GREY1 P/L daily

[Trader333]

Paul, as always many thanks for posting and giving the rest of us a chance to learn from your trades, I am sure its appreciated by many

Good entry, but I am not too sure about the exit, as the 1 min "maki" for the <a href="http://www.trade2win.com/?=stock">stock</a> became exhausted well before your exit?

Samtron,

The exhaustion (on my setup) was at my point of exit and not before. I think there are minor differences between the various setups, indicators and different datafeeds also play a part in all of this.


Paul

 

[Nastrader]

Hi Grey1, LevII, & garethb,

Thanks for all of your prompt replies, seems I was making this more complicated than it actually needs to be. It's more clear now.

By the way, thanks for the update on your Skyp Team's trading Grey1, showing a lot of progress.

Regards,

Nas

 

[samtron]

SPOT ON CONSOLIDATION DOES NOT PAY


TRADE THE CHOAS and NOT WHEN PROGRAM TRADERS ARE AT THEIR BEST

GREY1

Grey 1, Praise from The Master is praise indeed

This must mean there is hope for me yet :arrowd: :arrowu: :?:

 

[vegas]

Ok all, would welcome your comments on the following :

Today, I found Strategy 3 difficult to trade. The day was Non Trending, however, when the $INDU was Overbought - my results at Shorting the Weakest Stock frustrated.

Now the problem could be numerous, including, my 'core list', my 'weakest stock pick', my entry/exit, my interpretation of the day, very dfficult day to trade etc etc.

However, I would welcome any thoughts on how they found the day.

 

[vegas]

Hi Again,

What would be the Strongest Stock -

a. One that has gapped up and stayed strong,
or
b. One that has trended steadily all day

Both at High of the Day, and all other 'equal'.


Thanks.

 

[Grey1]

Grey 1, Praise from The Master is praise indeed

This must mean there is hope for me yet :arrowd: :arrowu: :?:

Now a days we have more than 1 master trader ..To day Julian ( one of the 4 SKYP gang ) took an awesome LONG AKAM with 50C run His position sizing and money management has improved so much .

All in all we were all Up with myself $1030 net and the rest around $200-$250 ish ( depending on their pos size ) .. ( another tight range trading day which makes trading extremely difficult )

well done guys


Grey1

 

[Grey1]

Hi Again,

What would be the Strongest Stock -

a. One that has gapped up and stayed strong,
or
b. One that has trended steadily all day

Both at High of the Day, and all other 'equal'.


Thanks.

Vegas

These are what you should be looking for when looking for weak or strong stock

WEAK STCOK

1) currently in negative
2) trading nearest to the low of the day
3) gapped down
4) divergence

Easy peasy ..

For 2morrow start with stocks that are nearer to their low of the day and trading negative .

reverse for strong


PS:-- let market settle down first before you judge weakness or strengh .. give it around 30 min for dust to settle

LEMME KNOW 2morrow how you did ..


grey1

 

[evostik]

Ok all, would welcome your comments on the following :

Today, I found Strategy 3 difficult to trade. The day was Non Trending, however, when the $INDU was Overbought - my results at Shorting the Weakest Stock frustrated.

Now the problem could be numerous, including, my 'core list', my 'weakest stock pick', my entry/exit, my interpretation of the day, very dfficult day to trade etc etc.

However, I would welcome any thoughts on how they found the day.

Hi Vegas

I also found implementing Strat 3 a problem today so at least thats two of us!

I made 2 trades both of which I got stopped out on:

Short CSCO at 16.33 (UK time) with 3 TF MACCI INDU OB

SHORT BRCM at 20.18 (UK Time) with 3 TF MACCI INDU OB

I know that this could well be the fact that no system/strategy is 100% or even near however, if anyone is prepared to comment on what was 'bad' about my trade selection it would be really, really appreciated.

Thanks

Steve

 

[Grey1]

Hi Vegas

I also found implementing Strat 3 a problem today so at least thats two of us!

I made 2 trades both of which I got stopped out on:

Short CSCO at 16.33 (UK time) with 3 TF MACCI INDU OB

SHORT BRCM at 20.18 (UK Time) with 3 TF MACCI INDU OB

I know that this could well be the fact that no system/strategy is 100% or even near however, if anyone is prepared to comment on what was 'bad' about my trade selection it would be really, really appreciated.

