Trading Dummies

Quote from newtoet:

FYI, for a different take on RRI and TTWO as a good short. And, interesting comments on MXIM from Monday. http://traderx.blogspot.com/
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Thanks, very interesting comments though the posts focus on winners only. Anyway, I'll start paying more attention to each candle before I enter my trades.

Today was mixed: MERQE was a winner, CUTR, AZO and NDAQ losers. Now, check out this AZO reversal...
 

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Quote from ilganzo:

Thanks, very interesting comments though the posts focus on winners only. Anyway, I'll start paying more attention to each candle before I enter my trades.

Today was mixed: MERQE was a winner, CUTR, AZO and NDAQ losers. Now, check out this AZO reversal...
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Also I was in MRX but closed the trade at the first reversal to $31.49. I guess in this chart we have it all: range contraction, strong bars, breakout in the direction of the trend (last 3 days).
 

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It should have been a great day... but it was a scratch day nevertheless...

BOOM was nice... very good risk reward. Good entry, nice pattern.
In short, it worked:)
 

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TSRA, looked good, it started out well, but in the end I was not quick enough to close it with a profit...

Okay, okay I was really slow :p
 

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well VRTX was a trade that did not look good from the beginning...

Nevertheless, I manage to keep my low at 0.5R, mainly becuase it did not do anything all day :(
 

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Hi guys... first time posting pretty much.

I had been credit trading for about a year, but finally got burned out by it. I've read over this thread and all the links, and absolutely love the simplicity of this strategy.

Today I had 3 stocks on my watchlist:

QCOM, AMGN, MRK

The MRK was a scratch since it didn't make any new high over the inside/reversal bars until after lunch. It also had some tall wicks on the first couple of candles so I was wary to go long regardless.

AMGN was a small winner. Went long on the breakout after the 3rd reversal (also inside) bar @ 77.05, Stop @ 76.32. Looked like the stop was going to get hit midday, but ended up reversing and I took my exit at 77.37.

QCOM was a great trade. Went long at 42.90, on the break of the 3rd bar. Ended up taking profit EOD at 44.17.

All in all, QCOM was 4.23R, AMGN was 0.44R (not too great).

All trades on 15 minute bars.

I'm going to try to get charts up for the next posts, but please criticize my trades if you see any problems.

Good Trading!
 
Hi Pete, thanks for your feedback and I'm glad you find this method useful. When you get a chance, post charts as they are the best way to show your trades and have others comment and critique it.

Cheers :)
 
Here is my watch list so far this morning, in case anyone is interested... I trade on 30 min time frames for dummies.

OSUR
ELSR
PWAV
EXPE
BVF
TRAD
PGIC

all are long entries, because I believe the market is more likely to rally than decline today.

Thanks,

- The New Guy
 
This is the only dummy I took today. PGIC would have been great, but I missed it. Hopefully this one will turn out tho!

- The New Guy
 

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