rrochon
117 posts
msg #26709
- Ignore rrochon |
6/2/2003 6:09:33 PM
Muddy,
How do you trade at 8:40 when the charts are 20 minute delay and do not show any trades until 8:50? Or do you just go by the real time quotes, and figure it is green if it opens above the previous close?
Do you know of a free charting service that gives real time charts?
Dick
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wallman
299 posts
msg #26710
- Ignore wallman |
6/2/2003 6:46:03 PM
HI DICK, i believe you meant trade at 9:40,any brokerage account you trade in will give realtime quotes,the one i use and i think a few others have just a $500 minimum to open,.....freerealtime.com used to give realtime quotes for just registering free but they may have stopped since i last checked,i know of no one else.......MUDDY
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rrochon
117 posts
msg #26713
- Ignore rrochon |
6/2/2003 10:49:34 PM
Hi, Muddy.
Yes, my brokerage, Interactive Brokers, does have continous real time quotes, but the charts are 20 minute delayed, so by the time the green volume bar shows it is 20 minutes after it happened. But I guess, the term, "in the green" did not refer to the volume bar, as I thought.
So, tonight the screen brought up ABGX with almost 8 million shares traded and IGL with over 2 million.
Without re-reading all of the posts to find the buy target, was it above the close, or above today's high?
Thanks,
Dick
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rmoseley
6 posts
msg #26753
- Ignore rmoseley |
6/6/2003 11:38:22 AM
Muddy I just started, I have read most of you posts but could'nt wait to get started, your filter brought up agbx, so i bought 5 10$ oct calls for 1.35 and sold them for $4.40 this morning- i cant wait untill monday and try something else thanks for the help and the 2000.00 profit in one day i really think your on to something- well time to go through every post in case i missed something-again thanks for sharing
Bob
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todddunning
31 posts
msg #26758
- Ignore todddunning |
6/6/2003 2:28:49 PM
Muddy, I either did something wrong or right, depending on how I interpreted the now-famous Muddy Method. Bert was kind enough to send his summary document of all your great posts. So I dived into my first Muddy trade.
This morning (Fri Jun 6) the filter returned ENI, CKC, MCEL and RNBO. ENI opened green and ranked the highest so I waited all morning to look for support, as the indexes were diving.
The basic rules and tenets I applied from your posts were: open green; 3 days down; tail; recent volume buildup.
I bought ENI at $4.55 midday but now am down 1.1%, with a 4% stop at $4.32.
My big source of confusion (and others can help me here) is the chart frequency of indicators mentioned. Since they are completely different at different frequencies, saying "bb bottom" as an entry point means zip to me.
All day long I've hit the Williams%R +0 exit at 1 min chart frequency, but then not at all at 10 mins. It could be my charting package is too good. For anyone who needs the best, get Medved Quote Tracker. It's free and just as awesome as StockFetcher.
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rmoseley
6 posts
msg #26760
- Ignore rmoseley |
6/6/2003 3:32:36 PM
Todd
I’m no pro but this is what I’ve seen in the short time that I’ve been following the MM (Muddy Method), this method tries to call the bottom not necessarily the break out move to the up side- I think you should hold on a bit and not get shaken out (easier said than done- I know not my money) but I also have a buy in for eni. (BTW you bought it at the top today it opened at 4.44 so you would have been ahead) I use limit orders when I’m not too sure about a stock so I didn’t get in yet. Also consider options--if you buy calls out of the money at the bottom with at least 130 days left, the price is all premium and not very effected by a down side move but greatly effected by an upside move—muddy please correct me if I'm off the mark
Thanks,
Bob
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wallman
299 posts
msg #26761
- Ignore wallman |
6/6/2003 3:44:43 PM
HI BOB, great to hear of your success with ABGX,as i said the method should work very well with options,many of these stocks take a few days to get going but when they do,they go,if you run a backtest of 10 - 20 days ago from today you will see about 95% winners, anything even remotely close to that and you will cleanup,the only problem i see is having the patience to find a TRUE PLAY,as most of these stocks don't carry options from what i've seen,but they can be found and very profitable as you've shown,keep looking and good luck,again congrats.......MUDDY
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wallman
299 posts
msg #26762
- Ignore wallman |
6/6/2003 3:58:11 PM
HI TODD,ENI opened green and around 9:40 - 9:45 was still green at $4.45 (.05 up),that's your entry,it's that simple,i have no idea where you got the idea of "waiting for support all morning" and it has never been mentioned using interday charts for anything,let alone indicators of which this method has none (other than rsi for exits at top band)the williams%r has no role in this method whatsoever,you may have confused this with another filter posting you have seen,MUDDY
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wallman
299 posts
msg #26782
- Ignore wallman |
6/7/2003 7:42:28 PM
BOB....do you know or have an opinion whether it is advantageous for a mutual fund to add an optionable stock to their portfolio over one that is not optionable or do you feel there is no difference,also,if you had bought 5,$10 sept calls on ABGX instead of oct calls what would have been the difference in profit over your $2000 gain assuming you sold them at the same time...thank you,MUDDY
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rmoseley
6 posts
msg #26786
- Ignore rmoseley |
6/8/2003 1:57:16 PM
Muddy,
I haven’t given that question much thought, though my initial thinking is that it shouldn’t matter too much although there are a few things that come to mind, one in paticular: non-optionable stock are generally smaller stocks and may be susceptible to lager moves especially with institutional investment, anyway I need to think on that one a while. As for ABGX it would have been 1000 vs 2000, and that’s because with the extra time the stock has a greater chance of running higher, I always buy just out of the money and go for a longer time 100-130 this way there is greater volatility to the up side if the stock does move, and very little to the down side because the price is all premium
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