Blue Chip Bulldog - Latest Comments in Trades for 10/20/09

Re: Trades for 10/20/09

Dutch — Wed, 21 Oct 2009 16:24:21 -0000

Nice of you to say. Sorry I couldn't find the original video, I looked at the treads on youtube and from the OP on Twitter "TopHat" where I first saw it. I thought it was the one I linked until I started listening to it.

Re: Trades for 10/20/09

Dutch — Wed, 21 Oct 2009 13:28:49 -0000

That's perfect Brinkley. You caught the right direction regardless of what the S&P was doing. Just bought the prior high break out bet with a defined stop. Very nice.

It's a thing of beauty when you get it right just after the open. You got 80% of the days move before the hour was up.

Re: Trades for 10/20/09

TonyMontana — Wed, 21 Oct 2009 13:23:35 -0000

No problem,

You already sent me the log in info.

My real name is Gabriel H.

Re: Trades for 10/20/09

TonyMontana — Wed, 21 Oct 2009 13:22:02 -0000

Thanks Dutch,

I really appreciate the fact that you took the time to look for it.

Take care!

Re: Trades for 10/20/09

zstock7 — Wed, 21 Oct 2009 13:18:48 -0000

Hi Tony, I checked my email, and I don't show a Tony signing up--
Can you send me your order number?
You can use this link.
http://zstock7.com/?page_id=36

Re: Trades for 10/20/09

Dutch — Wed, 21 Oct 2009 13:13:30 -0000

Tony that wasn't the original video where he points at the chart of the S&P futures gap, I can't find it and I'm tired of looking. He mentions it in the video I linked.

Re: Trades for 10/20/09

Dutch — Wed, 21 Oct 2009 13:04:59 -0000

Here it is: http://www.youtube.com/watc...

Re: Trades for 10/20/09

moo — Wed, 21 Oct 2009 08:01:12 -0000

New Post!

Re: Trades for 10/20/09

Ashok — Wed, 21 Oct 2009 00:23:05 -0000

Sold ISRG for +14 and AAPL for +9 today.....sigh of relief on ISRG.....might look at AAPL again....

Re: Trades for 10/20/09

Brinkley — Wed, 21 Oct 2009 00:10:42 -0000

EUR/$USD getting a small bounce. Too soon to make much of it, but a potential short-term double bottom is trying to form.

http://screencast.com/t/9ZT...

Re: Trades for 10/20/09

Guest — Wed, 21 Oct 2009 00:07:44 -0000

Yes.. thank you for the recap!

Re: Trades for 10/20/09

urszula — Tue, 20 Oct 2009 23:54:44 -0000

I've posted comments about stops but not in conversation with you. (Was trying to avoid repetition.)
Slippage is one problem; you most need a stop on the ES when it's in feral mode but that's also when you're most likely to get slippage.
When papertrading the ES I noticed that there were so many times when, had I used a stop, it would not have been to my advantage, due to the way the ES moves - and the pace @ which it moves, that I decided not to employ them. It's certainly true that there are times when a stop would've saved me from an additional 2-tick loss (and sometimes much more, of course) but not often enough for me to use a stop loss routinely.
Trading without stops requires unceasing discipline; I do my best to exercise it ;-)
The ES is a special animal. Were I trading something else I might well use stops.
I've had my current platform for 8 months and have not lost the connection before. Were it to happen again I'd have to look at using stops, for sure.
When i papertraded for 5 months I ran numerous experiments. I still experiment now and then, switching to sim-trading to test something.
I'm a daytrader; if I have an open position my eyes don't leave the screen. If I were a swing-trader I would definitely use stops as I can't govern a trade when I'm asleep ;-)
*I've explained my stance really because I have a few followers who are new to trading and feel the need to be explicit and clear.

Re: Trades for 10/20/09

Brinkley — Tue, 20 Oct 2009 23:42:41 -0000

Well, I've spent more time under my desk than working at it tonight, still trying to diagnose my tech issues. However, I have promised a look at stop placement, so here you go-- but we'll have to examine them in a few stages due to my time constraints.

I went back through today's trades and have pulled up and illustrated my GMCR long scalp as an example of a successful "quick" trade with my stop placement and rationale behind it. On this one, I knew from initiation that it was going to be strictly a scalp-- meaning I knew I didn't want to hold it overnight, and I didn't trust the market enough here to give it a chance to get moody and change its mind. Stops were placed at short-term support levels, as shown. As you can also see, I opted to sell into the volatility as the stock made a nice move, rather than give it much time and room to back up and consolidate (or potentially reverse). Still, the stop would have kept the trade above break-even and out of trouble if I needed to be dealing with other trades at the time. This one worked well, with a quick gain of $1.80.

http://screencast.com/t/cyy...

