AI
Monday, September 24, 2018 10:29:35 PM
Hi Tim, the thing I like about the .786 is that one can buy a decent amount of shares since the stop loss is pretty minimal, then you can scale out at previous highs and gap fills etc.
Hard to tell when a trend will end.
These are some videos that I like for finding exits
I recently got this idea using the momentum 28 and or MACD 9/18 to trade off a divergence and then buy the break above the middle of the divergent high.
Got it from a book called The Ultimate Day Trader by Jacob Bernstein
Been getting burned by trying to catch the bottom and have decided to wait for momentum to shift up a little instead. Here is another idea
I also keep a written journal and every weekend I review it and in the column that says "reason for entry" I have way too many "IMPULSE BUY" entries which means that I didn't wait for a buy trigger and was either trying to catch the exact bottom or was buying just off the divergence and not waiting for the break out buy trigger or the .786 dip etc.
For a current example, I am sitting on my hands trying to wait for a buy trigger on DWT and DGAZ.
DWT is at the bottom of a trend line and with divergence, soooo tempting
DGAZ soo tempting at this level.
I got lucky today and was able to trade TVIX from my entry on Friday
Sorry for the long replies, as I am reviewing the charts I figure I might as well post them. LOL
And lastly, when it comes to penny stocks, I like to use the same ideas but on the daily time frame. This was a stock that someone posted on a while back that the company was debt free now and so I have been watching it and bought just under .22 last week.
I almost always try to trade off a divergence when looking for an entry in one of my strategies. I try my best not to worry about catching the bottom any more.
Hard to tell when a trend will end.
These are some videos that I like for finding exits
I recently got this idea using the momentum 28 and or MACD 9/18 to trade off a divergence and then buy the break above the middle of the divergent high.
Got it from a book called The Ultimate Day Trader by Jacob Bernstein
Been getting burned by trying to catch the bottom and have decided to wait for momentum to shift up a little instead. Here is another idea
I also keep a written journal and every weekend I review it and in the column that says "reason for entry" I have way too many "IMPULSE BUY" entries which means that I didn't wait for a buy trigger and was either trying to catch the exact bottom or was buying just off the divergence and not waiting for the break out buy trigger or the .786 dip etc.
For a current example, I am sitting on my hands trying to wait for a buy trigger on DWT and DGAZ.
DWT is at the bottom of a trend line and with divergence, soooo tempting
DGAZ soo tempting at this level.
I got lucky today and was able to trade TVIX from my entry on Friday
Sorry for the long replies, as I am reviewing the charts I figure I might as well post them. LOL
And lastly, when it comes to penny stocks, I like to use the same ideas but on the daily time frame. This was a stock that someone posted on a while back that the company was debt free now and so I have been watching it and bought just under .22 last week.
I almost always try to trade off a divergence when looking for an entry in one of my strategies. I try my best not to worry about catching the bottom any more.
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