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SuperEgo
- Thread starter super_ego
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Originally posted by Lavish
Ego, You stated: "QQQ trade well ahead of the market." Will you please tell us your definition of "well ahead"? (minutes, hours, days, weeks, months, years? How many of which?)
In order to follow your system of: "In uptrends, buy all pullbacks into (and below) the moving averages...In downtrends, short all rallies into (and above) these moving averages." Will you clarify a couple of issues regarding trends?
Under your heading: "To set up and identify a trend"
You stated that QQQ "are the immediate trend," (although ahead of the market?) You also stated that the daily chart of whatever investment is traded..."is the immediate trend." So, when they are opposite each other, which one do you suggest we use to determine the trend? Or, because we are using these and many other (indices) charts, do we take the consensus? ie: 4 up, 3 down, we're in an uptrend and vice versa?
By the way, I set up my charts today just the way you specified and was able to identify the opportunities to get in but didn't always find a profitable way out. Of course, I didn't trade "for real"....learning curve ya know.
Folks. This is a real treat. Many moons ago, I was sitting in the office of this very person, who has graced us with such inquisitive questions,trying to figure out how in the world traders traded 'at the open' orders or 'order on close imbalances' (I just didn't understand at the time). But, apparently, after receiving my invitation to pop in here we have been bless-ed by the king sponsor of the ET boards. Lets give a round of applause, to the the Nevada Incorporator, the ET Papa extrordinair, Snake-em-up-oil-em-down give-em-to-your-mamas-if-you-gottem, Mr. (Not An Alias) himself...............d-o-o-o-o-o-o-o-o-n B-r-i-i-i-i-i-i-i-i-i-i-g-h-T!!!!!!
Welcome Don. I am SuperEgo and this is our Den.
I should have been more clear on the subject of "trading well ahead of the market" that gets everyone's panties in a bunch. I am talking about seconds, obviously. Since markets are controlled by program trading (computers) discrepancies in the market exists for only seconds (2-10 at best). However, with a trained eye and a feel for program trading levels a good trader (not one that trades from Bright) can capitalize on this discrepancy.
I look for divergences in the market, also. I watch the QQQ's <i>(I'll be right there honey....I got Don Bright right where I want him)</i>....sorry, my wife. ....the QQQ's, I observe daily trends in the QQQ's and watch to see when market participants start selling the qqq's before selling the ump'teen thousand stocks in the nazzie composite.
The Immediate trend. The Q'z move first (immediate...), then the market moves second (not immediate). <i>God I love this. You gotta stick around, Don. I'll come to Vegas, we'll hit up a couple a' titty bars, trade a few million bucks in the Q'z.</i>
Daily chart/investment traded/immediate mumbo jumbo:
OK. Lets say you are watching MSFT and you observe that MSFT is not obeying the movements in the Nas or INDU's (or vice versa). Msft will have its own immediate trend. That will be evident by observing the 5MA on its 15min chart, regardless of what the Nas Comp is doing or INDU's are doing. You can see the trend of MSFT on its 15min chart, its really not that hard. Take a look-see yourself if you don't believe me. Oh! Also, if one is moving up and the other is moving down, well then, short the one going down and buy the one going up. C'mon, Don....you know all this stuff already.
As far as intraday exit strategies are concerned, we are going over that as I type.
Pleasure to have you here and I hope you take heart in the humor that I be-slammin' on everyone.
Gentleman and Gentleman.....Mr. Don Bright!
The Super_Ego
<i>Next?</i>
SE,
how do you select the stocks you are going to trade for the day? most volume for the day, or favorite stocks that you trade daily, etc.....
Also, do you avoid stocks that have big news on them i.e. accounting fraud....or do these actually work well with your technique because something like this would be trending quite a bit with big pull backs or rallies?
Something like eds recently i would be hesitant to trade with just watching the charts......he was spreading .50 to a dollar a clip a week and a half ago......I don't think the specialist would be watching the moving avg in a panic sell off like that .....
i'm enjoying your posts....keep on!
how do you select the stocks you are going to trade for the day? most volume for the day, or favorite stocks that you trade daily, etc.....
Also, do you avoid stocks that have big news on them i.e. accounting fraud....or do these actually work well with your technique because something like this would be trending quite a bit with big pull backs or rallies?
Something like eds recently i would be hesitant to trade with just watching the charts......he was spreading .50 to a dollar a clip a week and a half ago......I don't think the specialist would be watching the moving avg in a panic sell off like that .....
i'm enjoying your posts....keep on!
you're not new to this board, no i can't believe that. who are you? you are well educated
and well above average intelligence, that fact alone eliminates 95% of the posters on ET.
who are you o'wise one?
and well above average intelligence, that fact alone eliminates 95% of the posters on ET.
who are you o'wise one?
Originally posted by Lavish
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For another example...this chart looks like a "downtrend" to me...calling for a "short" entry on that rally just past the break. Where did I go wrong?
It is a downtrend and it can be played that way, also. But traders need the kind of capital that you have, first!!
Less risky way to play it is that of a Break. See chart!
SE
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