TheRumpledOne
6,411 posts
msg #65059
- Ignore TheRumpledOne |
7/16/2008 8:36:56 PM
Look at all the filters on SF.
Thousands of them.
But what is the ENTRY TRIGGER?
What makes you decide to actually ENTER THE TRADE?
I know Muddy's WAIT FOR GREEN entry.
I know my MILK THE COW entry.
But what about the rest of you traders?
What is the criteria you use to enter the trade?
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chetron
2,817 posts
msg #65066
- Ignore chetron |
7/16/2008 9:43:46 PM
ULTIMATLY, WHETHER IT IS RED OR GREEN, IS JUST A CONSEQUENCE OF THE PRICE CROSSING A HORIZONTAL LINE, BE IT, TREND LINES, SUPPORT/ RESISTANCE, YESTERDAY'S HIGH/LOW/OPEN/CLOSE, AND TODAY'S HIGH/LOW/OPEN/CLOSE.
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miketranz
961 posts
msg #65067
- Ignore miketranz |
7/16/2008 9:51:20 PM
Avery,that's a great question.My bet is that most people who buy stocks enter a market order right before the open.I myself enter on a strong close situation,and sell into the open runup.If the stock opens below the previous days close,I'm gone.More times than not,the stock gaps open.Another method for entry for a swing trade is to buy when a stock breaks above a ma(9).This method works only in the strongest trending stocks.However in this market,whipsaws are common.You need plenty of patience for any type of swing trading nowadays.....
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bert123
53 posts
msg #65092
- Ignore bert123 |
7/17/2008 1:12:38 AM
I like to see a big down day(day 1) followed by a big white candle(day 2)then placing my limit buy on day 3 somewhere around halfway up the white candle.
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luc1grunt
622 posts
msg #65101
- Ignore luc1grunt |
7/17/2008 7:51:26 AM
In the dailies (AAPL, RIMM, GE, GOOG, etc.), knowing the stock is critical. I trade breaks of chart patterns and/or s/r lines.
Confirmation is the critical piece. Certain stocks charge the line then reverse and break to the other side fooling many. Others take 2 bars to confirm then proceed somewhat orderly to the next s/r or fib retrace. Not necessarily backtested, but over time the occurrances can be plotted and used in developing an "edge". RIMM (prior to the past 4 weeks) had over 68% success rate to the next s/r "if" it held the breakout for 2 bars. That is an edge and a high probability trade with high reward to risk.
Once these probabilities are determined and validated over time, the r/r and expectancy becomes pretty clear. Trading confidently is a muliplier in my book.
With news/fed speak etc, it gets a little trickier. If the probabilities begin to change, change with it!!!! Lower the initial shares and widen the stop a little to allow the thing to breath. If the pattern changes or lines do not hold, cut the trade.
The above does not include scaling in or out.....as I use that to advantage as well. Especially when momentum on a break is sustained through a nother s/r line.
My $.02
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miketranz
961 posts
msg #65177
- Ignore miketranz |
7/18/2008 11:46:56 AM
Avery,you have a "buy the close,sell the open filter?? That's my primary trading weapon.Can you make it clickable? Thanks,Mike.....
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TheRumpledOne
6,411 posts
msg #65259
- Ignore TheRumpledOne
modified |
7/19/2008 9:01:18 PM
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miketranz
961 posts
msg #65269
- Ignore miketranz |
7/20/2008 10:03:15 AM
Avery,thanks again for being so helpful.You're a credit to this site.Mike.......
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TheRumpledOne
6,411 posts
msg #65328
- Ignore TheRumpledOne |
7/22/2008 2:35:52 AM
You're welcome.
Glad somebody appreciates my efforts.
Some people would have preferred that I stopped creating filters and displays a long time ago.
I have been accused of BELLS & WHISTLES, WATERING DOWN, etc...
But, fortunately, I think for myself and don't listen to naysayers.
Thanks again.
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johnpaulca
12,036 posts
msg #65330
- Ignore johnpaulca |
7/22/2008 8:54:58 AM
Avery...you wash yo mouth out with soap...never for a moment thing we don't appreciates yo efforts.
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