3309 Drysdale Ct
Edwardsville, IL 62025
Thanks Matt. How do you size your trade if it's a GTC
order (i.e. When you're unsure what day it'll get filled on)?
Do use just use whatever the 9 EMA is at the time of entering
the Buy Stop Limit order as your probable initial stop, combine
with max $risk amount, and size your GTC trade size based on that?
Or do you use a constant $order size or constant #shares when
placing these GTC orders? Thx!
totally agree with oakavekid. the struggle i've been
having is in how to manage the trades once they trigger. even
after-the-fact case studies of how you managed several winning and
losing trades would be a huge help
Thx. You mostly using the 5m chart since you're
Focus on the most objective setups (for trades)
Focus on the most objective setups (for trades)
To clarify, what would be your top 3 objective setups?
- Low and High of Doji with divergence?
- Low and High of Hammer with divergence?
- Something else?
Is the AAPL system still long?
Thanks mla127--great to see some Canadian trade ideas. Will be
interesting to see whether those below the 200d can power up
.../John in Victoria BC
Thanks for the updates Matt. I definitely vote to keep the
Have you considered posting a snapshot of the system chart at
the end of each trading day (similar to what you do with the BPT MA
.../john in Victoria, BC
I currently have a stop at the LOD ($5.14). When you say
"giving it a little room", are you thinking of a lower stop, say,
Given the whippiness of the market, where would be good places
for stops if these trigger?
Thanks for the email alert Matt!
Who here is trading in a Canadian RRSP or RESP? Looking to
find out what approaches fellow Canadians are using (which broker,
which trading platform, and how to handle the ever-changing forex
.../John in Victoria, BC
I'm thinking back to the beginning of February when the market
started dropping, and a second SPY Pro entry occurred, followed by
more downside. Then I think you mentioned having a stop in
place in case things continued to drop. Previous to that
point I had always traded the SPY Pro system with no stops, just
waiting for exit signals.
Now that volatility and choppiness has appeared in the market,
I'm more conscious of protecting the downside risk but somehow
still allowing for second and third entries lower.
I'll place a safety stop under the bottom trend line and hope
that it gives it enough room.
In today's newsletter, Steve repeatedly urged us to have a stop
in place due to the ascending wedge of the SPX.
Where would be a good stop for those of us who entered the SPY
Pro this past week?
Listening to your newsletter about the recent big pops.
For fast-moving stocks like these, what type of stops do you
prefer? Market? or Limit? (thinking about the
effects of gaps and low-liquidity)
Any chance there's a version that works with TC2000?
Trying to figure out a stop for this if it goes back to
6.26 would work if you see it as a double-bottom, with a target
of 7.31 but that seems pretty wide (7%)
Or could do yesterday's mid-candle (6.55).
Or could do yesterday's low (6.49).
Or today's low (6.66).
Again, choosing initial stops (and then deciding how/when/where
to move them later on) is the part I struggle with the most.
Sounds like a great feature. Unfortunately iTrade Canada does
not appear to offer conditional orders. :-(
Thanks I just used that 10% in one day tip to book 15% gain in
MU since buying it a week ago. Normally I would've held on
and risked doing a round-trip. Thanks again!
Alerts vs Buy Stop orders for entries?
Great video on position sizing. I notice on the Trade
Ideas page that there are "Alarm Prices" that will be hit before
the desired entry price so that we can watch it more closely before
entering. Problem is, I can't see much on my tiny phone when
the Alerts trigger and certainly can't see my trend lines,
So, for those of us who aren't around throughout the
entire trading day, what's a good strategy for entering these
positions? Placing a Buy Stop (Market? Limit?) order in
the pre-market? Something else?
Similar question about entering the initial stops: Given that
(with my broker at least) we can't enter Sell Stop orders until we
have successfully filled the Buy order, how do people manage that
who aren't around throughout the entire trading day? Run
without a stop on Day 1 and then enter a Sell Stop after-hours on
the day the Buy order fills? Something else?
Appreciate any tips you can share on how to manage these entries
and stops for those of us who aren't anchored at a trading desk all
Thanks Matt. Been a member for just over a year and have
only really traded your systems, not the individual trade ideas,
because I didn't know where to put the stops so I could size the
trade. Having suggested stops added to the trade idea charts
is a *huge* help!
For the systems (Paint Dry, SPY Pro), how do we come up with an
initial $risk/share so we can size our position and what are some
strategies for moving those stops up over time?
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