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Well if Oil does turn down from here looks like you timed your trade pretty well Cap.
The Apple of Mr. Market's eye... for now.
According to FactSet, Apple currently has a market cap of $1.07 trillion, which amounts to a weighting of nearly 4.5% in the S&P 500. Topping a 4% weight puts the iPhone maker into rarefied company; according to The Leuthold Group, only five companies since 1990 have amassed such influence. In addition to Apple, the others include: Microsoft, General Electric GE, Cisco Systems CSCO, and Exxon Mobil XOM,
Such a milestone rarely lasts for long, however. GE, the company to hold this designation for the longest, only acted as a 4% weight for 15 months, as seen in the chart below.
Hello sir,
Bummer buddy, but I would happily miss some gains to go fishing in North Dakota at the moment! :)
Where did you go & Lake or river?
Good trip?
Aside from the price movement that's some big news for the miner, wonder how differently it will move on the charts from here on..
Interesting how after pulling back it closed just .01 over that old support I've got marked of 11.07 on the 3 Day..
No sir, if i was around just after open I'd have liked to!
So I grabbed some SPY puts a week out as a hedge, we closed weak today but no telling what happens tomorrow, a day after Fed. I remember when reversing the day after was rull of thumb lol
I've got a stop in @ just above entry so I don't lose $$ unless we gap down hard tomorrow.
We held the Fib .23 retrace on the 60 min for the day, fwiw..
FXI has the same look actually, it was a toss up..
EEM is forming that bullish falling wedge, something to keep in mind..
Sooner or later it will break upward I think..
That wasn’t a recommendation Cap!
Remember, I’m just a Dent guy : )
OT~
I know it's kinda last minute and you might be aware already... but some reading for you. Over Vac. is one of my pet peeves sir!
Every year I would go thru their list of shots and, no, no, no, ok, no, no ect..
https://www.naturalnews.com/2017-03-05-veterinarian-pet-deaths-over-vaccination.html
https://www.facebook.com/PlanetPaws.ca/videos/1404799696261575/?hc_ref=ARRYeFsmVjP8BBk28ShdH5FEDhWCj2YiIzoJTWiEZyCyqew80GS54syg2kdkKA_dspk&__xts__[0]=68.ARAJlD2bFWiOASKhy9gEMWkFg_4w_ptFysyUF3pTag3S6mkD2XokEyGfzAvcJDhWAX3x2ZJuHykM28E-8ZbqN3cUZCSiCDp-uuJ_vLkdB4aLlyPx9uBkiTPT_wkpZBIbBvmEUt8TfYgX6ZbWM9oMd1_nEMd8pEt-TCEMJJT6cpcNNQtZlxSwYQ&__tn__=FC-R
Gotcha, have a good day sir :)
GM EZ!
What are you doing up so early?
Good luck on the set up Cap, I like the looks of the TRIX..
Using the 60 min how far out do you figure on buying the options? If options is what the plan is..
GM sir!
Congrats if you're still long ABX buddy, up nicely premarket :)
"Barrick is buying Randgold to create the world's top gold miner"
https://money.cnn.com/2018/09/24/investing/barrick-randgold-merger-deal/index.html
Hi Buddy!
Did I ever tell you how stinkin HOT it gets down here!!
I'm swimmin in the heat & humidity today :(
Thanks sir...
I spend tons of time looking back & seeing how ideas work in the past on the charts, so agreed! Not so much # of wins & losses as much as how large are the losses compared to the gains..
Love MAs as signals, support, resistance ect... One reason I like using Heikin Ashi is if I'm leaning on the use of MAs why not use an average of price bar..
One thing I've been able to do most of the Summer is wait until the last Hr of the Market before placing a trade,as close to close as I can, it helps cut down on the false signals quite a bit. It's gotten to the point where a most days the first and last hr is all I pay attention to, the rest is mostly algo noise. Working well, the few times when I broke that rule I usually paid for it!
Anyway, we all have our different styles, no doubt about it.. But always like it when you chime in buddy, keeps me grounded lol :)
Here's the 1 Day same setup..
I have to get, G'night sir!
Any thoughts always appreciated from ya buddy... but go easy! lol
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143670395
Sir!
So I'm tired of the short term plays! Watching close, trade fees ect..
Been working on it the last few days till my eyes are shot.
I like the HMA's I was using but when I stretched the time frames out it seemed to just create bigger lags and lots of false signals. I know there will always be lag, especially using Heikin Ashi.
