The markets are giving me nothing at the moment so I thought I'd explain why I took the GILD trade any comments are very welcome as I am fairly new to trading, 1 year, and am still most definately at the bottom end of the learning curve.
My scanner had picked up GILD and I monitored it as it touched the VWAP upper band, this was also a new high on a relatively low volume bar. I tend to work from very simple 2 bar reversals and received this the next bar after the upper band was crossed. At that point I shorted at 56.25 with VWAP AT 55.60, I had a stop at 18 cents giving a RR of 3.6. I exited at 55.85 giving a final RR of 2.2, I left the trade on a hammer candle.
My scanner had picked up GILD and I monitored it as it touched the VWAP upper band, this was also a new high on a relatively low volume bar. I tend to work from very simple 2 bar reversals and received this the next bar after the upper band was crossed. At that point I shorted at 56.25 with VWAP AT 55.60, I had a stop at 18 cents giving a RR of 3.6. I exited at 55.85 giving a final RR of 2.2, I left the trade on a hammer candle.
Grey1
Senior member
- Messages
- 2,190
- Likes
- 202
further depth of the market on NVLS if the stock falls below 33.73 and more bidders appear from no where then I am out .. As simple as that .. just look at bidders sitting below my entry of 33.78.
Currently trading 5 C above my entry but donot like the look of 33.75 and 73 bidders
Regards
Currently trading 5 C above my entry but donot like the look of 33.75 and 73 bidders
Regards
Attachments
Grey1
Senior member
- Messages
- 2,190
- Likes
- 202
Paul,
Great trade never mind about the loss.. We post our trades in real time than being disrespectful to our friends and insult their intelligence by saying just made $2 from a trade without a shred of evidence that trade has even taken place..
It is a very very tricky day no doubt about it..
Up until now I am down 11C@ 2500 for to day ..
No problems what so ever ..
PS:-- if i had a pair trade signal it would have been great as market is oscillating and there would not be an over all losing position .. but with 40 stocks only the strategy is rather limited
Great trade never mind about the loss.. We post our trades in real time than being disrespectful to our friends and insult their intelligence by saying just made $2 from a trade without a shred of evidence that trade has even taken place..
It is a very very tricky day no doubt about it..
Up until now I am down 11C@ 2500 for to day ..
No problems what so ever ..
PS:-- if i had a pair trade signal it would have been great as market is oscillating and there would not be an over all losing position .. but with 40 stocks only the strategy is rather limited
Grey1
Senior member
- Messages
- 2,190
- Likes
- 202
Paul,
When NVLS was trading @ its lower VWAP 33.95 there was over 11000 bidders @ various levels well below your entry .. This is clearly shown in the first L2 posting by myself..
The only level I could find safe to enter was a 33.78.. Shortly after my entry Dow fell and I expected more bidder below my entry to move in and they did as you can see in my second L2 screen .. We suddenly had bidder @ 33/73,75 so I go out..
The two charts need little explanations..
The bad news was that I did not have a second pair to hedge against NVLS apart from that I am happy withthe trade and my stop loss..
I am afraid this is trading.. Once my scanner is sorted I would never single trade an oscillating market..
When NVLS was trading @ its lower VWAP 33.95 there was over 11000 bidders @ various levels well below your entry .. This is clearly shown in the first L2 posting by myself..
The only level I could find safe to enter was a 33.78.. Shortly after my entry Dow fell and I expected more bidder below my entry to move in and they did as you can see in my second L2 screen .. We suddenly had bidder @ 33/73,75 so I go out..
The two charts need little explanations..
The bad news was that I did not have a second pair to hedge against NVLS apart from that I am happy withthe trade and my stop loss..
I am afraid this is trading.. Once my scanner is sorted I would never single trade an oscillating market..
Trader333
Moderator
- Messages
- 8,746
- Likes
- 1,025
Here is the Chart of the NVLS trade which resulted in a loss of 22 points. There are a couple of things regarding this trade that are different to how I could have traded it.
When I got the alert and got filled the price was 33c away from VWAP so based on the recommended stop I decided to risk 2/3 of this which was 22c. Normally I risk a lot less than this but I am open to new learning.
I could have paired this trade, albeit later, with IACI but decided not to.
So the result was a loss of 22 points but you cannot win them all and it is all part of trading.
Paul
When I got the alert and got filled the price was 33c away from VWAP so based on the recommended stop I decided to risk 2/3 of this which was 22c. Normally I risk a lot less than this but I am open to new learning.
I could have paired this trade, albeit later, with IACI but decided not to.
So the result was a loss of 22 points but you cannot win them all and it is all part of trading.
Paul
