Evening trading US shares

[temporarilylight]

todays trades:

 

[timsk]

TIMsk
Remember when i said we must always use top down approach and you said Mr chart looks at the Index future ,,,, I left the argument at that point because I did not want to cause more trouble ,,, but what is the point of just looking at an index without having a technical approach to market cycle,,, what difference does it make if I keep starring all day at any leading indicators ? ,, Not much ,,,,, what matters is this,,, market goes through a cycle which some times gets distorted by marco/Micro economical and instrumental news but once the climax has settled the market path is predicable and measurable and it is our task to learn and tame and trade in the direction of the market.

Boring boring boring I know but this is it guys ,, TA is all about cycle,,,,
grey1

Hi Iraj,
Thanks for the feedback although I'm afraid to say I'm more confused than ever! I admit that I know next to nothing about market cycles. If I've understood you correctly, you appear to be saying that it's fine to go long a technology stock - for example - when its sector is in the early to full recovery stage of a bull market, even though the market moves down sharply on the day of the trade? What puzzles me is that if a given sector (and some of its constituent stocks) are out of step with main indices, surely this would stick out like a sore thumb on a chart?
Like leovirgo above, I had thought (prior to your last post) that you focused on market direction on the day and endeavored to keep step with it. Certainly, anyone trading the U.K. market today would surely look at what the UKX was up to and be extremely wary of opening any long positions regardless of how bullish the set up may appear on any one stock. Going long today would be very bold and extremely risky - I would have thought. (See chart).
I apologize if I'm being really dim about this; perhaps someone else can shed some light on this if you are unwilling or unable to do so? That said, you mentioned that there are a ton of books on the subject of market cycles - can you recommend one please? Given your comments, I'd certainly like to investigate some more.
Cheers,
Tim.

 

[Grey1]

Hi Iraj,
Thanks for the feedback although I'm afraid to say I'm more confused than ever! I admit that I know next to nothing about market cycles. If I've understood you correctly, you appear to be saying that it's fine to go long a technology stock - for example - when its sector is in the early to full recovery stage of a bull market, even though the market moves down sharply on the day of the trade? What puzzles me is that if a given sector (and some of its constituent stocks) are out of step with main indices, surely this would stick out like a sore thumb on a chart?
Like leovirgo above, I had thought (prior to your last post) that you focused on market direction on the day and endeavored to keep step with it. Certainly, anyone trading the U.K. market today would surely look at what the UKX was up to and be extremely wary of opening any long positions regardless of how bullish the set up may appear on any one stock. Going long today would be very bold and extremely risky - I would have thought. (See chart).
I apologize if I'm being really dim about this; perhaps someone else can shed some light on this if you are unwilling or unable to do so? That said, you mentioned that there are a ton of books on the subject of market cycles - can you recommend one please? Given your comments, I'd certainly like to investigate some more.
Cheers,
Tim.

This me for the day ,,

Timsk,

When I talk about cycle I am not refering to trend.. What happend to day and yesterday was a down trend. Even on a strong down trend like to day and yesterday market goes through postive and negative cycle.

Most books on cycle analysis are for postion traders but for day traders you can save yourself loads of hassle and try one of these ELS files,,, This is a good step to guaging cycles hidden in a trend,,

http://www.traders.com/Documentation/FEEDbk_docs/Archive/052005/TradersTips/TradersTips.html
or

http://www.traders.com/Documentation/FEEDbk_docs/Archive/052004/TradersTips/TradersTips.html

Please let me know if this helped
Grey1

 

[dvdh]

Thanks mate. Was away for a few days. You`re right, Trade Ideas does give a lot of signals. Too much for one person. Never used Esignals turbo scanner, but esignal is my main window in to the markets! Any experience of it ?
CHeers CT

The gainers/losers list and heavy volume list isn't too bad. For the rest, I do it all manual. go through briefing.com and set some alerts in esignal.

 

[Grey1]

Ok This is me up until now ,, I may trade the close but for the time being up over $1400.

USU was a terrible trade not because I was in the wrong stock as far as technical was concerned( I made $700 which I did not take off the table ), only because I was long 3800 and I could not dump the bugger when the market phase turned from pos to negative,, USU spread widened as they often do ,, program traders hit the stock when S&P sold off and I got caught in an illiquid stock ,,

The good news is I was waiting for INFN to start trading as it was an IPO and I had already consulted my previous work place about the stock which saved my BLOG for the day ,,

All in all,,, A very good day ,, where else on this planet you get paid so much $$$ in such a small time,,

One more Mucahs gracias is due for getting the market like pregrine getting a pigeon

Grey1

 

[Trader333]

Iraj,

When you traded KLAC and GILD yesterday were they 2 of the 6 stocks that you have previously said that you select before the market opens ?