Circled are the crosses, not bad.. I mean who picks exact tops & bottoms!Only the advertisers lol
I made up a 2 Day chart using the 4,5,10 ema, mainly watching for a 4 & 5 cross. It seems to work alright & I can mainly buy options a month out instead of the 10 days I've been..
This set up would have kept me in that run from July to Sept. had I just rolled over.. That's a nice chunk of change right there..
Hi Buddy,
Well that was the only Dart that hit the board and stuck so that's the one I went with :)
Thank you sir!
I caught that reference to Sick Mick on that other board Cap, lol
Came across this just now & needed a place to put it,lol! Hope you guy's don't mind.. I still don't know much about how to print stuff out very well, lol!
A reply to someone having trouble with discipline in trading....
I cannot tell you what to do, but what I can do is tell you a few things that might help:
1. Learn a stock/currency pair. Model your system for A SPECIFIC PAIR OR STOCK and back test against that one stock or pair EXTENSIVELY, doing small modifications until you have a SUPERLATIVE MODEL for that stock/currency pair
2. Trust your plan on the specific stock/currency pair it was built for ONLY !! If you do this for 2-3 stocks/currency pairs successfully, you will have most people in the market BEAT !!
3. Once you have completed the backtesting; add cash to the system SLOWLY !! Work on building confidence over time. If your system is SUPERLATIVE for that specific stock/currency pair; there is no rush to go 'all in' as it will keep you on the winning side for many months to come/many years to come.
4. Set small goals once you are SLOWLY putting cash behind your plan. Go shopping. Find an item you want and, based on how much on average your system returns when you win, see how long it would take to BUILD THE ACCOUNT so a small, disposable amount of cash would be the start and end would be you have the cash to get what you want.
The benefit here is, as you are testing with cash SLOWLY, you are giving yourself a treat as you iron out the details of your trading approach and what you have done/own now becomes tangible reaffirmations to the inner self you built a 'money tree'.....and also, that if needed you can build another one in a similar fashion
There's a 4+ hours series of Mark Douglas teaching psychology at a seminar.
I bet these people paid good money to be there and we get the benefits for free.
He's the Author of "The Disciplined Trader"
I listened to the first hr so far, pretty good. The guy's got a pretty good story trading silver futures when he started, lol...
Here's a link to the first of four videos.
Our Extremely Split Market & What That Has Meant Historically
Posted on September 16, 2018 by Rob Hanna
http://quantifiableedges.com/our-extremely-split-market-what-that-has-meant-historically/
Stopped out on Friday after China Tariffs announced. Made some green but gave back a chunk of gains made.. thinking stops were too tight & higher Monday, we will see..
Glad to hear it Cap!
Thanks for checking in!
Thanks Jax, I don't know, AAPL was looking pretty weak today.
We will see..
Hi Buddy :)
Yeah still around, been trying to cut back on the 'puter time.
Eyes are feeling pretty fried last Mth or so. I get to appointments & it looks like I smoked a fat one on the way, lol.
GL Cap, the Atlantic sure is starting to get busy. We've been lucky so far this Summer. That sure has changed..
GM EZ!
Sorry sir, just been busy.. Hope you have been spending time in the green! :)
Richard Donchian Trading Rules
Ed Seykota is a legend in the trading world. His ability to produce consistent returns for decades, and his masterful growth of his client’s accounts has earned him a place of distinction. But who inspired this Market Wizard’s trading methods?
Richard Donchian
Richard Donchian didn’t begin his successful trend following system until the age of 65. He was very successful and continued to trade into his 90s. While he operated primarily in the field of commodities, his technical analysis is applicable to any market.
Donchian’s 4 week trading rule system has been at the heart of many successful trading systems, and is one of the simplest and most profitable ways to trade trending markets. People tend to think complicated is better, but the 4 week rule is a straight forward way of getting you on the right side of a profitable trend. Note that this system was also Richard Dennis’ inspiration for his trading methods, and was taught to the legendary Turtle Traders.
Apart from the 4 week rule, Donchian did work with a five and twenty day moving average crossover signal system, and devised buy and sell rules using a weekly time period.
During Ed Seykota’s interview in the book Market Wizards by Jack Schwagger, Ed describes the influences that Richard Donchian had on his trading system. While Donchian used a five and twenty day moving average cross over system, Ed used exponential moving averages (where more weight is given to the more recent data to calculate the moving average). This occurred in the early 1970s – when computers were new and very slow. For example, Ed tested approximately 100 variations of four simple trend following systems on a computer was the size of a room, and the tests took him six months to complete.
