The ACD Method
- Thread starter sbrowne126
- Start date
Something that I might add is that the XLB seemed to hold up better into the end of the week than most of the other sectors. Look at FCX for example, it's been a dog over the last month or so, and yet this week it was essentially break even. Interesting action there.
I'd been following SWC as a potential short leg in a spread, (I don't spread, but I've been playing with identifying relative strength/weakness in prophet charts during the week). That thing, as weak as it is, couldn't even get below the weekly A down level on Tuesday when the market just gave it up.
Something seems to be up in the metal space, heck XME was UP on the week! Not a lot up on the week...
One thing I've noticed is since I've been doing spread trading exclusively I've been looking at the market from a different lens. It took a while for my brain to start viewing things from a relative value perspective and put direction as an afterthought. Hell Alot of times I could care less about direction lol. If you are a directional trader I would stick you getting good at that cause spreading is a different world!
Ok, last post, I swear.
Look at XLV, what a mess that's been. I had been talking with some of the folks who are regulars here about it getting a little ahead of itself with regard to the assumption that Obama Care was going to be thrown out. Now we've got monthly A downs across the board with some ugly H&S patterns, (if that's your thing). In addition, some of these names have already confirmed their quarterly A downs, (so there's probably some more downside to come).
BMY, (a former fav of mine) got hit really hard early in the week. The thing that first put the XLV on my radar though was the move early in the morning on the 3rd. That wick seemed to imply to me that there was some big selling pressure just above that 37.80 level. Wasn't really a failed monthly for me though, so it was just something I kept on the radar.
Look at XLV, what a mess that's been. I had been talking with some of the folks who are regulars here about it getting a little ahead of itself with regard to the assumption that Obama Care was going to be thrown out. Now we've got monthly A downs across the board with some ugly H&S patterns, (if that's your thing). In addition, some of these names have already confirmed their quarterly A downs, (so there's probably some more downside to come).
BMY, (a former fav of mine) got hit really hard early in the week. The thing that first put the XLV on my radar though was the move early in the morning on the 3rd. That wick seemed to imply to me that there was some big selling pressure just above that 37.80 level. Wasn't really a failed monthly for me though, so it was just something I kept on the radar.
JNJ, ILMN, BMY, BAX, DNDN, FMS - (if it can confirm that monthly).
Just a few names outta some of what I'm seeing. Just pulled a quick one out of FINVIZ, looking for optionable names with decent short interest. I'm gonna so some more work now. Looking for names that have confirmed the monthly as well as the quarterly, (hopefully).
Yeah, the nomads have left. On to the next thing.
"All the world's a stage,
And all the men and women merely players;
They have their exits and their entrances,
And one man in his time plays many parts"
William Shakespeare
Quote from Shanb:
I want to talk about a subject that we haven't touched on alot in this thread. Talking about the psychological aspect of trading. Since trading is a performance based activity I think it is a critical part of applying and executing with ACD.
This game is a very honest game...the ultimate judge of your performance will be your P&L. So how can we maximize our performance and add to the bottom line? Well, given that one has a the basics down execution becomes the most important factor.
Execution is key and proper execution requires a clear, focused, and objective mindset. Knowing when to push yourself and knowing when to take a step back.
So does anybody have any rules of thumbs to manage your trading and executing effecienctly and effectively. How do you get into rhythym and gain momentum. How do you know when to take a step back, or push on the accelerator. Or do we all just sit back and hit the buy sell button after our 1-2-3 setup?
Shan, I don't think anyone wants to talk about psychology. LOL.