Thursday's trade
Not a lot of action today. Just took one trade... CA. Went long off a break of the 11:10 bar high (:10). Things looked good but the 18.50 level just could not hold as support. Sold when price closed below the 5ema.
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13 comments:
IB scan didnot print CA, Where did you get that?
anon: it appeared in my IB scan.
this market is tough to trade..(since almost mid 2008)
i had RMBS (just like CA) but the sucker dithered for a while so i bailed out w/ some loss. And lo and behold it went up late in the day.
BSX play was a badset up. I though i would be lucky. Not.
OONR:
i have an idea. You,traderram & others can start tweeter in real time and we all can come up w/ our picks. This way we all help each other in realtime. Also since it is not a chat situation, it is not intrusive & works well.
anon: I did open up a twitter account over a year ago with that intention but never followed through. Just not sure it's something I want to commit to.
Man, what's up with all the anon comments????
It's a bit like good setups these days...anonymous.
Facts: EOD stocks >+8% 300k= 42
47% $4-10 33% 10-20 12% >20
29% naz 61% ny
12% open gap >1% !!!!
47%>10%(gain) $10-20
23% gap >1% in $10-20 range
52% adv>1m
31%(of 42) from Trade Ideas Most%volitility list
64% from TI w/adv1m
My first thought: $10-20, group rotation, beta TI WL , adv>1m
...to keep it simple
Which back fill are you using these days ? CA would not back fill with TD... Had to use IB.
Went long TRA on a break of the 10:40 10 minute candle. Sold it way to early 3 bars later. Target should have been the R3 pivot point. Also shorted SPTN on a break below the 10:20 10 minute bar low and placed my stop a tick above the 10:10 bar high. Covered went it bounced off of S2 and broke the 8SMA at 12:30.
Paul
did you see tndm today? it was printing nr7's on the 5,10,15. i can't believe i missed something so freakin' easy. i got scared when i saw a spread of .10 or so, and then the spread tightened up but i am new to the game and couldn't pull the trigger. i got spooked! i didn't trade CA because the risk/reward didn't seem to be good enough for me. where was it going, +.30 or so to 18.55? where was your stop? i usually risk a .25 so it wouldn't have worked for me.
Good trading!
I am posting so that you are not talking to 3 anonymous people :)
traderam: lol, just found it odd to have so many anon posts.
bl: thanks for the facts, Jack.
gt: yeah, I had to use IB to backfill.
paul: nice catch with TRA.
fozz: TNDM was on my WL but I removed once it started trading against the gap. Yes, CA wasn't a huge R maker but my risk was .09 based on the high/low of my entry candle and the fib. ext. was 18.71 (PDL or ORH of the :30). So, I was looking at possibly making .37 or about 4R. With .09 entry spread, I could afford to buy more shares with my same usual risk.
tl: thanks for breaking things up :)
I had many down gaps that faded, MBI for one. Bullish sign?
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