posted by Tom C:
I lost on DSCO - I bought a break of the 2nd bar high and I was quickly stopped out. But, I more than made up for it with ZRAN which was a rocket. I will post a chart tonight - post your trades in the comments and have a good day!
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Tags:
Trader-X, Stocks, Fibonacci, DSCO, ZRAN
Mentoring: The Key to Developing as a Trader
3 days ago
15 comments:
dsco was dissapointing. but, dovp was similar and worked out...nice zran.
X...you are human......you finaly showed a loosing trade.....I wondered if you were an automated system......LOL, keep up the good work..
JBLU above the Fib extension. The X classic!
Also like DSCO, CVC worked well.
Good trades. DSCO was a good set-up that didn't work, but I would take it again tomorrow. And Cramer is getting richer today - TSCM up and like JBLU mentioned earlier presented a set-up above the Fibonacci extension and a good .50 move.
posted by Tom C:
5150 - actually that was me (Tom C.), not X with the losing trade (though X said he would have taken it...)
Look through the blog and you will find a handful of losers. But, having seen him trade I can honestly say he does not lose a lot. He scratches his share, but doesn't lose much. That is beause he does not overtrade, and he focuses on high quality set-ups. Something he constantly harps on here.
Anyway, I am not as selective and tend to overtrade, so I have losers more often. But as long as I can get a ZRAN every few days I am happy.
Short CNET with about .30 profit, hoping it breaks down in the next hour.
Tom, where did you enter on ZRAN? Break of the 2nd or 3rd bar?
posted by Tom C:
Dave C. - a break of the 2nd bar high, though a break of the 3rd bar high was also a valid set-up on top of the or high.
Tom C:
Good job on CNET Sam...hope you sold into that drop.
A quick hit as TX would say, DECK on a break of the 2nd bar high.
Volume...how does one figure the volume cutoff? greater than 30 davg normal vol in the first 1/2 hour? some of these gappers have an day avg of say 200,000-250,000 but by the eod they're way above a million.
posted by Tom C:
re: volume - I don't consider average daily, I just look at that day's volume. I sort my list by volume and tend to focus on those candidates at the top (with the most).
re: trading against the gap - I have never analyzed how often I do it...as long as a set-up is valid, I don't care much about whether I am trading with or against.
Tom C.
Volume: Do you sort it premkt or after the open...say 15 min or 30 min or...?
Thanks
posted by Tom C:
I don't look at pre-market volume. My list updates automatically, so it is always current. I only look at volume once the market opens.
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