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 Posted - 03/02/2012 16:05:59   |
| Today
was not good for me. 3 stopped out, 1 small profit take, and 3 small
losses. It didn't help that I exited on the market's low of day at
1:30E. |
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| Posted - 03/02/2012 16:21:30 |
| ...how
does that saying go. Experience is a hard task-master, but a fool will
learn by no other? For those who have offered guidance "thank you" and
you'll be pleased to know that I closed all positions by the close
today(not so sure I'm thrilled about the outcome though). An have
chalked today up to a very expensive lesson of when to enter and when to
just sit tight and watch. I did a scan last night and charted/sorted
out the details an came up with 5 options for the day NFLX, JAZZ, GMCR,
HUM, and ALXN. Talk about an exercise in buying high and selling low! I
watched from the open, and waited, and waited and then finally when
NFLX, ALXN and GMCR were still going up at around 9:20 (central)I bought
in and held on. With each slight uptick most staggered and corrected
slightly, like it was coming back, but to no avail. So today I have
given back aroun 5K to the pool. That said however, in the long run it
is probably better than being down double that on monday with either a
slow start or a gap down over bad news. Hope some of ya'll did better.
Looks like I'm reading and studying how to enter and exit over the
weekend! |
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| Posted - 03/03/2012 13:14:25 |
| Thanks
for the thread tachyonv...will study it the rest of the weekend...had a
TS account several years ago and it's good to be back. |
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| Posted - 03/03/2012 15:23:13 |
cam111,
are you talking about scanning daily for candidates using tachyonv
method or your own method? also, is that 5K loss from today or from
whatever you were carrying? my only advice left to you would be to stop
trading size. Even if you have the money and can afford losing 5K a day,
dont... there is no reason for that...trade 100 shares and dont average
in anything... try tachyonv method with 100 shares until you get it
right... those are my final words to you as advice in the spirit's of
sharing as tach has done..
bwjr, that is life... a few of my
trades became profitable towards close, but never assume that will
always be the case, it could have just continued going lower and
lower... so am happy with the small loss ... I made money trading
commodities today so is not like the day or week was a loss...
benuchcale,
I use marketdelta as my single charting platform with IQfeed.. it is
fast, easy to customize and write indicators for, and it consumes very
little resources even with 20+ charts up... systems design and back
testing is somewhat limited, but allows for quick prototyping of ideas..
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| Posted - 03/03/2012 17:22:30 |
| Used
patience with ALXN and made my goal, but waited till near end of
session. Blindly went into RRC, but in retrospect I should have avoided
this energy related stock with the underpinnings of the strong dollar.
Overnight positions dont usually worry me as long as I have some type
of hedge in my short term or long term portfolio. It was a very odd day
as Fridays can sometimes be that way. |
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| Posted - 03/03/2012 23:28:22 |
OK
Team, I could use some suggestions with entry/exit for this strategy.
Am I trying to buy at the lowest price point or trying to catch an
upswing? With the stocks that move alot (NFLX) I would get stopped out
at a 2x trailing stop only to see it climb past the profit target. Tach
instructed to not let a profitable trade turn into a loss. What is an
appropriate trailing stop and/or is there another profit preserving
strategy?
Ottrader - thanks. No, that was my beating for the
day. Psycologically I'm looking at it with the view that a loss with a
closed position is better than starting a new day with a losing
position. Fact of the matter is that I have ground to make up, so why
restrict myself to trying to make it up on that very position. Hope
that's the best way to approach it.
Thanks again for the feedback/suggestion, I'll pull back to 100 share lots. |
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| Posted - 03/04/2012 09:14:45 |
quote:
Originally posted by cam111
OK
Team, I could use some suggestions with entry/exit for this strategy.
Am I trying to buy at the lowest price point or trying to catch an
upswing?
please read the first post...
all your questions were answered there thus far. I will
highlight/summarize what i see as your problem..
Trade:
-
Buy 1,000 shares at a low price between the open and 10:45 AM Central.
Much of the time, the best prices are between 9:15 AM Central and 10:30
AM Central.
- Sell 1,000 shares after price has risen $0.52/share, the two pennies to cover commissions.
Advice:
- This method works well a high percentage of the time but not 100%.
- Often the lowest prices of the morning are between 9:30 AM and 10:30 AM Central.
-
Study the history of each symbol to see if there is a recent repeated
pattern of such lows. Often the highest price is at 12:35 PM Central
followed by a decline. Sometimes, not infrequently, prices rise around
1:00 PM Central, a bit more often after 1:30 PM Central.
- Watch %R, Vol indicator, KC for visual clues, which with practice will become obvious and instinctive.
