JoeGrossinger
165 posts
msg #29691
- Ignore JoeGrossinger |
11/6/2003 11:17:44 AM
I do have a clue Avery. You yourself bragged about trading one stock 10 times (alwasy making money at it too) in one day. That does not allow more than a 2 minute time frame.
What's the average length of time you hold a stock?
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ccdanson
9 posts
msg #29699
- Ignore ccdanson |
11/6/2003 1:47:19 PM
getting hot down there again
i knew it wouldnt last long
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JoeGrossinger
165 posts
msg #29700
- Ignore JoeGrossinger |
11/6/2003 2:24:24 PM
ccdanson, why don't you post something constructive instead of this stuff?
Nobody needs your pointless remarks.
Avery is a short term trader. He has posted that innumerable times and as such I posted that he has a 2 minute time frame. The 2 minute chart has to be his main trading tool since that is what he goes after.
He has regaled us many times with how quick he trades. No thinking, no study, just reaction. That requires an extremely short duration type fixation.
He wrote it, not I. So I'm at a loss as to why he should take offense at my remarks.
In none of my posts have I said anything derogatory regarding this practice. If it makes money its makes money. I use it myself on occasion.
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ccdanson
9 posts
msg #29712
- Ignore ccdanson |
11/6/2003 9:12:37 PM
Well Joe, I consider your bickering to be pointless, which is what I was pointing out.
However, since you asked so nicely, here is a sure fire way to know when to sell after a decent run or at least to watch for a pullback and a chance to add to your position.
The timeframe is a week or more. Use six month chart.
Display the following indicators. I think these are default values.
Slow stochastic(15,3)
StochRSI(14,14)
MACD(8,26,9)
When StochRSI hits a value of 1 and you get a Slow stochastic fastline cross below the slowline, the stock should pullback. The exception would be if the MACD fastline is rising at around a 35 to 45 degree angle or more you can wait until the MACD fastline begins to roll over (not crossover). I guess if I had to put a number on it, I would say if the MACD fastline dropped to a 30 degree angle, I would sell. That keeps me from getting alot of headfakes.
The MACD becomes the sell signal only if thats what kept you in the stock, otherwise I use a Slow stochastics cross. This works best with stocks that are not too choppy.
The reverse of this can signal a buy if the Slow stochastics has dropped below around 25.
Thats it. This works. I use it all the time.
Oh, by the way, I wrote a filter for this to pick out shorts, it works a little ,but when it is just a pullback and not a selloff it costs you money, instead of just locking in profits as described above.
*this is not ccdanson's trading partner*
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EWZuber
1,373 posts
msg #29713
- Ignore EWZuber |
11/6/2003 9:21:33 PM
Primary indicator I use is trendlines to find exit points then stochastics (5,3) to confirm. Works great for me.
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TheRumpledOne
6,411 posts
msg #29714
- Ignore TheRumpledOne |
11/6/2003 11:13:12 PM
"JoeGrossinger 11/6/2003 11:17:44 AM
I do have a clue Avery. You yourself bragged about trading one stock 10 times (alwasy making money at it too) in one day. That does not allow more than a 2 minute time frame.
What's the average length of time you hold a stock?"
No, Joe G., you do NOT have a clue! 10 times 2 minutes is 20 minutes. Trading day is much longer than 20 minutes. So it does allow more than a 2 minute time frame.
I did not "brag". I stated what I did. I have the confirmations. They are facts. Calling it "bragging" is just taking a cheap shot. If you don't know that, then you don't have a clue. You just attack the messenger. Cut it out, Joe G. SF warned us.
Fact: I held the stock longer than 2 minutes.
You just don't know how to play nice, Joe G. I guess you didn't learn that in kindergarten.
I don't know or care about how long I hold a stock, that's not the point. The point is to make money. That's what I did and I can prove it.
CASE CLOSED.
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mhashe
13 posts
msg #29719
- Ignore mhashe |
11/7/2003 4:52:09 AM
Hey Joe
I don't post much. But I do follow with interest what you post.
I think DCUT right about to spring. Need to break that 0.13/0.14 Resistance. Clear sailing to 0.25. As you said. Minimal downside.
If you got commonsense, you don't need too many fancy charting features.
Keep on posting.
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JoeGrossinger
165 posts
msg #29720
- Ignore JoeGrossinger |
11/7/2003 9:05:47 AM
Whatever Avery. How about you stay out of my threads and I stay out of yours and we never refer to each other again?
That would just please me to no end.
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JoeGrossinger
165 posts
msg #29721
- Ignore JoeGrossinger |
11/7/2003 9:07:08 AM
mhashe, yeah, I'm with you. Stick to the major chart patterns and major indicators. Makes for much more accurate trading.
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JoeGrossinger
165 posts
msg #29722
- Ignore JoeGrossinger |
11/7/2003 9:18:49 AM
ccdanson, I suppose your bickering comments are excluded?
Funny how it always works that way.
Your exit indicator is a book. I prefer the simple stuff.
Double tops
or
RSI(5) and RSI(2) above 80
or
a 10%+ drop
or
MACD crosses to the sell side
or
I get tired of a stock and look for greener pastures.
I have never found stochastics to be all that accurate. Way too many failures.
I much prefer the simpler stuff, it usually works for the best.
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