StockFetcher Forums · General Discussion · NEVER LOSE AGAIN!!<< 1 ... 38 39 40 41 42 ... 102 >>Post Follow-up
johnsund
16 posts
msg #70202
Ignore johnsund
12/30/2008 4:10:58 PM

TRO -

I assume from your comment on the last post of the chart that you would have made the downtrending trade that began at about 10:23 as price entered the first red line on a red candle at about 87.32, and then would have ridden the price down to about 84.90 or so.

Since price did not fill the gap (from open to prior close) until later in this series of candles, is this one of those times that you know from experience that since price got very close to filling the gap, but did not, that that was good enough and you entered the trade any way? This is the point I am still stuck on. For us newbies, MUST the gap be filled prior to any trades other than Fading the Gap at the open? Or are there times when close is good enough?

Thanks for your patience!!!

JS

TheRumpledOne
6,358 posts
msg #70209
Ignore TheRumpledOne
modified
12/30/2008 5:46:34 PM

"For us newbies, MUST the gap be filled prior to any trades other than Fading the Gap at the open? Or are there times when close is good enough?"


AAPL gapped UP. So you can only go SHORT until the gap fills.

There were only SHORT trades on AAPL today.

Close is NOT good enough.

Does that answer your question?





johnsund
16 posts
msg #70210
Ignore johnsund
12/30/2008 7:03:07 PM

As you well know I am struggling to "see" as you do, and therefore my question has not been clearly answered.

I am looking at the 1 minute AAPL chart from today. I see the gap up at the open. As the red candle drops into the red buyzone ( - .10) from the open it is a buy signal to go short. That carries into the 2nd minute where one would probably get out, or if you have the experience to anticipate what might happen, you might stay in the short trade until the 6th minute and then exit. Whatever.

Your answer was, "There are only SHORT trades on AAPL today."

What is confusing to me is the word "trades", indicating there is more than one. If the rule about the closing the gap should not be violated, then I see just one legitimate trade today - the Fade the Gap trade at the opening as described above. After that, while the gap did fill at about 10:49, from then until closing no red or green candle entered or exited the buy zone.

So, not to beat a dead horse (me????) is there more than one legitimate trade today that does not violate the fill the gap rule? If so what is it?

Thanks for your patience!!!

JS

SFMc01
272 posts
msg #70217
Ignore SFMc01
12/31/2008 7:42:09 AM

TRO: I love the concept of trading only one stock ... in this case APPL ... but, honestly, I don't have a comfortable feeling of when to initiate the trade or when to get out.

Respectfully, using your posted chart of Appl for 12/29/08, at what time would you have sold short and when would you have BoughtToCover? Notice that Appl initially went up .. not down then turned down and decreased past the Open of the day ... turned back up again ... and eventually filled the gap. I would have probably been very uncertain about when to get out.

Would you kindly share some of the thoughts you had as you were watching Appl on that day?

Thanks ... Steve

TheRumpledOne
6,358 posts
msg #70236
Ignore TheRumpledOne
12/31/2008 10:12:15 AM

Traders, don't complicate this!!

IT IS SIMPLE!!

If AAPL GAPS UP, then you SHORT everytime AAPL enters the SHORT ZONE from ABOVE. ( If price moves UP into the SHORT ZONE, you just wait.)

You take whatever profit you can get. Sometimes, nickels and dimes. Sometimes, quarters and dollars.

After the gap fills. THEN AND ONLY THEN can you use both the LONG and SHORT triggers.



mjg300
8 posts
msg #70237
Ignore mjg300
modified
12/31/2008 10:20:27 AM

Shorted SRS at 9:57 this morning for a quick thousand dollars in 11 minutes using the Buy Zone - Milk The Cow method.

This IS simple stuff, you just gotta be ready at the trigger and get what you can and not dawdle around waiting for more.

Thanks TRO!

...btw, SRS is a MONSTER...be careful out there!

TheRumpledOne
6,358 posts
msg #70238
Ignore TheRumpledOne
12/31/2008 10:22:56 AM

Image and video hosting by TinyPic

AAPL GAPPED DOWN ... that means LONG TRADES ONLY until gap fills.

Price entered BUY ZONE at OPEN + .10 - GO LONG

Take profit when you can.

AAPL filled the GAP, so now you can go SHORT if price enters the SHORT ZONE at OPEN - .10

That's all there is to it.

SIMPLE.



TheRumpledOne
6,358 posts
msg #70239
Ignore TheRumpledOne
modified
12/31/2008 10:24:57 AM

Image and video hosting by TinyPic

Image and video hosting by TinyPic

mjg300:

SRS is a COW!!

Nice find, nice trading.

Perhaps you can answer the others' questions since you seem to understand.

Thanks.



TheRumpledOne
6,358 posts
msg #70240
Ignore TheRumpledOne
12/31/2008 10:34:34 AM

Image and video hosting by TinyPic

RIMM GAPPED UP - SO ONLY SHORT TRADES UNTIL GAP FILLS.

PRICE NEVER TOUCHED SHORT TRIGGER - SO NO TRADE YET

mjg300
8 posts
msg #70241
Ignore mjg300
modified
12/31/2008 10:35:25 AM

Nice TEACHING, TRO.

Thanks again, for a truly stunningly SIMPLE trading method.


Mike


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