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ADCT
BREAK OF 5.04
ABMD
Headed to lower BB if it breaks 13.42
Send poorinvestor a private message he is very helpful
Yoh, Anyone on this board? How do I learn to short stocks?
Here's a few bear 3x etf's to watch if the market goes down.
Yeh i def have to get my setup going soon. min 4 monitors haha
I need more monitors for all this stuff I got going.
Yeh me to haha. I had to double check. But your day trading method worked i just wasn't at a computer to sell when it hit 67(on wed)
sorry thought you were in at 60
watching my 1 min. chart and had a entry @ 9:20 around 59
Sounds good. I look forward to doing some shorting
not yet 60.86... a few more ticks and im in the money
Stock plays will be swings, short etf's will be day trades even though you actually will be wanting those to go up.
sounds like a plan... Just explain to everyone the criteria you look for on a short and when to enter and exit. Will these be for day trades or swings?
I'll get my scans going this weekend and see what's left to short.
HAIN (22.12)
problem with stockcharts not rendering the chart image. looks good for a $3 haircut
Rez, my question was in reference to Max's post # 29116. When he posted it on 5-7-2008, the chart for CEGE was current up to then and had notations on it. Basically his quote remains the same; ie., buy when Slow Stochastics crosses above 20. Then sell when RSI is above 70 or MACD turns down. This is for LONG ENTRIES AND EXITS!! My question that you responded to was pertaining to short entries and exits. If you are a full IHub member, you can search his board's messages for more relevant posts about that subject.
GLTA!!
Cajun or Max....can u point me to the message that you are talking about. Thanks.
A Trading Pattern For The Impatient Or Time Sensitive Trader
October 17, 2008 · By Brad · Filed Under General, Guest Bloggers · 1 Comment
I’m pretty sure many of us fall into the category of impatient trader. I am guilty as charged! I’ll spare you the details of the trade but put it this way if I would have held I would have made 15 times my money. Hey I did make 2 times my money so I can’t complain…but my impatience got the best of me.
I’ve asked Dean from ATradersUniverse.com to give us his insight on how to deal with being impatient. ENJOY!
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Your major focus in trading should the softer side of trading, the business and psychological side of it; the harder side which relates more to the technical side is a secondary thought, however in this article I am combining the two because one of my favourite patterns is an ideal pattern for the impatient trader who does not like to hold on to trades for too long.
Impatience is not a good trait to have in the markets when trading or investing. It breeds laziness when it comes to research, planning and analysis, it causes some to exit trades too early, and it causes other’s to constantly monitor their positions. To add to this, trades that linger on can incur costs such as time premium erosion for options traders, and interest costs for CFD traders or stock traders using margin, to name a couple.
Weaknesses are a part of human nature; your job is to ‘manage’ them, not to try and eliminate them or even turn them into strengths. We were brought up to take our weaknesses and try and turn them into strengths which I believe is the wrong approach. Build on your strengths and manage your weaknesses is the best motto I ever heard.
Some traders who don’t like to be in trades for too long will use an exit strategy that will force them out of the trade if the particular stock or market consolidates and moves sideways for a few days, which is a good strategy. Let’s look at an entry technique which is the trading pattern for the impatient trader.
This pattern signals a turning of the market. It does not necessarily signal a top or bottom, it will sometimes just signal a correction, either way; it tells you that a swift and sharp move the other way is imminent, and usually enough to give a good reward to risk. The emphasis here is ‘swift and sharp’, because this is what the impatient trader is looking for.
The pattern unfolds in 5 waves with the highs and lows of the waves overlapping each other to the point where the 5th wave ends in a spike. Here is a diagram showing what to expect at the end of a run up, and the end of a run down.
This is what you need to see and how to trade it:
1. You join the highs of wave 1 and 3 together, and the lows of wave 2 and 4 together if in an up market, and these lines need to converge [or lows of waves 1 and 3, and highs of waves 2 and 4 if in a down market].
2. You want the high of wave 5 to break the upper line and spike [low of wave 5 to break lower line and spike].
3. The break of the lower line is your entry [the break of upper line is your entry].
4. Your stop goes on the other side of the 5th wave.
5. You want your exit or your first profit target to be within the range between the low of wave 1 and wave 2.
6. You shouldn’t take the trade if this range does not offer you at least a reward to risk ratio of 1:1, however this is obviously a personal choice
This is an example that occurred on the SP500 index in July 2008 on a 30 minute chart.
Elliott Wave users will be familiar with this pattern, known as an ending, leading and 5th wave diagonal; others may know it as three drives pattern, and others may just say it’s a wedge pattern.
The point I wanted to make in this article, so as to benefit you is that when these patterns occur they produce swift and sharp moves and this is an obvious benefit to those who don’t like spending too much time in the markets, whether it’s due to being impatient or because of trading instruments that are time sensitive.
Here’s a challenge
Who can tell me a currency (or forex pair) where this pattern has occurred very recently?
Here’s a clue; the pattern took months to form and only weeks to retrace.
Dean is the owner of ATradersUniverse.com , a resource and education site for traders. He also has a trading system development program which you can find here PentagonalTrading.com.
Dean has also been researching the mind and why traders self sabotage after seeing his parents win the lotto only to lose it all and more. He is giving away a free portion of his ebook discussing the science behind why we fail to succeed, which you can download here:
http://www.atradersuniverse.com/RMFSGiftMC.pdf
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Thank you, Sir. I'm doing some paper trading with Trade Ideas now. If it works, I'll pass it on to you.
It would be the reverse, correct
Max, a while back you gave us a charting method for opening/closing long positions using MACD, RSI & Slow Stochastics. Do you have a similar method for short plays? Is the reverse of that 'long' method valid? TIA
got'em all today PI !!
Shorting? ............. If you are planning to short a stock, check that the Down Aroon is crossing up through the Up Aroon, and begins moving above 70; this short sell indicator is especially useful when the market itself is in a downtrend. When scanning, look for the lines to cross in order to catch a trend change. Keep in mind that when following a bullish or bearish Aroon indicator, a trader may receive false signals. In this case, other indicators could be added to the scan to determine the cross strength.
link back and look at this chart
VIX spiked to over 42 today and reversed to 33. I would use extreme caution shorting for the next few days / weeks
Thanks just trying to make money both ways.
just wanna say thanks for all the hard work, and the picks. Nice job
drys by MaryKateAustin
#msg-31924045
Post from 766 to 786 look to short at the given resistance points.
ener 60.00
nsc 75.53
unp 85.00
abt 59.82
shld 103.24
ijr 64.31
fdx 93.53
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We look for shorting opportunities on stocks that are due for a correction down.
Short ETF 's also will be covered.
Please post any ideas you have here.
Please respect opinions of others here. If you disagree with an opinion, then PM that person.
We have shorts posted here based on technicals only, not news, not financial statements, not pumps, not dumps, not newsletters, not relatives phone calls.
That being said, if you don't like the fact that a short is being recommended ( based on the chart) then disagree with the chart not the poster.
Our signal provides a good trading opportunity in many cases. We don't marry these we rent for the most part.
Be nice to each other.
Pumping will not be tolerated
List of ETF Long and Short:
http://www.smartmoney.com/etf/etftickertracker/?nav=dropTa
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