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trading tools
TRADING TOOLS
1, RSI(5), enter/exit trade
2, STOCH, support for rsi
3, MACD, to hold current position
4, WEEKLY, $NASI trend bias,
Q's
http://stockcharts.com/h-sc/ui?s=QQQQ&p=D&yr=0&mn=6&dy=0&id=p89077701418
trix4,1
http://stockcharts.com/h-sc/ui?symbol=QQQQ&period=DAILY&years=0&months=1&days=0&...
trix 10.1
http://stockcharts.com/h-sc/ui?symbol=QQQQ&period=DAILY&years=0&months=2&days=0&...
vto
http://www.vtoreport.com/rsi.htm
candles
http://www.litwick.com/glossary.html
patterns
http://www.chartpatterns.com/
patterns
http://wongken96815.tripod.com/ChartPatternsEW.pdf
http://www.cboe.com/
http://www.briefing.com/
http://www.bobbrinker.com/secure/mktmrpdflogin.asp
http://www.bankofamerica.com/premierbanking/
http://www.americanbulls.com/
http://tradeguru.com/
Market View, sentiment is down,
based on daily $nasi, weekly stoch and macd
the rsi(5) play is with-in the confines of trend,
RSI-5 is the best tool
i keep posting (harping) this message, cause not too many speak it, either they already know it or don't believe it,
daily rsi-5 is as reliable as a 'properly' identified symmetrical,
it is money in the bank, your bread and butter, easy money,
it is the most consistant of all the tools here,
at the very least, you will exit where you entered,
this is the tool that keeps you in the game while you are looking for the big score,
questions;
1,can you lose? maybe,
2,has it? yes -14%loss Sept 01
3,the question then becomes, how many times did it lose?
don't take my word, check for your-self
vtoreport
http://www.vtoreport.com/rsi.htm
ndx Sept 01
http://stockcharts.com/h-sc/ui?s=$NDX&p=D&st=2001-06-01&en=2001-12-01&id=p6891056483...
re-Metal, right on,
we are so close to ndx 1630-40,
minimum upside target is mid bollinger,
Todays rsi-(5) play,
Q's i did not add long as planned
1. shorted the giant (msft) and did not want foul my equalibrium,
2. i got greedy and wanted to get a better price,
3. i can catch up if we do not have a big day up,
my mistake is; i should at least be 50% long on day 2,
re-Pokersam red stick,
you are talking about S&P? just one day down or two? and the Q's?
re-Metalfillboy, long, short or cash?
c'mon brother, i know your reluctant (been there)
re-Nocona, good job,
and good system,
was wondering if you were gonna add #2 today,
hopefuly i will catch up before the rsi-5 break-out,
lol
Current Play, msft & Q rsi(5)
msft, adding (short) based on island cluster,
jnpr, holding long, sell stop at 18.41,
Q's rsi(5) maintain current long, will 'NOT' add more today,
Q's rsi(5) is in-play yes, but i am betting against the heavy weight,
if i am wrong, i will pay my dues and still have time to catch rsi(5) on the upside break
Symmetricals by Robert New
Robert New (public charts) shows lots of symmetricals and flags,
i can identify with some, and some have no clue,
some are no longer in play but still posted (good for examples)
it's a good place to go if you are a symmetrycal trainee,
study symmetrycals while working with your current indicators,
all i can say is, its good money, when your view is true,
examples,
ngas page 18, trdo page 23
and shld page 30 (is short play) New has it as a long play
re-Pokersam, megaphone
c'mon brother, the rst play is over,
1, it topped out August 05, (you said it)
2, the blue line is where we differ
wave count i like,
it matches my current 1-3month outlook, (nasi and weekly indicators)
so..one good question is; what would negate the wave count?
what would make the wave count...incorrect? failure in point 2 or 3? (ref wave count post #19404)
RSI(5) is a good play
this is a repost,
regardless of my downdside bias daily rsi(5) is a good play,
as a minmium, price should meet mid-bollingers,
this is easy nocona, vto money,
position is 1/4 long and will be 100% long monday,
hoping for downside to Q's support, 40 +/- .30,
upside target mid-bollingers
annotate your-selfs and see,
http://stockcharts.com/h-sc/ui?s=QQQQ&p=D&yr=0&mn=8&dy=0&id=p77038940517
re Fishbait bigger picture
ya just had to trump poker, didn't ya? :) i like it,
today the dow is at 10793,
what is the dow sitting at on your lower trend line, 10864?
does that mean a new trend below the lower line is forming?
re-MetalFillboy, weekly breadth,
now i can read your si osc, but no macd reading,
agree, trend is down until si turns green,
and osc breaks upper trend line,
your work looks good, post this one again when daily macd cross' up
MSFT downside pattern (short rec)
msft is showing an island cluster, should be an easy one point for the shorties,
msft cluster
islandcluster
Stockcharts Added Feature
under chart attributes, stockcharts added extra bars, its for those traders that predict direct and annotate it,
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p27573247774
ALL-Kenwong, re; 3STRIKES
THREE STRIKES;
This board should be used/treated as a business. And in a business, abusive behavior is not tolerated. The 3 strikes rule should be targeted at traders that badger and show abusive behavior, not to emotional outburst and those "Venting".
