My reading of the 30 minute chart is that you dont want to still be long if it goes below 74.50 even though 72 off the weekly would likely be support this time around but why not lock in profits and re-enter at a better price if we do get that 72 support. On the monthly id say there is room on the upside until 85 ish where you may run into sellers MAYBE...
Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
If I were an investor, entered the trade at the ~$66 level, looked at the monthly chart I would just sit on my position and wait for the eventual recovery back to ~$100-$120 in maybe a year or two and during all these time have a 3.25% dividend to help pay some bills.
If I were a swing trader looking at the daily chart, perhaps I need to take profit, or put in a trailing stop and....
As a day trader, I closed my position back in June, on a daily basis, I need to trade in and out, really don't know what to do looking at the 30 min chart, or the 5 min chart:
Where do I get in and out? I had been staring at the real time charts for at least a couple of weeks and still have no idea. Easy to see after the fact but in real time?
Regards,
I don't know if a posting I made years ago in a thread titled 'The TREND is your friend.. The biggest lie ever!' will be of help or interest to you regarding trend lines.
https://www.elitetrader.com/et/thre...e-biggest-lie-ever.295480/page-5#post-4201408
You caught me on a bad day.. having some trouble dealing with a thick solicitor !
Plain and simple..no reward without risk..the higher the reward..the higher the risk..never forget this basic fact about trading or investing..no matter what any idiot or salesman tries to tell you otherwise.
If you want more profit in GILD..then you must take on more risk..you might make more..or you might lose back some..either way the choice is yours..no one else.
There is no immediate sign of a bear stampede..but that does not mean it can't happen..if you have no plan in place..then you will be very upset if markets head south..so..the simple answer..is..do up a plan for various scenarios..and find out what measures you need to put in place..if..and when.. required.
Plain and simple..and forget about all the rubbish talk about nothing..get your plan done..if you can not do it..for whatever reasons..then you should ask yourself what are you really doing..just gambling !!!
This of course is the big question..and is what will make or lose you money!
Some years ago..I stumbled across a painting review on the web.. can't remember the artist it was so long ago..but I do remember the review was about how important the colors were.
Of course..with trading things are never simple..but the color can be very important at times..it should not be that hard to work out why some times are more important than others.. especially in relation to your question!
This posting contains little substance.
Yes, I have a plan now. Thank you for your coaching.
Mr Scalper spoke in parables. I had to think real hard to find meaning but often couldn't. His general advices however are spot on. Yes, you can say he just stated the obvious but often the obvious is not so obvious.
In a more serious note, looking back at my trades of the past year and comparing them to daily and weekly chart patterns + TA (I don't day trade), I could see perhaps better entry and exits so I am learning something new here. But mind you these are after the facts and I still do not trade with charts or TA.
Intraday charts, that is a different story!
Regards,
Mr Scalper spoke in parables. I had to think real hard to find meaning but often couldn't. His general advices however are spot on. Yes, you can say he just stated the obvious but often the obvious is not so obvious.
In a more serious note, looking back at my trades of the past year and comparing them to daily and weekly chart patterns + TA (I don't day trade), I could see perhaps better entry and exits so I am learning something new here. But mind you these are after the facts and I still do not trade with charts or TA.
Intraday charts, that is a different story!
Regards,
I think part of what they are talking about on this thread and other threads by TFF is that TA is bullshit.