Paul

 

[Grey1]

Iraj,

When you traded KLAC and GILD yesterday were they 2 of the 6 stocks that you have previously said that you select before the market opens ?


Paul

I never traded GILD, it is not one of my core stocks , I donot think I have ever traded GILD because I donot have the volatility envelope for that stock .. I did not trade KLAC either ,, I only traded couple of hours as I was involved in trouble shooting on Auto Trader with the programmer,... There is how ever a liklihood that KLAC was one of my picks for the day ,,

As you can see in this attachment KLAC was a short candidate for to day which AutoTrader traded it ( testing the engine ) .. Would that be any good to you if i posted the Auto Trader's trades with their P/L for to day ?

 

[Grey1]

This is the final deal ,,,, Up over $1600. Did not trade the afternoon seriously ,,as I am still trying to sort out the programming issues we have,,,

 

[Trader333]

Iraj,

Sorry I meant AMZN and BRCM, were these 2 of your premarket selections ? (I wrongly copied and pasted KLAC & GILD from a previous post)


Paul

 

[Grey1]

Iraj,

Sorry I meant AMZN and BRCM, were these 2 of your premarket selections ? (I wrongly copied and pasted KLAC & GILD from a previous post)


Paul

YES AMZN , BRCM and AKAM were my long trades with AKAM not satisfying the Opening criteria ,,, Hence left with AMZN and BRCM ,,


Grey1

 

[leovirgo]

leo

an understanding of market Phase and what phase the market is going through ,,

when the stock is stronger than its sector and there is a divergence between the nodes of market cycle against the stock's then you have a signal.. Both BRCM and AMZN were an awesome example of such approach ,,,,

Grey1

Many thanks for your reply. I've checked BRCM with InvFisher and found that it was OS in dailychart since 25th May and hence was in phase up. On 30min chart, it had OS on 4th June and was in phase up. So BRCM was in up cycle and hence you went long on the 5th June. However, the top node didn't last long. Had the DOW didn't break down, it could move up another phase.

By 'market', do you mean Cycles for DOW in various timeframes? I found that DOW is at topnode in daily chart and also OB in hourly chart. But I am not sure how to make use of it in stock cycle vs market. I'd be grateful if you explain this .. 'a divergence between the nodes of market cycle against the stock's ..

best regards,..

 

[Grey1]

Grey1

Many thanks for your reply. I've checked BRCM with InvFisher and found that it was OS in dailychart since 25th May and hence was in phase up. On 30min chart, it had OS on 4th June and was in phase up. So BRCM was in up cycle and hence you went long on the 5th June. However, the top node didn't last long. Had the DOW didn't break down, it could move up another phase.

By 'market', do you mean Cycles for DOW in various timeframes? I found that DOW is at topnode in daily chart and also OB in hourly chart. But I am not sure how to make use of it in stock cycle vs market. I'd be grateful if you explain this .. 'a divergence between the nodes of market cycle against the stock's ..

best regards,..

lev,

This is a bit difficult to explain without a good understanding of cycles. By DOW cyle I did not mean Daily because as you see the DOW's cycle is OB( This is why i closed all my long postions 2 weeks ago ) . For day trading the nearest cycle time frame is 10 min bar please do understand this is just to simplify things. The correct time frame comes from historical perfromance of the instrument and all you have to do ( in my case the time frame is automatically detected) is to look at the turning points which matches the price action ( what time frame is shadowing the price action ) and use that, This is part of cycle threory which has been expanded from DOW theory .

Now lets explain the divergence bit,,

In top down approach traders trade in the direction of the cycle in both stock and the market,,, how ever if there is a strong divergence between the two then you can scalp the stock with lesser postion size while they are out of phase ,, Most program traders use the same principal . This is the result of ineffeciency between the market and stock which can be seen every day on all electronically traded instruments,.

GREY1


PS:- Grey1 Traded the late afternoon and took a 3200 SHORT OVER NIGHT TRADE on USU @ 19.74.. Stop loss $1600 target 4800$. I might partially cover @ 1:2 and let the rest run . I will post the result

 

[Grey1]

lev,

This is a bit difficult to explain without a good understanding of cycles. By DOW cyle I did not mean Daily because as you see the DOW's cycle is OB( This is why i closed all my long postions 2 weeks ago ) . For day trading the nearest cycle time frame is 10 min bar please do understand this is just to simplify things. The correct time frame comes from historical perfromance of the instrument and all you have to do ( in my case the time frame is automatically detected) is to look at the turning points which matches the price action ( what time frame is shadowing the price action ) and use that, This is part of cycle threory which has been expanded from DOW theory .

