what am I ?

Quote from traitor786:

GOLD

I didnt do much today and was a bit bummed i have not yet had a call from the prop.

i did like i do every day watch gold 2-5 times a day.

It was a very strange day for gold. very uncharacteristic. If i was trading today i would of pulled my money out at a small loss.

this awkward day for gold has me a bit worried but we will see if it starts to go back to normal behavior

gold was down 15 $ which is normal range. it should bounch back by 5 dollars at least to make its loss les then 10$ for the day.

Due to the abnormal behavior today I would not bet on it ,

lets wait to see gold come back to a more typical pattern

dont know how to post a gold chart on here, can i get gold chart from freecharts.com?





well firstly ... to keep it short.

1. I have traded in the past and was very successful over the span of 1 year (there were few stocks that triggered my interest so we are actually talking about looking at hundred's of stocks and only buying 5) yes it is small but each of those 5 yielded 20% +... YAH YAH i know if i was doing so well why did i stop ? what can i say, in short, because of reasons

3 no its no a financial thing, i am comfortable spending 10-20 k and loosing it

4. i have been out of it for a while and a bit nervous using the strategies from ET. but i will try, so far i have not seen anything that stands out . So i will use my intuition and make a lot of bad calls until my intuition is adjusted
More...

:D Не занимайся хуйней...

anothere words,don`t count on yourself.find GOOD mentor.it`s not the game when you can count on yourself if you know nothing.like in boxing,you need a good trainer,or the lights is going out..
 
"i hate to read "so i didnt bother with all your drivel,but you said self taught,keep that up,sign up for the free thinkor swim acct or deposit the minimum and use their charts they're great,keep learning ,save,market will still be here,when you can successfully predict consistently,start trading,use futures ,not stocks ,the stops will take you out ,23!/2 hours a day for safety
 
Some mentors cost money to train with. If you are teachible, doubtless there are some that are worth it. Research and find your own... if that's what works for you.
And you can learn a heck of a lot just following along here at ET. More than you may likely learn from any one mentor.
Ammo's advice is good. On the bottom line it's all up to each of us individually, tho a teacher can get you started.
Scary, but fun too.
 
Thanks guys, just to clear things up, by being lazy to read I mean skimming through things I don't find relevant. Indicators are great but I have yet to find any that increases odds more then me just getting a read for the stock. I read all day to develop my sense rather to go to detailed. After all I'm just trying to be more often right then wrong.

I will look in to futures, commodities and Forex, but fear that it is a totally different game. I have a sixth sense for stocks and will keep with that until I ca say that it is showing some sign of constancy.

From there I will have confidence that I can read a market and changing markets will simply be developing a new sense. So I thank you for the guidance and I do have feeling that there is some sort of benefit to eventually get out of stocks or mixing it up.

I'll try to post more charts next week as I know how much you guys love charts and dislike my long posts... You can always just skip my long posts and only look at charts. Some times some one reads this and may give me some insight like you guys have.

Thanks
 
Helluva: A helluva, difficult job. He's a helluva guy.


What am I surrounded by a bunch of Aspies?

****************************************************

This post is NOT about a stock or futures. Its a thought process.
SO It may sound like a "10 year old school girl's diary"
Skip it if you wish ill try to get a chart up soon.

****************************************************

Anyways, so my APPL pick (which you can no longer see as it is a live chart?). Was based on some TA, using trend lines.

The general idea is that the price stays in the trend line. But, every now and then it breaks out, starting a new trend. I had a feeling that it would go up/possibly break up.

The main problem is that it is best to buy or short near the trend line. But we don't know if it will respect its trend line.

MY FEELING IS BASED ON:
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In general I would say I've seen a chart hit its trend line 3* times on average before breaking out.

The main problem is that it is best to buy or short near the trend line. But we don't know if it will respect its trend line

It will hit the trend line and bounce back 70% (+/- 20%)* of the time. It will do this about 3* times before breaking its channel
* (all number's based on a feeling/aprox')

Unfortunately, we need to have 2 points (or hits) to plot the channel itself. This leaves us with 1 chance to have a 50-90% chance of being right.

The problem here, is this slight upper hand may be hindered by:
___________________________________________________

1. Slippage
2. Delayed order execution
3. Occasionally being in the 30 +/- 20% break out range.
4.. Too small of a move as it is not necessary for the price to bounce all the way back to other side of chanel.

On the other hand, we can assume (unconfirmed) that if there is a break out, it may be in my favor 50% of the time.

NO IDEA IF THIS ADDS UP TO A PROFIT.

It was these odds that helped me with APPL (not that APPL was a great pick, probably one of my worst gainers) but it was, on the spot focusing, purely TA (or my versions of TA). my old strategy doesn't work in the US markets.
It was a good pick based on a "feeling", or the above.


