SSNC is a difficult one to get a count on, but if one of these counts is right it may have to build some more cause now or its got another 20% upside.
Hmmmm, your bear claws are showing....your little bear claws....because as you first pointed out, if it goes down at the present PnF count it can only make it down to about 2400, which could just end up being some kind of shakeout move. If that little bear plays out then yes I think you are right about the LPSY being printed here. 2700 should be the next level to prove the bear case and if it can get over 2750 then we'll know your assumption is wrong because it'll go for 2800. (See a 4-hour-stick vertical chart). I'm not out of the cave yet. I think it is too early to be looking for an LPSY. Consider the possibility that this is a re-accumulation range. I used a $15 box on the ES with a 3 box reversal. The base count gives a target of 3750. So assuming this re-accumulation price objective will match the base objective and assuming the LPS will eventually come in here, say about 2650, then we need a count which would give 3750-2650 = 1100 points. 1100/(3x15) = 24 columns. So far I only see 9 or 10. So under those assumptions this range has a ways to go
Mark Douglas wrote "The Disciplined Trader" and "Trading in the Zone". No matter what technical method a trader uses, what Mark Douglas had to say is essential for success. This is part 1 of 4 parts. The other parts are available also. Enjoy.
Guys does make some pretty valid points. I'm on video # 2 now, and it makes perfect sense. It's like the guy is reading my mind on some of my losing trades. Interesting stuff.
Kinda hesitant to go long on anything with the current state of the broad market... but this one is a head turner... the chart, not the car.. ok, maybe both roughly 40% upside potential... I like that... what I also like is the low volatility relative to market activity over the past couple weeks... and the failed attempt to break below the new axis line on 4/2, like a pinky toe dipping in ice cold water and yanked back out on 4/3....... may be a safe entry right here
Dumb question... Always wondered what "BOT" stands for when i get a fill notification Guess: "buy open trade"??.... If thats right, what do you get if you open a short trade?... "SOT"??
Pretty cool, the TDA mobile app just got an upgrade, now all my drawing sets from the computer show up on the app charts.... App now has the same drawing tools too, but havnt messed with em yet, kind of a pain anyway with a fat thumb vs a mouse cursor But, anyway, just picked up a half position in DG... Been stalking this one for a while, my thinking is that the stock may be long term investment grade, but for right now in this volatile market, just looking to milk it for a >20% trade..... P&F target between $123 and $128, and current price hovering around $100, easiest math ive done since 1st grade
Doubled up my position in RACE this morning after this 4% gap up... Earnings report was today, must have been good news Now im up 2% on the trade with a stop at break even
RACE reports tomorrow morning. Seeing your post made me check FCAU this morning, I wanted to buy them yesterday but didn't have free funds. It too gapped up 4% today. Good luck on tomorrow's ER!
Ah.. You're right.... There was a blue dot (for er) on the TDA calendar this morning, but now its gone.... Sneaky TDA I see it on tomorrow, along with a yellow dot for the conference call
Rough. That's why I usually don't impose an ACTUAL stop, but instead have an alert that will notify me if my position drops below that stop price. That way I can figure out why the alert was triggered, and decide if I should indeed close the position, or if I want to give it a chance to recover (for example: there's some bullshit article that will clearly pass the next day, etc.).
Thats not a bad idea, gives you some discretion.... Ideally, i like to do all my thinking ahead of time, which *should* prevent me from doing anything stupid in the heat of the moment Plus, if im out in the middle of nowhere (at work) i have no worries Game plan is/has been: Buy 1/2 position with stop 5% under.. Wait Buy second half if/when price moves up ~5%, and place stop 5% under current price That way my stop is always 5% under the price, but im never risking more than 2.5% of the trade itself I didn't follow my own rules on this one.. Placed my stop at break even.. Oops
Maybe the market gods will throw me a bone and pull RACE back for another good entry... Ill try try again
Don't mean to rub it in, and you probably know it now, and it's easier to quarterback the replays, but your stop should have been, at the highest, just under the close of the day prior to that high-volume gap-up. That is where demand last came into the stock. If it doesn't come in there again then you want to be stopped out. As it went though, demand came in again above that price but still low enough to take you out of the trade. But hey, with your stop at break even that lesson did not cost you a thing. There's always another trade.
