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W@G2 02/07/07 for a 02/09/07 close
44.86 frenchee
44.90 Farooq
44.00 Dr_Sean
Do not over dosage it. Balance is the key.
LOL.
Great Job.
Keep it up.
W@G1 QQQQ 02/05/07 for a 02/07/07 close
44.86 frenchee
44.68 Dr.Farooq
44.16 DrWorm
I think it is going to be inside day candle, so our high will not higher then yesterday's high and our low will not dip below yesterday's low. JMHOP
Gleno34,
We are down because of GOOG you take out that impact and we could be higher. I will not short this market till we see a close below 43.80 on closing basis. It has a strong support @ 43.30. Market participant are using this opportunity for accumulation. I am keeping my stop @ level described.
Good luck.
TRIX 3?
TRIX 14,3 value or ?????
TIA
Stock-trace,
Good to see you back. Good traders always take time off from trading and treat their body that is part of winning strategy. What good is that money if you do not enjoy it? I usually set aside 3% of my profit for this purpose, every month that goes in separate account.
Welcome back.
Those who are very good in predicting they do not sell their advice, who wants to give away moneymaking machine? Those who sell advice they are good from few days to few months.
You are predicting far better then those. You just need a money management system. You are really very good; stick with what you have learned. Stick with few selected trade, write down why you took them, if they work write what went right and if there is loss then write what went wrong. Stop loss on 1-3% use only 5 % equity in one trade. 3 % loss and stop for day then paper trade only. These rules are for day trading. Money management is far important then any technical studies. JMHOP
I am out @ 43.70 I am not ready to short this market.
I was not able to pick that up; was it on daily chart and what ADX setting you are using? Mine is DMI 14 ADX 14, I will be very happy if you can post the chart or link, or settings. I am always looking for some good indicators and there unique knowledge.
I still think we might test 42.80 but that should be a reversal day. Other wise it is a trend change. Market maker do not make money in trending market they make twice in between periods.
As short term trader that what I look far. I went long again 43.52 now looking for same but may sell early.
We are not out of the woods; weak bulls have been flushed like they did to weak bears.
Thanks for sharing. Good luck.
Stopped out now flat, I will be a buyer near LOD with NERS Confirmation.
I am long from around 10:20 Am and still long waiting for 43.80. The reason to go long was double RSI 14,5 bottom at 30 and CCI moving up from -200 and divergence from MACD 12,26,9 on 5 Min CCI 144 chart. I went short @ 43.77 but covered fast @ 43.45 did not went short after word. My thinking is it is shake up during the earnings period they do it every time and after that it goes higher. Is this time it could be different? Very well could be, my bias for rest of the day is bullish but I am not married to the Idea, I am in the market to make money not to prove me right.
Any logical and technical input is appreciated.
My stop is now @ 43.50
If you think we are going up why not buy QLD with tight stop. It did surprise me today. We need to close around 43.95 other wise we could test lower low. AH ok.
JMHOP.
I covered my second short @ 43.92 now long from 43.92 stop @ 43.82.
Gleno I hoped you covered @ break even. We went to 52.82 on QID, if not use tight stops you can always re enter like I did.
Good morning Gleno, we are testing that area, On your call I am covering here @ 44.07and will short again on 2 bar confirmation below 44.05.
Filled on 44.06
You still have 30 cents to go.
Be, I sounded wrong 43.60 not for today.
Be,
You covered good I am still short from 44.35 on NERS set up, my hope is 44, I missed low because of a call. Right now my stop is 44.22. I think ideally it should test 43.97 today. There is 30 % chance that we could test 43.60-area gap from yesterday. Break of 44 will give it more credence. Yes that is JMHOP. I do want to submit again I was wrong many times and I will be in future also so take it with grain of salt.
Good luck.
My target for this move is 44.80, which is not changed. Yesterday closing call was influenced by sudden drop in future and I was wrong on short, hey I am a human being not a prophet, I did recovered early but staying with original plan is working well that position is now will stay in black because puts cost has been covered and long are way in black. I may sell ITM puts against my puts that will release substantial capital.
Thanks that what I used this time, good to have it on QT.
Trading:
Cover the short @ 43.18 I was just uncomfortable with short, Went long and sold @ 44.24 which did went to 44.30 too early sold them looking to buy in the same area, Stop will be 44.10 now short are warranted below 44.10 will short there if penetrated and stop will be then 44.10. I am laying out my plan in advance.
This writing does help me in clearing up my thoughts that what I can achieve here.
