StockFetcher Forums · General Discussion · Profitable<< 1 2 3 4 5 >>Post Follow-up
EWZuber
1,373 posts
msg #39924
Ignore EWZuber
1/4/2006 8:49:49 AM

alf, no you're not. You don't understand what I'm doing thats obvious from your posts. Your comments are off topic and irrelevant to what I do.


alf44
2,025 posts
msg #39925
Ignore alf44
1/4/2006 10:41:28 AM

EW,

And...YOU...don't understand what I'M DOING...and THAT'S OBVIOUS from YOUR posts !

AND...AND...YOUR comments are IRRELEVANT to what I DO !

YAY-YAY...YAY YAY YAY !!! LOL


Look..."FUNNY-MENTALS are meaningless to a SHORT-TERM trader" !

That's all I said from the very beginning of this thread...and...I will stand by that till my dying breath !

Everything that can be known is IN THE CHART...and IN THE PRICE ACTION !

Stop wasting your time with all that "fundie bullpoopie" !!! ROFL


Good luck to you,

alf44





EWZuber
1,373 posts
msg #39926
Ignore EWZuber
1/4/2006 11:27:42 AM

Don't try to tell me what to do. Who do you think you are? I'm not going to let you waste my time with childish antics like copying what I say. How old are you? Never mind, don't bother answering. You are perminently ignored.



EWZuber
1,373 posts
msg #39927
Ignore EWZuber
1/4/2006 11:51:34 AM

nikoschopen
I have re-posted what I laid out on the NTRI thread. When I am talking about long term charts and their relevance that is but one small part of my approach to trading.

"....When the position is first entered (I like to enter any position using daytrading techniques) I will enter it using the 5 minute or 1 Hour Charts. A supporting trendline is immediately created. If the 5 minute chart trendline support (TLS) or pattern support holds for 2 hours then I now have a supporting trendline on the Hourly Chart...."

*Note, if the 5 minute chart pattern support is violated then the position is closed. However if it isn't violated after 2 hours I move to the hourly Chart. If the Hourly Chart pattern support is violated then the position is closed and so on. So you see the conclusion that you drew that one needs to be willing to hold on to positions underwater was not correct. If the stock is strong and under institutional accumulation then pattern support will hold up and the position will mature naturally. The post continues as follows;

"....If that holds as support for two days then I will have a TLS or pattern support on the Daily Chart. If that holds for two weeks I now have a TLS or pattern support on the Weekly Chart. This can be extended on to Monthly Charts, etc. This way the position can mature while maintaining a money managmnent discipline. It is not buy and hold. So it won't matter if the fundamentals are believable or not because I'm using the same technical discipline to enter and exit the position as I would for a purely technical play. The fundamentals just add momentum to your position."


alf44
2,025 posts
msg #39928
Ignore alf44
1/4/2006 12:58:44 PM

EW...as for my age...I'm prolly old enough to be your Father !

And...like I said before...

Good luck to you !!!


Regards,

alf44




nikoschopen
2,824 posts
msg #39957
Ignore nikoschopen
1/5/2006 2:35:54 AM

EWZ,

Thanks for bringing that to my attention. I find your strategy amusing (no offense meant) since it's in exact reverse order as mine. Before I plunge into make my killing, I look at the secular trend, followed by daily, 60-min, 15-min, 5-min charts. When it comes to bailing out of already established position, I tend to use either the major support/resistance or the trendline. This naturally brings me back to your claim that if the support or resistance holds on the short term chart, then you move up sequentially to the next higher time frame. I find this somewhat unintuitive. Whether I'm looking at a 5-min chart or a 60-min chart, any demarcation of major support or resistance will be clearly visible. If what you say is true to the extent that you actively follow it, then with each passing of the day your holding period will also increase exponentially. Hence, you would likely to get rid of ABC with a tight stop should it violate the threshold on day 1, but were you to


nikoschopen
2,824 posts
msg #39958
Ignore nikoschopen
1/5/2006 2:56:33 AM

Sorry, here's a more complete post...

EWZ,

Thanks for bringing that to my attention. I find your strategy amusing (no offense meant) since it's in exact reverse order as mine. Before I plunge into make my killing, I first look at the secular trend, followed by daily, 60-min, 15-min, 5-min charts. When it comes to bailing out of already established position, I tend to use either the major support/resistance or the trendline.

This naturally brings me back to your claim that if the support or resistance holds on a shorter term chart, then you move up sequentially to the next higher time frame. I find this somewhat unintuitive. Whether I'm looking at a 5-min chart or a 60-min chart, any demarcation of major support or resistance will be clearly visible. If what you say is true to the extent that you actively follow it, then with each passing of the day your holding period will also increase exponentially. Hence, you would likely to get rid of the stock ABC with a very tight stop should it violate the threshold on day 1, but were you to get rid of XYZ on day 30 of your purchase your potential loss would be greater because now you're relying solely on the daily chart.

Perhaps I've missed the nuance of your argument, yet you seemed to have left such an argument to be begged for more questions if not answers. I welcome your reply.


EWZuber
1,373 posts
msg #39974
Ignore EWZuber
1/5/2006 12:00:08 PM

You are correct the process is not intuitive as intuition involves the act or faculty of knowing or sensing without the use of rational processes. So by that definition my system is pretty much mechanical rather than intuitive and I try to stick with this mechanical discipline as closely as possible.

One of the main differences in our posts is that mine began with the actual entry where yours began with the screening process. This is a very important delineation and I believe it accounts for the conclusion that you drew that our systems were 180 degrees opposed.
Had I posted how I find a potential candidate I would tell you that I first look at long term charts and move to the shorter term to find the actual entry. Actually identical to that part of your system.
The exit system I posted was for positions that are intended to be held for long periods with a minimum of maintenance.


nikoschopen
2,824 posts
msg #39981
Ignore nikoschopen
1/5/2006 2:04:08 PM

EWZ,

Thanks for the clarification. Being a sniper trader with a pure motive for quick profit, perhaps my greed prohibited me from reading your previous post in a proper light -- be it intuitive or not. On a side note, I should like to reiterate the all too familiar refrain from this side of daytraders: not all stocks advance or plunge in a linear fashion. What goes up must come down, so I'm told, but certain idiotic stocks does all that within a day...and then some more. So my question to you is, would it not make more sense to enter and exit with perhaps smaller profit then to sit out the pendulum of less emotional toll (after all aren't we just all-too-human)?


EWZuber
1,373 posts
msg #39983
Ignore EWZuber
1/5/2006 4:08:13 PM

nikoschopen,my post wasn't intended as the ultimate way to make money in the market. It is simply another way to trade for someone who doesn't want to be bothered with everyday maintenance of a position.
As I have said before, I am a daytrader at heart,however I don't have the capitol necessary to do it on a daily basis as it would trigger the 'pattern daytrader rule' and they would freeze my account.



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