EMOTIONAL TRADERS;
Traders are emotional people, not Robots, so spats and tassles will happen, are common and minimally accepted. Rules should be flexible not harden. I say, do not tolerate abusive behavior during business hours and show leniency afterhours. For those that have "something to say" say it after hours. However, put yourself in time-out if you are "Venting" everyday.
THE VICTIM;
There were no victims here, there were only combatants.
Nocona was close to being a victim, but he took the higher road (hats off to nocona). Everyone that carried on the next day, and the next, and the next, was Actively ingaged in "mud slinging". In other words, yas all guilty. Beyond a normal emotional outburst, being "Actively Engaged" is fueling the fire. Strikes should be issued to both parties that are "Actively Engaged" and fail to use the ignore button. Carrying on a grudge-match for weeks, is disruptive to all members,
BY-STANDERS;
Can be part of the problem not the solution. Its simple, call the board police if they are disruptive to you. This is your board too.
CHALLENGE THE TRADER;
Yes absolutely, professionaly and respectfuly. Challenge the trade, not the trader. Challenge the method not the trader. See (HUSK) post
#18450 can elaborate more on this issue.
THE POKERSAM THING;
i said, many of you here followed pokersam from the CS board, so you are to blame for his swollen head as he is. Stop using him as a crutch and folow your own indicators (me included) The indicators will be right, the traders (one of you) will be wrong. Pokersam has some strong points and he can also be wrong. Absolutely, challenge him, (call him out) in a respectful manner.
Ken, this template is for you,
BANNING PROCESS; (not inclusive just as a template)
1-complaint filed by at least 2 members, public or private,
2-Board Police intervenes, issues warning to both parties (not a strike), police is now on standby,
**next day grudge-match continues**
3-Board Police Automaticaly intervenes (issues strike 1)
**week 2 drudge-match contnues** complaint filed by 25% of members
4- Board Police respond in full riot gear, bans both members 1-2 weeks
the member that used the "ignore feature" will not be banned.
GLOE re; $RUT
i also trade rut, produces more gains but hard to time (for me)
so i jump in $russell, when Q's go long,
lol
FreeMarkets
re; tradeguru
prograstnation is my worst suit, will be with you 7-10 days on that, if ever,
until then use the 2 symmetricals i posted, they are common, easily identified and highly reliable, easy enough for first year students to spot,
Market View is down
based on Q's daily macd and weekly stoch,
time frame 1-3 weeks from macd cross-over on Jan-20,
i'm leaning to 1-3 months if dr joes perfect indicator signals a sell and fundimentals produce market fear, play it one week at a time see how it goes,
I still expect the market to top out at S&P 1350, NASDAQ 2600, based on fundimentals ain't broke
rsi play is "ON" especialy if we have a down day on monday
Pokersam - ALL, wave count, 1175?
first i thought no-way,
not before april, not until the $nasi turns
well, the $nasi turned (anyone say anything?)
daily macd direction is down, spx weekly cci and stoch turned down, Q's weekly cci,stoch and macd crossed and our (leader) $sox has done the double top macd thing (more on that later)
most of my boys are in, last one still up is S&P weekly macd, and $RUT is in his own world,
the only long play is the daily rsi(5), which we'll get a quick profitable bounce, but not (maybe not) an exuberant rally,
GO SEAHAWKS!!!
here come the new superbowl champs!!
kenwong, re; feedback
add rules
no venting, attacking, sly remarks during business hours
after hours, let the board decide what conduct is acceptable,
limit banding from the board to 5 days first time, 10 days second time,
respect is still #1
MetalFillBoy re; going long, w/rsi(5)
i'll be going long near the close monday,
assuming monday does not rally all day and actually hoping for a down day,
if you would, post a midday breadth chart, just for analysis,
as an example;
i want to see a if there is a hint from your charts when daily rsi(5) hits 20
woodfish re; down candle
thats a good way of looking at, breaking support,
Little Chico, support levels,
what is your next ndx support level, 1630?
and how about spx, 1245?
