Catching Tails

Recent paper trading insights:

1. Trend following tactics work great for the first 45 minutes of the day (buying breakouts), then range tactics rule (anticipating turns).

2. It never pays to move my risk stop!

3. When I take the time to do the elliot count for a swing trade, the oddz of success go way up.

4. Life is going to be so much easier after I'm on margin and no longer constrained by PDT.

5. I'm going to force myself to multiply this account from $17.5k to over $30k before opening the floodgates of unlimited long & short trading ability. Margin is like horsepower.... not always useful, especially for a novice.

Quote from cdcaveman:

you seem from your posts a very dedicated trader.. :)
More...

I'd like to believe this is the key to success.

I don't care how long it takes or what I have to do.

I will eventually become an absolute master of liquidity additions & subtractions to The Market. This is the end state of my efforts.......

:eek:
 
Potential extended fifth wave approaching on BZH.

attachment.php
 

Attachments

Position looks good so far.

Here is a longer term look at the total move, with a different (simpler) possible wave count.

It is now at the .382 yard line.

attachment.php
 

Attachments

Quote from Wide Tailz:

Long BBG @ 21.41, stop 19.8; 100 shares for .5% R
More...

This trade took off the next day, after retracing just enough to make me panic and sell.

Re-reading my rules on page 1, I violated my stop placement rule: stops go below the bottom of wave 2.

That would have put it a long way down, below the flag, so the risk was higher than I wanted.

It's funny how it broke out, retraced, then launched.

attachment.php
 

Attachments

Piles and piles of bullish stocks out there. The Market is getting very strong. It is either calling the CB's bluffs or it already knows what's up.......

I think it's just a C wave (temporary strength at the end of a larger corrective wave) but here are some items for the shopping list at the present moment:

STZ
LAZ
SYY
PCYC
LOW
PETM
AKAM

Even gold stocks are putting in the base before the bounce:

attachment.php
 

Attachments

I think if this lower drift/less volatilty market resolves up.. it won't be by very much.. i really can't see how we can blow past 1500 on the S&p...
 
Quote from cdcaveman:

I think if this lower drift/less volatilty market resolves up.. it won't be by very much.. i really can't see how we can blow past 1500 on the S&p...
More...

1500 is 96.5 points away..... 6.1%
 
You must log in or register to reply here.
Back
Top