cwn6161
40 posts
msg #89176
- Ignore cwn6161 |
3/5/2010 4:11:04 PM
Use the filter that TRO posted at the beginning. That will grab the stocks that have statistically followed the MTC method the past 100 days. These are the stocks you use. Before the open put 1 or 2 in your watchlist, and look at the premarket to see if they are gapped up or down. That way, you at least know which direction you'll be going first.
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stratiG
147 posts
msg #89179
- Ignore stratiG |
3/5/2010 5:18:33 PM
cwn6161
- Ignore cwn6161 3/5/2010 1:50:57 PM
stratiG
Where are you setting your scalp takes at?
I'm currently shooting for 40 cents to take profits - but I just read how you set a scalping point and then move your stop up to breakeven. That's a good idea, especially after I see myself getting stopped out twice this morning on FCX, where I could have made cash if I scalped.
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I scalp .30 - .35 cents. I found through trial and error this to work the best for ME. Good luck in your trading.
GS
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sbuck143
88 posts
msg #89185
- Ignore sbuck143 |
3/5/2010 6:25:55 PM
Pardon me while i wade through the FTG thread (just finished) and re-tackling this thread from start to finish -
1) Does the Buy Zone once set up apply all day or can it only be used for the initial moves in the morning before you go to uncharted waters?
IOW, does the theory/stats support re-entering a long position every time you enter the long zone (entered from below of course). Ditto for short.
2) Dang......it just left me. My eyes are watery from all this reading :)
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chetron
2,817 posts
msg #89186
- Ignore chetron |
3/5/2010 6:31:51 PM
you think they are watering now, just wait till you put some real money down. = )
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cwn6161
40 posts
msg #89193
- Ignore cwn6161 |
3/5/2010 10:35:10 PM
The Buy Zone is for all day. It never moves though, so if a stock fades early, you may never get another trade in.
The stats are based on a one-time event for the entire day, one for shot and one for long.
For example, if you see a stock with a 80% chance to move .5+ after moving .1, that means that out of 100 days, 80 days had that event occur, at LEAST once. Maybe more, maybe not. Stockfetcher doesn't record intraday activity.
Keep that in mind when entering - its not everytime that stock moves that you see the response, but it's very likely the move will happen once during the day.
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cwn6161
40 posts
msg #89273
- Ignore cwn6161 |
3/8/2010 2:52:12 PM
For those who have used this for some time, what are some good exit methods, to learn how a stock works while still making some profit? I have a few ideas, but I don't want to be switching back and forth between them , as I don't think thats really following a system.
1) Start by scalping .05-.1 moves. Each week, move the amount up as you get used to the stock's daily ebb and flow.
2) Be strict, and take a hard profit when the stock move .5 (this would result in 30-40 cents of profit when entering at the right buyzone)
3) Take profit at tiered levels as the stock moves. For example, if it moves 15 cents from your entry, move the stop to breakeven. If it then moves 30 cents from entry, move the exit to 15 cent profit. Like a trailing stop, but only at certain values.
4) Scale out after a certain profit level, leave the rest in to ride.
I figure those who have been at this for a bit can give some advice.
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cwn6161
40 posts
msg #89787
- Ignore cwn6161 |
3/17/2010 12:16:24 PM
Been missusing this system, so I decided to come back and re-read the thread, and go back to 100 share size.
Stopped out of AAPL on the short this morning, no chance to re-short it yet.
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stratiG
147 posts
msg #89795
- Ignore stratiG |
3/17/2010 2:34:55 PM
Did you get it? Tanking nice.
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cwn6161
40 posts
msg #89798
- Ignore cwn6161 |
3/17/2010 3:48:26 PM
I didn't. I only trade until 11 AM - can only watch the charts for so long before I actually have to do work at my day job.
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cwn6161
40 posts
msg #89830
- Ignore cwn6161 |
3/18/2010 9:46:04 AM
That chop in AAPL this morning wasn't very nice...
TRO, GS - is there a gap size you won't trade? For instance, AAPL's gap was a mere 2 cents... which seems to make things very choppy as the buyzone immediately works in both directions.
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