All things considered it was a pretty good day. It surely could have been worse or better but I made it through to the other side in one piece and will live to fight another day. REGN somewhat tortured me most of the day. It somewhat made nice at the end of the day though. I faded the move down after covering (way to early) and I must have left a bid out there and forgot about it. I was so busy today working on the site, submitted a new SA article and trading that I didn't know the bid was hit until I was closing up the system for the day. As it turns out I bought 100 shares at $58.91 and when I realized the mistake the price was $64.19 and I closed it out. So I guess I was able to get a small mail in rebate for the beating I took. Interestedly my signal scanner knows to watch out for volume spikes and I found a flaw in the logic. It uses the previous bar relative to the last 3 bars and that allowed me to enter into $REGN early. About two minutes difference made the different in entering in to start around $60 and starting around $65.20. That combined with the no longer used William B7 signal will turn trades like this one into profitable fades. Hat tip to Bale in the chat room for pointing out MOBI to me. I was able to fade the move and by one dollar was my best trade of the day. Thanks Bale !! Speaking of the chat room there was over 30 people in there at one point in the day. It made for a lot of eyes on the market and good interaction. I faded the gap up with FTNT and did well with that one and I also faded although I decided to get out %CTXS. It was during the time I was working my way out of $REGN and I just didn't need another pounding so soon. So I walked away with a small gain. A losing day after REGN but not bad with the other gains and my signal scanner is better for it. I count that as a win.
robert, my sina option doubled. I am laughing at those "never pick top" jerks, such as nodoji. sina soared to a level unsustainable, buy? only idiot! gold/silver soared to a level never see in history, a buy? only those suckers. sold silver/gold too, when they hit my ema, will cover. day traders are suckers, really suckers. 30ticks loss makes them like losing a fortune. no wonder, they are suckers
Well I am glad to see my thread is still here. I thought I was going prop and get my S7(still might) so I needed to come up with new names as I use my real one due to compliance. Anyway, I been trading everyday for the most part and working my tail off programming, reading, writing (except I cooled the writing by a lot due to an injury). I recently read a book about tradestation, I will post a review here shortly as it is a good book. I traded mostly futures this week. The spoos which have treated me well (for a change) and gold which has been just great. Some stocks but very little as I just am not getting many good signals that I do well with. I cut out a lot of the fringe trading that seemed to do more of giving me stress then money. I can still also be found in the same chat room telling bad jokes and sometimes worse stock calls...... Have a great weekend
Hi Robert good to hear things are well for you in life. Glad to hear your trading is doing you well also. You are one of the few gentlemen on this board and alas it is poorer now due to less posting. Interesting change for you and which products you chase now. Good to hear your risk and stress levels are lower because of it. All the best John
Hey John, Thank you very much for taking the time to say so. I appreciate it !!! My futures trading always seemed to get buried in between trading stocks. I used to trade currencies full time (back in the 80's) and I blew up when I was long the Yen and short the dollar in the summer of 1989. I was right about the move, just not the timing. Since then the dollar has fallen so much that even I wonder how it can be. I have been focused on a setup that shows promise so I only take the premium stock signals which there have been few and far between. Spoos is a good chart trade so that keeps me in the game. Have a great week Robert
I finished reading TRADESTION MADE EASY and here are my thoughts. If you have Tradestation or you are thinking of getting it you are not alone. Many traders and investors use its powerful features to aid in searching, analyzing, and even automated trading of stocks. If you are using it, are you getting the most out of it? If you are like most, you thought of an idea and wished you knew more about Easy Language and or the methods of moving the idea from your head (or the back of an envelope) onto the trading platform. I believe Tradestation is a must have for anyone that takes the markets seriously and doesn't want to spend thousands of dollars a month to get all that Tradestation offers. I have used Tradestation for over five years and have spent hundreds of hours reading, coding, and learning Easy Language and the Tradestation software platform. In my reading, I recently came across a wonderful book called 'TRADESTATION MADE EASY!' by Sunny J. Harris and published by Wiley. I read good things about the author and the book so I received the book with high expectations. With over 700 pages, this book is packed with great information. I started