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General Discussion · I need some advice about curtailing losses
curmudgeon
msg #56371
11/3/2007 10:11:46 AM

Basically it boils down to "know your time frame". If you want to scalp as TRO described then you don't switch up and become an investor midstream. Scalping, daytrading, swing trading and LT investing are all legitimate. Just pick one and don't morph from one to another in the midst of the action.

You should be able to describe why you made a buy to an absolute stranger with a convincing argument and the conviction of a person who "owns" the method they describe.

Don't be afraid to take 3-5 years to learn and paper trade before you risk actual money. The best criminals in the world all work on Wall Street and you're battling brilliant masterminds everyday. Take time to understand basic building blocks of the economic system such as the FED (parasitic, private banking cartel that's also unconstitutional - nothing federal about it) and energy (everything, absolutely everything revolves around OIL - this IS "foreign policy"). The more you understand things, the more likely you're not going to be a sheeple when it counts most.

General Discussion · I need some advice about curtailing losses
curmudgeon
msg #56324
11/2/2007 1:08:31 PM

Perhaps you might evaluate why you entered the trade at the open? Is it because your "system" gave you the signal? Or because you're following a pattern that worked for somebody else? Are you trading high ATR stocks with daily bars? Do you have a money management method? "Trade your way to financial freedom" is a good place to start. Ralph Vince has some books on MM too.

IMO to stack the odds in your favor as much as possible you need to determine trend and then find low risk entry points. You also need to be in sync with the overall market. Swing entries only come about twice a month.

Finding good entry points is much easier with multiple time frames.

Keep your charts uncluttered and simple. Up is up and down is down. IMO candlesticks, BBands etc. add more noise than they're worth. All you need to see the trend are moving averages.

Of course no matter how you stack the odds sometimes you're just gonna get reamed.

Filter Exchange · CHART TOPPER FINDER
curmudgeon
msg #56149
10/29/2007 3:55:54 PM

Killer!

Can you splain the math...not following too well.

/* Sung to "Another Brick In The Wall (Part II)" Pink Floyd */

We don't need no indicators.
We don't need no thought control.
No divination of the future
Gurus leave them peeps alone
Hey gurus, leave them peeps alone!

All in all it's just another bar on the chart
All in all you're just another fish in the sea.

General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55969
10/23/2007 9:24:00 PM

TradeStation is da sheeeit.

You can make it talk, beep, send you an email or flash a message on the taskbar. I dont think you can trade OTC's from it though.



General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55966
10/23/2007 9:03:32 PM

All indicators are a derivative of price. So whatever indicator you like to use... as long as it's set right will interpret price in a way that "talks" to you.

Personally I use 3 time frames and and nothing more than moving averages. Moving averages smooth the price without adding funkiness you get from oscillators like MACD. It's fast and it's slow, depending on what I want to do and it's all in one system. This all runs in RadarScreen so I can scan a bunch stocks at one time and see only those in the setup zone.

Money management functions figure stops and position size according to acct equity, number of positions, margin, pct risk and sends it out by global variable to the strategy which manages stops and exits. I already did the thinking so all the information is figured out for me in real time and I can just see the banana and push the button.

General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55931
10/22/2007 11:55:44 PM

I spent quite a bit of time with TradeStation and NeuroHell trying to find the grail. One thing I will say: it's not the indicator you use...it's how you set it.

If it "talks" to you that's all you can hope for.

IMHO. BBands are messy. Candlesticks are information overload. RSI is useless and slow. Stochs are ok. LinReg and channels overshoot too much making them slow. Fibonacci is coincidence. Idiot waves are idiotic. If volume confirms price why use it? Isnt the price all that matters? Did I miss anybody's buttons ? ;)

General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55927
10/22/2007 9:58:19 PM

Hands down this is the hardest thing I've ever done in my life. It ain't getting easier either. Who knows what cometh from the dark pools? Or when?

Algo and quant proggys are making trends become sheer walls...either you were in or you missed the straight up surge. Darvas box city. Surge, sideways...suge sideways.

General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55919
10/22/2007 7:40:50 PM

>>dynamic

The whole behavioral finance thing is intriguing. By drawing little straight lines from point A to point B on a chart (Martin Pring made a nice living writing books on how to draw little straight lines) all you're really doing is looking for a way to make sense of the problem. Like drawing a line in the sand; if the market crosses that line...you're gonna do something. Does the market see them?

Or fibonacci lines. Does the market see them?

Support and resistance? How many times does it bang on resistance before it can break through? Once? Twice? Three times? No matter what the market ends up doing there's an explanation.

It's all in your head ;)

And the heads all around you in the same stock.

But surely if everyone agrees the market makes fun of their collective wisdom. Computers are much faster at dishing out humility than we are. Vigilant sentinels scanning the market for consensus.

Yes. Dynamic is the right word.

General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55899
10/22/2007 11:35:17 AM

From a TA perspective there is one constant. There is always enough noise to frustrate the piss out of you.

Am I saying that it's never a good idea to have a "handle" on what you think might happen? Nope. It's a very good idea to have an idea where the trend will head but as far as ACTIONABLE signals that predict movement in a fast paced trading environment...nyet.

General Discussion · Predicting the Opening of the Market and It's Strength
curmudgeon
msg #55888
10/21/2007 11:17:34 PM

I'm sorry I didnt mean to insinuate. I thought I just flat out said it ;)

If you're gonna look for light why not get a decent trading platform and watch the 24 hr. SPY or Q's and maybe use some data mining techniques and curve fit to your hearts desire. I've tried it. It doesn't work. Savitsky Golay, nested polynomial bands, yada yada yada. Calculus works on paper. Just ask all the egghead quants WTF happened in Aug.

Like TRO has said a million times....it's not what you trade, it's how you trade it.

You and I are little fish in a big angry ocean....there ain't jack we can do but keep swimming, eat when the opportunity provides, and not get eaten.

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