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Trend is still down. Stock is below ma and low of the day is 10.21

Gordon, check out the chart now, 2 red candles trend failed and stock is trading back below the 5ma. This is what SE was talking about. Now if you were long at 10.35 and you didn't sell out higher then holding it now doesn't look so good. Maybe it wants to trade back down to the lows who...

has retraced back to 10.33 havent reentered since the dow, nasdaq are selling off a little. Looks like cisco wants to trade back down.

Okay Gordon, I am out at 10.45 now I look for it to pullback to a lower price but probably above my previous entry to go in again. Note, that many times it is better to sit and let it ride but that is not my style. I like to cash out and reenter.

oops here is the pic

this is how it looks now. Notice 3 green candles ma is sloping up and stochastics is turning. Also candles are taking out previous candles high.

P.S. Just bought it at 10.34 (it traded to 10.37 first, bought first pullback).

By the way, in the above chart, the 5ma is at 10.33 so we have to see it trade through this (and not by a penny). This means that if we decide to go long we will be paying up for the stock. But we will be on the right side of the trend. A riskier approach is to grab it at 10.28 or 10.29, but...

Gordon, Look at this chart of Cisco (15min chart from today taken at 7:30am Pacific). See how the trend was down since the open. Now look at the 4 red candles and suddenly 1 green candle. Maybe trend is changing. But it is too soon to tell. Wait for 2nd green candle and price to trade through...

Sharp, good example of the Microsoft chart (another one of my favorites). Gordon, in your chart, there were green candlestics for 8 consecutive bars (2 hours). Why would you wait for the trend to change (red bars) and then after a second red bar enter a long? You should be looking to short...

Gordon, I looked at your charts - choppy as hell. What are they and what time periods are they. Gordon I trade intraday and On the 15 min chart there were only 2 signals the whole day (from the 5ma) 1. short the open 2. Cover and go long around 10.24 - all the way into the close...

Good commentary SE, I opened up the day short on Cisco once it broke the open price to the downside. Shorted and covered a few times made okay cash. Then at 10.17 the stock stands there. Big seller suddenly not selling anymore. Then it starts creeping above the 5ma (15 min chart). Put in a...

Gordon, I should probably leave it for Super E to respond but just out of curiousity give me an example of a daily chart (of whatever you trade).

Gordon, Using the daily time frame, you would enter a position once the price trades through the simple 5 ma (on a daily chart) Your stop would be the 5ma (on a daily chart) - maybe a wiggle below the 5ma.

Thanks!

And some of those who make staggering amounts of money go through losing periods, and they talk about it here. Where the heck else are you going to talk about it? Nothing worse after a losing day than to have someone who knows you are a trader come up and say, "Boy, I bet you're happy. I...

what is the WL website address?

Mood has a lot to do with trading. I find that it is the losing trades that stress me out so If I get out of those quickly then the mood stays good and trading is usually good. If however something ticks against me fast and I lose more than I should on the trade then I am more liable to get...

I have a dual monitor (17 inch) and a second computer for order entry only. I do about 30 trades a day around 100,000 shares - works fine. Have been trading out of my house since 1995 never had a problem with connectivity speed etc.

doher, Have you found those premium numbers to be helpful?