Divergence Code For Day Traders

[Grey1]

thanks for explanation about colors.
I am not sure what you mean by sea of divergence, all I can see is weak signals across the board except JOYG. Does it mean JOYG is neutral and right choice for shorting when Dow is OB? ( At 18.51, Dow OB and JOYG nearly OB and macci cycle turning down. )

Nope . It does not mean JOYG is weak . it means market is going to turn down and I shorted JOYG which had highest ATR which means better return for my money . If i had shorted any other stock i probably would not make as much $$$$$ .

I have already said that one of the main uses of this utility is to gauge the market weakness. I hope this is clear.


Grey1

PS:-- I gave back 1/2 my winning in one bad trade so only up $612

 

[Trader333]

Iraj,

Does this also work in reverse, for example, a sea of Strong means that the market will go up and those stocks that are not showing strength are likely to follow ?


Paul

 

[gulam]

Red and green are NEW signal ...

I shorted JOYG based on sea of divergence as shown below @ 18.51.. Thisis how you should read the market direction

G1, pls can you post the book trader.

I also see all week but market goes up..... I am trying to understand this more.
Do you run the divergence on multi timeframe or just 3 min per your picutre?

Thx

 

[Grey1]

Iraj,

Does this also work in reverse, for example, a sea of Strong means that the market will go up and those stocks that are not showing strength are likely to follow ?


Paul

yes 100% . This is TA .. All stock be it weak or strong follow the market. The question is which stock returns more $$$$$ for your risk . LOOK FOR THOSE STOCKS WITH HIGH ATR for a quick kill .

grey1

 

[Grey1]

G1, pls can you post the book trader.

I also see all week but market goes up..... I am trying to understand this more.
Do you run the divergence on multi timeframe or just 3 min per your picutre?

Thx

Gulum

This is how it works .. You have few stocks going weak .. you then watch seeing more stocks JOINING the weak list which in the list i posted i had 6 stocks joining the weak list. For me this was a solid signal to go short JOYG . I did not have a short signal from my VWAP engine other wise I would have taken the signal .

 

[Grey1]

To be a success ful trader you need few good strategies

1) Strategy 3 Awesome ..
2) VWAP pair trade



Use divergence in choice of stock and market direction ,, donot use it as stock entry point ,, This is not an entry strategy .


Once you identified which stock has been in the weak/strong list for a long period of time then use exhaustion engine to help you out for entry .

grey1

 

[Grey1]

To be a success ful trader you need few good strategies

1) Strategy 3 Awesome ..
2) VWAP pair trade



Use divergence in choice of stock and market direction ,, donot use it as stock entry point ,, This is not an entry strategy .


Once you identified which stock has been in the weak/strong list for a long period of time then use exhaustion engine to help you out for entry .

grey1

if you like I am prepared to meet you all in a PALTALK CHAT ROOM TO ANSWER ALL UR QUESTIONS 2 MORROW @ 1.30 Uk time The room


The room name is TECHNICALTRADER it is under business section . My nick name is
II WALL STREET II

please come to the room early as after the trading hours I will close the room . You can add me to ur list or PM me if you are lost and i will invite you to the room . please use the same nick as this BB other wise i will bounce you .


I will also tell you what my trading plans are for the day .

Grey1

 

[gulam]

Gulum

This is how it works .. You have few stocks going weak .. you then watch seeing more stocks JOINING the weak list which in the list i posted i had 6 stocks joining the weak list. For me this was a solid signal to go short JOYG . I did not have a short signal from my VWAP engine other wise I would have taken the signal .

G1, You shorted JOYG right at the top 45.58, it went down to 44.90, , but you closed the position higher for a small profit. Any resaon why you didn't close when you had a approx $.69 cents profit? Could it be JOYG had a really good run for a few days and you thought it would tank, as traders would have been taking profits off today?
Or was it only that MACCI 1 min was oversold, and 3 min nearly oversold, but on the 5 mins MACCI wasn't oversold, the trend wasn't exhausted on that timeframe?

The RIMM trade it seemed liked you just scalped? Do you scalp and do intraday swing trades?


I am learning to understand the thinking of a successful trader.

