Trading breakouts/breakdowns

Discussion in 'Trading' started by TheFinn, May 1, 2001.

  1. rfoulk


    } TheFinn:
    } Rfoulk-
    } What constitutes a stock being "weak" or "strong"? When a stock is
    } "strong" does that mean it sticks to the support and resistance levels
    } more? Is a "weak" stock a stock that moves too easily (very volatile)?

    Deciding whether a stock is strong or weak is mostly arrived at by watching how it reacts to the futures, and a few other cues, like how it behaves around support and resistance.

    This guy has a pretty good system and the room is a pretty good place to learn things if you're willing to spend a little time and absorb some of what goes on.

    The main trader, Gold, hangs out mostly in the text/irc side of the site. But lately people have been coaxing him into the voice side for a bit to give blow by blow descriptions of some trades. Very educational. He trades most of his own calls.

    It's one of the best chat rooms, and Gold is one of the best traders/teachers that I've encountered in a chat room. Especially a free chat room.

    I guess you could call it a chat room under construction ... They're building web pages and class calendars and inviting interesting folks in to give talks. No doubt they will charge at some point, but it sounds like the price will be nominal -- the guys involved seem pretty down on some of the high prices being charged elsewhere.

    Oh, and the text channel has a cool bot with news and real-time quotes, which is pretty nice for when Qcharts starts failing ... and to entice traders in the room to work more as a team. (I think it's pretty cool, but then I wrote the bot, so I may be biased. :)

    So much for the commercial ... (I had a good day today and most of my trades were based on Gold's calls.)

    #11     May 4, 2001