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- 105 Results (53 Replies, 52 Comments)
- Gregory_ replied Dec 4, 2015
I would say, for me personally, I would only enter a trade, if I knew I could manage it with a reasonable amount of success. How do I describe this in more detail? I define "a reasonable amount of success" through experiential knowledge. For ...
- Gregory_ replied Dec 4, 2015
I agree 100% with James16 about demoing first. I completed 5 months of demo trading on D1+ on the James16 website, and prior to that experience, I had always "p'shawed" demo trading. It changed everything for me. Here are some thoughts that I wrote, ...
- Gregory_ replied Dec 4, 2015
To contrast the small BEOB with a better BEOB, consider this alteration in the BEOB's shape, size, and close. I would definitely expect something of this magnitude to overpower the up-move and at least make it to the yellow line, which I would ...
- Gregory_ replied Dec 4, 2015
Sorry, I should clarify, the BEOB is too small. The PA bar marked in the original picture is a BEOB, and I believe someone already pointed that out.
- Gregory_ replied Dec 4, 2015
Here are my brief thoughts. Also, I am not sure if you mean a 30% loss in a real account or a demo account. Just for me personally (everyone is different), if I lost 30% in a live account, I would force myself to go back to demo for a while. image
- Gregory_ replied Dec 4, 2015
This picture might help explain swing points. image
- Gregory_ commented Nov 21, 2015
Also, Interactive Brokers notifies me when my account is up or down a certain percentage (this can be changed as needed but starts as a default of about $1,000). Therefore, if I had been in this scenario, when the after-hours market went up $5 in 30 ...
- Gregory_ commented Nov 20, 2015
Interactive Brokers (IB) allows me to trade foreign stocks, U.S. stocks, options, currencies, bonds, warrants, pretty much anything out there (no poker though ). I love the interface. Many do not love the interface. There is a learning curve, ...
- Gregory_ commented Nov 20, 2015
I guess you could take up poker?
- Gregory_ commented Nov 20, 2015
What this means is that only programmers will have stop loss orders. This is what I will do. I will write a program to automatically "stop" me out when price hits a target.
- Gregory_ commented Nov 20, 2015
Woah, I had no idea NASDAQ was phasing them out too. WOW. Thanks for the post.
- Gregory_ commented Nov 20, 2015
Yes, this is an odd idea. Instead of doing this, they should just open the market 24 hours a day. I will be avoiding the NYSE as much as possible. If I can trade a stock on BATS or another exchange, I will not touch the NYSE. In my mind, this is a ...
- Gregory_ commented Nov 20, 2015
Yes, absolutely. This is how to do it. If the price gaps, the OTM options you bought will cap the loss. Very simple. Options are a complicated instrument few understand. I intend to spend extensive time on them in the coming years, as they are an ...
- Gregory_ commented Nov 19, 2015
1 final point. If you look at the M5 chart on this stock, You will see that it began to rise at around 4:10 EST on 11/18. It took 30 minutes for it to get to above $7. And it did not get to $18 until 7:30 EST. This could have been managed in after ...
- Gregory_ commented Nov 19, 2015
I suppose the guy could have put his stop above yesterday's high. Let's say $0.50 higher. That would be $2.68. Spread 3% risk across that and you end up with (($18-$2.68)/$0.50)*3%=91.92% loss So, I can see where Rob Mondave is coming from. Still ...
- Gregory_ commented Nov 19, 2015
3% risk spread across a $5 stop (meaning a stop loss at around $7.17) would have put his stop loss behind the recent strong consolidation to the left on the chart. The stock hit $18. 18/5 = 3.6. Price would have gapped up less than 3.6 times his ...
- Gregory_ commented Nov 19, 2015
According to the statement, the seller had 8,361 shares (approximately) short. For a $2 fade, as stated, that would have almost brought him a 50% increase in account size. It is easy to put the cart before the horse. I have done it many times, as ...
- Gregory_ commented Nov 19, 2015
Terrible situation. This is why proper risk management is so important. Using 3% risk and placing a stop loss behind important consolidation levels would have yielded, potentially, only a 14-15% loss here instead of the insanity of what happened.
- Gregory_ commented Nov 18, 2015
Instead of eliminating a practical risk management technique, they should keep the market open 24 hours a day.
- Gregory_ commented Nov 6, 2015
Sorry, I did not see this post last week. This is definitely not my methodology. These are James16 basics. I owe any accurate readings to the teachings from that group. Green pips to you too.