Aug 1, 2007

CEPH - Short

Action was pretty weird today but at least I found a lot more setups than what I've seen lately. Here's my CEPH trade:

  • Placed fibs. from 1st bar low to 3rd bar high
  • Price came back down and started basing around the 50% level (there were a lot of base plays today)
  • Entered short on a break of the 10:15 bar low (shooting star with a long upper tail bar prior to it)
  • My stop was at the 50% level and I thought I might get stopped out but price quickly reversed
  • Exited during the 12:35pm bar near the fib. ext. (wanted to grab profits)


EDIT: I just noticed that volume on the entry bar in the chart above is not 1.25x greater than the previous bar. I went back to my trading computer (I post from my laptop) and did a screenshot since my chart was still up. Anyway... you see that the volume did show it was 1.25x. Guess the data might have been wrong and corrected itself later on.

24 comments:

Jamie said...

Congrats - nice trade!

CEPH used to be a watch list stock for me, but I recently removed it because the list was too long. I like the setup on the 15 min. timeframe as well. My gapper trade of the day was AMKR off of the Briefing.com gapper list.

Jamie said...

There's something a little worrisome about a chart that corrects itself after the entry has been taken. I'm a little confused, but just to let you know as future reference my Esignal chart looks identical to the first chart on this post.

OONR7 said...

thanks Jamie... congrats on AMKR. I saw AMKR but just flat out dropped the ball.
The volume issue bothers me too and it's not like this has happened before (at least not with volume). However, I have had issues with prophet's feed in the pass and actually signed up with IQFeed which proved to be no better. I hadn't had a problem for a long time but I am going to keep my eye on it.

Anonymous said...

i must have missed something? are you looking for 125% volume of the previous bar when you enter?

thanks

QQQBall

OONR7 said...

qqqball - no, 1.25x is 25% more volume than the previous bar. Just a different way of looking at it.

Anonymous said...

so you're looking for your entry bar to have 25% more volume than the previous bar? wow, somehow i missed this.

gracias!

QQQBall

Jerry said...

The data today is delay on stockwatch for more than 25 min. So I guess it the main source all provide are using.

Jamie said...

OONR7,

I recently started playing around with QT for charting. I was using IB as my data feed. I understand that you use Prophet for gap data feed.

One thing that bothered me was the discrepancies between my Esignal and QT charts. Every 15 min. bar was off on every single chart. It did not change the overall setup, however, a hammer on one chart was just a regular stick on the other. I then checked against stockcharts.com and noticed that 99% of the time, the Esignal and Stockcharts were the same stick by stick incl. vol. Not sure, but it seems that QT chart data is off by about 60 seconds.

Also, could not find the Fibs. Do you need to subscribe to get Fib indicators?

Flatwallet said...

Since we both traded CEPH, I would like to congratualte you on your exit. You almost picked the bottom and that was smart. I expected it hit the low $69s but I bailed too soon. One day I will learn. My Hats off to you. Nice entry and great exit.

Anonymous said...

Jamie,

You don't need to subscribe to get the Fibs in QT. You can access them in the toolbar that shows up when you move your mouse cursor to the upper left corner of a chart.

By clicking on the "shapes" icon from the toolbar (2nd on the right, there is circle, a rectangle and a line on it), you can then choose the “Fibonacci Retracements” as your drawing tool. If you can't see the toolbar, right-click on a chart, go in the "View..." menu and choose "Show Toolbar".

By the way, you can get all your answers quickly if you contact QT's support staff at : support@quotetracker.com. You don't need to be a paying customer to get support from them.

I don't think using IB's data feed is the best option. I would normally recommend DTN, but they have been updating/adding servers and their data has not been very reliable in the past few weeks so I would definitely not subscribe now.

Cheers,

NoGreedNoFear

Jamie said...

NoGreedNoFear,

Great, thanks for all the info!

bl said...

oonr7, nice work with CEPH it was on my watchlist from Briefing...the "lazy man's scan."
I traded SIRF 9/1" min bar which lined up with the 5Fib yesterday's close--today's OR low. Something new I'm trying. A bit premature and got out quickly ...as it road down another 2+ points. Oh boy!Thrs I'll include Wed ah watchlist and Thr pm watchlist. Also traded GRMN for be. I'm seeing for myself a small watchlist fits my comfort zone where I can really focus on a few issues and zero in on all the Fib levels candles 5/13 ema pull the trigger otherwhise I get scattered. Does anybody favor certain price levels which might offer higher % moves??

OONR7 said...

Jamie... you can also draw a trendline to get your fibs. So, on the chart, simply draw a trendline from the low to high and then right click on the trendline. You'll see an option to convert to fibs.
Of course, if you contact support@quotetracker.com and ask them to add an automatic intraday fibonacci line feature, that would make things a lot easier :)

OONR7 said...

jamie... let me also add that I've been down the 'bad data feed' road before and, frankly, I don't see any great solution. I honestly don't know why all the indices don't just use the same data feed. Maybe I'm naive. And, if you're using the Esignal data feed in QT, there should be no difference in the charts... that's a big problem and you really should contact support.

OONR7 said...

Flatwallet: thanks, I was really looking for it to hit the fib. ext. and just waited.

bl: congrats on SIRF. I definitely agree that the shorter you can get your watchlist... the better. That's why I immediately remove stocks that hit their intraday fib. ext.

Jamie said...

OONR7,

Thanks for all the info and suggestions.

OONR7 said...

nogreednofear: your way of using the fib. tool is better... I didn't even realize that option. That's will save me about 3-4 secs per chart :) Excellent suggestion.

Anonymous said...

There is a feature I really like also in QT that some of you might not know about. If you right-click on a chart, then "View..." and select "Show Candle Countdown". It adds a timer to the upper-right corner of your chart and basically gives you how much time there is left to the current candle.

Cheers,
NoGreedNoFear

OONR7 said...

yeah... knew about that and tried it for a bit but I really didn't find it helpful.

Anonymous said...

"...if you're using the Esignal data feed in QT, there should be no difference in the charts... that's a big problem and you really should contact support."

Yeah, tell me about it. I use QT and just recently subscribed to Investor/RT. Both of these programs use the same data feed (DTN) and they don't draw the same charts ! I've talked to QT, Investor/RT & DTN and nobody can really figure it out.

Really hard to pull the trigger on a trade when the same chart on 2 different platforms is telling you a different story.

NoGreedNoFear

OONR7 said...

wow... big problem. Not sure what style of trading you incorporate, but as Jamie mentioned before.. the difference in charts could be huge (a hammer versus a candle with an upper tail). Now I'm all freakin' spooked. Looks like QT will be coming out with another update :)

Anonymous said...

I wish I could post screenshots here so you guys could see how bad it is. Any variation to a candle can make or break a trade.

By the way, I suggest you guys use the latest (Beta) version of QT : 3.8.5E BETA. This one uses the seconds timestamp from the DTN data feed, for backfilled data, which previous versions didn't use. This means more precision in your data.

One of these days I will get tired of all these data problems and go for the high-end providers like CQG (400-500$/month).

By the way OONR7, you must speak french, right ?

NoGreedNoFear

OONR7 said...

I must... but I don't. I can get by and most folks understand me, but I've had more than a few roll their eyes and give me a weird stare like "what ze hell iz he talking about?"

Anonymous said...

Heheheh... funny :)

NoGreedNoFear