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imahippi
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I love the way you write about the market DB. Thank you for this post it was very helpful for me. I sure have learnt a lot from Theresa Lo as well thanks for the guidance Jay
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Hi Gringo I am long at 27.96 with a stop just below the Jan low of 27.74 for a total risk of 22 points plus commission. I entered the trade as it looked like a good bounce---not so sure with the close going back down quite decisively. I went short earlier today after price broke through the premarket high ; made a new high and then fell right through the premarket low. I went short off the 5 min Q chart @ 8:00 at 28.82. Like a novice I jumped out scared at 11:20 when a cool head could have kept me in all day!! I found it peculiar that price just could not hold all day even with a fair bit of larger volume up bars.
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Thank you and I will try the chat again. Jay
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Db I've just started watching the Nasdaq tick along side my Q's chart. I usually watch the 1 min chart and sort of switch between 5, 15 and daily when I am in a trade. When you post tick numbers are you getting that from a 1min chart? If yes , which number is it? The close #? Sorry but I would like to get to know how to use it and don't really understand how you come to the #'s on the daily charts in your blog. To make sure I understand your use of it: At points of interest you watch the tick number to see if there is a divergence. So if there are two pokes down to a similar level for example, you would look to see if the tick info reflected less force or momentum on the second which would hint that perhaps the down move was easing. thank you for your time
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Managing a winning trade is one of the best feelings in the world!!! In my top ten favs!!!
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Some people say they use mental stops. I think this is my goal but I find as a beginner I have to put the stop order in right after the buy or I often fold. Until I develop better discipline I have to do this. It is the primitive form of discipline for me. I look for the point where---to me--- the trend that I am hoping to capitalize on is broken. In my trading I am working on being more agile, that is , jumping out quickly and watching and then getting right back in. This is not easy for me. Also, getting in as close as possible to the test of support or resistance.
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Db Everytime I make a successful trade off a hinge I have to say thanks again for all I have learned through your posts. Today I made a beautiful textbook style trade off the Q's. It was such a stress free trade I made a few emails; put some bread on the pan and just kept an eye on things. Thanks also for steering me to theresa lo's site. I really enjoy her take on the markets. Thank you Jay
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aha! Thanks Db. For some reason I read the whole thread and got a lot from it and everything was so clear and then that chart threw me off. I must look retarded!! I am not. I think I just get overload after hours of reading and then fail to make obvious connections. :crap:
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It is the chart from post #2. Your comment re taking the short like "no duh" just made me wonder what I am missing as I would have been watching $ hit 1986ish on vol for pot support at aprox 9:37. Then again it hits that zone at 9:48-49 with a good vol bounce. So two bounces off pot support. I would have taken that trade and been reassured by the hrl at 10:10ish. I would hopefully have gotten out at the DL break after the big climax blow up. Was there something about this first trade that would have warned you not to even bother? thats what i was wondering about
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Topic Of The Month December, 2008
imahippi replied to Soultrader's topic in Announcements and Support
I found this post on "Re: Db's Cajas Famosas" interesting and have nominated it accordingly for "Topic Of The Month December, 2008" -
sorry I didn't edit my post and see some glaring grammatical errors:doh:
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Db I've thought about this since looking at the chart yesterday. You write that one should have taken the short and I can't help but look at those the pot support at 9:37ish with nice vol. Then more vol on push up and again $ stops at 9:49 ish and a hrl at 10:10. I would have gone long there? Would you have waited those out and if yes why? Or would you have just realized you were on the wrong side at the Demand line break and what looked to be a big vol. buying climax?
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db I've asked this a few times before and never seem to a) find the answer as I've forgotten the thread I posted too b) get an answer. You are an experienced trader. Why do you trade the NQ as opposed to say, QQQQ? Why is it better for you? Jay
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That's what I'm doing!! I actually am trading though. I trade ten shares of qqqq at a time. I find the learning curve much faster and more efficient when I am really in versus going over possiblities out. Jay
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I'm hoping someone will look at my chart and let me know if I missed anything as far as s+r, vol and sup and dem lines Bump: btw Please dismiss the "db would do this" and "db would do that" as I often try to think of what he would do----:embarassed: Bump: btw Please dismiss the "db would do this" and "db would do that" as I often try to think of what he would do----:embarassed: