Inventory Grab Alert 4/30/09!

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Quote from SoCalTrader619:

Perfect! I had been wondering that same thing for a while. Geez... between analyzing a setup, placing the trade, writing it down, and posting it to the forum within seconds, you've got some skills!!!
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The trade set-ups I just "feel" now through my years of experience with the delta, so that part is not difficult. The rest is not that demanding once the trade has been entered.
 
While trading AH, should divergence plays be based solely off of earlier, low-vol trading in the same AH session?

In other words AH-AH divergence or RTH-RTH divergence, but not one to the other...
 
Quote from beginner:

AMT, I have a related question:
Pilots use checklists to go thru the gauges and indicator lights before takeoffs (at least in Hollywood films). Do you use a similar type of mental checklist to rotate thru all the screens in trading?
Thanks!
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Yes....I have my ENTRY screen as my primary LCD's right in front of me (for when I need to fly). My bigger picture look charting is on LCD's to the right, and then to my left is LCD's with all secondary DOM's and Acct/Order Management trade platform items.

I can pull in items as needed to my PRIMARY LCD's when I am ready to enter a trade......once the PRIMARY LCD's are set with what I need for a pending trade, I can manage the whole trade off these LCD's right in front of me. I like everything needed when IN a trade right in front of me to stay focused. I use two 22" LCD's (one on top of the other) as my primary ENTRY screens (one tied to my trade platforms box and the other tied to my charting box). I sweep items in from side LCD's to the primary ENTRY LCD's when getting ready for a particular trade.....like getting ready for a scalp ES or DAX trade, or adding to one of my position trades, etc.

My web surfing/chating/etc is done on a laptop most of the time.

I do use mental checklists in my trading, but more important is to build very good habits for your overall trading procedures.....habits can make or break you imo! :)
 
Quote from SoCalTrader619:

While trading AH, should divergence plays be based solely off of earlier, low-vol trading in the same AH session?

In other words AH-AH divergence or RTH-RTH divergence, but not one to the other...
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They can be blended......just realize lower volume levels in AH session can still move price for extended moves/ranges. :) Many traders can get wacked in the AH session if they don't stay vigilant......there can be big moves on very low volume at times. Also, if big volume does come in for some reason (unplanned news hits. etc) the price can REALLY make some wild moves (London Bombing news type events).
 
Quote from AMT4SWA:

Through my dynamic entry/exit style it is very rare for me to get stopped out.....I can go defensive at any point within my scale in/scale out management to get to b/e (or very close) most times if the trade just goes totally strange. I always adjust distance between entries and size of position entered at each entry, as needed to adjust for what I am dealing with at the time (like lovely 3'rd deviation moves....LOL!).

If you can build a system to deal with 3'rd deviation moves, then you have 99.5% of market events handled......the last .5% can be covered with a hard stop. :)
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That hard stop must be coming handy when the black swans start flying around... tho according to normal distribution 6-sigma events don't happen more often than, say, once every 100,000 years. Gotta curtail the fat tail...

D.
 
Quote from manlycure:

That hard stop must be coming handy when the black swans start flying around... tho according to normal distribution 6-sigma events don't happen more often than, say, once every 100,000 years. Gotta curtail the fat tail...

D.
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And playing the SHORT side heavy most times really helps for the old black swan! :D
 
Quote from manlycure:

That hard stop must be coming handy when the black swans start flying around... tho according to normal distribution 6-sigma events don't happen more often than, say, once every 100,000 years. Gotta curtail the fat tail...

D.
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History indicates we get a fat tail event once every 8 years or so. There's always a financial crisis for every decade. Keeps things fun and exciting.

Reportedly, some funds have one trading group that focuses on black swan events. They lose money 99% of the time. Once in a great while, they hit a mega home run. Pretty cool huh? Not for your average "daytrader" tho.

I guess the scary thing is, what if you get the 6sigma event and your hard stop experiences no liquidity?

I have mused as to whether or not that was the reason AMT only scalped long, but held shorts overnight. Negative reactions in AH are usually much more problematic than euphoric ones.

Somebody is always ready to take profits in a bull move.

However, there isn't always a bidder to let you out of your long position when shit hits the fan.

And as there might possibly be an END GAME financial shakedown meltdown in store for us... for any number of reasons... perhaps the fat tail event favors a blow out to the downside. Wouldn't it be great to be short just before that event? And assuredly, I am sure there will be no warnings from the SEC as to when this might happen.
 
Quote from stoneface:

History indicates we get a fat tail event once every 8 years or so. There's always a financial crisis for every decade. Keeps things fun and exciting.

Reportedly, some funds have one trading group that focuses on black swan events. They lose money 99% of the time. Once in a great while, they hit a mega home run. Pretty cool huh? Not for your average "daytrader" tho.

I guess the scary thing is, what if you get the 6sigma event and your hard stop experiences no liquidity?

I have mused as to whether or not that was the reason AMT only scalped long, but held shorts overnight. Negative reactions in AH are usually much more problematic than euphoric ones.

Somebody is always ready to take profits in a bull move.

However, there isn't always a bidder to let you out of your long position when shit hits the fan.

And as there might possibly be an END GAME financial shakedown meltdown in store for us... for any number of reasons... perhaps the fat tail event favors a blow out to the downside. Wouldn't it be great to be short just before that event? And assuredly, I am sure there will be no warnings from the SEC as to when this might happen.
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Some of the many reasons why I am not a fan of holding long positions in the indexes during the AH session (unless you have some sort of a real hedge on). In our current economic environment it would be "work" to manage held LONG trades for extended periods of time in my book. :D
 
Quote from AMT4SWA:

05-06-02 11:07 PM

I have been daytrading for about 9 months now, and for the most part I have learned trading through reading and daily experience. I am looking for a way to educate myself to the next level with some actual training and I would like advice on any reputable trading instruction. There are so many firms that offer seminars for trading, but I don't have any idea which companys offer the best trading instruction.

THANX!

Christopher
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Kind of interesting to follow the progression from student to teacher. I still remember your old MACD strategy.

You have come a long way since that first post.
 
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