FreeMarkets re; subscribe
yes, at least one month trial, i'll get back to you,
MetalFillBoy, long short or cash?
i say if your charts are heavily down then short on the next upside
or.....................
prepare to go if your downside breadth is getting weak,
go 20-25% build your confidence first and your funds will come
lol
RSI(5) play of the day
is a buy,
based on noconas method and todays gap that needs to be filled
call is for mid-day, using rsi(5) indicator at closing,
S&P and $RUT holding up finely,
position hold 1/4
but will add to long on 2nd day of rsi(5) below 30
based on; i suspect high possiblity for 2nd day rsi(5) below 30,
macd is down and Robert News Q's trendline broke to downside,
(i said spx earlier but it is Q's)
*REGARDLESS* of my downside bias, RSI(5) is in BUY teritory
also look at your support lines(i have not calculated those)
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
Maybe Today:
VTO Modified:
Divide the money that you allocate to this system by 3 parts.
Use RYVYX (2x $NDX) to invest.
When daily RSI 5 of $NDX closes below 30 invest part 1 in RYVYX.
If the $NDX closes lower than the previous low invest part 2 in RYVYX.
If the $NDX closes lower than the previous low invest part 3 in RYVYX.
When the daily RSI 5 of $NDX closes above 50 sell all parts of RYVYX.
Make your trades on the day of the signal.
Nocona
Pokersam re; rising wedges,
thanks for the analysis
all
i said the trader knows his business,
he is a day trader, his strong points are hourly plays and symmetricals,
he has some weakness too, will not mention, don't have to,
ALL, Whats the play for today?
long
later in the day when rsi(5) shows a buy signal
or maintain short
because macd line is dowm and bollingers failed upside,
my play (ref husk)
is Robert News (public chart) trendlines SPX,
above the line is long, below is cash/short
pokersam, welcome back!!
if you would, could you check out my symmetricals
and MFB's symmetricals, make a comment
mine is post #19248
MFB is in his breadth chart updates
Metal re; Breadth Charts
i can follow a little, and i will go back in 7-10 days
and see how our forecast/analysis worked
bollingers,
i suspect a repeat action like 26th, only opposite,
and a continuation to the lower band 1-2days,
symmetrical
on the first chart is obvious, either break down, or go back up,
initial downside target is 50 points 1720 minus 1670
CaribbeanJim, re; medium
right, no big egos
i followed pokersam from CS, because i seen what he could do,
but i don't know what has happened to the him,
on another note;
i trade info with an "old dude" i work with,
he took $319k to $344k in Jan alone, with no T/A, none,
he trades BA, BTU, GOOG and $RUT, thats all,
he's been doing it for 9months, luck or confidence?
i know more about trading than he does,
but he makes more than me, what the hey?
its trader confidence...............
husk, re; public charts
checked Robert New's charts and seen the trendlines, good call,
if those lines break, we'll see S&P support at 1245
Market View, macd down,
$comp,Q's and S&P
the indexes daily stoch has crossed down and daily macd is down,
Q's bolligers failed to cross and clear above the midline
Q's weekly stoch and macd are down, S&P is above trend lines
the upside index is $rut
Q's macd direction is down, market view is down, position is .25long
took profits on BA and SBUX, no shorts and no more longs til,
rsi(5) gives a buy signal, also waiting to see if symmetrical plays out
http://stockcharts.com/h-sc/ui?s=QQQQ&p=D&yr=0&mn=3&dy=0&id=p03025542236
ALL, the pokersam thing
i truly believe pokersam "was" our board leader,
highly confident experienced trader, had a following,
so what!! if he wants to leave, so be it, maybe it was time,
stop using pokersam as a crutch(thats speaking for myself)
its time to pick a new leader....or not
actualy most everyone on this board has made significant contributions,
and if they didn't they followed the ones that do,
everyone knows the trade basics, sell high buy low, your rsi(5)
will show you that, and thus its time for all to step up to the plate,
til the next leader shows,
there is enough experience here that together the board will grow
lol and trade what you know
KovuLK re; downmarkets
i'm glad to see that someone else has a different view of TG,
good catch on the Sept-Oct time frame
Freemarkets and ALL re; IPS and RS charts,
i could only identify patterns for IPS & RS,
and if tradeguru calls matches your personal t/a, run with it,
this is my opinion from a symmetrical trader, training in-progress
1, IPS showed a symmetrical Sept-Dec low 58.50 to breakout at 75
gives you a target of 91.5 and i thought your stock was done at 92,
then another symmetrical formed Dec to mid Jan with a target of 96.50
your buy dates were were approx Nov 21 and Jan 23
in my opinion this one is done
2, RS shows higher lows Aug-Oct with a break out at 54 in late Oct,
i have no price target or final call, but if you see that Aug-Oct pattern
and you get a break-out, jump all in, i can identify with higher lows,
BOOM did that higher lows thing back in Jun-Aug 05
lol and happy trading
IPS
RS