#21 The TIVO long is between concept stage and backtesting stage. I have actually traded this concept and have been talking to others in the chat about almost daily but it is not a signal I will trade again until I am able to backtest and know what my expected return on it is to the best of my ability. Thanks Robert
Love Trading, Thanks for your post. I think there may be more than two ways but if you found two ways that work well for you that's great and I commend you for it. I agree it was time to rethink my approach and I have gone back to the start which is only trading known good setups and that is working for me. I have watched NoDoji trade from almost the beginning and still almost daily and I agree she really has shown what can be done with the right attitude. Best of luck to you this year as well Robert
Hi NoDoji, If you say so I believe you. I was wondering about you looking at BID though : o ) I can say that while it sure could have appeared that I was not watching the price action of BID it was the fact that I was watching it that I did not short it. Part of my signal is time based and in simple terms the entry price tends to continue higher as the day progresses. As the day moved along I raised my offer price as I should and BID never reached it although it did reach a price that I would have earlier shorted it at. I was indeed studying (and I agree that I have not fully been able to match the two as I thought I would before signing up for classes) but I didn't "miss out" on BID. It just never made it to the entry price. BTW, have you picked out the sim color yet? : o ) Robert
Hi Deadwood, Thanks for your post I have fly as well and tried TTN. I have not tried Briefing but others in the chat have it. I think fly is a good value but the intersting thing that I found when compariing the news services is that it appears to me that bloom more often than not is first to kick out a story.(based on the chat room). Also, I have the hold brothers free service and they seem to be faster in announcing the big stuff like key earnings and government data during my comparison period with TTN and currently with fly. If I was actually going to sit and try to trade news based on speed I would trade with bloom or i would not personally do it at all. I would welcome the name of brokers that have a better short list than IB. The primary reason I use IB is there short list. Granted I have not tried many others but I personally also have an account with tradestation which I found not to be as good and more often than not others in the chat (using various brokers some prop some retail) have a problem getting shares to short before I do. So please let me know who you think would be better so I can take a look at them Best to you Robert
Hi BPtrader, Trading is not my only source of income so my family is not eating government cheese yet but your point is well taken. Its a late reply but actually I believe the near future and the future in general are looking very good. My wife even commented yesterday about my trading "It looks like you have mojo back" TIVO was a serious test of my trading and I was very happy with my actions / decisions while trading it (and even after when I thought it was more likely to fall into the close but I exited, and then shortly after when I thought it would rally into the close which I did not take as that signal is not ready to trade yet) Best to you and your family Robert
Hi oraclewizard77, Thanks for asking and I am going to look at the differences in ownership profiles to see if I can find a correlation between ownership and my signal. The bigest qualifier I use if the price action signals an order entry or more correctly what price signals an entry is volume. my signal performance degrades as volume goes down and once volume starts going below 200K a day its of no backtested value. I am going to look into your idea as it appears the small active float stocks have the ability to have much larger extended moves. Thanks Robert
Hi Xspurt, Yes, always a work in progress even if that means taking a step backwards while trying to go forward. I can say that nothing has changed and I am still happy with my trading lately even if the PnL doesn't show much. The fact is that once I start making money again (which I believe I have) it will be pretty easy to ramp up the share size and the PnL will follow. regardless I am in no hurry and my only focus is trading well and feeling good about the days strict discipline when I drive how at night Best Robert
Hi Dustin, Thanks for your post and taking the time to do so. If you are referring to the discretionary trading of fading I totally agree and that is why I have stopped it. My signals that are part of my trading plan continue to work well and have allowed me to believe that simply following them and doing homework instead of trying to "find trades" would be the path to success. The major change (although I had been working toward it for a while) happened on the first Tuesday of this month and I think marks a turning point. Time will show if I am correct or not Best Robert
Hi MohdSalleh, This shows the problem with getting behind in replies. Along with it being 1:30am and taking an Ambian about an hour ago I don't recall any details of the trade off the top of my head. But if my journal says I did than I did. the symbol rings a bell but they all seem to ring a bell as I have traded so many different symbols in the last three years. I took a quick look at my ET journal and didn't see the trade or results so I guess it didn't have too big of an impact of me either way. : o ) Robert