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 Posted - 03/14/2013 16:10:26   |
| The point of the question using CTXS as an example when did you determine that it was a loss and needed to exit? |
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| Posted - 03/14/2013 18:58:17 |
tachyonv,
Traders have different routines as to what time they start looking at the markets. I know of some traders that
Start looking at the markets at about five min. after the markets open and you have said that sometimes you enter
a trade in the premarket. Do you have a daily routine as to when you start looking at the market?
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| Posted - 03/14/2013 23:41:17 |
| Thanks
for your response. I understand that this method is based on time
cycles and I understand that you exit at 12:30 unless the profit target
hit. However in the initial post that started this thread you mentioned
that you will not let it draw down more than $.52. So I would assume
by that you will exit earlier than 1230 if that happens. That is why I
asked the initial question wanting to confirm that you will risk up to
$.52 to make $.52 - but you said that wasn't the case in answer to my
risk/reward question - What would make you exit early if you needed to? |
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| Posted - 03/15/2013 17:48:56 |
Tach: thank you for sharing this trading wisdom.
I have spent that last few days going through the entire thread and making notes. Sixty separate points.
This
is exactly what I am looking for. A really boring way to pull a few
hundred out of the market every day. Hell, $50 bucks would be heaven.
All this to say, thank you. I will strive to be a worthy student.
==
With healing, visualize the health you wish to manifest. - Thomas Warren Campbell (Physicist)
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| Posted - 03/16/2013 01:18:27 |
My .20 (10 x .02) for those starting out with a caveat I trade a very
conservative version of this strategy. I took a few more successful
trades this week, only traded 3 days, fishing the other days. Here are a
few things I look for or am trying to do (after generating a candidate
list):
1) Track the recent 1-2 week intra-day volatility when selecting a candidate stock,
2)
The current bid/ask spread and liquidity, keep these in mind when
selecting your stop loss and targets. Be sure to use targets (if scaling
out) that are slightly under resistance levels and dont forget how the
bid/ask spread will affect your targets. A lot of these stocks,
especially early in the day may have .06-.15 bid/ask spreads which is
significant when u are potentially looking at a .50 move either way.
3)
Initially only follow a few stocks or ETFs. Use daily charts so you
know where the prior support/resistance levels are before entering a
trade. Dont get caught trying to achieve a target beyond a daily chart
resistance or pivot levels. For sure there will be days when all the
stocks/etfs you are not following are doing just great but you chose a
dog kennel that day. Try to learn how you can improve and don’t try to
make your 1st million this month.
4) One of the most important
things I feel is looking for trading candidates with a 2-5d high beta to
the SPY. This is something you should know prior to the market open.
Like recently DECK and KSU are strong candidates along w/FAS while
trying to trade BIDU and SINA you would feel like your swimming
upstream. If I am not comfortable w/any one but I like the SPY setup
then I trade UPRO or SSO. Don’t be the guy who says he traded SINA off
the bottom instead be the guy who says I got a lot of errands done today
after my KansasCitySouthern trade hit its target in less than an hour.
5)
Look to enter a trade when you see intraday strength in the SPY
(indices) like after a pullback/consolidation on the 5minute chart. I
personally now only enter a candidate trade when I see a 5minute bullish
SPY bar and I feel SPY has built a support area near by. If SPY falls
thru this then I am out of the trade no matter where the stock is at. I
personally do not trade until I see strength in the indices. It doesn’t
matter if a stock is up 5% for the day if the SPY is falling over, I
wait.
6) I wouldnt get hung up on the .52 target, there are
alot of obstacles along the way of hitting that target. Tach has
mentioned about a dozen times he will exit his positions prior to this
depending on the market. I have found scaling out of a position when it
approaches a intraday resistance level or the daily high a safe way to
have a consistently high win/loss ratio. I typically will let the last
1/3-1/4 run. Are you looking for a target which is a weekly, or 52week
high? or is it below the intraday high? It is true you will not be
hitting $500 everyday listening to me.
7) Dont chase an entry.
You should always be monitoring the current overall market pattern on
the 5min, 15min and daily charts looking for signs of strength. Then
have a few candidates stocks that are stronger than the market at this
time on this day, all of this prior to taking an entry. You should be
sizing up where your stops will be, how many shares you would buy and
your $$ loss. I have this setup in RadarScreen for all the stocks so I
know my share size as soon as an alert goes off. If you are distracted,
cant make up your mind, or scrambling around and realize the markets are
taking off without you JUST let them go. Honestly just like at the
craps table they will be back around for your money don’t be in a hurry
to give it away. I currently am only trading 200-500 shares just depends
on where the stop loss is. Don’t make impulsive trading decisions.
