Groundhog day. Groundhog's Day. Groundhog Day?
I will be trading today, so look for a chart or two over the weekend. Finish the week strong!
And, there are some good comments on Tom C's last post discussing exits and other topics. Check it out.
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trader-x
Friday, February 02, 2007
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6 comments:
lol
Another Joe Cartoon fan.
Dear all, I´m in my first 15 days of trading and struggling to handle properly so many factors. I´ll appreciate very much whatever comments you may have on the following:
- Anything you see in ERIC, 10th 15min bar that says this was not a setup, or one to take? (it reversed promptly and the 12th bar took my stop. Is it standard to leave after such a strong pullback in bar 11 even though it didn´t break through the ORL?).
Others I entered today were:
- WCC (such a strong hammer on third 15min bar with EMA support, good for $1)
- WEBX (break of 4th 15min bar, only that I left during the 7th bar for no real reason...)
- UA (break of fifth 30min bar or 10th 15min bar-probably the 3rd 15min bar was better to you, I had not seen it). Stock reached the FE. Still my stop was based on the 15 min, not the 30 min entry bar, and you can guess, out! When formations like bars 12, 13, 14, 15 in a 15min chart appear do you have the temper to rely on the EMA and wait to see a turn around?
- Another thing is, do you pay attention to what happens with other stocks in similar positions at the same time? I mean I have noticed and wonder why that a bunch of stocks I look at suddenly move during the bar in exactly the same way. It is like a general breathing thing. So if you are holding a position on stock A and you see a similar graph or graphs -stock B-, moving at the same rythm, and it suddenly throws a hughe bar opposed to your goal, do you leave your position or you don´t mind?
So, I ended up negative, but were these good setups to you to start with? Thanks to anybody who can provide some insight and a Good weekend to you all!
That is hilarious when he picks that guy off at the end.
I think I've seen this before.
My dear X,
Thank you for the wonderful roses you sent in celebration of Groundhog's Day. Very thoughtful of you!
I spent the day over at Esto's watching the movie and appreciating Bill Murray's comedic talents. It was enjoyable, but you were sorely missed. ;)
By the way, did he see his shadow today?
ERIC - the 10th bar closed at the OR low, but not below it. It seems like a minor distinction, but that area is support and if you are shorting before it decisively breaks, you stand the risk of it reversing. That next bar printed a textbook hammer, so if you were in it was a sign to look for an exit, which was confirmed a few bars later when price closed back above the 5MA.
I only had a chance to glance at the others - I will look in more detail later. But I will say that WEBX and UA are not stocks I would be watching - the gap was very small, and there was no "white space". Neither would have been on my list.
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