Feb 5, 2008

ZOLT - Short

Another late post - sorry - but I crashed after my ZOLT trade. I entered shorted off a break of the very weak 12:15 candle (marabuzo). Spread started acting funny which worried me but I stuck with it. I exited during the 2:15 bar because a) I was happy with the profit and b) it's hard to trade with your eyes half shut. Also, $33.15 was a strong daily pivot area and I didn't want to risk a hard bounce there.



13 comments:

TraderA said...

nice work, i added your blog to my favorites.

I took it on the 4th bar hangin' man break which was a little riskier and my target was the or low. the rest of the movement i guess was because of mr market . the spread was a little scary indeed

OONR7 said...

tradera: thanks... nice early entry on your part. There was also a good evening star pattern that formed two bars prior to my entry that I missed.

greytrader said...

S3 and S4 back on your charts ? :-)

greytrader said...

OO,

I have been trying out the TWS demo while my fund transfer is pending. Which features do you use ? I could not find a way to link my watch list to time and sales or a chart so that they change automatically when going through the list. Looks like I will be using the order entry from the quote page directly. Still will be using QT for charts. I like the way you can automatically set stops with a quick key with your initial order.

The fact that they do not use short and cover just buy and sell could be a little confusing. Easier to enter the wrong order.

anarco said...

I am curious to know in which scanning utility did ZOLT turned out.
Thanks,
anarco

OONR7 said...

gt: Is the linking question related to TWS?? Because I don't use the TWS charts. I'm just going to assume you know how to link the symbols in QT. If not, just let me know.
Here are the columns I use: symbol, shortable, position/oca group, last price, ask price, bid price, avg price, pnl, change, ask size, bid size, last size.
You can also place trades directly in QT, but depending on how you have your screen set up, it may not be the most useful.
Yeah, I totally agree about the buy/sell being confusing at first. Well, it still gets me. Just last week I placed the wrong order. I need to pay more attention.

anarco: I most likely got it from the briefing.com gapper list on Jamie's site or my prophet.net scan.

greytrader said...

Yeah, linking in TWS. I would like to use their Time and Sales and possibly their LII. I know you do not use them, just wondering if you knew how to link windows.

Also, do you use their browser version or the local version on your PC ?

Finally, I will give IB a try ! :-)
Thanks again.

greytrader said...

OO,

What about your order entry column ?
This is saving me time. Thanks.

OONR7 said...

gt: I use the local version, but I really don't think either saves much time. I did use the web based platform before and it's the same amount of steps to log on with the same process. As for order entry column... not sure what you mean. I just click on buy or sell and a stop-limit order automatically drops down in a new row.

greytrader said...

In the trading window layout, there is a Market Data Column and an Order Column: Qty, Action, Type, Lmt Price etc... It is the columns for an order entry row.

OONR7 said...

gt: I see... this is what I have:
symbol, trailing key, oca group, time in force, type, lmt. price, aux. price, action, quantity, transmit, status, cancel, destination (these appear under the market data columns)

OONR7 said...

oh... to your question before about R4 and S4, no I just forgot to remove them from that chartview.

greytrader said...

Thanks OO
Lots of config options, trying to remove everything that is not necessary.