very quickly dog-earing pages for future reference, and I was doing it so often that I ended up using sticky notes to help my quickly get to pages for future use. It should be noted that this is not a beginner's book in how to setup Tradestation on your computer and logging into your account. This reference is much more advanced with examples in the methods of getting things done once you are past the 'newbie' stage and desire getting some real work done. Harris is very clear in her writing, and it is obvious she has used the product enough to know what the average user will be thinking and experiencing. Topics covered include the use of Easy Language and an explanation of programming methods for non-programmers, development of trading signals with examples, reporting of expected results, and warnings in what NOT to do (i.e. curve-fitting, which is the selection of data that is likely to give the desired results but not likely to be the future expected results). The discussion on optimization alone makes this reference guide well worth getting a copy. Harris instructs the reading in using some of the lessor known features of Tradestation so that the reader can automatically test and record an idea using different variables. This powerful technique can save massive amounts of time compared to doing it manually, and perhaps multitudes of the cost of the book in better results. As someone who prefers to gain my information from a book rather then searching ad nauseum online, I really love the appendixes that are included. Included are Formulas, Reserved Words, User Groups (for the times you do need to go online to find what you want), Built-in Functions, Indicators and more. Plus, I like having easy to understand descriptions of what they are and what they do. Much better in my opinion then even the software platform's help. If you are using Tradestation and want to use more powerful trading, scanning, analyzing, and back-testing components 'TRADESTATION MADE EASY!' is a great way to implement improvements immediately. It is easy to see that Harris eats what she cooks when it comes to Tradestation advice. I attribute the fast pace of my absorbing the content as a result of Harris actually trading and using the product. It is hard to substitute real world experience and you do not have to when learning the methods taught. If you use Tradestation ( and you should be), get a copy of this book. You will not regret it, as I know I have not. (I receive nothing if you buy it, and I do not get paid for this review either)
I have been shorting the spoos today. Surprise surprise,... I have found success at every entry point. I left a lot on the table so far but took a lot as well. TLT hitting new yearly highs
Wow, another month gone and back to school items on the kitchen table. I sure like spring better than fall, but fall is not bad. It is the cold Wisconsin winters that I can do without. I really wanted to go long the market on Friday. It seemed like a no brainer, and I talked about it briefly in the chat. In the end, while looking at the spoos near the end of the late session on Friday I decided that political risk or carrying over the weekend outweighed my thoughts (and not much more than that) that the deal would get done and the dumb money would rush in to buy. Classic buy the rumor and sell the fact, and so I shorted the spoos shortly after the open. Little did I know how far they would go. I did manage to grab in the end with about six or seven trades in total, about 9 points per contract today. I did get a signal AGP at the end of the day which I passed on. I am watching COCO and will likely enter into another long via selling $4 puts with an exp month yet to be determined. That was about it for the day. I worked a lot of my research of stocks and stated another book (I love to read). Well, at least I love to read some stuff. All in all a very productive day and I am looking forward to getting more sleep after earnings season is over.
Not a whole lot to report today. I traded gold back and forth as I received a short sell TD Combo 13 on the daily chart. The last time I see that it had a 13 it opened higher and then fell hard through the day. I would expect about the same tomorrow or very soon with gold. It is next to impossible not to read about how strong it is and when that gets combined with the fear that has taken over the market, we are setup for a correction. So my short with gold will be a combination of collecting option premium and hopefully some directional movement downward. After seven down days in the overall stock market, I would believe it is more likely than not that we get some bounce either Wednesday or Thursday. Congress is leaving town so they can't mess anything up for a while. Even if the dog and pony debt show made just about everyone roll their eyes before it was done. I entered a little early with the gold trade, but also did an option hedge on half the position. I will likely hedge the rest tomorrow and try to collect some premium and maybe even get a chance to watch it pull in sharply before I do. I am very interested in COCO at the $4.00 price and will likely begin another long position via shorting puts if I get time tomorrow.