TheRumpledOne
6,407 posts
msg #66898
- Ignore TheRumpledOne |
9/2/2008 4:05:57 PM
miketranz
Avery,when you enter a trade in your "buy zone",lets say a long position +.10,how prone in your own experience is the trade to wipsaws? Have you identified stocks that don't retrace below your zone,that basically tend to go up and stay up above the zone? Where are you stopping out? Thanks,Mike......
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If I had a NICKEL for every time someone asked about WHIPSAW!!!!
Look, it is SIMPLE.
If you go long and the price drops below the open... you're stuck.
If the price THEN goes into the short zone and you are not short THEN YOIU ARE NOT TRADING THE BUY ZONE!!
See, the "stop" is "built in"!!
But if you trade well, you don't have to worry about stops.
The absolute worse case is going long at open + .20 and exiting at open - .20 and that's only because you are being STUBBORN. PRICE IS TALKING AND YOU ARE NOT LISTENING!!
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miketranz
956 posts
msg #66902
- Ignore miketranz |
9/2/2008 5:28:44 PM
Avery,thank you for the explanation.Which stocks perform the best or is there such an animal??
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Walid
130 posts
msg #66903
- Ignore Walid |
9/2/2008 6:05:13 PM
IMHO, scalping is VERY VERY dangerous undertake that require years and years of training. TRO said it – indirectly – when he said “you don’t think, you react”. To reach this level of fast reaction you must be very well trained such that it comes to you as a reflex – in reality your brain gets it from the cache. Try to spend more time with swing trading using daily/weekly charts until you master the game then think about scalping next. You have to learn how to walk before you run otherwise you will be giving your money away. My 2 cents.
Good trading everyone.
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TheRumpledOne
6,407 posts
msg #66914
- Ignore TheRumpledOne |
9/2/2008 10:47:33 PM
miketranz
Avery,thank you for the explanation.Which stocks perform the best or is there such an animal??
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I think most people know by now that I like to make AAPL juice.
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TheRumpledOne
6,407 posts
msg #66915
- Ignore TheRumpledOne |
9/2/2008 10:53:06 PM
Walid
IMHO, scalping is VERY VERY dangerous undertake that require years and years of training. TRO said it – indirectly – when he said “you don’t think, you react”. To reach this level of fast reaction you must be very well trained such that it comes to you as a reflex – in reality your brain gets it from the cache. Try to spend more time with swing trading using daily/weekly charts until you master the game then think about scalping next. You have to learn how to walk before you run otherwise you will be giving your money away. My 2 cents.
Good trading everyone.
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I DISAGREE 100%.
MILKING THE COWS IS SIMPLE.
YOU HAVE PREDEFINED ENTRIES THAT NEVER CHANGE. ALWAYS THE SAME EVERYDAY.
YOU EXECUTE THE TRADES THE SAME WAY EVERYDAY.
YOU DO NOT NEED TO KNOW WHAT THE MARKET IS DOING. IN FACT, IT'S BETTER IF YOU DON'T KNOW.
ALL YOU DO IS WAIT AND PULL THE TRIGGER.
I NEVER CARE ABOUT BULL MARKETS, BEAR MARKETS, TRENDING MARKETS, RANGE BOUND MARKETS, ETC.... I JUST TRADE THE SAME WAY, DAY AFTER DAY AFTER DAY.
I DON'T NEED INDICATORS.
I DON'T NEED TO RESEARCH.
I DON'T NEED TO LOOK AT CHARTS.
I KNOW THAT IF AAPL MOVES TO OPEN + .10 CHANCES ARE IT WILL HIT OPEN +.50 AND IF IT MOVES TO OPEN - .10 IT WILL HIT OPEN -.50. THAT'S ALL I NEED TO KNOW. WHEN THOSE STATS CHANGE IS WHEN I'LL TRADE SOMETHING ELSE.
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Walid
130 posts
msg #66932
- Ignore Walid |
9/3/2008 1:27:11 PM
Disagreement between traders is the only reason securities exchange hands everyday in the market place. I am very happy that your style is working for you and I wish you the best of luck milking the cows :-)
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guru_trader
485 posts
msg #66938
- Ignore guru_trader |
9/3/2008 7:04:42 PM
Walid, were you burned scapling? Trading TRO-style is not dangerous at all and does not require years of training ... maybe only a few days is all.
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TheRumpledOne
6,407 posts
msg #66941
- Ignore TheRumpledOne |
9/4/2008 12:39:54 AM
No luck is necessary.
The price has to move through the zone, it's that simple.
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trek
72 posts
msg #66945
- Ignore trek |
9/4/2008 10:14:07 AM
Avery,
This may be a dumb question. Are you only trading this method at a maximum of two trades per day, or do you trade every time the price crosses the open +/- .10 during the day?
Thanks,
Trek
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TheRumpledOne
6,407 posts
msg #66955
- Ignore TheRumpledOne |
9/4/2008 4:03:47 PM
Depends... if the gap is filled, if there's a lot of volatility, how greedy I feel that day, etc.. Usually, after the first couple of trades, I lighten up on the shares. Don't want to give it back.
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