Anyone who inspired one of the world’s top traders is someone who deserves our attention and study!
Donchian’s 20 Trading Guides (First publication: 1934) General Guides:
* Beware of acting immediately on a widespread public opinion. Even if correct, it will usually delay the move.
* From a period of dullness and inactivity, watch for and prepare to follow a move in the direction in which volume increases.
* Limit losses and ride profits, irrespective of all other rules.
Light commitments are advisable when market position is not certain. Clearly defined moves are signaled frequently enough to make life interesting and concentration on these moves will prevent unprofitable whip-sawing.
* Seldom take a position in the direction of an immediately preceding three-day move. Wait for a one-day reversal.
* Judicious use of stop orders is a valuable aid to profitable trading. Stops may be used to protect profits, to limit losses, and from certain formations such as triangular foci to take positions. Stop orders are apt to be more valuable and less treacherous if used in proper relation to the chart formation.
* In a market in which upswings are likely to equal or exceed downswings, heavier position should be taken for the upswings for percentage reasons – a decline from 50 to 25 will net only 50% profit, whereas an advance from 25 to 50 will net 100%
* In taking a position, price orders are allowable. In closing a position, use market orders.”
* Buy strong-acting, strong-background commodities and sell weak ones, subject to all other rules.
* Moves in which rails (transportation) lead or participate strongly are usually more worth following than moves in which rails (transportation) lag.
* A study of the capitalization of a company, the degree of activity of an issue, and whether an issue is a lethargic truck horse or a spirited race horse is fully as important as a study of statistical reports.
Technical Guides:
A move followed by a sideways range often precedes another move of almost equal extent in the same direction as the original move. Generally, when the second move from the sideways range has run its course, a counter move approaching the sideways range may be expected.
* Reversal or resistance to a move is likely to be encountered 0n reaching levels at which in the past, the commodity has fluctuated for a considerable length of time within a narrow range on approaching highs or lows
* Watch for good buying or selling opportunities when trend lines are approached, especially on medium or dull volume. Be sure such a line has not been hugged or hit too frequently.
* Watch for “crawling along” or repeated bumping of minor or major trend lines and prepare to see such trend lines broken.
* Breaking of minor trend lines counter to the major trend gives most other important position taking signals. Positions can be taken or reversed on stop at such places.
* Triangles of ether slope may mean either accumulation or distribution depending on other considerations although triangles are usually broken on the flat side.
* Watch for volume climax, especially after a long move.
* Don’t count on gaps being closed unless you can distinguish between breakaway gaps, normal gaps and exhaustion gaps.
* During a move, take or increase positions in the direction of the move at the market the morning following any one-day reversal, however slight the reversal may be, especially if volume declines on the reversal.
Linda Raschke’s 12 Technical Trading Rules
Market Wizard Linda Raschke’s Technical Trading Rules
Buy the first pullback after a new high. Sell the first rally after a new low.
Afternoon strength or weakness should have follow through the next day.
The best trading reversals occur in the morning, not the afternoon.
The larger the market gaps, the greater the odds of continuation and a trend.
The way the market trades around the previous day’s high or low is a good indicator of the market’s technical strength or weakness.
The previous day’s high and low are two very important “pivot” points, for this was the definitive point where buyers or sellers came in the day before. Look for the market to either test and reverse off these points, or push through and show signs of continuation.
The last hour often tells the truth about how strong a trend truly is. “Smart” money shows their hand in the last hour, continuing to mark positions in their favor. As long as a market is having consecutive strong closes, look for up-trend to continue. The up trend is most likely to end when there is a morning rally first, followed by a weak close.
High volume on the close implies continuation the next morning in the direction of the last half-hour. In a strongly trending market, look for resumption of the trend in the last hour.
The first hour’s range establishes the framework for the rest of the trading day.
A greater percentage of the day’s range occurs in the first hour then was the case in the past, and thus it has become increasingly important to trade aggressively if there are early signs of a strong trend for the day.
There are four basic principles of price behavior which have held up over time. Confidence that a type of price action is a true principle is what allows a trader to develop a systematic approach. The following four principles can be modeled and quantified and hold true for all time frames, all markets. The majority of patterns or systems that have a demonstrable edge are based on one of these four enduring principles of price behavior. Charles Dow was one of the first to touch on them in his writings.Principle One: A Trend Has a Higher Probability of Continuation than Reversal
Principle Two: Momentum Precedes Price
Principle Three: Trends End in a Climax
Principle Four: The Market Alternates between Range Expansion and Range Contraction!
In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word – Nobody! Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen.