welliott111
98 posts
msg #57398
- Ignore welliott111
modified |
12/2/2007 6:58:28 PM
Curmudgeon, Is there a guarantee that price "bounces" off a moving average, or keeps going? If you pull up a chart of 100 stocks, how many will bounce off m.a. and how many will not? There are no guarantees in that strategy either.
Niko, you must be a politician 'cause you are a professional mudslinger.
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curmudgeon
103 posts
msg #57401
- Ignore curmudgeon |
12/2/2007 7:22:17 PM
There is no guarantee but if I'm trend following in multiple time frames I've stacked the odds in my favor as much as can be done.
My approach is simple as well. I don't know jackshit. I let all the Wharton grads doing the fundies and when the tell tale VOLATILITY shows up I look for trend in 4 time frames pin pointing areas of hi probability weakness. FLUID means finding exhaustion or maximum excursion points within trends on ever higher time frames.
To me, scalping with the current trend makes a hell of a lot more sense than a rigid approach at the open.
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curmudgeon
103 posts
msg #57403
- Ignore curmudgeon |
12/2/2007 7:34:35 PM
To be clear though I couldn't do things the way I do without TS and Global Variable. That's my only advantage. Otherwise I would have to use a much simpler system such as TRO's.
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welliott111
98 posts
msg #57404
- Ignore welliott111 |
12/2/2007 8:05:03 PM
"To me, scalping with the current trend makes a hell of a lot more sense than a rigid approach at the open"
Using the MTC or PROFIT CHECKER filter there are 29 stocks that have gone long AT LEAST .50 or more 80 times in last 100 days . That sounds like a helluva "current trend" to me. 80% or better.
1,000 shares x .50=$500, 8 wins x $500 minus 2 losses x $500= $3000 on average every 10 days. If simple makes 6 g's a month, call me simple!!
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TheRumpledOne
6,411 posts
msg #57406
- Ignore TheRumpledOne |
12/2/2007 8:23:56 PM
"Do you wait for it to retrace below the open and hope to get in when it crosses back above the open? What happens when it stays above the open but ure no longer in the trade? What do you consider as the next "buy zone" then?"
No hoping involved.
If I am no longer in the trade, then I wait. If no more trades today, there will be one the next trading session.
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TheRumpledOne
6,411 posts
msg #57407
- Ignore TheRumpledOne |
12/2/2007 8:25:13 PM
"Like I said, you would be wise to "walk the talk" by showing us some live examples of ure actual trades. Personally, I'm of the opinion that buying the open (or buy zone as you call it) simply doesn't work. Well, it might work for the first scalp trade of 10-cents. BUT THEN WHAT?? "
If you want live examples, then come to my www.paltalk.com trading room the TWO PERCENT CLUB. I can make the calls live.
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nikoschopen
2,824 posts
msg #57408
- Ignore nikoschopen |
12/2/2007 8:25:28 PM
Niko, you must be a politician 'cause you are a professional mudslinger.
I'm sorry but ure completely missing the point. I have no need to sling mud at TRO. Even if we disagree on certain points, I respect him as a fellow trader am I'm certain that's how he feels about me. Be that as it may, I see no harm in engaging in healthy debates. I certainly see many unanswered questions within TRO's posts that need to be addressed. If that's what you call "mudslinging", then so be it.
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nikoschopen
2,824 posts
msg #57410
- Ignore nikoschopen |
12/2/2007 8:30:06 PM
If you want live examples, then come to my www.paltalk.com trading room the TWO PERCENT CLUB. I can make the calls live.
Thanks for the invite, but as ure already aware, I did make the visit to ure chat room in the past. Why not just make ure calls public by posting them live here at StockFetcher instead? I know that you don't trade that much so this shouldn't be too cumbersome for you. Plus, this way we can all benefit from ure insight.
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curmudgeon
103 posts
msg #57415
- Ignore curmudgeon |
12/2/2007 9:07:26 PM
"29 stocks that have gone long AT LEAST .50 or more 80 times in last 100 days "
The point is, as it has already been pointed out, that buying the open when price crosses a line isn't a guarantee that the price will hit the high on that particular excursion above the line. Yes, TRO says dont be greedy and just take .10 cent trades. Nothing wrong with that.
What I'm saying, all I'm saying really, is that if you have the means it makes more sense to wait for the entry at some sort of reversal and ride the tide from there. To float with the price (moving averages are the PRICE SMOOTHED).
If I can take the Weekly, Daily, 78, 13, 3 and even Tick based charts and trade when they all line up in a predetermined way then I'd say I did everything humanly possible to stack the odds in my favor.
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nikoschopen
2,824 posts
msg #57418
- Ignore nikoschopen |
12/2/2007 9:13:08 PM
What curmudgeon sez is really what I believe to be the fundamental principle that any trader should espouse. It's nothing other than comparing risk to reward and taking the trades with the lowest possible risk that ensures the maximum reward.
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