Using Oz Scans

No trades today.

The #@$%%@! DSL was down ALL day. I tried to operate on dialup. Too slow. DSL is up now. Hopefully it will be up tommorow.

Mike
 
Originally posted by BullFighter
No trades today....The #@$%%@! DSL was down ALL day.
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Mike, you didn't miss much. It was a sleep-inducing rangebound day, no volatility. Now after a constricted day like today, and with options expiration, tomorrow should be very interesting and provide lots of opportunities....
 
Nothing like going into a big gap up day short 6000 shares ....

This week was very frustrating. I didn't take any trades the first three days of the week. (lots of gaps). I have been very good being selective this year and making sure that I only take good trades.

Anyhow, I took the two Sky Scrapers yesterday, and they both gapped up big.

I placed a stop loss for SANM at 14.08 (2 cents above the 14 1/16 level. I used the 13.86 morning high and went to the 14 resistance) and for BEAS at 12.12 (2 cents above the pre-market high). Then, I started following QQQ like a hawk. Traded it a handful of time in 10K lots.

I carried a $525 deficit into today. The gap put me in the hole for additional $2500-$3000. I was patient and ignored the losers. I had my stop in. I focused on QQQ. I traded QQQ. Once SANM and BEAS took the low of the day out 10:21 for SANM and 10:26 for BEAS, I started to trail stops.

Taking the rest of the day off.

Trade Smart!

Tony

PS. Today was my brother's first demo trading day. He has been trading CCMP off the Sky Scraper Scan. (We are working on Bottom fisher and Sky Scraper exclusively now and intraday highs and lows. He found the stock on his own, wrote his trading plan and traded it. I did not help him at all) He took a short at 54.52 and covered at 53.48. 500 shares. Then he traded it a couple of times. Now he thinks this is easy. I bet the market will soon humble him. You got to love the lose-your-virginity day of a true beginner. This is so much fun :) (He sits about six feet away from me).
 

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Hey Tony!
The thing that jumps out for me from your description of your brothers first trade... He took 500 shares!

Show of hands, how many popped the trading cherry with a k-lot? Hehe, I logged in all dewy eyed and ready to get rich... Armed with my trusty LVL 2 book (Summary: find the ax, buy from the bid, sell on the offer, have a nice life) I was a lamb to the slaughter! Trade plan, what trade plan? I’m supposed to plan this stuff? I think my first was SUNW, I ponied up my 1,000 buy order, and made 3/8 in about 45 secs. Pretty sure I just chased the momo. Was the fastest $300 bucks I ever made, my heart was pounding, palms sweating, I was already figuring out how long it would take me before I could buy my Porsche. :) A year of intense pain later..........I had a lot more respect for the market :D

Your brother is a lucky guy, you will help him to neatly step over many of the caltrops I blundered through.

It’s fascinating for me to see what lessons most of the newer traders in the room have to find out the hard way. They do great with the position sizing price pattern, and money management basics, but seem to always learn about overtrading, chasing, and jumping stops the hard way.

Are you going to bring your brother to the expo in August? It would be fun to meet him...

-Bo
 
I made some of Tonys scans in Investor/RT program I use. Buddy bought book and we scanned I thought on EOD data. Anyways Investor/RT can scan intraday also. It can backtest also. I can run a backtest on EOD data if anyone desires and share results. Just email me if needed.

Mike____ :)


Originally posted by davealex
They are RealTick-specific realtime scans.

More info here:

http://www.tonyoz.com/

Dave
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Originally posted by MikeTrader
I made some of Tonys scans in Investor/RT program I use. Buddy bought book and we scanned I thought on EOD data. Anyways Investor/RT can scan intraday also. It can backtest also. I can run a backtest on EOD data if anyone desires and share results. Just email me if needed.

Mike____ :)
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Mike,

I'm sure you mean well, but I would really appreciate it if you did not use my name in any of these findings since you created the scans without my help (at your discretion and interpretation) and are also running backtesting at your discretion and interpretation using an aftermarket product to do so (not using the true scanner by RealTick).

No harm is meant by this post, but you do not have my permission to use my name with the scans you created. I'm sure you understand that any misrepresentation on your side may hurt my credibility, and I'm really not interested in that.

I've stated before that no backtesting can be done on these scans because an alert can be traded both long or short. I know many of you refuse to believe it, but it is true. I would think that I would know that being that I designed the damn thing.

I didn't mean to come out strong, but when you put so much work and effort into a product and its development, you are always concerned about performance, especially when you have your name attached to it.

Feel free to use "your" scans for your own trading, but please don't go on advertising that Tony Oz scans are available somewhere else when in fact they are not.

Tony

PS. I like the passion you have for the software you are using that you didn't only start a thread about it, but also went to the RealTick thread and this thread to tell everyone about this product. I always give the benefit of a doubt, so I hope you don't have financial interest in that product.

PSS. I tried to email you as you suggested in the post, but it was hard to do because "Sorry! That user has specified that they do not wish to receive emails through this board." You may want to fix that.
 
Well since I did not post my trade today, I will post my poker results from tonights poker game.

Long CARDS
Entry 20 bucks
Target 150 bucks
Stop 50 bucks

Started with 20 bucks, never drew down beyond the original 20. Came home with an additional 87 bucks. Best of all I had a lot of fun!

Mike
 
Originally posted by T/A_Bo
Hey Tony!
The thing that jumps out for me from your description of your brothers first trade... He took 500 shares!

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That was actually cool, because the default on TALX is set at 1000, and he took 1/2 a position. I could kiss him when he walked me through the case study :)

I hope that he will join me at the Expo. The way his brains work, in three months he will probably be able to teach me how to trade. I hope to have him trade a live account by then. My only fear is that he is 18. as you know good trading is carefree but not reckless. Well.... 18 is kinda reckless age, isn't it?

Thank God he doesn't read ET yet (don't want him to pick a fight with anyone here :) )
 
Originally posted by BullFighter
Well since I did not post my trade today, I will post my poker results from tonights poker game.

Long CARDS
Entry 20 bucks
Target 150 bucks
Stop 50 bucks

Started with 20 bucks, never drew down beyond the original 20. Came home with an additional 87 bucks. Best of all I had a lot of fun!

Mike
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What did you play?

Hi Lo, Omaha, Stud, Hold'em???

Good job!

"Best of all I had a lot of fun!"

That's the most important thing :)
 
Originally posted by BullFighter

Long CARDS
Entry 20 bucks
Target 150 bucks
Stop 50 bucks

Started with 20 bucks, never drew down beyond the original 20. Came home with an additional 87 bucks.
More...

That's the problem with cards -- you can't use a trailing stop because they start vacuuming around you.

Dave
 
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