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03/20/2013 Live Update

Re: 03/20/2013 Live Update

Postby Cobra » Wed Mar 20, 2013 1:10 pm

jarbo456 wrote:
I know you pick the narrow range breakout setups. I thank you for that. I do a more general filter, but your breakouts obviously have a nicer range than the automated filter results. :)

Thank you, thank you, thank you.

Please keep them free, and I hope some people use them - enough to keep you doing it, but not enough for you to make it a paid service. :D


I think you're already paid member, aren't you? so even it's not free eventually due to too many attentions, you're not affected anyway. Only better, because if it become for members only, you better I'll add more trading details...

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Re: 03/20/2013 Live Update

Postby jarbo456 » Wed Mar 20, 2013 1:12 pm

stlwater wrote:
jarbo456 wrote:
Cobra wrote:
jarbo456 wrote:
totally agree. but i'd rather use an ATR based stop which makes the stop tighter than most of those ranges. also, if you trade the range breakout then you are really going for something like a 1:2 or 1:3 risk reward ratio. if you trade with a breakdown of the low of the range, that ratio drops drastically. i'm not saying you're wrong, just saying that i'd rather get into a stock twice (maybe three times), then use the larger breakdown of the range stop price.


Trade breakdown? Breakdown would be stop loss, not a reverse trade. Do you mean if I set stop loss at base low, it'd reduce the profit?


If you put stop loss just below the base of the range it reduces the risk reward ratio of the setup.

It's the same stop loss problem we have with any trade - do we keep it wide and so we don't get shaken out as much, or do we keep it tight and avoid losing as much.



I can give you some real time feedback on this.. I was triggered into FSL... Needless to say it came within pennies of a theoretical stop loss. I'm well trapped by this little bastadge. In hindsight, I think there probably is a better stop loss placement. A genuine break-out shouldn't come back to retest the break-out area (except in those volatile stocks that love to shake traders out)... in which case maybe you filter out the more volatile symbols (I know you look for solid trending stocks).


I'm not sure you can use FSL as an example. According to my spreadsheet, I wasn't ever triggered into a position.

FSL was recommended on 3/10...and hit near the range high on 3/11 @ 16.14 (range high was 16.15). My trigger price for FSL was 16.17. Never hit, and was never a position, and according to what I was looking at, should never have been a position.
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Postby MrMiyagi » Wed Mar 20, 2013 1:15 pm

Pretty quiet on the pBar front, usually there's some chatter before FOMC blather.
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Re: 03/20/2013 Live Update

Postby Out of Bounds » Wed Mar 20, 2013 1:15 pm

Cypriots are now just pawns in a war between Germany and Russia. Geez, banks now closed until Tuesday? brutal.
...
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Re: 03/20/2013 Live Update

Postby Cobra » Wed Mar 20, 2013 1:15 pm

jarbo456 wrote:
stlwater wrote:
jarbo456 wrote:
If you put stop loss just below the base of the range it reduces the risk reward ratio of the setup.

It's the same stop loss problem we have with any trade - do we keep it wide and so we don't get shaken out as much, or do we keep it tight and avoid losing as much.



I can give you some real time feedback on this.. I was triggered into FSL... Needless to say it came within pennies of a theoretical stop loss. I'm well trapped by this little bastadge. In hindsight, I think there probably is a better stop loss placement. A genuine break-out shouldn't come back to retest the break-out area (except in those volatile stocks that love to shake traders out)... in which case maybe you filter out the more volatile symbols (I know you look for solid trending stocks).


I'm not sure you can use FSL as an example. According to my spreadsheet, I wasn't ever triggered into a position.

FSL was recommended on 3/10...and hit near the range high on 3/11 @ 16.14 (range high was 16.15). My trigger price for FSL was 16.17. Never hit, and was never a position, and according to what I was looking at, should never have been a position.


