Discretionary Trading Method-----Outliers Discussion Thread

[BSD]

Is this 'analysis' only valid for daily or hourly drawings?

Or does it apply to yearly charts as well?

 

[tech/a]

Trade it as it comes.

 

[Bobby]

Greetings Tech,

As you said if the close is .10'5 cents , the EOD traders should push the opening tuesday, so guess you will be watching the opening with live tick, ready to sell at market at the first sign of weakness ?

Just another question, why 250000 , thats a lot of $bucks at average .097cents.

Bob.

 

[tech/a]

I liked it.
Tommorow maybe different though.
Stocks are like old girlfriends.

Ill be looking for a big gap.
An open of say 12-12.5 would see me sell at open.
Ill hold if 11-11.5 but sell if trading in 10.5.

Will see.

 

[Bobby]

I liked it.
Tommorow maybe different though.
Stocks are like old girlfriends.


Will see.

This may be just a one night stand then :
Tomorrow will tell.

Take care.
Bob.

 

[ezyTrader]

Looks like your assessment of a shark/oops bar is coming to fruition, tech/a.

 

[tech/a]

Looks like your assessment of a shark/oops bar is coming to fruition, tech/a.

Yep.
Out at 10.5 Think there will be some buying opportunity later.

If your trading these you just have to know it.
Regularly rips the wallet from your pocket.

 

[CanOz]

Gave your method a try on paper this morning. Picked up 500,000 IMP at .022 after they came up on the most actives list. I got to work late but i think i could have got onto them @ .021 if i was earlier. Put a stop at .020. Will see how they trade today and tomorrow. No announcement yet either so if they close at this rate there might be a speeding ticket.

Would you have picked this one up T/A?


Cheers,

 

[tech/a]

No I didnt.

Many I let go as I cant be on them all.
Often I will see A couple and take the one I consider to be the faster mover OR that which has less upside resistance.
Sometimes I get it right sometimes wrong

 

[CanOz]

Actually picked up some ACB doing the same thing. Theres no depth either, not that it means much.

I just use the market activity on Power Etrade to pick them up.

 

[CanOz]

So much for that, got stopped out!

Try another one tomorrow.

 

[nizar]

I just use the market activity on Power Etrade to pick them up.

seems like a handy tool to see wats running. will have to set up an account soon.

 

[CanOz]

Because its live, you can see straight away when volume or price takes off. Also you can list by sector too, the resource sector is the most active today but theres opportunity else where. This is addicting.

Tech/A - i think i better re read the thread to see how you manage the trades better.

I think my stop was too tight.

Cheers,

 

[tech/a]

BSD.
Sorry just saw your post.
The analysis is purely daily,its a capitulation of buyers.

The resultant bar is generally a pivot point reversal and in ALL timeframes is again genrally seen as a temporary (And immediate) change in trend.
So the analysis as you can see is prior to the event and pretty accurate while the resultant price action displayed by the bar is after the event and a pointer toward future price action.
I expect the old high of this stock AUZ to be tested soon.Ill be trading something else.

Canaussieuck.
You really have to be very quick.On and off.
Have a look at my comments on Stockmans Thread in this section.

I used to think trading this way was impossible but discovered that it can be quite profitable.There are many small wins many small losses enough great wins to make good $$$s and heaps of frustration.Your discipline MUST be 110% or youll die quickly--- one slip up and 5 trades profit can be gobbled up, or a good profit can reverse while your wishing it would hold or reverse positive again.


Not for the majority and Im in the Majority!
A Bugger of a way to trade if you ask me.
Why do/did I do it? +75% in 2 mths.
Ive had enough for this stint.

 

[CanOz]

I think i set the stop too tight, it came back by the end of the day. Can't wait to see how it opens. Took a very small loss, plus brkg. Still have my paper trade to watch too. I think i'll paper trade for a while and bed down a system.

I really don't have the time or the timing to be in a position to do this every day....but its opened up a world of day trading i've never tried before. Looking at several daily charts today, there were many entry points available.....i think i'll save some capital for these opportunities.

In the meantime i think i might put some money in Nick's system portfolio. Something different, some more lessons to be learned.

Good luck, and great thread T/A.

Cheers,

 

[MichaelD]

A Bugger of a way to trade if you ask me.

I can understand this very well, having spent a fair chunk of last week tape-watching and turning into a very grumpy person. It's definitely the thin edge of the wedge psychologically trading this way. (And it's reminded me why I made a rule to only design EOD systems.)

I must say, however, that I have managed to come up with a major improvement to my short term EOD system exit courtesy of this thread, for which I am very grateful - 50% win/loss and a very nice smooth equity curve if it keeps trading for real the way it backtested/is trading so far, so actually quite pleasant to trade.

 

[ezyTrader]

I must say, however, that I have managed to come up with a major improvement to my short term EOD system exit courtesy of this thread, for which I am very grateful - 50% win/loss and a very nice smooth equity curve if it keeps trading for real the way it backtested/is trading so far, so actually quite pleasant to trade.

Michael, would you mind sharing some of your enlightenments? I do find this way of trading fairly taxing as well - being glued to the screen.

tech/a,
at the moment, AUZ background market action seems to be brewing again. Any thoughts?
PS: Wished I had gotten into that sensational rally, now. Would have had 16-20% for two days' work. Which is decent for me with me small capital - not asking for much.

 

[ezyTrader]

Another to watch - GDN, which had a sensational run yesterday. More activity brewing.

 

[tech/a]

AUZ I have no interest its going to do little for a while may test the last high.

GDN not on the radar.

RPT interesting.
Busy today so wont be around much.

 

[tech/a]

DYL.