Anybody know what has shot GROW up today? Im assuming there must be a takeover rumor out there.
Spydertrader's Jack Hershey Equities Trading Journal III
- Thread starter Spydertrader
- Start date
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Final Universe
BTJ CECE CHDX FRG GMKT GROW GRRF IAAC IIG JADE JSDA LEND MEH MTOX NCTY NGA OMTR ROCM SNCR SYNL SYX TRCR
BTJ CECE CHDX FRG GMKT GROW GRRF IAAC IIG JADE JSDA LEND MEH MTOX NCTY NGA OMTR ROCM SNCR SYNL SYX TRCR
Quote from Haroki:
Yes, it is.
Nicely done.
- Spydertrader
hey guys.... i have been doing well with this strategy overall and think that it works really well in a trending market or a healthy market... but for the past few weeks, the market has been real choppy.... open high, then drops down all of a sudden, follow by a big rally, then a big drop again...... and alot of the times, my stocks just follow the market and drops down sometimes to my 2% stops.... is this happening to you guys?
but since we make trades primarily in the morning we dont really know how the market is going to react the rest of the day, and i found that the market direction is what's killing me and what's really affecting my stocks a lot of the time.
but since we make trades primarily in the morning we dont really know how the market is going to react the rest of the day, and i found that the market direction is what's killing me and what's really affecting my stocks a lot of the time.
Quote from chiefraven:
I found that the market direction is what's killing me and what's really affecting my stocks a lot of the time.
Draw in the trend lines - complete with Gaussian Analysis. Set your stop at the right trend line. Sell, if Price crosses a Right Trend Line on any subsequent day after entry. If Price breaks a Left Trend Line, look to see if you can draw a 'steeper' point Three Channel. If so, sell when Price breaks the new right trend line. In the above scenario, making it past the first day in profit provides the only obstacle (provided no gap down on news hits the wires).
- Spydertrader
Quote from chiefraven:
hey guys.... i have been doing well with this strategy overall and think that it works really well in a trending market or a healthy market... but for the past few weeks, the market has been real choppy.... open high, then drops down all of a sudden, follow by a big rally, then a big drop again...... and alot of the times, my stocks just follow the market and drops down sometimes to my 2% stops.... is this happening to you guys?
but since we make trades primarily in the morning we dont really know how the market is going to react the rest of the day, and i found that the market direction is what's killing me and what's really affecting my stocks a lot of the time.
Personally. I've found that a 2% stop isn't that good an idea, except like on the first day - I believe there was some discussion on this in one of the other journals. You can always reenter after a pt 3 on the 30 min. There's always gonna be some whipsaw where, just as you said, the stocks rise and fall with 'the market'.
I haven't tried it, but I think a 2% stop would be fine if you were monitoring/marking trendlines on a 30 min chart. I've found that if we enter at the beginning of a trend (pt 1 or 3 - daily) or at the bottom of a larger channel (20% or so) , then monitor on a daily and take the whipsaw as part of the game. If I enter in the middle of a channel, thinking that I'm missing out on a good thing, maybe the 30 min is the way to go for the first day or 2, unless you 'catch' a big move up and gives you a cushion to switch to daily.
Just my 2 cents....
edit - Spyder said, much more eloquently than I ever could, what i was trying to convey..
The short side is working pretty well though.
Look this system works,even with its basic rules, if you are going to
skip trades in the middle of a draw down, you are going to miss the next big move.
When in doubt go back and take a look at that equity curve posted by mischief. That's the beginner level...
I'm just telling you, hold on and dont start second guessing a great sys.
Look this system works,even with its basic rules, if you are going to
skip trades in the middle of a draw down, you are going to miss the next big move.
When in doubt go back and take a look at that equity curve posted by mischief. That's the beginner level...
I'm just telling you, hold on and dont start second guessing a great sys.
i'm not second guessing... and i have been trading it for more than half a year now... and yes it does work.... and i did pretty well before... i'm just saying that the market right now is very volatile and i find that it affects my trades a lot lately....
please dont act so defensive all of a sudden... i have been a poster here for a long time, so do show some courtesy please.
All i was asking was how some of you are adjusting or managing your trades when the market is so unstable like it is now. that's all. and no. i dont agree with what you just said... sometimes you have to make some minor adjustments to whatever strategy you're using based on market condition, for example, you wont be holding a 20% drop solely based on your first reaction to buy would you?
i'm asking about trade managements, i've never asked the validity of this trading system... i think you may have got the wrong perception.
please dont act so defensive all of a sudden... i have been a poster here for a long time, so do show some courtesy please.
All i was asking was how some of you are adjusting or managing your trades when the market is so unstable like it is now. that's all. and no. i dont agree with what you just said... sometimes you have to make some minor adjustments to whatever strategy you're using based on market condition, for example, you wont be holding a 20% drop solely based on your first reaction to buy would you?
i'm asking about trade managements, i've never asked the validity of this trading system... i think you may have got the wrong perception.
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