Sam, a great tool you might want to look into is the ATR indicator. It helps with volatile stocks like apple and aig. It basically tells you how much the stock will move over a series of days. Hope that helps.
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Sam's Day Trading Log (With Charts)
- Thread starter Sam Morgan
- Start date
Sam, youre doing great. I'm a noob and learing alot just watching your trades. I catch myself thinking "he should have entered here or exited there" but thats all hindsight lol. I"m not sure if you stated what platform youre using, I'm new to all of this including the software. Good luck.
Sometimes the market plays some mean psychological games with me, so it's always nice to hear these words. However, the number in the total tally is what matters.Quote from NoDoji:
Sam, you know how to trade, that's what counts.
Lol! I get it NoD. I agree 100%. I like the way you choose your words; short and with full effect!There's nothing tame and controllable about successful trading because the market rewards what is difficult.
Quote from konviction:
Sam, a great tool you might want to look into is the ATR indicator. It helps with volatile stocks like apple and aig. It basically tells you how much the stock will move over a series of days. Hope that helps.
Nice one Kon. I briefly glanced at it and it seems like it'll make a great supplemental tool!
Quote from 4re:
That actually looks like a good swing trade opportunity. I would wait for it start coming back up (maybe enter at about 59.00) and you should be able to ride it up to support at 61.59. At that point you could scale out some profits and move your stop up to break even or let it ride, either would be ok.
4re, with the the 5-min chart, I can see why you may want to enter at ~$59.00. However (just a newbie thought), on the 15-min chart, it seem that the trend is almost resting at support. If I wanted to be a little more aggressive, do you think a successful trade may be to buy above the 20MA & past the support (~$57.70-$57.90) and start tightening the noose at ~$60.00 & $61.80 and get that extra point?
Yours Truely,
The Virgin Swinger
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3047862/spy.png">
Attachments
Sam
Here is how I would play this for a swing trade.
First, pull up a daily chart. If it opens up positive I would buy at about $59 and stay with it as it is going up to about $61.68, that is where you will find resistance. You can either get out there if you want but I usually stay with it until I get an exit signal because it should keep going with the trend.
Second, if it opens up negative I would place a limit order to buy at $52.00. That might not happen today but that would make your entry even better tomorrow. If you get this entry either today or tomorrow I would stay with the trade up to resistance at 61.68 or exit when the RSI (5 period ) closes over 75. I like a dynamic exit and use this for a lot of my short term swing trades.
Overall it is a classic bull flag pattern.
I hope that makes sense.
Gary
Here is how I would play this for a swing trade.
First, pull up a daily chart. If it opens up positive I would buy at about $59 and stay with it as it is going up to about $61.68, that is where you will find resistance. You can either get out there if you want but I usually stay with it until I get an exit signal because it should keep going with the trend.
Second, if it opens up negative I would place a limit order to buy at $52.00. That might not happen today but that would make your entry even better tomorrow. If you get this entry either today or tomorrow I would stay with the trade up to resistance at 61.68 or exit when the RSI (5 period ) closes over 75. I like a dynamic exit and use this for a lot of my short term swing trades.
Overall it is a classic bull flag pattern.
I hope that makes sense.
Gary
12/30:
My reason for entering FAS SHORT:
1) Breach of upward wedge
2) Breach of support
3) Breach of 8MA & 20MA
*Employment figures seemed to have little/no effect on the market.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3047955.png">
My reason for entering FAS SHORT:
1) Breach of upward wedge
2) Breach of support
3) Breach of 8MA & 20MA
*Employment figures seemed to have little/no effect on the market.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3047955.png">
Attachments
Pic. 1:
Trade 1:
SHORT:
Entry: $27.84
Exit: $27.70
+$0.14
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3047995/.png"
I had made a different trade in FAS early this morning (B/E). Occasionally, I make trades on instinct rather than what the market tells me. Sometimes I come out well, sometimes my *** gets nipped. However, overall, I have done decently with this (due to tight stops), but I don't like these trades as I trade on feeling rather than indicators.
Comments welcomed.
Trade 1:
SHORT:
Entry: $27.84
Exit: $27.70
+$0.14
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3047995/.png"
I had made a different trade in FAS early this morning (B/E). Occasionally, I make trades on instinct rather than what the market tells me. Sometimes I come out well, sometimes my *** gets nipped. However, overall, I have done decently with this (due to tight stops), but I don't like these trades as I trade on feeling rather than indicators.
Comments welcomed.