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peterjerome

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Everything posted by peterjerome

  1. peterjerome
    Amen mark. philosophical is a bit like a Möbius Strip does TL have a forum for traders interested in charts with actual entry & exit strategies? Peter
  2. peterjerome
    Example of using CCI for exit management: notes on chart should clarify "3 Strikes & Out". three attempts by CCI to get back above +100 fail exit when CCI crosses below ZL (zero line) Re-entry: CCI TLB (trendline break), CCI crosses above BOTH -200 and -100 Swing Low Pivot occurs:
  3. peterjerome
    well said... it's all about having an 'edge' over your opponent...whoever and whatever that is.
  4. peterjerome
    everything you say is true...many factors do influence the market. the key is how those factors are 'interpreted' by traders. an earnings report comes out... some will see a buy opportunity while others will see a reason to sell. same information different intrepretations. it has to be this way for the market to work. a battle ensues and the side with the strongest 'conviction' wins.
  5. peterjerome
    many reasonable ways to look at life...lots of different viewpoints...helps perspective. you are in a tug-of-war over price AND price is going in a direction favorable to your team. one could reasonably argue that YOUR team is in control . bottom line... if you are not making any money trading you are doing something wrong. all you need to do is figure out what you're doing wrong and stop doing it.
  6. peterjerome
    when price is going neither up nor down but moving sideways (consolidating), buyers and sellers are in agreement on price...generally regarded as a period of indecision. price can stay in this 'range' for short or extended periods. at some point information becomes available and the agreement dissolves. one side views the information as a buying (or selling) opportunity. buyers will agree to pay the higher 'ask' price. demand takes over and price is pushed up. this is the result of buyers willing to pay higher ask prices, not by sellers raising the ask price. buyers (demand) are in control here... you may be caught up in the 'what came first, chicken or egg' dilemma.
  7. peterjerome
    i use interactive data (esignal), a very reliable data-feed. includes the capability to add my own custom programs directly into the chart. tons of user-contributed programs are available. i added voice into my PnF charts. this allows me to easily screen 250 stocks and be voice 'alerted' to the pattern forming so i can add these to a watchlist. the cost of the trading software is simply a business cost. my income from trading is over 6x my SSI. if can't cover the cost of the software from my trading equity, i'll stop trading and not look for cheaper software. cost is $100 month. peter.
  8. peterjerome
    divergence is another tool...not a holy grail...knowing how & when to use it can be effective. peter.
  9. peterjerome
    here's a reality check: your friend must consider his lost money as 'tuition' at a very expensive school...the university of "hard knocks". hopefully he learned a very valuable lesson and will eventually benefit from his new 'degree'. if he continues to fault someone else for the loss, no lesson is learned. years ago 'stockbrokers' charged $200 - $500 fees to place stock orders. i assumed they knew more about picking the right stocks than i knew. i got involved with a broker and slowly watched my $165K account churn down to nothing. i still have the check from cowen & company dated jan. 8, 1997. it is drawn on the chemical bank of new york..."pay to the order of peter... One Dollar. it is a constant reminder to me that the only person that 'really' cares about my money is me. i began learning everything i could about stock trading. i'm 70 now and for the last 6 years i've been able to make a good living trading equities...averaging around 60%. good fortune to you and your friend. peter.
  10. peterjerome
    for those traders who believe in the power of PnF for screening... i use PnF to locate double top(s) with a rising bottom. this stock(s) is put into a watch list and monitored using momentum (CCI) to locate the actual TLB (trend line break) which always preceeds the actual double top buy signal from PnF. this is a current trade of mine. questions? peter
  11. peterjerome
    thanks mad man. ahhh...no taco bell tonight peter
  12. peterjerome
    here's 2 charts. a P&F chart and a bar chart. notes on chart explain strategy. questions...comments? peter.
  13. peterjerome
    OK...i attached 2 files to a post prior to this post.not sure how long they take to verify with moderator. peter.
  14. peterjerome
    ok tams, i've attached 2 charts to this post. 1st chart (PnF) is used for screening 2nd chart (bar) is used for entries. notes should explain strategy(hopefully) peter.
  15. peterjerome
    Tams, i have charts in eSignal (.png) format. i can email but don't have URL to post here. unless you know how to post (.png) here? peter.
  16. peterjerome
    i use PnF and eSignal daily to screen for trading candidates. currently 2 setups: bullish catapult, and double top with rising bottom. candidates are monitored with standard bar chart to watch for breakouts using only CCI. any other traders here in TL using this platform? interested in exchanging ideas. (forgive me if this is not the correct forum for PnF) thanks, peter.
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