 2% of your total account size in any single trade.... and by using the risk calculator i was able to calculate how many shares i should buy if i set my risk % of total equity for a single trade to 2%, and set my initial stop in a stock at 2% (since i'm using the beginner method, where 2% is the initial stop, then 5% as trailing stop) and since my account size is 40,000... if i set the total risk of a single trade to 2%, the most i lose is $800, which is great, but the shares i buy for a single stock is about $40,000 in value.... i do have a margin account... but this risk calculation seems to assume that you're only trading 1 stock at a time.... if i was using this amount to trade, i will be utilizing a lot of my margin buying power, and MBTrading only allows a certain amount of overnight buying power, which means at a time, i will only have about $98,000 of overnight buying power, and if one stock takes about $40,000 of my trading equity (margin) then i will only be able to hold 2 stocks at any given time...