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[liamfitz]

My interpretation of the CTSH chart would be as follows:

1) The reversal candle's volume was less than the previous candles which would make me slightly nervous about taking the trade and would thus wait for the next candle to confirm the reversal (higher close on higher volume - a nice lower wick wouldn't go amiss either)
2) MACD recently crossed to the negative side so again lengthening your odds of success
3) Price made a higher high but CCI has negative divergence (could also argue RSI also displays this) - i would further argue that this divergence is quite strong because it has happened over 3 peaks

I'm sure everyone is going to see/interpret different things in the chart but what better way to learn than to throw your ideas out there!

David

would have to agree with ddunne and eddy jo here - macd is a problem - would wait a day or so for more positive signal . Of course one could put on an anticipatory small long here - but as yet no clear signal from macd that this is going in right direction - so ita case of hold horses !

 

[Actual]

To answer a question posed by des in the video, I would not have played this, basically I did the same as eddyjo and as you were asking the questions I posed the questions you have painstakingly pointed out. Does the MACD look good? RSI? This did not meet my requirements.

On a happier note, even though I am still paper trading, I recently found a stock (UK) that met all my requirements, based on your help des from watching your videos and I want to post the chart and show you what I found.

I had been watching Sci Entertainment group, SCI, for a few days and using a demo account I have, I got in this on Friday morning at 371p and was happy to see that as I hoped it shot up and ended the day at 407p I am still in this and hope to see it make a higher high, but I am prepared to get out of this as soon as I see it slip.

The things I liked about SCI were, on the back of good news (they are looking at buying EIDOS, responsible for the Tomb Raider computer games), I was also seeing a nice increase in volume, it's clearly bouncing of the 20dma and all the other indicators are good (rising RSI, MACD etc).

Just wanted to thank you for your continuing videos and assistance and show everyone that if you have a clear strategy that's followed correctly, that your results can be duplicated for all.

Cheers,

Steve.

 

[hitwyzard]

ctsh chart

another great video des, but this one was the best so far, with the 2nd video and commentary adding a new twist to your thread. keep it up mate, more of the same please!
kind regards
hitwyzard
let me know if you decide to put it together in the u.k. i'll be one of the interested parties.

 

[des44]

Actual: Nice play. The only thing you could have done better was have caught the breakout the day before by having a trap in place. This is certainly not to take away from this beauty. Very nice. IF I thought the markets had a lot of indecision in it, I would have a smothering tight stop-loss in place. If I believed the markets were bullish I would have my stop just below the initial BO (349ish area) to give it all the room it needed to develop its uptrend.

hitwyzard: Thanks and we'll do.

Regarding the CTSH video and others you'll find that I pay little attention to indicators such as the MACD. I certainly do not trash them--I just don't put a lot emphasis on them due to them being lagging indicators made up of historical data. Most TA traders (other than longer term position traders) find that waiting for indicators causes them to leave money on the table needlessly. True and accurate divergences on the other-hand is something I try to always respect.

 

[Actual]

Thanks for the compliments des, most appreciated especially from someone such as yourself. You were right that I missed this by one day, but rather than kick myself with annoyance I was happy with the fact that I was pretty sure this would go ballistic anyway and got in on it. My stop loss was just over the 330p mark and I got out of this today and took a nice profit (if only it were real!) at 432p, giving me a hefty 61 point profit, my best yet. Even thought I got out and was happy with my profits, it carried on climbing to 446p and then eventually settled down to end the day at 411p. This ended the day with a reverse hammer (is that right? it's an upside down hammer, not sure what this is called as my book hasn't arrived yet). Theres probably more legs in this stock as most of the indicators are still good, but I would be worried about a drawback here if I was still in it. What does everyone think this will do next?

 

[des44]

I'll PM you, Actual.

 

[des44]

Issc

ICCS: Missed this nice setup and pop even though a friend turned me onto it in time. Grr.. Sometimes golf gets in the way.

 

[liamfitz]

Thanks for the compliments des, most appreciated especially from someone such as yourself. You were right that I missed this by one day, but rather than kick myself with annoyance I was happy with the fact that I was pretty sure this would go ballistic anyway and got in on it. My stop loss was just over the 330p mark and I got out of this today and took a nice profit (if only it were real!) at 432p, giving me a hefty 61 point profit, my best yet. Even thought I got out and was happy with my profits, it carried on climbing to 446p and then eventually settled down to end the day at 411p. This ended the day with a reverse hammer (is that right? it's an upside down hammer, not sure what this is called as my book hasn't arrived yet). Theres probably more legs in this stock as most of the indicators are still good, but I would be worried about a drawback here if I was still in it. What does everyone think this will do next?

actual ,


perhaps you should trade now for real and see what happens - as im sure you know its a different kettle of fish trading for real as there is emotions involved and its hard to say where exactly you would have got out of this trade in reality . nevertheless its a great trade and you deserve to be congratulated - so if its given you the confidence go for it !

Paper trading isnt my cup of tea really - as i find paper traders get quite addicted to puttting on paper trades on whereas when the real moneys on the table - its a very different story . Half the trade if not more is discipline and emotion - if you can control these two beasts then you ll make a regular income - if you cant well then its a different ball game and youll have to learn how to master them .

