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Mentoring: The Key to Developing as a Trader
6 days ago
Tuesday, April 10, 2012
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Following up on yesterday's post, this graph is simply amazing. Under 10 employees and 30 million users. New world.
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9 comments:
Is anyone still trading reversion to the mean trades? I've had some luck yesterday with HOGS and today with VPHM, both on the 15-minute charts. Would like to see/discuss more of these if others are trading them.
Gene, probably more like 2-3 split 7 billion, the rest split the remaining. Not a bad payday though.
Brian, be careful trading rtm on 15-minute! 30-minute is tough, but 15-minute would almost be suicide in my opinion.
With these big down days I've had some luck with Tom C's u-turn trades. I can't remember specifics right now as I'm not trading today and don't have my trading info with me, but I had several good trades I'll post later tonight.
Wed $2-10 WL: AMSC 2/5min IB doji break for .07. With patience could have let it ride as never closed below 2bar, or re entry 5/10min IB. Nice 5 10 15 charts. I only use candles/fibs, and just today's chart(for the most part)
Is anybody trading on the short side, or is everybody mostly long and sitting on the side during the big down days?
Thom, ILMN today. Short on a break of the 6th bar low. Nice short.
-Tim
ASML was a nice setup today - 15 minute chart, Fibs over the first 4 bars (morning range). Entry was a break of the 6th bar high. 6th bar was a perfect hammer. Sold at the Fib extension, then had a second entry on a break of the 9th bar high - exited at $49.50.
ASML was a nice trade Terry!
Berry
Still finding longs even on the down days. Don't think this is a u-turn, so not sure what to call it. But here are the details:
LNKD, 15-min
Fibs over the first two bars. Price rallied, collapsed, bounced off the lower Fib extension, rallied.
I entered on a break of the 13th bar's high (as it cost the 50% level) and rode it to the upper Fib extension.
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