8)
Dont try to make a killing using this method just because there are 20+
candidate stocks to choose from and seriously dont over trade. Start
w/a comfortable share/risk size in which you could see all open
positions hitting your stop loss price points simultaneously. With the
stock market correlations you may find 10 stock setups firing off all at
the same instance.
9) There is nothing wrong w/trading this
method via the simulator until you are comfortable recognizing the
trading setups and checking your W/L ratio. If you are patient waiting
for a setup and patient letting a trade develop I think you will have a
very high success rate. I use to try to scalp $AAPL for .50-1.00 moves
on 150t charts so for me I am taking a 3-4 minute break after every 5min
bar waiting for a setup.
10) Once I am in a position, my 1st
target is out there and my stop alerts are set I then try to make myself
get up and walk away or focus on something else. Don’t babysit the
trade, you have already committed to losing a predetermined $$ amount.
If that makes you nervous then you are trading to large. I will go back
every 5-10minutes to see if I want to adjust any target or alert and I
will monitor the indices, play some with the new kitten or the new
rescue dog waiting for an alert. You may find having patience to let a
trade develop the hardest thing to do. If so it is probably because you
have taken too many losses in the past or you are trading w/money you
really have not committed to losing. This will make you twitchy or
jumpy.
Finally as you get more proficient with the strategy (I
am not there) and understanding the different stock's time cycles I
think you could take on more risk by having multiple positions open
concurrently and/or by taking on more size. If you read thru this thread
carefully you know Tach was trading a variation of this idea back in
the 90s so thinking you can jump in and be as successful as he is may be
naive. I think even if you are a veteran of 100 trading years just take
your time and ramp up and don’t try to skip to the “I make millions”
chapter by the end of week 1. It is not complicated to execute but does
take patience. Everything above I have gone thru not once but multiple
times and experienced using this method. Hopefully it will save you a
few $$ along the way.
Rob
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| Posted - 03/28/2013 10:19:21 |
Hi Tach,
Can
you give me your thoughts on whether you would have traded LULU today
or more specifically entered at 10:30? I took the trade and exited a few
minutes ago w/a small profit. I was wondering if maybe the daily chart
would have kept you away from this one? I liked the support level at
61.88-.82 from the daily chart was a big reason I chose this one.
Though watching the markets breaking out to new highs today and with LULU price stagnant for more than 30minutes I let it go.
Thanks,
Rob |
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| Posted - 03/28/2013 11:59:03 |
Good
to know. About 10 minutes after I exited LULU breaks out and would have
hit the .52 target. My concern was since LULU didnt participate in the
up move it would have caved in when(if) the markets pulled back so I
exited. The markets stayed up long enough for the LULU wary buyers to
jump in and move it to 62.60. Though I would have passed on LULU if my
VMW order would have gotten filled at 9:00CST. I was about 3-5seconds
too slow placing the VMW order.
I considered the SINA trade at
9:30CST, my alert triggered. I am liking the SINA, BIDU daily charts so
will have them at the top of the watch list for a few days.
Looking
at the CERN 5 minute chart I dont know enough yet to enter that one.
Though looking back, the 9:10 CST bar (93.15) then using yesterdays high
(92.85) for support would have been a reasonably safe/smart play.
Thanks for the notes,
Rob
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| Posted - 04/09/2013 14:23:37 |
BIDU 500 shares long at 10:02am EDST at $84.15
BIDU 500 shares sold at 01:37pm EDST at $84.55
Up $200 minus commissions (using the simulator)
Playing
around in the simulator for a few days. I had to stop using my trusted
old rules and just relax with yours. Today is the first day, I was
able to let go and just follow the rules and methods as defined in the
first message in this thread.
Also noteworthy, while in the
trade, I learned a lesson about picking a few better stocks out of the
list (the list produced by following tachyonv's rules and process
exactly as written).
Had a rough go at the long duration of
red during the beginning of the trade, but decided to go with the rules.
I did do a lot of reflecting on the weekly, daily, and hourly
analysis, Motley Fools, etc on BIDU. Should have known better. Still
feels good knowing "I" learned something in the process. I walked away
from the screen several times during the trade and was pleasantly
surprised how well this system worked for me today and how well it
worked for all of the other better choices I didn’t choose today!!!
Thanks
Tachyonv for sharing. This process is amazing! I’ve been following
you for a long time, but always ignored this thread thinking it was a
gimmick. I’ve been looking for a way to stay in the market and not be
so restricted to the computer. This method works and is very forgiving
as long as one keeps the key points in mind.
