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03/20/2013 Live Update

Re: 03/20/2013 Live Update

Postby taggard » Wed Mar 20, 2013 11:49 am

There's a saying... losers average in losers...I cut reds quickly[/quote]

couldn't agree more. for newbies there are two elements to this idea. first you have to have a very clear idea of when to cut. i hate the word system--but you need to know your exact tolerance however you figure that out. the other problem is to be "disciplined". now this is much harder on your first 300 trades than it is on the next 1000. the problem is you have less feed back and have to be yet more "disciplined". personally i am not big on disciple except inside a context. or i don't see any reason to be totally anal all the time. so if you are starting out--you need a way to grasp this that is so absolute it's like branded on your brain.

lets put it this way--the idea you should bail losers fast--is the number one thing period. it's infinitely more important than your trading system--and in fact if the rule is followed totally--will actually help you create your system. a distant second rule is "let your winners run". but that is nothing compared to keeping a handle on your capital. if you are starting out or have problems with bailing red trades--try to think of trading as a continuum. if you have 500 trades in mind you can get less attached to 1--and this mental exercise mimics the metal set of a pro who in fact has 100s of trades.

emotionally you need to turn your brain around to feeling great when you lose money--meaning cut your losses. failure to do this will to very large problems ahead. either getting into a "bummed and stoked" cycle. so getting bummed on losers tends to cause you to ignore what they are telling you. and getting stoked when you get it right--is right before it gets really bad.

try to think about how you experience bailing and fix that--that in turn will make the mechanical part much eaiser.
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Re: 03/20/2013 Live Update

Postby silicon_beaver » Wed Mar 20, 2013 11:50 am

Out of Bounds wrote:
silicon_beaver wrote:
Unique wrote:Limit stops are for suckers because MMs will crush you if you're a day trader. So if you have the time to monitor, then manual stops at market prices are the best IMHO.


As individual trader, I use manual stops. But most time, limit order.

I put in an order at my target, then hit cancel/replace and have it ready at my fingertips to change price and hit sell to close. A mere half second and I can get away clean.



Like a load gun. :mrgreen:
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Re: 03/20/2013 Live Update

Postby stlwater » Wed Mar 20, 2013 11:53 am

toddymc wrote:Preparing to scale into SPY puts for a scalp or more :mrgreen: ...especially if we hold below ES 1553
SPY 155 put.png

sorry about this sizing issue.. changing browser settings now...


The descending triangle on SPY 5(min) looks like someone's evil plan (not mine). Me think it's scary. Like big red apple. Won't touch it.
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Re: 03/20/2013 Live Update

Postby Hubon » Wed Mar 20, 2013 11:56 am

Good Morning to you, sorry but I have to steal that picture :) amazing, where do you get this stuff

ups something went wrong, I mean aldente´s bear cave pic
Last edited by Hubon on Wed Mar 20, 2013 11:57 am, edited 1 time in total.
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Re: 03/20/2013 Live Update

Postby Unique » Wed Mar 20, 2013 11:56 am

SPY dream for bulls?
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Re: 03/20/2013 Live Update

Postby Cobra » Wed Mar 20, 2013 11:58 am

kind looks like a descending triangle, so the chart is a little little bit bearish biased now.
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Re: 03/20/2013 Live Update

Postby BullBear52x » Wed Mar 20, 2013 11:59 am

Poor DBA, next dip with no new low will get another shot at buying but run up from here will be better.
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Re: 03/20/2013 Live Update

Postby BullBear52x » Wed Mar 20, 2013 12:02 pm

Unique wrote:SPY dream for bulls?

it will be hard to imagine while all TSI were under 0 line now on all futures index. until then I will suspect that there will be a will.
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Re: 03/20/2013 Live Update

Postby L_T » Wed Mar 20, 2013 12:04 pm

From Cobra's breakout list both GEO and ISIS have either triggered or about to.

EXP is strong too in the face of 3 red days from the broad markets.
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Re: 03/20/2013 Live Update

Postby Unique » Wed Mar 20, 2013 12:05 pm

Cobra wrote:kind looks like a descending triangle, so the chart is a little little bit bearish biased now.


But, the gap up could be a bullish flag though :lol:
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Re: 03/20/2013 Live Update

Postby jarbo456 » Wed Mar 20, 2013 12:06 pm

L_T wrote:From Cobra's breakout list both GEO and ISIS have either triggered or about to.