Thanks

 

[gulam]

if you like I am prepared to meet you all in a PALTALK CHAT ROOM TO ANSWER ALL UR QUESTIONS 2 MORROW @ 1.30 Uk time The room


The room name is TECHNICALTRADER it is under business section . My nick name is
II WALL STREET II

please come to the room early as after the trading hours I will close the room . You can add me to ur list or PM me if you are lost and i will invite you to the room . please use the same nick as this BB other wise i will bounce you .


I will also tell you what my trading plans are for the day .

Grey1

G1, This is an excellent for opportunity for all of us. I can't wait for this. I hope we can continue this everyday. Thank you so much. (Maybe I will have a sleepless night tonight)

 

[Grey1]

G1, You shorted JOYG right at the top 45.58, it went down to 44.90, , but you closed the position higher for a small profit. Any resaon why you didn't close when you had a approx $.69 cents profit? Could it be JOYG had a really good run for a few days and you thought it would tank, as traders would have been taking profits off today?
Or was it only that MACCI 1 min was oversold, and 3 min nearly oversold, but on the 5 mins MACCI wasn't oversold, the trend wasn't exhausted on that timeframe?

The RIMM trade it seemed liked you just scalped? Do you scalp and do intraday swing trades?


I am learning to understand the thinking of a successful trader.

Thanks

I was on the SKPY with FIBBO at the time and i closed my postion when exhaustion engine was nearly but not compeletly over SOLD and I did say to FIBBO that from here on ward the risk does not justify the reward / SO i closed and I am afraid it was too early . I could have made a killing . As far I am concerned i did the right thing .

Grey1

 

[Trader333]

Unfortunately I am unable to make the 1.30pm meet but I hope everyone else has a good learning experience.


Paul

 

[garethb]

I'm using paltalk for the first time. I seem to have downloaded it and registered but can't find the room.

Am I being dumb (or perhaps blind) or does it only become activated after I'm registered.

Regards,

Gareth

 

[ianp]

I'm using paltalk for the first time. I seem to have downloaded it and registered but can't find the room.

Am I being dumb (or perhaps blind) or does it only become activated after I'm registered.

Regards,

Gareth

The room wont appear until Grey1 opens it around 1.30.

Ian

 

[garethb]

OK, Thanks Ian - That was the other possibility that occured to me. I was just trying to get paltalk sorted early as I haven't used it before - seemed to work fairly easily though.

Gareth

 

[samtron]

Grey1 (and others)
have just joined PalTalk but my "nick" had already neen taken so I changed it to samtronn for Paltalk.

Latter

 

[rajibde]

if you like I am prepared to meet you all in a PALTALK CHAT ROOM TO ANSWER ALL UR QUESTIONS 2 MORROW @ 1.30 Uk time The room


The room name is TECHNICALTRADER it is under business section . My nick name is
II WALL STREET II

please come to the room early as after the trading hours I will close the room . You can add me to ur list or PM me if you are lost and i will invite you to the room . please use the same nick as this BB other wise i will bounce you .


I will also tell you what my trading plans are for the day .

Grey1

Can't download the programme into my office computer ($%~# office security system) -wonder if someone can post the conversations on this BB after the event (?)

Raj

 

[samtron]

Thanks to Grey1 for a great session in his paltalk room today prior to market open.
A very informative session

The session was live using mic's and Grey1 answered all the questions put to him in a most helpful fashion
About 10 traders attended.

 

[garethb]

Raj

Most of the paltalk content is audio not written so I can't think of a very easy way to post it - unless paltalk has some kind of record/archive capability. Sorry

Gareth

 

[rajibde]

Raj

Most of the paltalk content is audio not written so I can't think of a very easy way to post it - unless paltalk has some kind of record/archive capability. Sorry

Gareth

Thanks Gareth,

I understand-That was a desperate last minute plea. I'll be on the look out for a future opportunity.

Raj

 

[vegas]

Hi All,

Unfortunately (work !!) got in the way of been able to attend Grey1's paltalk session re Divergence a couple of weeks ago.


Just trying to get behind this now.

Question Please :

Is it advisable to 'glue' several timeframes together when utilising Divergence on Radarscreen or would this make it too conflicting ?


Thanks.