Evening trading US shares
- Thread starter Mr. Charts
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was long cmi tuesday. didn't follow through. Was hoping for a big move. Maybe today. We'll see!
Dave
Captain Haddock
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Thanks for posting the watchlist gents. Appreciated.
Captain Haddock
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3 times in a row that crazy fool bidu has dropped at the bell only to pick up again.
Just an update as things seem quiet here these past few days.
The first improvement has been in using the alerts in eSignal. Really helps to monitor multiple stocks as they reach key levels, but can have a load of them firing off at once as the futures makes an upward surge. The next trick for me is to learn which ones to take and be very selective. Took a few very slow movers yesterday in error (PWAV, poor mover, bad choice)
I've mainly only traded NASDAQ stocks but set alerts on NYSE ones also and have noticed that they seem to move "better" than naz stocks. Can't put my finger on it but they seem to move faster at key levels, or maybe it's my imagination. Does anyone else see this too? I might start to trade one or two NYSE stocks and see how it goes.
One other question - if a stock has broken out, and I'm in a position, how long do you give it to work out. I'm trying the idea of scratching it if one 5 minute candle goes against me, but this can just be a normal retracement then it shoots off. So many things to consider.
All the best
Ed
The first improvement has been in using the alerts in eSignal. Really helps to monitor multiple stocks as they reach key levels, but can have a load of them firing off at once as the futures makes an upward surge. The next trick for me is to learn which ones to take and be very selective. Took a few very slow movers yesterday in error (PWAV, poor mover, bad choice)
I've mainly only traded NASDAQ stocks but set alerts on NYSE ones also and have noticed that they seem to move "better" than naz stocks. Can't put my finger on it but they seem to move faster at key levels, or maybe it's my imagination. Does anyone else see this too? I might start to trade one or two NYSE stocks and see how it goes.
One other question - if a stock has broken out, and I'm in a position, how long do you give it to work out. I'm trying the idea of scratching it if one 5 minute candle goes against me, but this can just be a normal retracement then it shoots off. So many things to consider.
All the best
Ed
Hi Ed
It depends on a variety of interrelated things as to my own exit strategy.
If a 5 minute bar goes against me I'll consider whether it is making lower highs and lower lows with reference to the last up candle (for longs) and the type of volume that is going off. Shallow volume, as you say, maybe a retracement. However it may be a shooting star on heavy volume which may signal a reversal. I will also look at the ATR for the 5 minute chart and put this into context with how far the price has moved back from the high. So lets say the preceeding up candle reached a high of 33.60 and the ATR is 0.25 and the current price is 33.40 I expect to give it upto a level 33.35 in order to breeth ready for a further move up.
Also the price at which the downbar occurrs, is it a whole number, is it at 52 week high -basically is it at a key SR level.
I have a 5 period and 10 period EMA set-up so where is the price at with reference to the MA's.
I also look at the price action before the downbar - for example has the stock shown upmoves followed by retracements and/ or bases during the day, this may continue.
If the T & S has slowed down and GREEN is not prominent I will also take into account.
One thing that is KEY and the charts will not show you this - if there is a price spike caused by activity on T & S that is well away from the inside bid and ask I will not consider it when reflected in the charts.
I know that this doesn't provide any answers but I hope it gives you some ideas.
Regards
Steve
It depends on a variety of interrelated things as to my own exit strategy.
If a 5 minute bar goes against me I'll consider whether it is making lower highs and lower lows with reference to the last up candle (for longs) and the type of volume that is going off. Shallow volume, as you say, maybe a retracement. However it may be a shooting star on heavy volume which may signal a reversal. I will also look at the ATR for the 5 minute chart and put this into context with how far the price has moved back from the high. So lets say the preceeding up candle reached a high of 33.60 and the ATR is 0.25 and the current price is 33.40 I expect to give it upto a level 33.35 in order to breeth ready for a further move up.
Also the price at which the downbar occurrs, is it a whole number, is it at 52 week high -basically is it at a key SR level.
I have a 5 period and 10 period EMA set-up so where is the price at with reference to the MA's.
