StockFetcher Forums · General Discussion · SWING TRADING<< 1 ... 4 5 6 7 8 ... 12 >>Post Follow-up
welliott111
98 posts
msg #57421
Ignore welliott111
12/2/2007 9:34:09 PM

It is not my intention to stir an argument over right or wrong. Who's to say what is the right or wrong way to make a profit? There is no ONE way to profit from the market, there are many. As luc1grunt said previously, "Individual style is a beautiful thing". It just makes more sense to me that if the same stocks are performing the same way consistently, 80 -90% of the time, can you lower risk any more than that?

curmudgeon
103 posts
msg #57424
Ignore curmudgeon
modified
12/2/2007 10:00:14 PM

"can you lower risk any more than that?"

You can lower risk on your entry point.

Dunno about you but if I'm dropping $187,000 on 1000 shares of AAPL I don't want to see an immediate drawdown if I can avoid it in a scalp.

To me there is a huge difference in risk management between buying at an arbitrary point in space like the open and buying at a point that has predetermined managed risk.

TheRumpledOne
6,358 posts
msg #57425
Ignore TheRumpledOne
12/2/2007 11:16:23 PM

I think you guys who are debating moving averages are missing the point, BIGTIME.

The price on stocks like AAPL and RIMM "must" range. The range is usually over $1.

That range is HIGH - LOW. That range can also be expressed as HIGH - OPEN + OPEN - LOW.

By trading at/near the open price I have a FIXED TARGET. It is easier to hit a FIXED target than a MOVING target.

By keeping my entry triggers in a fixed location, I let the PRICE "TREND" come to me... it is THAT SIMPLE.

Every day, every run must pass through my BUY ZONE. Either I catch it or I don't. But EVERY run goes from either OPEN TO HIGH or OPEN TO LOW and THAT'S A FACT. The only question is how long one decides to stay in the trade.

What's funny is this debate should NOT be in the SWING TRADING thread!! But, oh well... here it is...lol




TheRumpledOne
6,358 posts
msg #57426
Ignore TheRumpledOne
12/2/2007 11:20:30 PM

"Why not just make ure calls public by posting them live here at StockFetcher instead? I know that you don't trade that much so this shouldn't be too cumbersome for you. Plus, this way we can all benefit from ure insight."

I give you my calls right now:

USE 5 MINUTE INTERVAL CHART FOR AAPL AND RIMM

IF CANDLE IS GREEN, GO LONG AT OPEN + .10

IF CANDLE IS RED, GO SHORT AT OPEN - .10

That's it... you have my calls in advance.

The calls will not change.

There's no need for me to post them again and again and again not to mention, by the time I post them and you read them the trade is GONE!



curmudgeon
103 posts
msg #57438
Ignore curmudgeon
12/3/2007 11:12:24 AM

Hehe. I got the moving average idea from you man. Remember back in the TS forum with the 3 line crossovers?

That was a pivotal time for me. Between you and Rev Shark I finally got the idea pounded into my head "TRADE WHATS IN FRONT OF YOU".

You may very well be on to something here, and I must admit it is alluring to scalp your way to riches but I just can't wrap my head around risking large amounts of money in random points in space to make a hundred bucks.

TheRumpledOne
6,358 posts
msg #57439
Ignore TheRumpledOne
12/3/2007 11:21:28 AM

LOL... the points are NOT RANDOM at all.

They are STATISTICALLY SIGNIGFICANT price levels.

But, use what WORKS FOR YOU.



EWZuber
1,373 posts
msg #57441
Ignore EWZuber
12/3/2007 11:24:49 AM

TRO, the name of the thread is Swing Trading, not Day Trading.
No need to be rude dude.

curmudgeon
103 posts
msg #57443
Ignore curmudgeon
12/3/2007 11:36:17 AM

"STATISTICALLY SIGNIGFICANT"

Death by a thousand cuts is also statistically significant ;)

Seriously. I'm sitting here looking at charts and I completely understand what you're saying but I can't see anything but being completely confused all the time. Up, down, up, down. It would take a special kind of personality to trade this way. Not me.

Swing trading is more my thang. Squeezing as much out of a rally as possible; staying on trend but ready to bail; buy low sell high.

mrbobolina
19 posts
msg #57461
Ignore mrbobolina
12/3/2007 4:14:04 PM

TRO...please check your hotmail email account.

Thanks

alf44
2,025 posts
msg #57493
Ignore alf44
modified
12/3/2007 10:06:25 PM

TRO...not saying I'm prepared to just hand you over the ...

...The Keys To The Kingdom...

...not YET anyway...NOT by a long shot !!!

But, I'm certainly not going to sit here and say that a simple approach like your "Buy/Sell near the Open / Buy/Sell near the Opening Price" trading strategy doesn't have merit...as some here seem to be too quick and too eager to do.

The "strategy" is really NOT that different than strategies I've seen in the past (AND that I have even traded myself) involving Daily Pivot (and the related Support/Resistance levels). Not unlike the "OPEN"...these "Pivots" are ALSO "fixed targets" as oppossed to "squiggly lines" and the like.

Needless to say...Floor Traders have been using this "Pivot" trading methodology for a hundred years...with great success I might add...so I don't really see why some here think that something SO SIMPLE as being LONG above a particular Price...or, SHORT below that same particular Price is such a foreign concept.

This method is ALSO similar in some ways to a Toby Crabel technique that he calls "Opening Range Breakout" fwiw Crabel calculates a number (called the "stretch") that is then added to the Open. Trades are taken above or below this "stretch" amount. Typically Crabel employs these methods following Inside Days and Narrow Range Days.

Point is...this type of entry strategy is NOT as arbitrary or foolish or unusual as some seem to think.

Look...the world is full of people that thrive on making things more difficult than they need to be. They have invested hundreds (if not thousands) of hours (and dollars) trying to become successful traders.

Indicators !

Books !

MORE Books !

MORE Indicators !

The list goes on...we know the path...we've ALL traveled it !

People trying to validate the time they've spent...the work they've done...and even the money they've made (or lost) !

---------------------------------------------------------------

There is a great quote from Ed Seykota...a famous trader that was featured in the original Market Wizards book by Jack Schwager.


When asked by Schwager..."Don't all traders want to win ?"

Seykota said (in part) ...

"Win or lose, everybody gets what they want out of the Market...I think that if people look deeply enough into their trading patterns they find that, on balance, including all their goals, they're really getting what they want, even though they may not understand it or want to admit it."

---------------------------------------------------------------

I'll leave you...and others reading this thread...to take from that profound quote what they will.

There are a lot of ways to make money in the Markets...and prolly MORE ways than that to LOSE !

Ultimately, each of us gravitate to trading concepts that best fit our own unique temperment and talents (or, lack thereof).

And...ultimately..."win or lose, we ALL get what we want out of the Markets"

GLTY


Regards,

alf44


StockFetcher Forums · General Discussion · SWING TRADING<< 1 ... 4 5 6 7 8 ... 12 >>Post Follow-up

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