maxbasily
57 posts
msg #55152
- Ignore maxbasily |
9/24/2007 8:42:58 PM
I just read "wait for green" - frankly nothing new. 5 mn charts with MA crossover on decent volume..
and again ( as with 99% of internet bloggers): they show the successful ideal days, but how many out of 100 do you get??
going in and out, reversing positions on some mainstream indicator, doing 20 positions a day...that´s not how I want to trade gaps.
am looking for a 60/40 % winning setup with risk/reward at 1: 1 based on each 100 trades - without the craziness of reversing in and out all the time...
shoot some ideas at me!
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TheRumpledOne
6,411 posts
msg #55153
- Ignore TheRumpledOne
modified |
9/24/2007 8:46:03 PM
You can do what I do... JUST TRADE AAPL EVERY DAY.
By trading the same stock, over and over and over again, you learn HOW TO TRADE.
You learn from your mistakes.
Also, if you pay attention, you do NOT miss the big moves that can make up for all your mistakes!
AAPL has volume, volatility and range.... never a dull moment.
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maxbasily
57 posts
msg #55154
- Ignore maxbasily |
9/24/2007 8:47:00 PM
rumpled, just read ur latest response...
ok, concrete question:
if the gap doesn´t start filling by 10.30 a.m. (or you get stopped out on your 1st try) - do you go for it again after the doldrums or no gap-fill chasing in the afternoon??
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TheRumpledOne
6,411 posts
msg #55156
- Ignore TheRumpledOne
modified |
9/24/2007 8:50:49 PM
MAX:
I am a scalper.
If I own something for more than 2 minutes either it's a mistake or I am on a roll.
If the gap isn't filling, then I am trading in the other direction.
It's not that hard.
See THE BUY ZONE on www.kreslik.com
By 10:30 AM, I probably have a dozen or more trades completed.
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maxbasily
57 posts
msg #55157
- Ignore maxbasily |
9/24/2007 8:56:14 PM
yep, you´re the TRUE day trader..
I take quiet statistically good daily swing trades
will be playing around a little with aapl, goog etc..see what happens
thx!
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TheRumpledOne
6,411 posts
msg #55182
- Ignore TheRumpledOne |
9/25/2007 12:43:41 PM
Did you take advantage of the AAPL gap fill today from 146.84 to 148.28?
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maxbasily
57 posts
msg #55223
- Ignore maxbasily |
9/26/2007 7:25:51 AM
no, filled 50% of the ES move.
still a little nervous filling these high flying stocks..
the way I figure it is: the aapls, googs etc.. (if not a really specific company news day) are still tied to the ES bias of the day - the only difference being that if the ES goes against me because some sectors are falling there are ample other sectors that can hold - and that gives it a higher chance of not falling "endlessly".
so in other words, better control,less gamble.
obviously aapl is "more money" ..
have you had any experiences if I go for the long fill on aapl, and at the same time hedge with the appropriate value of SPY shorts...over time, you think this could stabilize risk/reward per trade?
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TheRumpledOne
6,411 posts
msg #55233
- Ignore TheRumpledOne |
9/26/2007 8:27:52 AM
Max:
NO. My goal is to keep things simple. Trading is simple. Don't complicate matters.
Just draw a couple of lines, if the price crosses above a line go long, if below go short,. Money management takes care of the rest.
That's all there is to trading.
All the rest is smoke and mirrors.
What's behind the curtain of OZ has been exposed!
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maxbasily
57 posts
msg #55245
- Ignore maxbasily |
9/26/2007 10:10:32 AM
I agree here.
I try to "buy a pretty girl a nice dress to make her even prettier"...you seem to prefer them naked..))
just closed my ES short position at 50% fill again
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