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Tags:
Trader-X, Stocks, Fibonacci, ATMI, CHH
Trading Without Drama
4 days ago
Wednesday, April 26, 2006
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TRADEthemove.com
meditationSHIFT
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> around 2,200 subscribers by feedburner
> over 200 via email by feedblitz
> 67 by carrier-pigeon
> and 2.4 million people visited the site yesterday alone (give or take 2.397 million)
contact me if you are interested in detailed stats.
6 comments:
Tom,
I saw CHH, but decided not to take the bite even though the setup was textbook. I was hesitant, because of the low volume of the stock (around 100k by the end of the 2nd bar). Volume-wise, how low are you willing to go before you feel that there's not enough liquidity, in case something goes awry and you need to exit ASAP?
Sorry, forgot to ask this question to my previous comment.
Tom,
One of my biggest weakness is exiting at the first sign of trouble. A lot of times I would exit on a weak bar only to see it hit the extension near the end of the day.
In the example of CCH, I think I would have definetely exited at the end of the 3rd consective down bar. What made you decide to duke it out and wait?
Thanks again!
posted by Tom C:
I look at the spread on the bid and ask to see if it is too wide to let me exit...and I look at the trades going off to see what size. I have a problem every now and then, but not usually. It is the cost of doing business!
Tom C:
re: exits...it just comes with experience. With CHH, I saw it as a normal pullback from the highs. I had some profit, so I was willing to give it some room. I don't know that is a good answer, but it really is just experience.
Tom/Traderx - Just a general question regarding entries; do you guys generally enter on stop orders a tick or two above the 2nd/3rd bar high/low, or prefer to manually fire orders? I'm sure this comes with practice, but I feel completely disorganized when looking at 10+ potential prospects just as the 3rd/4th bar begin to open, especially since the strongest stocks tend to all fire through the opening range at the same time. Thanks, love the blog!
posted by Tom C:
re: orders - I do a mixture of both orders - stop market and market. It just depends on my time and what I am looking at...I don't have any hard and fast rules.
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