Great trading keeps it up, Share with us when you enter with reasoning and tell us your stops, if you use them. Your projections and exit plan.
Taking a risky short here @ 44.25 stop @ 44.30 looking for 44.10, may get out early not comfortable with short today. May be I was bias on bearish side and it turn around.
I have no luck with $TRINQ in symbols or in indices panels I tried my 3 vendors Money.net, E-Trade, TD ameritrade.
Sold my long @ 44.26, 44.35 is ideal but some days move can be up to 1$ I am not shorting here now playing from long side only till we go below 43.95.
Any one know the symbol or format for TRIN / TICK for QT ??
Please Make it unofficial.
Geno34,
Please do not take more then 20 Cent loss in day trading other wise trade long term. Now with this much loss would it be better to have long double the Feb or March 44 calls and waiting for better price It adds a loss, but give you a chance to make some money in long run, I am just thinking loud. You will not cover all loss but with those you will not bleed any more. In medical practice First thing is to take care is airway clearance. Second stop patient bleeding. My previous post meant for you to consider buying those calls.
As plan I went long on 44.10 break out, now looking for 44.30 - 44.35.
W@G2 QQQQ 01/24/07 for a 01/26/07 close
44.80 Farooq
44.70 rayrohn
44.50 quiet (wed already??)
43.95 bob3
43.58 DrWorm
43.50 frenchee
43.19 anderl
Gleno34,
If you were expecting my call is wrong then you should be long QLD not QID. Now you are long QID what is your stop loss?
What is your time frame?
If you are wrong have you bought any calls for protection in case you do not have stop loss?
In case of profit where you will take it, any projection?
Be,
You are very welcome. Could please tell me what symbol format you use for TRIN, and Tick in QT? TIA
Went log @ 43.80 did not filled @ 43.78 bad fill but sold now @ 44.04 the reason of my selling is I think we might try to fill gap one more time.
I have now 18 Cent profit with commission, E-Trade charge me 5 $ on market order and give me back 10% rebate at end of month.
Gleno34,
As plan stop loss was taken @43.85 went long 43.86 sold @ 44, now flat because if we go up we can reach up to 44.34 but I think we will stall @ 44.10. I mentally write my plan ahead of going in a trade like when I am covering I will 90 % go long at same time because reason to cover is I think we can go higher so I should go long at that point. Now I want to see weather we fill the gap or Just shoot up. So far I have 6-cent loss for the day. I will go long if gap is half filled. Good luck, you see how good was your call did you executed it?
I have faith that good desire does get full filled. Gleno34 is a great human being and a great person.
He knows his weaknesses and that is all it take to over come on your short coming. I am a very optimistic person.
Tomorrow we might test lower band of 43.25 so I just shorted QQQQ @ 43.65 in AH. Stop is 43.85
GLENO34,
Day trading has few things in common, most of the ETF trade in a range like QQQQ range is about 50 cents in say 70 percent of the days so what it does it fluctuate about 20 Cents in first half hour and then start a trend which can be good for 40-50 Cents so today it went down to 43.63 that gave us projection 44.03 to 44.13. If we had reversed from 43.80 targets would be 43.50. As a trader if you capture 30 Cents that is very good and that should be your target. Trade short term; and for multi month views use options as spread. Suppose you think market is going down in a month or so buy 46 Feb put for 2.35 and sell 44 for 0.90 your risk is now 1.45 but if you are correct you will make 2 $ for each share if you are wrong in short term which we all are short put will lose money so you can buy them back and that reduce your cost basis. Or plain Vanilla if you are short buy equal calls to hedge, if you are day trading then 10 15 Cent stop loss. You need to start with real money when you have 70 % + paper results.
Another way is to use some service like TMG and follow them, I have modified NERS according to my needs and it is working well.
So good luck and trust me with hard work you will make it. Always keep it simple.
GLENO34,
You should use trailing stop. In most cases it cost only 10 bucks to re enter. Do not let your profit become a loss, now my stop loss is 43.60, it is only 5 cents away from price but that what I was expecting. I will wait here what market decided to give me. You make great calls but you need to work on game plan. It will sound bad but do not let greed eat your profit. If you are trader then work like trader, do not become investor. Suppose you have a loss and if you are investor then do not take a loss on few days stay calm if you try to ride both boats you will be no where. It is not you are interpreting indicators wrong the fault is in implementation. As a fellow trader I become sad when any one of us loose money. I am extremely sorry if in any way I hurt your feeling. I just want to see you successful trader, and that is from bottom of my heart.
I am out of short @ 43.55.
