Trading Journal - May

Status
Not open for further replies.
It's new intraday support is 50.25 area,
More...
I see that clearly...

but you can't use 1 minute charts on this stock. Too much noise and whipsaw.
More...

OK.

If this stock gaps down quick against futures and I'm able to catch it, then I'll go long.
More...

You mean go long at 50.25 area, or go long at 50.25 area _AND_ "If this stock gaps down quick against futures and I'm able to catch it" ?

nitro
 
You mean go long at 50.25 area, or go long at 50.25 area _AND_ "If this stock gaps down quick against futures and I'm able to catch it" ?

nitro [/B][/QUOTE]

If QLGC traded into the 50.25 range then I would consider going long, BUT if it gaps down quickly and futures are not following, then I might play the long side regardless of the price it gapped to. When trading this stock you can't place as mcuh importance on the support/resistance due to the volatility. Anytime QLGC gaps against futures the gaps are usually filled within 30 minutes. This stock requires a different type of trading strategy than most when using charts, studies, ect;
 
If QLGC traded into the 50.25 range then I would consider going long, BUT if it gaps down quickly and futures are not following, then I might play the long side regardless of the price it gapped to. When trading this stock you can't place as mcuh importance on the support/resistance due to the volatility. Anytime QLGC gaps against futures the gaps are usually filled within 30 minutes. This stock requires a different type of trading strategy than most when using charts, studies, ect;
More...

Ok.

nitro
 
Originally posted by nitro

Why?

nitro
More...

I wanted to make some money.

Look at the 1 min 1 day chart and you tell me? Did you see a chart pattern a few minutes before I took that trade that screams short?
 
I wanted to make some money.

Look at the 1 min 1 day chart and you tell me? Did you see a chart pattern a few minutes before I took that trade that screams short?
More...

Got it - Stoch 100, MACD diff loosing mo, NAZ wiggle exhausted in downtrend, res at 32.40, for easy stop loss.

Sorry, I will be more selective in future posts.

nitro
 
Originally posted by nitro


Got it - Stoch 100, MACD diff loosing mo, NAZ wiggle exhausted in downtrend, res at 32.40, for easy stop loss.

Sorry, I will be more selective in future posts.

nitro
More...

Those were some smaller signals, but look at the double-top formation at 14:47 and 15:12. Once that second top pulled back that generally signals a short.
 
Those were some smaller signals, but look at the double-top formation at 14:47 and 15:12. Once that second top pulled back that generally signals a short.
More...
The double top is what I meant when I mentioned the resistance at 32.40. However, I see that that takes on a greater weight than the price derivative signals, which I was not sure...

The only thing that would worry me is selling into a pretty positive stock on the day - still, I assume your stop-loss was at 32.39 area, so low risk trade if wrong?

Did the NAZ weakness at that time confirm, or didn't care?

nitro
 
Status
Not open for further replies.
Back
Top