Oct 18, 2007

Missed trades

I was looking at an early setup in ABX off the 2nd bar high (15-min) but price dropped quickly during the 3rd bar and I basically ignored the trade. Would've been good for a nice quick gain.
 
With LOGI, I was actually planning on buying on a break of the 10th bar high (15-min), but that never materialized and I pulled my order. However, the next bar was still NR and volume decreased even further and I said I would keep my original buy order in place. But... I went to clear my chart to see if the top tail in the second bar was just a data glitch and when I did that something weird happened with QT. After a couple of minutes, I realized I needed to log on again. By that time, price had already gone past my entry. Would've been good for at least a point.

 
Bottomline: Great plan... poor execution :)

 



20 comments:

Jamie said...

I was also contemplating that ABX trade but decided against it for the same reason you did.

Jerry said...

I have same problem with QT the last few days. Also, the volume and time & sales doesn't register correctly (normal shutdown or hang).

They still cannot fix it as of now

greytrader said...

I was looking at LOGI, break of the 13:45 bar. Did not take it because of the second bar... The 11th bar was also a NR7 :-)

Missed SYT, it was at the bottom of my list and I missed the BO after the 8th bar (15). The bid went up quickly, not sure I would have gottin in anyway.

greytrader said...

OO,

In my search to replace ProphetScan, I joined the 30 day free trial of yahoo finance real time data. (13.95/m or 131/year). This morning I used MarketTracker and the stock screener. The stock screener works well with real time data. It has a gap from previous close (%) criteria which is perfect, not gap and holding like ProphetScan. I did Gaps greater than 2% volume > 100k avg vol > 200k. They have other cool filter criteria that I will experiment with.

Once you have the results, as you know, you can not sort by vol in the screener. But pressing the "add results to portfolio" button adds the list to MarketTracker. In MarketTracker, you view your lists with real time data and you can sort by volume. Unlike ProphetScan the volume is updated realtime, so as you scan the list to import it to QT, you still have real time data. I used a gap up and a gap down list. Worked like a charm today, do not know about reliability yet, first day trying it. Looks promising for a one stop gapper gopher :-) Any progress with you Trade-idea software ?

QQQBall said...

IQCharts has a gap up & gap down list, you can do it by each exchange. the data is supposed to be RT, but it definitely lags. i like the charts, but the fibbo doesnot plot extensions, which is a PIA. you can custom scan for gaps with IQCharts. i think the cost is $39 to $49 per month, but since i have to pay another $28 for reliable RT quotes, its too much. Trade Ideas has the ability to scan for charts. i can see im probably headed for RealTick.

i wont good fast quotes, scans that import right into charting software, lined charts and charts with Fibbo extensions. phhheeew!

ISIL short
ESLR long
BAC short (small loss)

when i get vetter, ill flip directions at teh fibbo extensions.

QQQBall said...

ASTI was a great "upside-down" gap trade - gapo down & run-up.

John S. said...

I played LOGI today, bought at the 0.618 retracement, around $34.91, but felt the trade was going against me and got out at 34.98, since I figured if it couldn't hold 35 bucks, forget it. . But, turns out it would have been a good trade. .

bl said...

NR7, I use the Briefing WL(+8/-29) but add a few/hot sector: solar shipping china: looking for the most bang for the least risked buck. I have a China page, Solar&Shipping page with charts...that would have been interesting to look at from the get go. Non gappers do move. Traded LOGI with poor entries but made out: 7&11/15 would have been ideal. dsx upgraded(Br WL), and the sector went crazy in sympathy: exm tbsi prgn anw drys fro omg!Other day it was mdt with stj bsx. Somtimes the Br WL charts don't look gap tradeable like + gaps: wcc txt bax wcc dsx syt palm nok but some do move. Should be some sndk(-2 pts) sympathy Fri.

Jerry said...

greytrader,

Do they use candlestick chart now?

When they first came out, I tried them out and no candlestick chart and gap screener wasn't there.

QQQBall said...

BL.

i havent quite gotten accustomed to the flow of the Soalr stocks. they move kinda "different."

John S. said...

Could someone look at XFML and tell me if that would be a NR7 candlestick on the daily chart.. Volume is less. Looking at a possible entry, with a stoploss right below $7.50, roughly 50 MA.

Thoughts?

Thanks, John

John S. said...

Never mind on XFML, just remembered tomorrow is Option Expiration day. . This thing is most likely pinned to $7.5 Strike price tomorrow. .

greytrader said...

Hey Jerry,

They have candlestick now. Their new chart beta (pre-release I guess) are cool.

Again, I am just trying them out so I will let you know how it goes. You can try their 30 day free trial.

bl said...

qqqball,
Check out spwr 3/15 hammer...10 pts from there. WOW!!!!!!!!! It was upgraded 2(?) weeks ago to $100. Jaso also to $60. Watch it!

OONR7 said...

gt: You know, I think I'm gonna give Trade-ideas one more month. Frankly, from what I can tell so far (and I'm no expert at it) I don't see how it will drastically improve my trading or, more importantly, my results. I mainly deal with gappers so I don't think they will provide any new candidates in that dept. Then, I look for particular candles and patterns and while they may have an alert for it... if I'm already scanning my manageable watchlist, I just don't see the benefit and the justification for the added expense. Again, I'll probably keep it for another month but I'm not 'blown off my feet' by it right now. We'll see if that changes.

OONR7 said...

gt: looks like you're looking into yahoo finance for their scanner capabilities. Let me just toot IB's horn again because the platform comes with a built in scanner that's pretty darn sufficient. I remember another positive from switching to IB from Etrade... stop-limit orders. I couldn't place stop-limit orders in Etrade unless the stop price was .10 above/below the current price. Not sure if that's exactly the case... but I do recall issues with stop-limit orders. With IB... there's none of that (and I would imagine other platforms are similar). Also, because I'm looking at very narrow bar entries, I may start buying in fixed lot amounts and using QT integrated order feature. I've tested it out a couple times and it works very smoothly.

OONR7 said...

gt: check out what happened to KNX (15-min) at S4. Pretty interesting.

OONR7 said...

um... NE, 3rd bar (15-min). I was actually contemplating this (before seeing the R3 and R4 lines). After seeing the R3 and R4 lines though, it would just confirm the r:r wasn't there. But look how nice it bounces between them. Who needs fibs? :)

greytrader said...

Yeah, the Etrade .10 minimum to set stops is a pain sometimes. I might have to look at IB. The other thing I like with Etrade is the ability to transfer money for free to and from my bank account.

I have been seeing S3 and S4 as pretty good support and resistance when prices get there.

ferde said...

Grey,

IB's customer service SUCKS.

IMHO