-
This is a high win rate method with relatively low risk. If you are not
achieving 80% to 93% win rate or if you are suffering a large loss once
in a while, then you are probably not trading with sufficient
self-discipline, and/or too impatiently and/or not paying enough
attention to/understanding the indicators. Or gambling greedily by
buying more than 1,000 shares per symbol per trade – which is poor
risk/money/position sizing management.
- Judgment is required for
entry and exit, watching the indicators and time. This is not a good
candidate for automated trading. It appears to be simple enough to
automate, but trade this manually for a month or so, and you will see
why this is not such a good automation candidate. |
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| Posted - 03/05/2012 08:38:11 |
quote:
Originally posted by tachyonv
If
I suddenly disappear from this forum and all others on March 8 or
thereabouts, it will be because TS no longer functions due to its port changes.
May have to switch to a different brokerage. What blockhead at TS
thought up getting tens of thousands of clients to manually make all of
those port settings for March 8?
I wonder how many (if any) professional Wall Street or Chicago traders have any interest in:
1. computer programming,
2. internet/network connectivity & management (port settings) or
3. troubleshooting breakdowns/instabilities in their platform/trader interface(s) with the market.
When/if my current platform stops connecting with the TradeStation trade servers
I will simply take the hint and move my funds elsewhere.
I am told that EL works just fine inside a certain competitor's platform
(in fact, it says so right on page one of their website).
Tachy - Sorry about this hijack, but you started it, lol
Now...back to Tachy's cool scalping method.
And btw, several of us have been silently reading (now over 10,600 views !!!) your very interesting thread.
-Scuba Steve 
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| Posted - 03/06/2012 12:02:56 |
quote:
Originally posted by split
2 loosers yesterday on NFLX total -.62
1 winner today NFLX +.52
quote:
Originally posted by bwjr
PRGO -.50, REGN -.50, VRTX +.52
It takes a brave soul to publically admit to losing money so I thank you folks for being so honest !
As presented (originally anyways) Tachy's system was long-only which works well in up markets.
This morning has not been an up market.
I look forward to folks discussing taking Tachy's system rules both long and short.
-Scuba Steve
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| Posted - 03/06/2012 13:05:40 |
Repeat of my post from the other day (think Saturday) when forums were having posting issues -
On 1 minute Dow chart a double top, then break below a previous swing low. Pretty routine if you ask me:
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| Posted - 03/06/2012 13:11:09 |
Scuba
Know
what you mean, its really easy to post the winners and forget about the
losers which gives a false impression in the post so I'm happy to post
my losers so as not give the impression I am getting all winners.
Still maintaining a 80% winrate on smallish size and nice to get a winner on a down day.
Heres hoping tach is willing to share some more stuff before he leaves due to the Ports issue on 9th. |
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| Posted - 03/06/2012 13:15:04 |
quote:
Originally posted by split
Heres hoping tach is willing to share some more stuff before he leaves due to the Ports issue on 9th.
The "ports issue" may turn out to be a "non-issue" for most of us, kind of like Y2K was. Ed Yardeni, are you listening?
**********************
Stomach flu? bummer.. Have you tried activated charcoal? It absorbs the baddies. |
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| Posted - 03/06/2012 14:17:33 |
This
is great strategy. What I call it as "shake to support". usually at
open during chop stock shakes to support and then rallies to noon.
Beware
though this works only in bull market. Market may be moving to
correction mode so this may not be great till market back in bull mode. |
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| Posted - 03/06/2012 16:07:12 |
Tach,
I
haven't traded stocks for years, but this thread inspired me to look
into them again, and I have to say this is great. I've been so
futures-focused have overlooked the potential in stocks. I'm using a
different entry method so I don't want to hijack this thread, but
shorted ACAT overnight, and long FOSL just before 2pm Central this
afternoon.
Just wanted to say thanks for sharing and hope you're feeling better.
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| Posted - 03/06/2012 21:56:16 |
quote:
Originally posted by Scuba Steve
I am told that EL works just fine inside a certain competitor's platform
(in fact, it says so right on page one of their website).
-Scuba Steve
.. + no monthly platform fees + portfolio level simulation at no extra cost
Sorry for hijacking this thread 
Altho I don't trade discretionary but I would also like to thank Tach for sharing his method for the discretionary traders |
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| Posted - 03/07/2012 11:50:34 |
no trading last several days - back problems but played OPEN for +.45 this morning.
tach,
I appreciate your stock trade postings. Not so much interested in what
you made or didn't make, as much as which ones you selected. Thanks. |
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| Posted - 03/07/2012 13:47:59 |
Having
studied Tach's entry points - particularly the ones he was very precise
with on 15/2, it appears to me that on the 'entry' bar he opens the
position after the bar has opened and before it ends. Have I got that
right?
If so, would anyone be willing to share with me how that
works. On the face of it there would appear to be the possibility of
false entries with price reversals.
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