MACD/Trendline Swing Trader

Quote from retire45:

Volume is usually seen as the decider of Fake or not but the prior breakouts are what I look at... Stocks tend to repeat behavior.. If a stocks frequently fakes breakouts I don't bother.

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Excuse me Retire45, but you say that if you take frequently wrong position you don't bother? Aren't fake outs are far above 50% of the cases. How to make money then?
 
Quote from epetrov:

Excuse me Retire45, but you say that if you take frequently wrong position you don't bother? Aren't fake outs are far above 50% of the cases. How to make money then?
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But what about AA, Retire45? Is it what you are trading?
 

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Quote from retire45:

If a stock has been declining 3 days to a support, I see it as ok to take the white bar even if prior day high is not broken.. Mind you this is being done with a rising overall picture.. Yes you "should" wait for the bar to complete but I am seeking more reward at risk of loss but given the volatility of a lot of the stocks I trade the bar could get large bar possibly which "could" be riskier.. TIE trade attached,.. I took it Friday long while it was white.. well it weakened and the trade may not work.. It could be taken long tomorrow above Friday's high.. you make less for more security but you may lose less. As MACD a bit high this is a 2 to 3 day trade at best.. 2 to 3 minutes for me<gg>

As I have found out, micro-managing entries is a lot less important to a swing traders results than managing the selling part..
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So you would enter TIE intraday? Do you wait for the last to be > than the open? Or do you enter near the close of the day?
 
I'm surprised this thread hasnt blown up yet. Here is one of the best traders on this forum but everyone is ignoring the journal because he is using simple techniques.
 
Quote from epetrov:

Hi Retire45,
just two points:
How do you distinguish the real BO from the fake BO?
I'd gladly play fake BOs with high rate of success.
Could you put few of your plays for tomorrow?
:confused:
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I have a trigger short on this for an ask of 14.45, limit 14.38.... (just under Thursday's low). Stop just over Friday's High.. Not happy with some spike downs in the past but the MACD just rolling down AND it is a finance stock.. Historically it has run down on this same setup also.. only negative is markets are oversold a bit so it "could" head back to it's trendline mid 15's when I hope it gives a reversal trade.. There was one last Tuesday from high 15's by the way.. Destination should be mid 11's. One could also take a very light position that can survive the high 16's and sit on it but that's not my style.. Puts also a possibility but I am new to those.
 

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Quote from epetrov:

Excuse me Retire45, but you say that if you take frequently wrong position you don't bother? Aren't fake outs are far above 50% of the cases. How to make money then?
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Hmmm.. wasn't aware of that.. Most of those I trade rarely fakeout.. Once again, I am avoiding stocks with lots of false spikes.. A trendline should be easily drawn and the MACD should not have tons of crosses.. Also stop/trigger orders with limits get you in immediately (if at all) reducing risk IF there is a fakeout. Finally I do follow sector trends..
 
Quote from epetrov:

But what about AA, Retire45? Is it what you are trading?
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AA Looks good... Similar to TIE I would take it on a white and set stop pronto.. Only negative similar to TIE is MACD a bit tired but we'll let the stop take care of that but don't be alarmed if it is unable to take out the recent high.. Being a Metals stock "should" support it unless commodities get whacked short-term.

I have never traded AA as it may have missed my volatility scans.. usually CLF, MTL, and AKS... Looks like Steel has done better than Aluminum? Perhaps a fundamentalist can clue me in.

Let me know how it works out.
 
Quote from Trend Fader:

So you would enter TIE intraday? Do you wait for the last to be > than the open? Or do you enter near the close of the day?
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Already bought TIE Friday 17.38 when the bar was white.. Still a Lizzard bar at a support area always a decent risk/reward. Lunch time or later to accept the bar for what it is..
 
Quote from trackstar:

I'm surprised this thread hasnt blown up yet. Here is one of the best traders on this forum but everyone is ignoring the journal because he is using simple techniques.
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Hi,I'm paying a lot of attention of this thread, as well as trying to leard.
I don't know about the others.
Go on Retire45, it's super.
:)
 
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