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trader-x, stocks, trading
The Psychology of Handling Large Drawdowns
6 days ago
Friday, March 16, 2007
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5 comments:
Found HEPH this morning gapping with huge volume. Didn't find anything else today so this trade was my only trade.
HEPH 15M/2B (hammer @ OR HI)
Exit: 1/2 @ 138 FIB other 1/2 @ fill of gap of 3/7 LO
I know many don't trade on options expiration day but I have found there is never a lack of opportunity on those days.
Hope all traded well today.
A timely post for me today. Had a profit and let it turn into a big loss. Still paper trading, so not devastating!
Trader X, when screening your watch list, do you take todays vol or the average 3 months vol. I have noticed that the low vol. stocks are most often then not the ones that I lose money on.
Trader J (sorry, need to register to get an account with Google).
ZOLT worked if you got in at the right time.
there were a few others that only worked halfway, but you started getting out at the normal resistance points.
I saw SBUX in the morning, i wanted to play it but nothing really got me into it. it just kept going up :(.
what happened to the volatile markets of tues/wed?
HEPH good trade J! SBUX 1/30 break stalled at .5fib level, and 10/15 break, stalled. Sold for slight gains. Paper traded ZOLT 10/15 break and DXPE 13/15 break. Naz stocks >$2.5 >50k vol >3% gap at 5 min into the open: HEPTH TUNE SBUX PSUN LEND MITI ZOLT CORS TRMS. Alot of stocks that rallied from the open with little or no gaps. Bearish/indicision tone keeps the lid on the number of setups that work me thinks. Finding my way and it feels wonderful. KISS
Thanks bl.
Not sure how you have your charts setup but something that may help you stay out of trouble is to have a 15M and a 30M chart side by side.
If you make a play off the 15M make sure the 30M EMA is very close if not touching. I avoid many losers that way. Many times if the 30M EMA is a bit aways from price and 15M looks ok price will usually retrace and give you an even better setup.
There is one exception that I do make with that rule. If price has gapped and is @ 52wk hi/lo with massive volume (intraday volume ratio to daily avg. volume is very high) then having the 30M EMA very close is not always necessary since momentum takes over regardless of EMA. X's TRMS trade is an example of that exception.
Hope this helps.
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