Sunday, February 21, 2010
Never Kick Yourself for Making a Profit
Here's a look at a chart for Ford. This chart is what I call the Wilder29 chart style. The moving averages are the Wilders Smoothing averages set at 29 day on the high(green) and low(red). The Trend Period in orange is set at (3,29) and the ProjectionOscillator is also set at 29. Those are all overlaid on the price chart. Below that is Volume and the RSIWilder set at 29.
I originally bought 1000 shares @ $2.39/share. Sold half of my holding when the RSI hit overbought 70 and a spinning top candle was made. I held the other 500 shares and decided to let them hopefully run a bit more. After the correction in April the upward trend continued. Then, on May 1st, we had a Dark Cloud Cover candle pattern. May 5th I sold the other 500 shares and was out of the Ford Trade. Now I've got to kick myself, after the sideways consolidation that ended in July the stock made two more runs and hit a high of $12.14/share. What I thought was a deadcat bounce in this stock turned out to be much more. I fell asleep at the wheel and missed both of the breakouts because I was so busy that I failed to set breakout alerts! OH WELL, trades are like trains, another will come along soon.
Friday, February 19, 2010
RedDirt Watchlist
I used the Finviz screener to develop a new watch list. This list contains the combination of several scans that meet certain criteria. I won't tell you how I came up with this list. It is what it says it is. A watch list. These stocks made it through certain fundamental, technical and volume scans. I'll elaborate more each Friday evening.
Here's a look at one of the charts:
Tuesday, February 9, 2010
I'm going home it's fixin' to Snow
A couple of trades and I'm out of here! By the looks of my chart, most traders said "14 points in the e-mini" is enough! I'm going to beat this storm home. The rest of the day was spent churning sideways.The chart you're looking at is my 1-minute set up for trading the e-mini. Here are the rules: 1)Price above the top moving average be long. Trailing stop loss at or near the bottom moving average. 2)Price below the bottom moving average be short. Trailing stop at or near the top moving average.
Sunday, February 7, 2010
Intraday Chart Setup
Here are a couple of snapshots of my intraday chart setup for the E-mini.Intraday charts for the E-mini S&P are set that each candle is 512 ticks. Depending on market participation candles can vary in time from 15 seconds to a few minutes. The moving averages are set to 34 ema hi, close and low to create a trading band. Stochastics are set at 20/20 and are used to scalp a few points if the urge hits me. The StochRSI is used here as a trend strength indicator. The bottom indicator (Williams %R) helps with entry when entering a trade during a trending market. The arrows are there for price close crossovers of the center 34 ema. Other things that I keep an eye on are support and resistance levels along with buy and sell fractals. The bottom snapshot shows a zoom in of the center highlighted section of the chart from above.
Be sure to check out the Google Custom Search that I set up on the sidebar. It should return matches that are trading related to the search keyword that you type in. Thanks for stopping by!
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