Technical Trades Anyone

[BlueWolf]

Stopped on CASA. Back to Uber caution mode for me. I was tempted to go long on APO today, but didn’t. Sure enough, it went right to target. Figures. I want to short AMAT so bad, but I just don’t know what to make of this market. Everything I know about chart reading says AMAT should be headed lower, but it is stubbornly hanging on. Earnings coming up on 17th. Maybe somebody knows something.

In any event, my last attempt to share an image produce something that was unreadable. Here’s another attempt. Take a look at the NASDAQ. No wonder it’s hard to trade right now. This is a flat out mess.

https://www.dropbox.com/s/ogg7fx3q5t240pq/Photo%20May%2003%2C%206%2026%2030%20PM.jpg?dl=0

PS. If this Works and you can see the image clearly, let me know. This might be a way for me to post charts from my tablet.

[Louetta]

I can see it OK.

[billyjoe]

Yes, it works.

-----------billy

[tiedyed1]

Yes, seeing the chart clearly. Thank you!

[BlueWolf]

Check out this chart on AMAT. Sure looks like a short to me, but it just won’t die. Sometimes when all the signals point down, and a stock stubbornly hangs on, it might be time to take a contrarian position and look at it as long. I think I need some confirmation for that this case, though. For now I’m just gonna watch it.

https://www.dropbox.com/s/iijiw2ni07qio32/Photo%20May%2004%2C%206%2050%2021%20AM.jpg?dl=0

[jiesen]

Yep, clear to me. Zooming works just fine for the numbers in tiny font.

[BlueWolf]

Very strong day for a lot of stocks. Is this another headfake? Who knows, but I took a shot at MZOR long. I was prepared to short DO and AMAT, but I decided to go with the flow instead and both are running to upside. I should be sitting it out, but I like to trade and I’m a little disappointed at myself for failing to pull the trigger on APO, which would have been a nice little winner. I’m still watching CASA for another possible try and may re-enter NUVA after winning with that one previously. NVR is also still in play and looking ripe. BB is interesting for a possible day trade, but that company always makes me nervous as they have been a fountain of bad news. Some others of interest for long plays at some point: CRTO, ETSY, GTLS, LRCX (Starting to intrigue me), and NTNX (possible longer term play). I failed to pull trigger on AAXN, but c’est la vie. This market keeps trying to lure me out of my caution, and then smacks me down. What are you going to do though, you got to protect your capital.

[Louetta]

Best new thread we've had in years, methinks. Nevertheless I think the key is if Mnuchin, et alia, come back from China Sunday with a settled deal we're out of the woods and if not we're in for more of the same and methodologies, temporarily, don't much matter.

[BlueWolf]

Yes indeed, I think trade wars are weighing heavily on a lot of investor minds.

[BlueWolf]

I was looking hard at several plays this morning including OLED long and LULU short, but neither played out. Thank God I’m patient with my entries. I do want to trade now, and I’m biased long based on the latest moves in the indices. We’ll see. If anything, I will trade light, looking for just the right set ups.

[BlueWolf]

Took the quick profit on MZOR. 4% was too good to pass up for a one day trade. I’ll start looking for more setups like that one.

[BlueWolf]

Check out the attached chart. I don’t know which way the markets going to move tomorrow, but if we have a down day this sure looks like a potential short to me. I’ll be curious to see how it sets up.

https://www.dropbox.com/s/gl7yq43ewaqmmzj/Photo%20May%2007%2C%206%2055%2008%20PM.jpg?dl=0

[BlueWolf]

Here’s one, SRCL, I am watching for a possible long play today. I’d like to see it move above 64.30 first, but I like the set up. I probably wouldn’t trade a gap up unless it pulls back to fill the gap and bounces into a green bar on the 15 min chart. When I’m daytrading, or even short term swing trading, I typically use 15 and hourly charts to help me get good entries.

https://www.dropbox.com/s/hwgjsrvygmwfynx/Photo%20May%2010%2C%206%2011%2024%20AM.jpg?dl=0

I am also watching AMSF, ANF, BGS, FCX, and PVH as possible long day trade/short swing candidates. Good luck today to all traders.

[BlueWolf]

Trading heavier today than I have traded in a long time. Lots of good daytrading set ups that seem to be working. All along positions except for one short.

[BlueWolf]

I wanted to share some hard earned wisdom with you. I know a lot of people think of trading as a way to get rich quick. When I first started trading, I did too. After years of losing money, however, I learned that there’s a lot to be said for the turtle approach as opposed to the rabbit approach. That’s one of the reasons I don’t trade penny stocks.

Anyway, I wanted to show you how disciplined, slow and steady trading can generate income. Let’s say you divide your capital evenly into 20 positions. That doesn’t mean you’ll open 20 positions every day, it means that’s the maximum number of positions you can hold at any one time. Now let’s just say on an average day you have a net gain of 2% on one position. Some trades will go well and some will go badly, but say your net gain is 2% on one position. Let’s do some math here. That’s a total gain on your capital (((1.02 + 19)/20) x 100) of just .1% per day. Now if you trade just 200 days a year, that a total annual gain of (200 x .1%) 20%. That’s right, if you just gain .1% every day, you’ll beat the indices in most years, and that 20% can be much higher in trend years, as long as you trade with the trend. Even at 20% a year, a $100,000 investment turns into $275,000 in just 5 years.

As easy as this may sound on paper, it isn’t. It requires great discipline. That means you always know your risk/reward going into a trade and you always honor your stops. The single biggest reason people lose money in the market is that they enter a bad trade and then ride it out. This ties up your capital, and in the worst case, you end up riding a stock into oblivion.

Hope this little tip helps. I’m probably not going to be posting here much more, because I’m beginning to devote myself to other platforms, tasks and trading rooms. That doesn’t mean I won’t check in from time to time, but it probably will be infrequently. Before I leave, however, I am writing up a little spiel on the lessons I’ve learned about how to trade in a disciplined way. I will share this soon.

Best of luck to all in their trading.