my trading...

sobemark · Jan 20, 2005

Quote from harmonicpatrick:

S,

Well, I do not see your pattern for QCOM this AM so I should not have been in. Learning curve seems to cost, but fortunately today only 100 bucks.

So do you have up 3-8 charts with issues in the AM that you focus on scanning for pattern setups?

PatrickQ

the best fades were with the sympathy plays ... which i unfortunately avoided ..

but EBAY obviously worked out on the break ..

i tend to only look at a few stocks at a time .. with a good idea in the back of my head what is going on ... focusing on highs and lows and vol.

sobemark · Jan 20, 2005

Quote from easyrider:

sobemark

In these countertrend trades using bands the probability of returning to the mean is always high but Ive always found timing the entry to be extremely difficult. Would you care to elaborate on your criteria?

you are right ...

majority of the time i am pairing into positions ... especially on volatile stocks .. this is why i elect the options (always in the money ) sometimes over the stock price ... (limited loss)

so i would say 70% is mechanical based on criteria that i set..( penetration of the lower or upper bands - extension from the 24 MA ) and 30% is experience and knowing how these issues trade ..

and of course losses are inevitable and i have been humbled many times by the market .. but i am not afraid of losing and consider any loss a cost of education.

QQQBALL · Jan 20, 2005

might have offered some trades in your system. TDW, ESV, GSF, among others

sobemark · Jan 20, 2005

Quote from QQQBALL:

might have offered some trades in your system. TDW, ESV, GSF, among others

yes ..

i stay with nasdaq ... i think the volatility is greater

jficquette · Jan 20, 2005

Hi,

Thanks for your reply about Miami. Just curious, are you also a "DJ" in Miami??? Your name is familar.

Thanks

John

sobemark · Jan 20, 2005

Quote from jficquette:

Hi,

Thanks for your reply about Miami. Just curious, are you also a "DJ" in Miami??? Your name is familar.

Thanks

John

you got it !

but not anymore ...was a bit difficult on my schedule ..

reid5525 · Jan 20, 2005

It's been said that "not every day is a trading day". Yesterday was one such day (from the long side) and today could be the same if nothing develops later. When buyers are in the market it's easy to make money. Other than that it's slippery, and will wipe out profits made on the strong days.

PatrickQ · Jan 20, 2005

I have also enjoyed your comments as well.

At the first of the month, I started filtering for small cap breakouts from congestion, or downtrend lines with monster volume.

I would buy in the last 10 minutes of the day, if prices were at the top 25% of days range, going for the overnight momentum play and be a seller during the first 2 hours of the next day, IF not on the open.

The first week of the month I had lots of winners, but as the Russell is down big for the year ... during the 2nd week of the month I stopped.

Yet, I am going to start to filter these plays using lots of your criteria that you discussed with respect to breaks from prior days highs. So, I will adjust the trading plan... until the overall conditions favor the longs.

So, thanks for your posts!
PatrickQ

raider7x · Jan 20, 2005

"I have also enjoyed your comments as well. "

I second that Reid. Positive informative posts. Tnx.

reid5525 · Jan 20, 2005

Quote from harmonicpatrick:

I have also enjoyed your comments as well.

At the first of the month, I started filtering for small cap breakouts from congestion, or downtrend lines with monster volume.

I would buy in the last 10 minutes of the day, if prices were at the top 25% of days range, going for the overnight momentum play and be a seller during the first 2 hours of the next day, IF not on the open.

The first week of the month I had lots of winners, but as the Russell is down big for the year ... during the 2nd week of the month I stopped.

Yet, I am going to start to filter these plays using lots of your criteria that you discussed with respect to breaks from prior days highs. So, I will adjust the trading plan... until the overall conditions favor the longs.

So, thanks for your posts!
PatrickQ

I hold no positions overnight. I see a precipice in tomorrow's chart and do not wish to fall in it. The intraday trend is my passion and early trend recognition is my focus. The previous day's high is an important level of price resistance with implications for trend tremination and trend continuation. It's a critical reference point for me. I like your reference to "monster volume". With the right setup (stock and market) big volume gain comes close to sure winner.