To be honest - i'm not being negative- im trying to be constructive ! I just feel if youre confident now - go for it and the best of luck ! as i said itsa great trade !

 

[Actual]

Hi Liam,

Many thanks for the comments, they are most welcome and valued. I think I'm getting pretty close to trying this for real and I agree, that I would imagine my emotions would play into this a lot more, certainly the losses I have suffered in my early trades did not bother me too much, since I considered it all part of the learning curve. If that had been real money, I think I would be a bit annoyed.

Advice from others on this board in other threads suggested a 6 month paper trade before starting out for real, I can see now that I am unlikely to wait this long, but I would like to try and get into a routine/habit first, before I do trade for real. For the moment, I have a day job which allows me to do 2-3 hours in the morning at the start of the trading day before I have to leave for work, then I can examine results and set up "traps" as des calls them (basically, where I would open) and stops etc. Once my routine is set, I will go for it for real. Also, I want to learn a bit more about candlesticks first and hone my skills in spotting uptrends etc.

I have a holiday coming up in a couple of weeks and certainly won't start trading for real until after this, but I'll let you guys all know how it works out either way. Cheers for all the advice.

Steve

 

[tradinghumble]

Low risk trade ?

des.... attached is a chart of Priceline PCLN).... I personally think it's a low risk trade...

Can you please let me know what your thoughts are on it ?

Thanks.

 

[eddyjo]

Hi Actual ,

"What does everyone think this will do next", before I give my thoughts I
would like to comment on the candle that you think may be a "reverse hammer" I think you mean an inverted hammer, but as inv hammers only occur during downtrends it must be something else,after looking in my book on candles I would suggest it is more like a "gravestone doji" they occur during an uptrend and warn of a trend reversal. As far as the trade goes I would have put a trailing stop under the doji and let the trade run.

Happy trading, Eddie.

 

[des44]

TradingHumble: Nice find. I would trade it if (and only if) it made for a higher high. This is where a trap would come into play to help confirm a "bounce" off of the nice support area that you have already indicated with a green line. An increase in volume should give you the higher high that you're looking for.

Thoughts for everyone: Although great, I wonder if it would be more beneficial (if you want my opinion on your personal stock picks) to simply Private Message me. My only concern with doing reviews on this thread is it might deter from those who have come for "Free Videos" but are forced to filter through many other posts to see them. Maybe I am wrong and everyone would enjoy stock reviews. Or perhaps I am right on and it would be better for people to Private Message me so the thread keeps consistent with the videos. I think I am leaning more towards this way of thinking, but haven't made up my mind yet I guess. PM me with any thoughts...Thanks.

 

[des44]

Dcai

DCAI: Wedge example. I expect to see this pop one way or the other. Read about the wedge (formal name is "Symmetrical Triangle") by clicking on this link:
http://stockcharts.com/education/ChartAnalysis/symmTriangle.html

 

[ddunne82]

Des,

Are there any other weekly list of stocks that you would recommend as using as a basis for finding fundamentally sound companies. I know you use IBD but any others - e.g business week.

Thanks

David

 

[des44]

Ddunne (David),

IBD is it so far. It keeps me pretty busy and seems to give relatively sound list of stocks for technical scanning.

I am in Las Vegas for the week. More videos then.

d-

 

[pjonz]

Des,

I've just joined this thread and viewed all the videos and see some great ideas for increasing profits on the Australian Stock Market. Thanks for sharing this with us.

I was actually looking for Forex trading strategies... however I'm going to back test your methods on different time periods and see if they work as well on the Forex platform.

BTW what software do you use to make your videos?

Cheers

Peter

 

[ddunne82]

Hi,

Thought id let anyone know who follows this thread that in regards to the IBD 100 list, if you go to the website posted earlier on thats gives you the list for free, theres a link you can click on and that puts you on an email list that provides a .txt document with the weeks components. Might save some of you a lot of typing into your chart program!

David

 

[Actual]

Hey David,

Presumably the IBD100 is US stocks? Is there a comparable list of strong UK stocks? I am just starting out and only trading stocks I know/recognise/understand.

Cheers,

Steve

Hi,

Thought id let anyone know who follows this thread that in regards to the IBD 100 list, if you go to the website posted earlier on thats gives you the list for free, theres a link you can click on and that puts you on an email list that provides a .txt document with the weeks components. Might save some of you a lot of typing into your chart program!

David

 

[des44]

I am back from Las Vegas. It appears that I will be delivering mentoring services to the students of the same institution that also trained me (Teach Me To Trade,) This has not been finalized yet, but nonetheless, it looks like something that fits perfectly into my future goals. I'll keep you all posted.

Peter, I use the software Camtasia Studio. You can download a free 30-day trail version from their website.

Nice catch, David. I get his emails also and they are quite helpful.

By the way, you all may want to check out Innerworth.com http://www.innerworth.com/ Get their free newsletter. You will not get junk mail from them. I have been receiving them for months now and they're great. Don't pass this up.

d-

PS. More videos to come this week. Man, last week was bloody. Too bad I was away for the week. This was a shorts dream.

 

[Trader333]

It appears that I will be delivering mentoring services to the students of the same institution that also trained me (Teach Me To Trade,)

Is this the same as the Russ Whitney "Teach Me To Trade" course ?


Paul