No long yet may enter @ 43.45 or 43.50 with 10 Cent stop loss. Covered my short calls Feb 44 @ 0.60 on CBOE
Gleno34,
I hope you do not mind me asking , What is your cost per trade?
How big size you trade?
TIA
How much you pay per trade?
I already sold to you, now short from 43.92stop @ 44.02.
Now I am LOL.
I read your other post later, wise move my stop is now 43.85 but better to make some thing then nothing.
I am still not short, this market is resilient to go down, good idea to go long at break out with volume; I might be selling you in that strength. Professionals sell in strength and buy at weakness. Rule to remember. If we go above 44.04 I will be long again.
2X-Be-Me,
Use stop loss whatever number you are comfortable with. If you have profit do not let them become a loss, a small profit is still good for you mental trading well being then a loss. Making small profit gives one confidence that one can trade for living that is how I learn. In a restaurant some time they make 2 bucks on a customer and some time few thousand on a party, but they never refuse any one as long as they are making some thing.
So never be hesitant to take profit or a small loss which usually become bigger loss. JMHOP.
Good luck.
Be,
I need to see the evidence and that is closing below 42.80 till then I think we are in uptrend and only weak hands are shaken out since I do not know future I am long with Puts and trading. Be, we mostly miss the market because of fear if we stay in with proper measure 1-2 % protection make it self out. We usually take 20 30 % hair cut rather buying 2-3 % protection. I like your trading keep sharing with us.
I do think for a new up leg we are resetting indicators. These are just very good short-term trading opportunities and after that a long slow upward process and this is JMHOP. Just remember I was wrong many times before.
Be,
If you take long it takes less then penny to be out so the risk from yesterday was warranted with tight stop, I am taking some profit @43.92 to 44.02 do not know exactly where. I am usually early in getting out it like getting in, this time I like to time on NERS.
My thinking on out is that participants will try to retest yesterday’s lows soon. This trade will make my 43 Feb Puts nearly free.
Be,
After triple witching, Monday is down and Tuesday is up, Market need to retest previous break out and get rid of weak hands before going up. We may test 42.80 before any strong up move but it has low probability.
JMHOP
I trade 5k block or less with E-trade and that has nothing to do with this but I do trade with hedge, usually I buy 2% out of money puts for longs and 2% out of money calls for shorts 2 month out. With NERS this hedge is becoming useless, but if I carry over a day I will still do same way. Those trades are for 5 to 20 cents mostly but at end of the day they add up. If I have 3 consecutive losses I stop day trading and my stop is about 10 Cents for every trade. For day trade I use only QQQQ. Puts and calls act like insurance, which in my opinion every business should carry. Oh yes I report all these on schedule C because this is my business. My CPA advised me in 80’s that I should set it up as business so I did, which is very helpful in taxes, I need to mark to market all positions at end of each year and I try to start with blank page every year.
I do like that we all should share our knowledge in all areas that does help every one.
Thank you for kind words.
All MA are lagging indicators, but you may be right that is why there is hedge. I am not a prophet and I do not know future so I always consider what If I am wrong and that is the reason to put buy, although ideal situation would be selling calls so while you are waiting one can eat some time premium but ITM calls do not have enough premium, every body is expecting a down market so no buyer of calls hence no premium that is another contrarians indicator for a week, Some one bought 10000 puts for Feb 44 @ 0.70 on ask which give me some confidence that we will close above 44 at expiration.
Just to remind you this is not part of my day trading it is a position trade that means more then few thousand shares.
d-k it takes a lot of courage to post a complete trade, people remember you for long time if you are wrong. With this set up seem like so far one is able to do five trades and make at least some money on each one.
I still think we will be higher in a week then where we are now because it is a retest of break out only, so I am going long here @ 43.55 with protection of equal amount of 43 Puts this is 1-4 week trade. Target is 44.80 area after 44.05 trade will be profitable, max loss scenario is 2% 55 Cents + loss of premium on puts.
Other way is to go long and put a stop @ 42.80 but they can run stop in short term. This pattern will have high probability if we close above 43.80.
JMHOP. Do your own D/D.
Good luck.
W@G1 QQQQ 01/22/07 for a 01/24/07 close
44.76 frenchee
44.85 Dr. Farooq
NovoMira,
I do not know the resistance at this time but first support is @ 92 and then gap support @ 86 if market goes in to serious correction then July August low.
I do suspect minor resistance at 101 areas and new high resistance at 128. I think first a correction is warranted here but market does what people do not suspect, so with 92 supports retest is important here. I hope it help.