Its 5:50 AM and I was up at 8 AM and did the same thing yesterday pretty much. When I have something that interests me I do focus a lot on it.

And when I have interesting reading material I do read as I have been doing. Specifically about FTT's.

As of now my first challenges are :


Time.

I may be a bit of a slow learner, This does not effect my speed of execution or speed of decisions making.
On the other hand I have a better sense of direction.
I have to prove to myself in a fairly short amount of time that this is consistently profitable. As long as I have a 1% (51%) advantage over the market I can say that it is going somewhere and can continue. But I need that 1% to know that I'm not going on a wild goose chase and changing the path of my life and having a delayed income for nothing. You guys are going to not like this, but I'm thinking 1 month MAX to get an idea if i can have an advantage (this includes fees and delays ect).--based on numbers.

If my sense of direction is on the right path will this be a possibility?

I'm not living in my parents basement and this year, time has an ever growing importance as a lot has been spent on non-business (but important) issues.

So If you can give me a an idea of how realistic that is based on your experiences that would be great. That is if you read this post.

Thank you
 
What you are talking about does work. Price seems to bounce off a well selected moving average. Rather than buying at the moving average and hoping it will bounce, it's better if you wait untill after it bounces and catch it early.

SM
 
Ok I'm working on a chart from Off think or swim... not sure how to post it up yet. So once i figure that out ill post it

Another important question came up. if we are looking at making a few cents per stock then how do the fees effect the out come if you are working from home?

Also speed of execution of a trade is another factor.

Is it even possible to scalp profitably with these to issues?
If i am buying stocks through think or swim. (td canada trust) will I be OK/profiatble?

if any one can let me know how to post a chart that would be good.
i cant seem to be able to search it on the forum
 
Here is ** RNOW.

Based on what i see. I would say it is a Buy.


DOTTED BLUE LINE: "Breakable Resistance"

This line was recently raised. At 1 pm it would of been represented by the thick yellow line. Since this resistance has not yet been confirmed by a second FTT, it is considered to be a weak resistance. But, it still offers some resistance.

PINK CHANNEL:

The same applies here. Originally, At 1:45 the base of pink Channel was on a angel (shown,- pink line that I cut to uncluttered chart). Now it has a new slope that is not reconfirmed by an extra FTT. This line of resistance can easily be pushed down as it just was. An unlabeled red line connects the last 2 lows marking the lowest level of resistance possible (horizontal red line).

"Channel B": Second small red channel(up)

It is unclear if the base of the channel was properly paced. Near the top of the channel it is hard to tell which candles were FTT

THIN CHANNEL

The next channel going back down was not named and we will call it THIN CHANNEL.

"Channel A" GREEN :

It is unclear if the top of this channel has 1 or 2 FTT's as the first FTT is actually in the previous, or "THIN", channel.

Resistance B:Thick yellow line.

This line of resistance was an old line that was correct by a higher high. Like all lines, I keep them hyper extended. Many would of not extended the line out like I did and would of missed the start of channel A. Even if a resistance line is broken the same line can later be used as resistance.

OVERVIEW

Long term trend lines channels are down but short term channels (pink and green) are up.

Small red channels are getting steeper (slope). Possibly indicating only slightly faster and riskier behavior.

Ideally, we would of preferred to see down trends getting more and more horizontal and up trends getting more and more vertical but it is not big issue.

Bottom of chanel A (green) has been retested,

Unclear if top (green) has been retested.

Top of pink channel has been retested.

Bottom of pink channel has NOT been retested and may be weak.

We just crossed the moving average.
____________________________________________________

********BUY (not advice)*********

With the little that I know at this point I would buy now. A safe selling target would be the red line that crosses our green channel just under the blue doted line.
____________________________________________________
Keep in mind, if held for longer. There is the obvious visible resistance and also the pink trend line that I had to cut so as not to clutter the end of the graph. This resistance (though invalid) may come in to play. It connects the previous 2 lows.




Sorry I don't know the terminology yet but will pick it up as I go along..

I'm simply showing my current limited knowledge of TA. Any constructive criticism is always appreciated. A lot of this stuff I made up on my own. Like discovering that trend lines, once broken, are not obsolete. (I now know that I'm not the only one that does this)

Also I used to use trend lines to mark bottoms and tops of channels. I switched to channels based on this site.


Same goes for the candle stick chart, this is the first time i use it. not sure which one is better though.


** This stock was chosen because i thought it would be interesting to use a talked about stock on these forums
 

Attachments

RNOW fail..

Was supposed to be in the green channel but didn't :confused:

Any thoughts/areas of study i should start at ?

you can look above for thought process.


I hope this uploads properly





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