tag:blogger.com,1999:blog-9459815.post2803395682508830776..comments2023-07-03T06:33:52.478-04:00Comments on Trader-X...views from a distorted mind.: TRMS - 041807; 15-minute chartTrader-Xhttp://www.blogger.com/profile/15148372813905710453noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-9459815.post-3152128761834521562007-04-19T16:02:00.000-04:002007-04-19T16:02:00.000-04:00I also passed up these stocks, along with SMSI (wh...I also passed up these stocks, along with SMSI (which was a great X short in retrospect--break of 13th bar low on 15 min chart) due to the choppiness of the first few bars or so, along with crazy wide bars with big tails, etc.<BR/><BR/>I guess the moral of the story to me is this: A strong closing candle, either crossing important support or showing a reversal pattern, is the most important factor in a setup. The 5-ema support is a close second. The other factors like wide range bars, below the OR High/Low etc. are warning signs, but not reason enough to write off a good setup. Just manage the risk and go for it if the other pieces are there. Don't write off a stock just because it does something weird during the day. A good setup might appear later on, like in SMSI. That's my takeaway.Prospectushttps://www.blogger.com/profile/04015439430885405767noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-88941213380884180492007-04-19T13:07:00.000-04:002007-04-19T13:07:00.000-04:00I think entering a wide-range bar is just like ent...I think entering a wide-range bar is just like entering below the OR high - there is more risk, but you can do it if you handle the risk properly.<BR/><BR/>If the stock has a history of wide-range bars and the pattern looks good, I will take the increased risk.<BR/><BR/>At the same time X is right when he says a really wide-range 1st bar runs the risk of having made the entire move, and the stock may move sideways the rest of the day.<BR/><BR/>Tom C.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-47748314070359976742007-04-19T10:11:00.000-04:002007-04-19T10:11:00.000-04:00I am allowing more wide-range bars after reading s...I am allowing more wide-range bars after reading some of Jamie's stuff. I still watch them in general, as I agree with X that it indicates the stock "shot its load" in the 1st bar.<BR/><BR/>Saying that, when I look back at TRMS price action, it has a tendency towards wide-range bars. That makes a difference too.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-80728393766518782322007-04-19T01:06:00.000-04:002007-04-19T01:06:00.000-04:00X,I took TRMS off my list this morning because of ...X,<BR/>I took TRMS off my list this morning because of the range of the first bar. (Same with OSG actually :-) )<BR/><BR/>Are you still avoiding wide range first bars ?<BR/><BR/>There was a huge volume surge on this stock, does it validate the wide range ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-79163606221366203112007-04-18T17:30:00.000-04:002007-04-18T17:30:00.000-04:00ISIL was like the old bread and butter set-up you ...ISIL was like the old bread and butter set-up you used to trade. I know you don't trade it much anymore, but this one worked for me.Anonymousnoreply@blogger.com