Nothing worked
Shorted CPO and went long MVL... neither worked. Pretty boring day overall. There was little movement in a lot of the stocks in my watchlist.
Hope you all did well.
Nov 5, 2007
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11 comments:
Went long MVL too, break of 8th bar, scratched break even.
I was asked to test trade-ideas for Etrade :-) I guess they are looking to include some kind of scanning tool to their platform. I used 2 TI windows this morning, one Gap up and one Gap down. At 9:45, I did history scan sorted by relative volume. It seems I got all the gappers and more.
TI is embedded into QuoteTracker and you can have your alerts go directly into your QuoTracker list. However, I have a maximum of 80 symbols and my lists were more than that. Also my money.net backfill has trouble keeping up if I have a list that long.
I ended up scanning candidates one by one and making my list manually. If you can have 100+ symbols in QuoteTracker, the feature of automatically adding alerts to your QuoteTracker list could be pretty cool. The other thing I might do is to restrict my criterias to bring down my list to 60 or so.
Have you tried TI for your list yet ? I will definitely put more thought and work into it.
gt: I'm into my second month with TI and I think it will be my last. I don't need it as a scanner and the built in alerts (nr7, bearish engulfing, etc..) I can easily spot. I know it a good product, but I just don't see it giving me more of an edge. I'm still workin' with it too... we'll see.
Shorted DPTR
I give up MVL for CAH, but exit to quickly.
DPTR: entered candle 4, exited candle 10 (15 min.)- my exit was dictated by conflicting schedule - I would have liked to have held on until it broke OR low, at least.
I was watching MAT and almost got in at Candle 3 but chose DPTR instead at Candle 4.
tom t: did you wait for a break of the 4th bar low? That was a nice hanging-manish candle.
jerry: great catch with CAH. That was on my short list and there was a great entry on the 5-min chart (perfect shooting star, 11:20 candle) but it was above the ORH and I let it go.
oonr7 - my entries are not as well-executed and matched to particular signals as yours are - I have not become that disciplined - I was watching price retest the 16 dollar range and I could tell by price action that it would not hold above 16 so I got in near the top of candle 4 and rode it down - got really anxious with candle 5 touching 16.03 - about ready to take a loss when it finally dove down below 16, for good.
greytrader,
i set up getting TI with Scotrtade elite, but ill be working for most of this month. i noted some decent PBs today - these generally set up some nice "X - B&B" plays... i think WM was playable. im going to write my own scans over teh holidays. i think there is a group called scanwizards that can help write scans.
qqqball,
It is relatively easy to write your own scans. What is PBs ? P for Premarket ?
I would not pay for TI to use it as a gap scanner but if my broker offers it for free...
oo,
What was your entry, exit and time frame for MVL ?
gt: 5-min chart, 11:45 candle. I actually didn't like the way the candle ended with the upper tail, but then price shot up on the next bar which made me believe price was about to take off. I proceed with my stop-limit order and that entry proved to be just a head fake. My stop was right below my entry bar.
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