I also look at the price action before the downbar - for example has the stock shown upmoves followed by retracements and/ or bases during the day, this may continue.
If the T & S has slowed down and GREEN is not prominent I will also take into account.
One thing that is KEY and the charts will not show you this - if there is a price spike caused by activity on T & S that is well away from the inside bid and ask I will not consider it when reflected in the charts.
I know that this doesn't provide any answers but I hope it gives you some ideas.
Regards
Steve
PitBull
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Hi Ed
NYSE do produce nice moves, look at CMI yesterday and they do tend to trend better IMO. But pick the right NAZ momentum stocks (I published my list a few posts back) and they move also, BIDU, FSLR, JASO are recent examples. Try watching how they move first to get used to them and then only trade small size. Don't be put off by the big spreads as worth the risk when they do go.
Another thing Ed, check the ATR before you trade, then you will get an idea of how much they move. <0.05 in a 5min bar is like watching paint dry :cheesy:
Good luck
PB
Last edited:
timsk
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Help!
Hi Folks,
Favour please! Would some kind hearted soul be good enough to post a 60 minute chart of GOOG on the following thread:
http://www.trade2win.com/boards/showthread.php?p=344885#post344885post344885
Ta very muchly.
Tim.
Hi Folks,
Favour please! Would some kind hearted soul be good enough to post a 60 minute chart of GOOG on the following thread:
http://www.trade2win.com/boards/showthread.php?p=344885#post344885post344885
Ta very muchly.
Tim.
Thanks Lloyd, Pitbull.
Yes NYSE stocks do have a mind of their own and I agree they seem to trend better, especially when looking through a scanner later in the trading day.
ATR is another new tool I'm just getting to grips with. It gives a good amount of information once in the trade.
However even though I am more selective in trade setups, I'm still finding that I am about 40/60 with trades. I'm getting many false moves that are triggering and when I analyse the trades after market close, it is extremely difficult to see where I went wrong as the same setup on another stock will be successful. Hope I am explaining this in a clear manner
Suppose it's the same old chestnut about HOW to define and fine-tune the entry as this is my big weakness at the moment.
Ed
Yes NYSE stocks do have a mind of their own and I agree they seem to trend better, especially when looking through a scanner later in the trading day.
ATR is another new tool I'm just getting to grips with. It gives a good amount of information once in the trade.
However even though I am more selective in trade setups, I'm still finding that I am about 40/60 with trades. I'm getting many false moves that are triggering and when I analyse the trades after market close, it is extremely difficult to see where I went wrong as the same setup on another stock will be successful. Hope I am explaining this in a clear manner
Suppose it's the same old chestnut about HOW to define and fine-tune the entry as this is my big weakness at the moment.
Ed
Thanks Lloyd, Pitbull.
Yes NYSE stocks do have a mind of their own and I agree they seem to trend better, especially when looking through a scanner later in the trading day.
ATR is another new tool I'm just getting to grips with. It gives a good amount of information once in the trade.
However even though I am more selective in trade setups, I'm still finding that I am about 40/60 with trades. I'm getting many false moves that are triggering and when I analyse the trades after market close, it is extremely difficult to see where I went wrong as the same setup on another stock will be successful. Hope I am explaining this in a clear manner
Suppose it's the same old chestnut about HOW to define and fine-tune the entry as this is my big weakness at the moment.
Ed
Why don't you post some examples of your trades here. We might be able to help you a little. Post a chart and tell us where you entered and exited!
-Dave
Captain Haddock
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Really yacarob? They must be on holiday, no "serious players" use a public forum to actually assist their trades.
Real "Serious players" only come on a thread like this to help newer traders and give something back.
Trading is actually a selfish profession in terms of society contribution. Helping newer traders balances this out. Grey1 giving "free" one to one tuition is a fine example of this.
Good trading all.
Real "Serious players" only come on a thread like this to help newer traders and give something back.
Trading is actually a selfish profession in terms of society contribution. Helping newer traders balances this out. Grey1 giving "free" one to one tuition is a fine example of this.
Good trading all.