EXP is strong too in the face of 3 red days from the broad markets.


i'm in:

DAL
GEO
ISIS
KBH
S

All those have triggered for me.
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Re: 03/20/2013 Live Update

Postby BullBear52x » Wed Mar 20, 2013 12:12 pm

/ES normally with this type of sell set up, I will get 5-10 handles meal before mid night tonight on hourly chart.
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Re: 03/20/2013 Live Update

Postby toddymc » Wed Mar 20, 2013 12:14 pm

The descending triangle on SPY 5(min) looks like someone's evil plan (not mine). Me think it's scary. Like big red apple. Won't touch it.


Agreed !! Might wait for better entry tomorrow this could chop me into little bits
I'm in and out for small profit here. ..Could be a bull flag/wedge and VIX looking ready to break down...
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Will it hold?
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Re: 03/20/2013 Live Update

Postby Al_Dente » Wed Mar 20, 2013 12:17 pm

Hubon wrote:Good Morning to you, sorry but I have to steal that picture :) amazing, where do you get this stuff
ups something went wrong, I mean aldente´s bear cave pic

g-kids find stuff 4 me
here’s a steal-able link
http://imgfave.com/view/3352768

btw when u answer a post, hit the “quote” button, top right inside this box, that links it to original post
GL2u

Off topic
oil/gas stocks renko 5min
moving with every whisper from Cyprus

320dig.png
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Re: 03/20/2013 Live Update

Postby Cobra » Wed Mar 20, 2013 12:18 pm

jarbo456 wrote:
L_T wrote:From Cobra's breakout list both GEO and ISIS have either triggered or about to.

EXP is strong too in the face of 3 red days from the broad markets.


i'm in:

DAL
GEO
ISIS
KBH
S

All those have triggered for me.


Wow, congratulations!

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Re: 03/20/2013 Live Update

Postby Cobra » Wed Mar 20, 2013 12:22 pm

jarbo456 wrote:
L_T wrote:From Cobra's breakout list both GEO and ISIS have either triggered or about to.

EXP is strong too in the face of 3 red days from the broad markets.


i'm in:

DAL
GEO
ISIS
KBH
S

All those have triggered for me.



Just a reminder (I use your comment as ad), don't forget my weekly stock picks. lots of breakout this week. It's free doesn't mean it's useless. just like my live update comments are free too but you should know others would charge you for $99 every month for the same services.
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Re: 03/20/2013 Live Update

Postby jarbo456 » Wed Mar 20, 2013 12:25 pm

Cobra wrote:
jarbo456 wrote:
L_T wrote:From Cobra's breakout list both GEO and ISIS have either triggered or about to.

EXP is strong too in the face of 3 red days from the broad markets.


i'm in:

DAL
GEO
ISIS
KBH
S

All those have triggered for me.


Wow, congratulations!


Like I said the other week, I'm looking for ways to optimize your scan/filter. It's an easy thing to set up on Sunday nights, which is what I do. Once the position has been triggered, I put an ATR-basd stop loss. I put 5k to each position, and see how it rolls. I look for target exit prices based on basic measured move calculations, but ultimately make a discretionary choice based on relative strength post breakout.

Thanks for the screens buddy - keep it up!
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Re: 03/20/2013 Live Update

Postby stlwater » Wed Mar 20, 2013 12:25 pm

QIHU --- Anyone have thoughts on this stock, technical or otherwise?
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Re: 03/20/2013 Live Update

Postby Xian » Wed Mar 20, 2013 12:27 pm

Thanks Guys :mrgreen: :mrgreen:

Off to ice skating (more Daddy daughter time!)— hope to be back for the big show.

GLA!
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Re: 03/20/2013 Live Update

Postby Cobra » Wed Mar 20, 2013 12:30 pm

jarbo456 wrote:
Cobra wrote:
jarbo456 wrote:
L_T wrote:From Cobra's breakout list both GEO and ISIS have either triggered or about to.

EXP is strong too in the face of 3 red days from the broad markets.


i'm in:

DAL
GEO
ISIS
KBH
S

All those have triggered for me.


Wow, congratulations!


Like I said the other week, I'm looking for ways to optimize your scan/filter. It's an easy thing to set up on Sunday nights, which is what I do. Once the position has been triggered, I put an ATR-basd stop loss. I put 5k to each position, and see how it rolls. I look for target exit prices based on basic measured move calculations, but ultimately make a discretionary choice based on relative strength post breakout.

Thanks for the screens buddy - keep it up!



Well, you got the essence of trading those setups. one thing though, the base low is your stop loss (in theory), you don't need ATR based stop loss.

See big red comment for stop loss settings. also this will be part of members only services in the future because once people know how to trade those setups, I have to limit people who know, otherwise if everyone put the buy stop at the same place and it breaks out, it'd ruin everyone's entry.
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