I am glad my England trip was last month, or I would be in a world of hurt right now.
On the bright side, way to go UK authorities for stopping this plot!!!
Despite some crazy action, I am not finding a lot of opportunity today. I am in a few positions, but nothing spectacular. Hopefully you are having a good day - if so, post your trades in "Comments".
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Tags:
Trader-X, Stocks, Fibonacci, Trading
12 comments:
RIMM on the third breaking hammer at $69.90. RIMM has gone way beyond the Fib extention I am out at $73.34 as I right this. Only could afford to hold 350 shares but this is my best trade of the week now on .46 cents risk. That a 7.4:1 risk reward ratio...much better than I expected.
You guys are great!!!!
Nice trade Kayak - I completely missed that. Did not even have it on my watchlist. Very nice!
Did not find many opportunities either.
Stopped out on DT short. Entered on 3rd bar break (15min)
Nice trade Kayak. 7.4 to 1 is fantastic. A guy could end up rich that way. :-)
Short BA on 0945 doji @ 75.95
Covered @ 75.55, a quick scalp.
It makes me very happy to see great trades like kayakhandy's today! Much credit goes out to Trader-X and Tom C. for making this possible and selfishly improving the trading of many, many people. Again, great trade kayak!
estocastica
Kayak, nice trade, but out of curiousity, how RIMM end up on your radar for the day? or is it a stock you check daily?
ASEI was wonderful for me today. Went long on the break of 2nd bar high (15 min) and then again after consolidation on fibb ext.
Thoughts?
John, what was your rationale for shorting? I don't see much of a set-up. The first bar and even the 4th were kind of doji-ish, which is indecisive. And, as you pointed out the first bar was really wide-range. Just curious as to your thoughts on why you shorted.
Hi Dan, I already had my watch list and RIMM was not on it... but I was also watching a real time ticker of stocks that had building volume and larger numbers of trades that were unusual and RIMM kept repeating over and over again for a couple of minutes then it would slow down and then pick up more trades like crazy again to the upside for a few more minutes so I thought it was worth watching for a while...it looked great on the 15 min. and the 30 min. as the day progressed.
Thanks for the Kudos guys but X deserves all the credit...all I did was follow.
hmm, thanks for the reply kayak.
I just have a problem with my watchlist, they all just seem to be flat, or very eradic.
What tool do you use to catch stocks which "had building volume and larger numbers of trades that were unusual"?
John, Here is my feeling on getting stoppped out or whipsawed only to see your position turn your way after you get knocked out.
I have noticed that with a volitile choppy market like we are in and with regards to taking short positions you must set your stops a little looser to not get whipsawed so easy. This is counter intuative(SP) because in a volitile market it would be normal to tighten the stops but I have noticed that when it comes to short positions a slightly loose stop is better as long as you feel confident about your position. That Imclone trade could have been Golden!
Kayak
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