I'll illustrate another example tomorrow. Let me know if this is helpful-- or how it could be more so.

Re: Trades for 10/20/09

DavidDT — Tue, 20 Oct 2009 23:20:30 -0000

Uploading new SPX video right now, will post before midnight.
Now much new, just few updates

Re: Trades for 10/20/09

DrNo — Tue, 20 Oct 2009 22:55:00 -0000

I have had many waterloos ,stalingrads, and neutron trades.Getting even usually gets you in deeper.I hear you and have been trading a lot of spy ,twm ,faz ,fas, qid,qld etc.I think that playing real stocks ,at the moment is a better path for the moment for me.That is not say that buying a 100 spy puts does not give a thrill ,but that is what got me in trouble to begin with. One day at a time ,and perhaps ,one trade.I only hope when this mirage is over i have the courage (or foolhardiness) to let em have it with both barrels.

Re: Trades for 10/20/09

TonyMontana — Tue, 20 Oct 2009 22:43:12 -0000

When did that gap occur?

The only gap I can see (using prophet.net daily chart) is from 1099.03 to 1097.56 from Oct 3/08 to Oct 6/08, which would mean that we have closed the gap as of yesterday's high.

Re: Trades for 10/20/09

jayinasia — Tue, 20 Oct 2009 22:33:20 -0000

Good Morning Folks.

Asia is looking resilient this am. As discussed the 3060 level in Shanghai is key. Right now, we are well above it and have even been green. The USD/JPY had a nice performance yesterday. It held the 21ema on the daily and bounced nicely off of it. We broke higher out of a bull flag last night and look to be retesting it this am.

Re: Trades for 10/20/09

fstrtrdr — Tue, 20 Oct 2009 21:59:36 -0000

O.K. but just so you know. I"ve already placed some major bets against you! Notice my eyes are exactly aligned w/ yours? Who looks more fierce?

Re: Trades for 10/20/09

fstrtrdr — Tue, 20 Oct 2009 21:54:30 -0000

I called the number but got someone working for a place called the White House? I don't get it.

Re: Trades for 10/20/09

facesincabs — Tue, 20 Oct 2009 20:18:55 -0000

fwiw ... I have been watching market futures and I see the odds increasing of some selling at least in the morning ... just thought that I would give people a heads up ... proceed with your own due diligence ...

if I see this situation change (which can happen when Asia opens and trades for a while) I will post again ...

Re: Trades for 10/20/09

facesincabs — Tue, 20 Oct 2009 20:12:40 -0000

smarty! (lol)

Re: Trades for 10/20/09

Dutch — Tue, 20 Oct 2009 19:28:28 -0000

Amen.
Digging out of a year long hole, then digging out of a hole after your first trade of the day is depressing to say the least.

If I had more cushion, more profits on the year, I'd give most of my trades more leeway. Couple months back I got stopped out of two real account 5,000 share TZA and FAZ trades to the f@#$&ing penny by the MM's. Two trades, back to back, to the penny loss which was the last low into the close. My bad was marketing in and allowing that entry price to dictate the stop. I was hoping for a break out and caught more coiling action and price probing.

Trading defensively sucks, but I have to do what works, if only incrementally sometimes. That's why I love the paper trading. It's real time, it mirrors my account, and it'd be exactly what I would do if not for fear of losing big money trying out my ideas.

Re: Trades for 10/20/09

Dutch — Tue, 20 Oct 2009 19:21:11 -0000

Until they stop printing money and the dollar stops being the sacrificial lamb it's probably going to continue to be status quo. That 1108.30 S&P gap from last year is so well known I don't think we get any clear top signal.

All I trade are ETF's and trying to get a winner to run during the day and time the entry just right when the downside moves are .10 spreads on top of .10 spreads and my trades are normally 100% of my cash position per 1000 share trade. It's always gut check time. I've watched FAS drop a point a minute on a few days during early morning weakness in financials, even though the trend was/is up and all that. Just brutal to trade successfully and consistently. Not to mention the always present fear of being torched for that quick point in the wrong direction and it takes at least 10 trades to finally get a runner.

Re: Trades for 10/20/09

Guest — Tue, 20 Oct 2009 19:20:43 -0000

Ahahhaha!

Re: Trades for 10/20/09

Guest — Tue, 20 Oct 2009 19:20:02 -0000

Hey... same thing happened to me except my password switched itself and I was without internet four a couple days.