Thanks

Steve

I donto have the chart of CSCO so no comments ( unless some one else post the chart )

BRCM trade


As you can see when the EE signalled exhaustion the market dropped like a stone hence the signal was awesome ..BRCM was the wrong stock because as you can see this stock has a very very low volatilty and hence was a bad choice. I am enclosing the chart ... If i was you i would not even think of trading stocks with such a volatility ,, ( BRCM can be a good candidate 2morrow but to day was a terrible candidate ..you should only see the chart to see when market had direction BRCM was direction less )

Had you chosen another stock it would have followed the market and you would be in proft.

if we get a signal on YHOO ,EBAY ,AMZN ,BRCM we give it a second thought before taking a position ,, By we I mean our group and i am sure they all confirm my statement

grey1

 

[Trader333]

In my experience 16.33 UK time is a risky time to enter a trade as the market will have started to go into consolidation.


Paul

 

[evostik]

I donto have the chart of CSCO so no comments ( unless some one else post the chart )

BRCM trade


As you can see when the EE signalled exhaustion the market dropped like a stone hence the signal was awesome ..BRCM was the wrong stock because as you can see this stock has a very very low volatilty and hence was a bad choice. I am enclosing the chart ... If i was you i would not even think of trading stocks with such a volatility ,, ( BRCM can be a good candidate 2morrow but to day was a terrible candidate ..you should only see the chart to see when market had direction BRCM was direction less )

Had you chosen another stock it would have followed the market and you would be in proft.

if we get a signal on YHOO ,EBAY ,AMZN ,BRCM we give it a second thought before taking a position ,, By we I mean our group and i am sure they all confirm my statement

grey1

Hi Grey1

Thank for your feedback (and Trader333). I didn't realise 'till then about the ATR filter/issue on stock selection so 'cheers'. As usual, it makes a lot of sense once you have spelt it out! I will add that to my toolkit straight away.

Regards

Steve

 

[Nastrader]

Hi Vegas

I also found implementing Strat 3 a problem today so at least thats two of us!

I made 2 trades both of which I got stopped out on:

Short CSCO at 16.33 (UK time) with 3 TF MACCI INDU OB

SHORT BRCM at 20.18 (UK Time) with 3 TF MACCI INDU OB

I know that this could well be the fact that no system/strategy is 100% or even near however, if anyone is prepared to comment on what was 'bad' about my trade selection it would be really, really appreciated.

Thanks

Steve

Hi evostik,

Today was just a difficult day to trade, I’ll 3rd that.

But as constructive criticism, CSCO has a ATR(14) of $ 0.45. To me it’s a stock like MSFT, INTC, etc with very narrow ranges, but very good volumes. So my recommendation is that CSCO shouldn’t even be on your watch list – ban it!! Grey1 has said that our trading stocks should have an avg ATR of around $1.5. with CSCO today it had a range of $ 0.38. I agree INDU was O/B, but it was flat at 16:33 ish. It’s very, very tough to trade a narrow range stock.

BRCM on the other hand has an ART(14) of 1.25, so that’s good, and very good volume. At 20:33 (EU) the stock price seemed to be in a very small trading range of about $ 0.06, while the O/B INDU stayed O/B. All I can suggest is to have the stock show you in it’ price movement & volume (easy for me to say now), which way it will move.

It’s easy to see this in hindsight, but today was a difficult trading day.

Nas

 

[evostik]

Hi evostik,

Today was just a difficult day to trade, I’ll 3rd that.

But as constructive criticism, CSCO has a ATR(14) of $ 0.45. To me it’s a stock like MSFT, INTC, etc with very narrow ranges, but very good volumes. So my recommendation is that CSCO shouldn’t even be on your watch list – ban it!! Grey1 has said that our trading stocks should have an avg ATR of around $1.5. with CSCO today it had a range of $ 0.38. I agree INDU was O/B, but it was flat at 16:33 ish. It’s very, very tough to trade a narrow range stock.

BRCM on the other hand has an ART(14) of 1.25, so that’s good, and very good volume. At 20:33 (EU) the stock price seemed to be in a very small trading range of about $ 0.06, while the O/B INDU stayed O/B. All I can suggest is to have the stock show you in it’ price movement & volume (easy for me to say now), which way it will move.

It’s easy to see this in hindsight, but today was a difficult trading day.

Nas

Thanks Nas

OK, I am convinced! I will remove CSCO from my stock list.

