Venice
82 posts
msg #92214
- Ignore Venice
modified |
5/6/2010 11:49:27 AM
Out of Faz again 13.57. @ .82%.
Need to wait for indicators to reset again. It had some extra growth but profit is profit. I am looking back at FAS again for another rebound. These are just too fun ;)
Like I said though, these babies are acting really really strange the last week. Before this week, they were highly predictable. Hopefully that will settle down again.
Day trade these on paper using your favorite indicators and see how you do. When you go to actually trade them in real life, trade the same way you did on paper. No emotions. As you can see, I am in out in and out.
Sometimes I take a small loss, doesn't matter, I can always pop back in. My buy and sell are completely dependent on the indicators... could care less about looking at the candle chart. When the crossovers happen that's when it's go time.
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sbuck143
88 posts
msg #92215
- Ignore sbuck143 |
5/6/2010 11:57:54 AM
you'll find here most people are more swing traders rather than daytraders (due to Stockfetchers limitations on intraday data). Is your system conducive to that at all in your estimation?
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Venice
82 posts
msg #92216
- Ignore Venice
modified |
5/6/2010 12:12:19 PM
Good Point. I have yet to really come up with a swing trade system that I have been consistently happy with. The indicators I use work best on a 1 minute chart for scalps, and a 5 minute chart for a little bit longer plays.I tend to prefer the action, but do not see why they would have any issues over a multiple day point, especially with a well defined 1% target.
I would not recommend holding these ETF's over night.
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acfncp3
59 posts
msg #92261
- Ignore acfncp3 |
5/6/2010 10:24:08 PM
Isn't 1 percent a day a compounding number .. so at some point you would be violating a lot of position sizing rules.
But thanks for the reference to MTC ... I have been reading some of the archives and trying to test them using TOS simulation. It seems pretty remarkable.
So far I've gotten that you set the previous close as the target, and then fade to it from the open +/- .10. Still not sure what the take profits signal should be.
I've heard that gap fills occur 80 percent of the time but the thread showed goog fslr and aapl as the stocks that qualify. . Is that because they have a better then 80 percent chance?
I wonder if there is a problem with whiplash with this method. ... AAPL on the 1 min simulation is a really wild animal.
I still not sure what the mid line is used as.
I take it that the stop loss is the other side of the buy zone +/- .10.
Are there any pros here that are good at using this technique. I was hoping to try it with options on AAPL and was wondering if that was feasible because of things like delta lag where the value does not keep up with the actual stock. But with aapl at it's current high values I can't see using the actual stock any time soon.
Thanks again ... I'm still reading the archives but could use some insight with people that are doing this day in and day out. After todays huge lost in the mkts I wonder what this MTC will do tomorrow.
Bill
Are there any pros here that are consistantly using this MTC
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acfncp3
59 posts
msg #92292
- Ignore acfncp3 |
5/7/2010 11:03:12 AM
Well what a wild ride !!!!!!... I just used 2 contracts at market orders instead of limit orders ... and I'm profitable and out, even though it set up as a long trade to fill the gap.... I closed the position as it filled the gap. From reading the archives you can play either way once it fills the gap .... which were profitable puts ... thanks for the system .... it made me money today.. but I have a question...
After aapl filled the gap at what pt do you place the next trade.... I could have bought puts at gap fill but waited till it went -.10 from the previous open ... what is the proper spot...
I wonder if I can do this every day... I also used John Carters Histograms to find a good point to take profits, seemed to work.
I was wondering if ISRG could be used with this MTC ... it makes some huge moves..
Thanks again,
Bill
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sbuck143
88 posts
msg #92298
- Ignore sbuck143 |
5/7/2010 1:41:36 PM
What is the most consistent way to make 1% gain?
++++++++++++++++++++++++++++++++++++++++++++++++++++++
Trick question - this one is easy. Be a broker charging 1% commission per trade. :)
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chetron
2,817 posts
msg #92300
- Ignore chetron
modified |
5/7/2010 2:27:30 PM
isrg is a cow, except for the low volume.
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gmg733
788 posts
msg #92379
- Ignore gmg733 |
5/9/2010 11:07:58 AM
Options.
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