Right, FSL shouldn't be triggered at all. Wrong Buy Stop I think. Be sure to put your buy stop above the range, you cannot set it within the range, that's not trading breakout, that'd be betting your luck on breakout.
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Re: 03/20/2013 Live Update

Postby Out of Bounds » Wed Mar 20, 2013 1:19 pm

Shockingly, i have discovered that people lie about their data on stocktwits. That place is useless.
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Re: 03/20/2013 Live Update

Postby Unique » Wed Mar 20, 2013 1:19 pm

Cobra wrote: Be sure to put your buy stop above the range, you cannot set it within the range, that's not trading breakout, that'd be betting your luck on breakout.


Golden words, never front run with low probabilities
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Re: 03/20/2013 Live Update

Postby Unique » Wed Mar 20, 2013 1:20 pm

Out of Bounds wrote:Shockingly, i have discovered that people lie about their data on stocktwits. That place is useless.


Hope, you're not following that bimbo traderflorida :lol:
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Re:

Postby jademann » Wed Mar 20, 2013 1:21 pm

MrMiyagi wrote:Pretty quiet on the pBar front, usually there's some chatter before FOMC blather.


MrM, where would we see the pbars? Is it on broker quote?
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Re: 03/20/2013 Live Update

Postby stlwater » Wed Mar 20, 2013 1:25 pm

jarbo456 wrote:FSL was recommended on 3/10...and hit near the range high on 3/11 @ 16.14 (range high was 16.15). My trigger price for FSL was 16.17. Never hit, and was never a position, and according to what I was looking at, should never have been a position.


That's true, but I was triggered in on March 7th. This was one of my scans before it appeared on Cobra, HAS is another I am looking at currently. I agree, based on Cobra's listing of this stock there would have been no trigger from that day forward.. Not sure what his criteria is for a base.. Could be that he requires more days in range than my scan?
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Re: 03/20/2013 Live Update

Postby Claudio.dicorato » Wed Mar 20, 2013 1:27 pm

Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?
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Re: 03/20/2013 Live Update

Postby Al_Dente » Wed Mar 20, 2013 1:28 pm

srsly this stuff gets my vote: https://stockcharts.com/public/1684859
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Re: 03/20/2013 Live Update

Postby Unique » Wed Mar 20, 2013 1:29 pm

BullBear52x wrote:
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.


Come on Fed, show me the money!!!!
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Re: 03/20/2013 Live Update

Postby uempel » Wed Mar 20, 2013 1:30 pm

Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?


Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows :mrgreen:
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Re: 03/20/2013 Live Update

Postby nightlyhawk » Wed Mar 20, 2013 1:33 pm

uempel wrote:
Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?


Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows :mrgreen:


One of my ST indicators show a big drop in any minute. Anyone dares to short? Not me as I don't take risky trades. :D
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Postby MrMiyagi » Wed Mar 20, 2013 1:35 pm

jademann wrote:MrM, where would we see the pbars? Is it on broker quote?


TD Waterhouse platform
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Re: 03/20/2013 Live Update

Postby TraderGirl » Wed Mar 20, 2013 1:36 pm

Check out how SPY has been bouncing off these channel lines..sitting right above the top channel...
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Re: 03/20/2013 Live Update

Postby TraderGirl » Wed Mar 20, 2013 1:37 pm

uempel wrote:
Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?


Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows :mrgreen:

:D :D :D
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Re: 03/20/2013 Live Update

Postby Unique » Wed Mar 20, 2013 1:37 pm

uempel wrote:
Claudio.dicorato wrote:Hi cobra you Think we could go to 1565 with FeD announcment ? But after all we could go to New short term pullback?


Claudio, now why should Cobra know? In such a situation anything can happen, anything. Not even God knows :mrgreen:


Obviously, because there's no such thing as God :lol:
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Re: 03/20/2013 Live Update

Postby Claudio.dicorato » Wed Mar 20, 2013 1:41 pm

Cobra is a god!! :-)
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