A 70k bet that I can't make a 50% gain in 2009

Geez, you change can your time stamp to reflect your geographic location:) j/k

Guys, you need to think a bit. I followed Geez on that FAS trade.
I saw his post, looked at the quote and FAS was 9.16 so I bought it. When I pulled up the chart it was obvious to me where his entry signal was. I never even realized the time he posted was wrong.

Btw, thanks Geez. That was about the easiest 1K I've made all week. Everything seems to be stress right now so it was nice to never be down a penny for a change.
 
Just re-read my post. I apologize if it came off as rude. Thats not what I meant it to be.

What I was trying to say is if the stop hasn't been hit then the set up is still valid, so don't over think it. Something I do way to much of and it never makes me money.

I think the real issue though is people trying to learn Geez set ups and trying to make certain they understand what hes doing. That makes perfect sense. This particular set up, whatever Geez calls it I don't know, is one I'm familar with. Btw, I don't have a name for it so I hope Geez has something clever for us..lol!

Hope I didn't offend anyone.
 
Quote from TraderSU:

Aren't we discussing "Gap Trading Strategies" here?

http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:gap_trading_strategies

I also read somewhere that stocks with "price above $40" and "average daily volume above 2M" are better candidate for such scalping.

Thanks,
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If we are talking about the FAS trade, no this is not a gap play. The reason I bought FAS there was it set up a higher low at 1:45.
Now, WHY I entered FAS goes back to the discussion with Snake before...
I had a LONG bias on the bank sector today. Most of the banks were setting up some sort of buy signal on the daily charts. I played BAC long twice today as well. So when I have a long bias on a stock, or sector, I disregard all sell setups and watch for long entries only....
Will this work all the time? NO....
But all I am looking for is 50% avg.

The MGM and LVS plays were gap plays though....
Anyone care to describe those?If no one does, I will post reasons for entering them tomorrow before the open.-G
 
Quote from snake:

Interesting trade....doesn't seem to fit your normal criteria as FAS was still declining. I'm assuming you were buying off the 1:48 bar but saw it a bit late? Worked out well for you regardless!

By the way, what account size are you working with? It's about 70-80k right? 70k starting?
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Snake...my account is over 90k now.
 
Geez is doing just fine.....One thing I want to emphasize here is the concept of the lowest high bar (for shorts),or the highest low (for longs).

Geez is asscuming that the LH (or HL) will hold.....So,when his setup bar is formed he immidiately makes his move on the violation of the L or H respectively...
As a matter of fact,he puts his stop on the other end of this setup bar and he can be stopped out on the very next bar.If one wants to be precise,he must wait until the bar following the setup bar is completed,and then declare that he has a valid LH or HL bar.

Am I right here Geez?
 
Quote from AA48:

Geez is doing just fine.....One thing I want to emphasize here is the concept of the lowest high bar (for shorts),or the highest low (for longs).

Geez is asscuming that the LH (or HL) will hold.....So,when his setup bar is formed he immidiately makes his move on the violation of the L or H respectively...
As a matter of fact,he puts his stop on the other end of this setup bar and he can be stopped out on the very next bar.If one wants to be precise,he must wait until the bar following the setup bar is completed,and then declare that he has a valid LH or HL bar.

Am I right here Geez?
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AA48, You are correct. I am anticipating the Lower High (if short) or Higher Low (if long).
Like you said, if I am going short and the stock rally's....let's say three 5 min bars , but still below the last pivot high and on the 4th bar it breaks below the low of the 3rd bar, I am shorting it, putting my stop over the high this rally has made so far.
 
Geez, when using the LH/HL strategy do you have an idea of what percentage of these trades move against you and get very close to your stop before then making it to your target?
 
Quote from NoDoji:

Geez, when using the LH/HL strategy do you have an idea of what percentage of these trades move against you and get very close to your stop before then making it to your target?
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Nodoji,

23.785%

Call me Rain Man

*actually, no clue....all I really look for is 50% win total overall.
 
FRI Watchlist:

Long: genz dish expe bac fitb jpm
Short: rimm klac pot

Will watch POT early for short..extended daily and closed high yesterday.
The rest of the list is pretty weak.
 
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