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DT1 Swing Trading Journal
- Thread starter DT1
- Start date
Quote from DT1:
Hi all,
I am so disapointed today. I could not follow the market and missed some nice picks. I could not take any position but if I could I would have bought SBL, HAIN and DRIV. The patterns look very promissing.
Did anyone here bought these stocks?
DT1
I notice your prefer high volume stock breakouts.. do a study on stocks breaking out of bases and trendlines.. on low volume... I did such a study and noticed for a swing trader 2-7 day hold time.. there makes very little difference... As of a while back.. I started to place no emphasis at all on volume.. I now strongly believe its a myth.
--MIKE
Mike,
So you pay no attention to volume what so ever? Do you trade stocks with very low volume? I personally don't feel comfortable trading low volumes stocks, I think it gives too much room for people to manipulate the price on a short term basis. One large order or some MM crap can cause you to be stopped out. I guess if you keep your stops wider, than you can filter the noize.
So you pay no attention to volume what so ever? Do you trade stocks with very low volume? I personally don't feel comfortable trading low volumes stocks, I think it gives too much room for people to manipulate the price on a short term basis. One large order or some MM crap can cause you to be stopped out. I guess if you keep your stops wider, than you can filter the noize.
If anyone is interested I'm currently short NSCN and LRCX. I'm more biased on the short side. I'm watching the $VIX closely to confirm the next down move.
Matthew Frailey does a great job at finding nice set ups.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID369857&cmd=show[s11617603]&disp=O
WTEL on his list looks good.
Matthew Frailey does a great job at finding nice set ups.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID369857&cmd=show[s11617603]&disp=O
WTEL on his list looks good.
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Quote from mars22:
Mike,
So you pay no attention to volume what so ever? Do you trade stocks with very low volume? I personally don't feel comfortable trading low volumes stocks, I think it gives too much room for people to manipulate the price on a short term basis. One large order or some MM crap can cause you to be stopped out. I guess if you keep your stops wider, than you can filter the noize.
I think you misunderstood what I was saying... Of course I trade liquid stocks that have volume.. because the slippage and spread will destroy me otherwise...
What I was trying to say is that I place no emphasis on volume as a predictive tool... Lets say KRON broke down on heavy volume or weak volume.. it wouldnt matter to me...
--MIKE
Quote from ewile:
I'm looking at APOL for a swing trade monday. Price has been constricting at the high for a couple of weeks now. NR7 Friday will make for a nice tight stop. (Last weeks, weekly bar looks like an NR7 too.)
Thoughts?
Ed
Yes.. price is tightening near the highs in a wedge formation... Could break up or down from this wedge...
Personally I would avoid APOL at all costs.. look at each bar individually and you will notice how choppy this stock tends to be...
But if you wanna play the stock.. I would wait for a break of the wedge and play the direction of the breakout.
--MIKE
Quote from Trend Fader:
I notice your prefer high volume stock breakouts.. do a study on stocks breaking out of bases and trendlines.. on low volume... I did such a study and noticed for a swing trader 2-7 day hold time.. there makes very little difference... As of a while back.. I started to place no emphasis at all on volume.. I now strongly believe its a myth.
--MIKE
Hi Mike,
I trade stocks with average volume above 250 000 shares/day and at the moment I focus on stocks trading at least 1.5 times above average volume. I noticed that I get better signals when price action is confirmed by volume.
For now most of my picks are breakouts. But I am also looking for stocks which are getting out of a consolidation period like SBL and DRIV. I would not normally take the DRIV trade because volume is not high enough. But it is going to be interesting to follow the stock.
DT1
Quote from mars22:
If anyone is interested I'm currently short NSCN and LRCX. I'm more biased on the short side. I'm watching the $VIX closely to confirm the next down move.
Matthew Frailey does a great job at finding nice set ups.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID369857&cmd=show[s11617603]&disp=O
WTEL on his list looks good.
Hi Mars,
LRCX is a nice pick. This is the sort of breakouts I like to play. The only reason I did not spot it is that there is not significant increase on volume. I hope it will turn out to be a profitable trade for you.
On NSCN you are against the trend. It seems more risky to me, isn't it?. I am curious to know where you put your stop???
DT1