stevegee58, bundlemaker, R/R, Spydertrader, bi9foot:
Thank you all for your help.
Great thread, great work!
John
Thank you all for your help.
Great thread, great work!
John
Spydertrader's Jack Hershey Equities Journal II
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Sure, that's and easy one! Even though it had broken the channel, it didn't provided confirmation of a BO with price improvement until Friday. I feel I was way late on committing Friday, but that stock had seen some, in my opinion, erratic price movement in the previous weeks due to deals with MSFT and earnings, so I was being extra cautious.
I hope this helps
Question on bar counts:
Using 5 minute charts we get 78 bars per session (in a 390 min session). I would like to ask if this number of bars per session is significant and why it is so? I ask, because I am finding that in fx for example, when I set the tick parameters to a level so that in the entire european session I get approximately 80 bars - I similarly find I get a good read of the market.
I know a guy who successfully trades fx using 8 hour charts (480 minutes per bar in a 24 hour market or 3 bars/day) and again, using the monthly time period as the cycle length, he gets a similar sort of bar count in his 'session'. I used to set my tick charts so that I got 89 bars a week and I found this was optimal for bringing out the more major moves of the week (the week being the cycle length in that instance).
I'm just curious, but over time this bar/cycle length keeps coming up as an "efficient bar count level" that is the central timeframe to view the session, so I was wondering if there is an explanation as to why approximately this number of bars/session provides a manageble work space in which to view the market? How come the number 80 or thereabouts is just enough but not too many bars to manage in a set cycle period?
Using 5 minute charts we get 78 bars per session (in a 390 min session). I would like to ask if this number of bars per session is significant and why it is so? I ask, because I am finding that in fx for example, when I set the tick parameters to a level so that in the entire european session I get approximately 80 bars - I similarly find I get a good read of the market.
I know a guy who successfully trades fx using 8 hour charts (480 minutes per bar in a 24 hour market or 3 bars/day) and again, using the monthly time period as the cycle length, he gets a similar sort of bar count in his 'session'. I used to set my tick charts so that I got 89 bars a week and I found this was optimal for bringing out the more major moves of the week (the week being the cycle length in that instance).
I'm just curious, but over time this bar/cycle length keeps coming up as an "efficient bar count level" that is the central timeframe to view the session, so I was wondering if there is an explanation as to why approximately this number of bars/session provides a manageble work space in which to view the market? How come the number 80 or thereabouts is just enough but not too many bars to manage in a set cycle period?
Anybody else having the Rank Scan (WL site) returning a number of stocks with Friday's date (12/1)? It's 8:30++ PST and a number of the stocks in my scan haven't updated yet. But some have...
spooz
spooz
Yes, I'm having the same trouble with the dry-up scan. Some stocks are updated, some aren't. 8:50pm PST.
EDIT: 3 minutes later one of the stocks (GROW), that still had 12/1 data, now has 12/4 data. Another one I spot checked was still on 12/1 data so I guess its just sloooow today.
Rickylc,
Thanks. When you say 'price improvement', do you always wait for price to be higher than yesterday's close before entering a long position or do you just wait for the indicators to start turning up (ie make a hook up) and thus may enter at a lower price than yesterday's close?
This is because my channels seems to be more like yours than others and I find that I'm usually too early by maybe a day or so (do you find this too?) (and thus tend to get stopped out) and if I draw another channel, than I'm later than others.
Bi9foot,
Thanks
Thanks. When you say 'price improvement', do you always wait for price to be higher than yesterday's close before entering a long position or do you just wait for the indicators to start turning up (ie make a hook up) and thus may enter at a lower price than yesterday's close?
This is because my channels seems to be more like yours than others and I find that I'm usually too early by maybe a day or so (do you find this too?) (and thus tend to get stopped out) and if I draw another channel, than I'm later than others.
Bi9foot,
Thanks
Quote from rickylc:
Sure, that's and easy one! Even though it had broken the channel, it didn't provided confirmation of a BO with price improvement until Friday. I feel I was way late on committing Friday, but that stock had seen some, in my opinion, erratic price movement in the previous weeks due to deals with MSFT and earnings, so I was being extra cautious.
I hope this helps
Yes, i await price improvement to enter long. however, in this instance I believe a strong case could have been made for entering midday on Thursday after price had bottomed. As I mentioned earlier there had been some strange trading in this stock and I belive that Thursday was the day that 3 million plus shares exchanged hands pre-market. After that all shook out and price bounced back, it might have been worth risking an early entry.
rick
So far today it seems like both would have been excellent trades, at least from a price increase standpoint. I haven't looked to see if they would have triggered according to the 30 min chart buy criteria.
Held 500 shares of COGO yesterday and for some of the morning today.
Sold it for a nice tidy profit..
GROW was the one though..some awesome stock.. it will not stop.. well at last for the moment..LOL
But not to fret, there will be another train coming into the station sooner of later.
ALL ABOARD ..
Regards to all
Ron in Tucson.
Sold it for a nice tidy profit..
GROW was the one though..some awesome stock.. it will not stop.. well at last for the moment..LOL
But not to fret, there will be another train coming into the station sooner of later.
ALL ABOARD ..
Regards to all
Ron in Tucson.
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