Also, as I read
the thread, I was amused at the way you politely guided people to read,
understand, and appreciate what was being offered before 1) questioning
what should have been obvious in your description and 2) trying to
complicate an absolutely wonderful process “as it was given”.
Hoping
and praying that you are continuing to remain healthy and have plenty
of time left to enjoy those grandkids growing up. I am turning 65 in
May and am having to deal with my own health issues, too, but life is
good and I enjoy every day. ..No grandkids yet, still hopeful. On my
health, I should have been a statistic by now (twice), if it had not
been for the quality of medicine we have had here in the good old USA.
Again, thanks for all your posts.
Rod
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| Posted - 04/13/2013 09:02:38 |
quote:
Originally posted by tachyonv
No gimmicks, have nothing to sell, Gandharva.
And
having others trade this method doesn't help my trading, in fact
sometimes am competing with others using this method, for entry and exit
fills.
Simply a gift shared with all, at a point when I was pretty sure that I was going to die.
Thanks for sharing your experience, please continue to share.
glad
you are still kicking tach... now, finish that book! :) (but make sure
to spend as much time as you can with the grand kids...) |
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| Posted - 05/14/2013 11:19:08 |
Hey Vince:
I picked up $2.68-net (after comm.) per share on a Tachy-Trade this morning on TSLA.
Thanks again for the code and methodology.
I
know it's been tough for you with the cancer business and I hope you
stick around. You have many supporters and much good will here on TS. |
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| Posted - 05/14/2013 11:53:25 |
I guess I'd better say goodbye here since TS censored your other thread. 
Best
wishes in your health and trading. Hopefully I'll run into you in some
other forum - if you don't change your mind and stay. 
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| Posted - 05/30/2013 12:06:06 |
Have
seen some good setups recently. Yesterday I found myself jumping in
early and got stopped out both times then later was patient and got a
good trade that turned yesterday into a b/e day. Today waited for a
setup and was rewarded with the target being reached. Attached is where I
entered based on the SPY setup and my exits (trading UPRO). Still
leaving alot on the table it seems.
Attachment:DATA/20130530120533SPY_5min.png 52151 bytes
Attachment:DATA/20130530120541UPRO_1min1.png 41817 bytes
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| Posted - 05/30/2013 17:41:39 |
Mushin, I looked at ur UPRO screen shot and see crazy spreads (possible sick slippage).
Whether you have a futures account or not, you might benefit from paying for the data feed to compare the emini @ES
with what you are working with :)
And why in Tarnation would List Mom delete an active thread that promotes trading?
-Scuba Steve  |
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| Posted - 05/30/2013 18:16:55 |
quote:
Originally posted by Scuba Steve
And why in Tarnation would List Mom delete an active thread that promotes trading?
Agreed!
Why in the world would TS delete this awesome trading topic that Tachy shared with us last year? 
Is something else going on "behind the curtain" that I/we missed?
Does anyone have any ideas?
Oh, and he's now offline from the Forum. His generous contributions truly will be missed. Here's a related topic on Tachy. |
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| Posted - 05/31/2013 11:00:07 |
Hi ScubaSteve,
I
would say after the first 5minutes of the open the typical UPRO spread
is about .05-.10. This is about average for stocks that meet the scan
criteria though when more than .10 I pass on the entry. I do not try to
hit an exact UPRO price when I enter because my stops/exits are based
off SPY S/R levels. When the SPY setup triggers I enter a UPRO market
order. Typically at the open of a 5min. bar.
Strange as it may sound Vince mentioned he has asked TS to remove his forum posts.
This
morning (Friday) I was late getting back from fishing and was just
sitting down when the SPY 9:45 setup triggered followed by the 10:20
signal both reached their profit targets. I am still only trading a few
symbols not the entire scan list. |
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| Posted - 05/31/2013 17:36:59 |
quote:
Originally posted by mushin2003
...Strange as it may sound Vince mentioned he has asked TS to remove his forum posts....
That does NOT sound like the same person I have been interfacing with since 2005. |
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| Posted - 05/31/2013 21:01:27 |
Think
it might related to his health situation as well as how he feels he was
treated recently by TradeStation vis a vis account info requirements
for LLC's
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| Posted - 06/01/2013 10:41:18 |
It's not always so easy to delete 1 person's posts without blowing away other people's contributions.
Remember
quark? He put together all those threads about best hardware,
software, practices, etc as a reference for the community. Some of us
put time & effort into making them more useful. Then somebody
deleted them, blowing away everybody else's contributions too.
I
also noticed the difference in tachyonv's posts. Hard to tell how
events, medical conditions & treatments (esp painkillers) can affect
people's perceptions. He's been through a lot lately. |
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