Cheers

Steve

 

[Nastrader]

Ok all, would welcome your comments on the following :

Today, I found Strategy 3 difficult to trade. The day was Non Trending, however, when the $INDU was Overbought - my results at Shorting the Weakest Stock frustrated.

Now the problem could be numerous, including, my 'core list', my 'weakest stock pick', my entry/exit, my interpretation of the day, very dfficult day to trade etc etc.

However, I would welcome any thoughts on how they found the day.

Hi vegas,

I do agree that today was not an easy day to trade, with Strategy # 3, or any other. I’ll share my thoughts though. I’ve attached an excel sheet that I also copy & paste into one of my excel sheets to “get a feel for what the market & sectors are doing.”

I’ll leave the TA to Grey1’s posting, he is the Master Trader & is the # 1 method of trading.
But I’ll give my take on how I obtain a feel for the market/sectors with data.
The net changes for the INDU was weak, till about EOD.
The Sectors on my watch list had Metals ($XAU = +2.08 %) positive most of the day, while the Tech & software ($SOX= - 1.02% & $GSO = -0.86%) were fighting as the weakest, all EOD “%.” So there was a little divergence in the sectors (minor issue).
I like to look at the Adv/Dec Vol which was negative all day. I put these posts into my excel about once an hour, and makes me look at the #’s, so I can pay attention to them. The market was difficult for me to interpret, which seemed as if it was range bound. I only use this data to to give me another data point (minor influence) to support INDU's O/B or O/S conditions. but mainly if I can ID what Market condition is it in = Trending, Oscillating, or consolidation.

FWIW – I made 3 Long trades, where I could only average $ 0.10 gain/ trade today (I was extra cautious today). Did use INDU’s O/B, O/S conditions, & forfutantely, no losses today & practicing Grey1's strategies using the Market conditions first. Note that the last hour in the attachment was taken 6 minutes before EOD.

Hope this helps - Note: I don't necessarily mean for you to do this, but at least have some of it on your platform to review from time to time - to obtain a "feel" for the market (the big picture).

Nas

 

[vegas]

Vegas

These are what you should be looking for when looking for weak or strong stock

WEAK STCOK

1) currently in negative
2) trading nearest to the low of the day
3) gapped down
4) divergence

Easy peasy ..

For 2morrow start with stocks that are nearer to their low of the day and trading negative .

reverse for strong


PS:-- let market settle down first before you judge weakness or strengh .. give it around 30 min for dust to settle

LEMME KNOW 2morrow how you did ..


grey1

Thanks Grey1, very useful.

Re the 4 items above I need to have lined up - if I don't have the 'gapped down', but the other 3, is it still a tradeable candidate, or do I need all 4.


I shall feedback again tomorrow night.

 

[Grey1]

Thanks Grey1, very useful.

Re the 4 items above I need to have lined up - if I don't have the 'gapped down', but the other 3, is it still a tradeable candidate, or do I need all 4.


I shall feedback again tomorrow night.

Stock MUST be in negative territory when you take the trade..

Grey1

 

[vegas]

Thanks Grey1, Evostik and Nas - it's very reassuring after a day like today to know I was'nt the only one to find it difficult and 'hard going'.

 

[evostik]

Stock MUST be in negative territory when you take the trade..

Grey1

Hi again Grey1

Sorry to a pain on this but I feel its so imortant to understand. When you say "negaitive" does that mean lower than 'open' (below gap down) or just lower than yesterday close? (if you see what I mean).

Thanks

Steve

 

[Grey1]

Hi again Grey1

Sorry to a pain on this but I feel its so imortant to understand. When you say "negaitive" does that mean lower than 'open' (below gap down) or just lower than yesterday close? (if you see what I mean).

Thanks

Steve

Sorry

BELOW YESTERDAY CLOSE ..


grey1

 

[vegas]

Excellent comments, it really has given me some further 'food for thought'.

If I may I am going to post below my 'core list' for today (and most days to be honest !), please if you could make some comments, however critical - too small, too large a list, wrong weightings, not enough violatility, obvious ones that should be excluded/included...............can you please provide some direction.


AAPL
ATI
AKAM
BRCM
CAT
DO
EBAY
EOG
INTC
JOYG
MRVL
NOV
NUE
NVDA
OXY
PD
RMBS
SLB
SNDK
VLO
X
YHOO
RIG
TSO
NVEC