Search results

Hmmm. selling naked puts on a biotech. I get chills just thinking about it. Brings to mind ITMN closing @ 45.00, halting a couple minutes later and re-opening @ 8.50 not long ago. :eek:

On that note, does anyone know what kind of slippage you would've gotten if a buy stop was a tick above the previous high?

I had the same thought, I mentioned in my trading room "I should get my buy stop prepared now." and that was at 11:00am and I didn't place the buy stop in advance, looked away for a few minutes when CL was in the major doldrums and looked back to see that move. Always prepare the breakout orders...

Thanks, mrbochin. I figured it was a typical b/o thru high, but the fact there was barely a pause after the b/o made me wonder if news.

Anyone know if the spike on the crude chart was news-based or just a standard CL breakout through R?

It would be no different. But I agree with Stoxtrader, stocks can have a particular personality that's appealing, and also be influenced counter to the market by news which can set up some really nice relative strength/weakness plays.

No slippage on entry because I only use limit orders (partial fills sometimes though, which is similar to slippage when you have to chase down the rest). Slippage when profit target is exceeded and I then move my stop to the initial profit target. Then if the stop is before the the next...

You have the wrong name, you know. You gotta have lots of emotion. I talk loudly to my trades! Crude inventories are reported every Wednesday @ 10:30 Eastern Time. You can successfully trade through the news using a special tactic wherein you close your eyes and click buy/sell randomly on...

From the look of that late day price action, it appeared 1056 was not out of the question IMHO.

The 2:1 is what makes your strategy net profitable, but some setups look good for a better move, like that JCG did.

POT doesn't trade "different" in that it goes up and down like everything else. What POT does do is move in strong even trajectories from pivot high to pivot low without a lot of jumpiness or a wide spread. Each decent move in POT is generally 1.00 or better, so when trading 200-400 shares, you...

Exactly, there was a period near the end of March where the breakouts (my previous AAPL bread and butter) became shallower with more retrace, so I dropped AAPL since POT was really working well for me, and I was starting to trade CL live for the first time and wanted to really focus on it...

From the chart it looks like this one made a .70 move from the opening high to the pivot point off which you shorted. Why not target a similar move down for the 2nd leg (around 38.85), since 2nd legs of a trend are usually similar to the first leg (measured moves)?

It had nothing to do with that. It was more a matter of my comfort with the price action. AAPL was fantastic for me and then it was no longer as predictable. Here are some of my journal notes just before I stopped trading AAPL: "Took a couple AAPL trades after the news and got whipped around...

Schiz, you make me dizzy (ok, I'm blonde, you make me dizziER) I think you've "flipped out" and should've "stopped long" ago :D

Before switching to futures I focused on AAPL, AMZN, POT and....X. I had some good trades on it, but it had a way of enticing me to go on tilt, overtrade and churn out a losing day where I paid more in commish than I actually lost trading. Often with X I'd have a stop 10 ticks away from the...

I stopped trading AAPL after its price topped $235. The partial fills were absurd, and the spread and jumpy price action became very annoying to me. I decided at that point trading AAPL made trading crude oil seem very tame, and I made the switch.

Ah, but what a sweet futbol match vs Algeria we did provide :cool:

The people who were long and smart took profits before May 6th. The up trend line broke down in late April and the breakdown was confirmed before the May 6th "flash crash". Also, if you were day trading that day, there were no long signals leading into the crash. I was watching carefully for a...

I always enjoy a good horror story, so whenever someone asks how I make a living I tell them I'm a day trader and not only does everyone kind of know that that is, they all have a great horror story about their friend/spouse/uncle/cousin, etc. was day trader and lost everything. Somehow these...