posted by Tom C:
I got a "quick hit" (as Trader-X would say) in SOLD this morning (nice % gain).
Post your thoughts and trades, and have a good day trading.
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4 days ago
Wednesday, May 10, 2006
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14 comments:
Got in on SOLD on the 2nd bar (nice quick), but my trade of the day was V, break of the second bar high. The stop was only 9cents wide, so I was able to really load up!
Good trading everyone!
Nice trade. TJ
Nice one Tom C.
I just see MFLX on 30 min chart...break of the 2nd bar low
What do you thimk?
Thanks for this great blog
I think you have to change your name from losertrader...you are what you think, and that is bad.
Ok...I was joking :)
posted by Tom C:
lol - but, Chris is right...you are what you think.
MFLX is kind of stalled but a good entry. Just watch your stop as things may get volatile this afternoon.
I didn't get the trade because I can't short it. I just wanted to point the setup on 30 min chart, now you undestand my frustration when I wrote the name? :)
What would be the target for this short?
Thanks for your work Dave C. and Trader-X, and for the advice Chris
ex-loser - what broker? I shorted a break of the third bar low (third bar closed just below the opening range low)...I sold at the halfway point between the opening range low and fibonacci ext.
decent trade, but took a while.
Nice trade Charles. D
Didn't reach the Fibonacci extension, but Trader-X posted some similar trades that stalls on the halfway.
I use IB, and this week I was unable to short MFLX and ESCL.
Hey Dave C,
Great trade on SOLD. Did you do a round trip on it-long/short- like the stock a few weeks ago? Ready for a 3peat?!
Losertrader,
If you haven't read Dr A Elder's Trading for a Living, you might want to as he talks about the "loser" attitude-don't know if you think that anyway- and how one can use it it a positive way.
BL
X, Dave C,
2 questions: 1)is your gap list based on most %(5%) up/down, and or most up, and 2) is it premarket only or do you add after the open too up to what 1 hour or so? Thanks,
Great education and slow but sure.
posted by Tom C:
usually i take the gaps of at least 5%- i also look for gaps with a lot of white space between the previous close and today's open.
i will add to the list if i see a stock that fits the bill not already on my list - but, i don't actively look for stocks to add...i just stumble across one every now and then...
BL,
In hindsight, I wish I had gone long and short. I just couldn't find a good narrow entry point for the short on the way down.
Anonymous:
What Tom C said, although I usually don't add anything to my watchlist before the open. Since I trade the second bar and up, I usually compile my watchlist during the first 10 minutes of the open.
Hope that helps.
What a chopping trading day today (Thursday)!
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