Now lets explain the divergence bit,,

In top down approach traders trade in the direction of the cycle in both stock and the market,,, how ever if there is a strong divergence between the two then you can scalp the stock with lesser postion size while they are out of phase ,, Most program traders use the same principal . This is the result of ineffeciency between the market and stock which can be seen every day on all electronically traded instruments,.

GREY1


PS:- Grey1 Traded the late afternoon and took a 3200 SHORT OVER NIGHT TRADE on USU @ 19.74.. Stop loss $1600 target 4800$. I might partially cover @ 1:2 and let the rest run . I will post the result

USU crashed down 7% as I am writing this text ,, I made $4200 ish in no time as seen ,, The only reason I coverd early the first 3/4 was because I was trading against the market spike,, This is very in correct even though USU was crashing down ,,, Final R/R = 2.6 slightly better than the original Plan.

I was expecting the market to be weak to day and i had smile on my face when this morning futures was down 70 points but as we went through the the day the bulls took control all over the Europe ignoring Greenspan's comment yesterday .

I hope some of you shorted USU ..

MUCHAS GRACIASSSSSSSSSSSSS

Grey1

 

[Grey1]

I hope u all made a killing . Market was predictable,,, it usually is a day before PPI ,CPI announcement .

Up $ 5430 for the day with 1924 LONG CCJ @ 51.99 for 2morrow,( OVER NIGHT TRADE)

This trade will be my last trade till SEPT as I am taking time out of the market to chill out and enjoy life in awesome Marbella. Hence no More post from me till then .

I hope you guys never give up on this game ,, It is the best business on this planet.

Adios Traders

Grey1

 

[evostik]

Happy Holidays Grey1

Thank you for your sharing.

All the best to you and your family.

Steve

 

[leovirgo]

I hope u all made a killing . Market was predictable,,, it usually is a day before PPI ,CPI announcement .

Up $ 5430 for the day with 1924 LONG CCJ @ 51.99 for 2morrow,( OVER NIGHT TRADE)

This trade will be my last trade till SEPT as I am taking time out of the market to chill out and enjoy life in awesome Marbella. Hence no More post from me till then .

I hope you guys never give up on this game ,, It is the best business on this planet.

Adios Traders

Grey1

Grey1

Have a nice time there! Hope we can meet up during xmas time.

regards,..

 

[Grey1]

Thanks leo and evo,,
One of the worse side offect of itra day trading is the health isue and this is some thing I have ignored and paid for in the past ,, I am taking it easy now and enjoy life ,, No point to make loads of $$ but be in a wheel chair ,

I just closed my last trade which was Over night long CCJ mentioned above ,,, with $1800 in few min

I really hope u guys all make loads and loads of $$$ i really really do and on my return if i can help any one out I will .

Once again ADIOS TRADERS

 

[options]

Have a nice r & r Grey1

You deserve it. Health is the most important thing we have. Something that money can't buy after all is said and done.

A lot of your trades I haven't been able to follow for one reason or another.
But the experience has been rewarding and your professionalism commendable.

Have fun in the sun, son.

Oi! get a lap top, you can still trade from there. Lol!

Seriously. Enjoy the rest. And thanks for the heads on on uranium.

 

[timsk]

This trade will be my last trade till SEPT as I am taking time out of the market to chill out and enjoy life in awesome Marbella. Hence no More post from me till then.

Have a great holiday Iraj, although you'll be hard put to 'chill out' in Southern Spain in the months of July and August.
Thanks for your contributions to the thread and look forward to your return in the Autumn.
Tim.

 

[Charlton]

Thanks leo and evo,,
One of the worse side offect of itra day trading is the health isue and this is some thing I have ignored and paid for in the past ,, I am taking it easy now and enjoy life ,, No point to make loads of $$ but be in a wheel chair ,

I just closed my last trade which was Over night long CCJ mentioned above ,,, with $1800 in few min

I really hope u guys all make loads and loads of $$$ i really really do and on my return if i can help any one out I will .

Once again ADIOS TRADERS

Iraj


Have a totally relaxing time and come back refreshed in the Autumn.

Send us an e-post card

Charlton