Chat Rooms - Trading oriented...

to clarify, my entry is at .5 to .6 over the whole number itself, not .5 added to the prev day's high, so virtually all long entries are made at .5 (or .6, if there's a red flag like mixed t&s or choppy trinq etc), over the whole number ...

so in short, the entry trigger is always .5 or .6 over the whole number above prev day's high, not .5/.6 added to that actual high... hope that clears it up :) eg my long entries will almost always be (number).5 or (number).6 when that occurs over the prev days high..


ken
 
A: So if the previous day's high is 41.40 you would enter at
41.50-41.60?

B: Or would you wait untill it breaks the next whole number of
42 and then enter at 42.50-42.60?

Is it A or B?

To me, waiting for "B" seems like buying when the stock is
pretty much extended...

:)
 
Ken,

Unfortunately, I'm even more confused.

You say enter OVER THE WHOLE NUMBER ABOVE PREVIOUS DAY'S HIGH.

"41" not "40" is "over the whole number" in this AMAT trade.

According to your stated rules, you should not have made this trade until 41.50.

Furthermore, in your Active Trader article you say ...

>>>" 2. Enter 0.3 to 0.5 points above the previous day’s high (for long trades) or low (for short trades)."

To me that means add .3 to .5 to previous day's high.



But this is inconsistent with..

1) "over the whole number"

2) and inconsistent with what you said in your last post...
"to clarify, my entry is at .5 to .6 over the whole number itself, not .5 added to the prev day's high,"

3) and with this AMAT trade you posted.

I am interested in your tech, would you please clear up these apparent discrepancies?

Thanks.


ProTrader1
 
>a personal goal is to learn how to start to make larger trading
>profits by expanding share size to the 5K+ type blocks... I need
>to build my skill in this area.. anyone have any tips, eg how to
>breakthrough to feeling comfortable swing large size?

First of all, think about how larger size will affect your trades with your personal trading style. Are you going to be able to fill these larger orders without slippage and execution risk reducing your edge? I'll assume the answer is yes, so then the major issues are going to be mental, rather then mechanical ones.

Divorce yourself from the dollar counting, and instead think in terms of "units". These become the building blocks of your trading plan. Pick a dollar amount that is an appropriate risk for you, then scale your size to fit the stop. Risk 1 unit each time you trade. Now a trade is re-oriented away from dollars and cents, and instead is focused on your edge. You know how much you have risked,(1 unit) so now you can see easily what you are banking when right. Risk $1,000, close the trade for a $1,700 profit...that's a 1.7 to 1 return.

This different way of thinking has helped me and many I have worked with to push through to the next level of comfort size wise.

Good luck and good trading!

-Bo
 
AAA,

Chartwiz, I think it was pretty clear Ken meant he considered the results of his room to constitute backtesting, not that he tried out new ideas on his students.
Well, it wasn't clear to me either. When Ken said:

I test the techniques daily in my live room, that's the best test of them
I interpreted that to mean he used his chatroom as a testing ground, with the members doing the testing by playing his calls.

re testing, what I mean is, if anyone wants to test out my ideas, they can see the results and performance for themselves in the live room
It wasn't until that later post when he clarified it that I understood his approach.

I see there's also some misunderstanding regarding his buy-stop point, vis a vis his current posts, his Active Trader article etc. I look forward to Ken clarifying that also.
 
Protrader, Ken would get in at 42.50. or wait until 42.60 if he was still unsure that it cleared the noise.

What ever yesterdays high is, Ken would be at .50 over the next whole number.

E.G stock high is 42.20, He buys at 43.50
stock high is 49.70,He buys at 50.50 etc.

Hope this helps.
 
Protrader, I see what your saying. Where the previous high was around 40.48, he should have bought at 41.50. Instead he bought at 40.60.

He may have figured where the stock cleared the decade number of 40 and climbed to 40.60, it was safe for a quick scalp.

Apparently it was a good idea, He nailed it for .55 lol.

He also jumped in on the opening bell and rode the momentum buying {another reason why he may have not waited to clear the next whole number.
 
Right mrbud, and if this is true, "the method" becomes less a defined method and more a discretionary rule of thumb. Also, it follows that there is much less there that is tangible and testworthy.


ProTrader1
 
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