Hey, Matt, Dodger etc

    I'm finding too that without the experience of a clearly defined style, which seems to be the hardest part to learn,  it is quite difficult to know what to filter out in the blog, or at least to discipline yourself to do so, although it is clear from sitting in on the blog that that is a necessity, or else I'm wasting my whole day sitting there with my head reeling, tempted to enter on all the short term signals on all sorts of stocks, unclear which are which, falling for my worst habits of taking on more than I'm capable of, and not fully equipped on the follow through. What is obvious to a newcomer, though somewhat understandable, is that there is a fairly wide gulf generally between the blog and the evening updates.

    I'm starting to think of developing my own hard & fast rules, but thinking that a good place to start is sticking to 2-3 indices and a triple timeframe daily-hrly-15m, and maybe drilling down to 3m if I'm around and forgetting about all the individual stock stuff till I can succesfully nail that. Not that I haven't thought that through before and failed, falling for overtrading and lack of focus and organization. I've tried so many different approaches with less than stellar success. I've been doing a good deal of this for a few years and I'm not stupid but I still feel like a beginner.

    Do you you agree this this kind of focus before being able to range around is essential to learning this properly? I feel like I'm in need of reform from 50 positions on many timeframes to a maximum of 5 fully monitored, scaled in & out, and rule-bound.

    Like many I suspect, I want to be a swing trader only, checking in a few times a day maybe with a handful of alarms running. Does this sound like a good way to you? I know it's not your job to help people get their system straight, but I suspect this is the issue with may others like me, so succinct advice on a good way in eg stockcharts? QT? real time? 3 monitors setup  might help you keep  & better satisfy many of your clients.

    Also though I appreciate your wider perspective and dedication already, maybe you could consider very specifically tailoring certain blog posts (perhaps a different colour?) or one of your guys each day to the swingers eg timely posts on the week's top 3 indexes on 15 and 60m timeframes, with warnings/entries on all timeframes down to 3m, eg I was thinking of following only SPY, GDX and USO right now, and maybe a few days from now that selection could change.

    This along perhaps with exact records of watch list entries & exits (which I'm finding a little unclear whether they ever got entered) say to a  maximum of 2 on top of the indexes. Maybe even an initial target and stop loss for the indices based on the entry time frame.

     I know you guys don't want to be burdened in your own trading overly, but I think if the majority of members are in this workaday swingers camp, it may be worth it to you to focus even more effort in this direction, so they can sign in at the open and close & random times of the day and get a clear picture from the blog what is pertinent to them in this simpler style and how the picture from the evening update appears to be playing out, (opinion only of course, but that's what we're after!)  and decide for themselves if they're still in time to carry it out.

    Together I think even though it sounds like handholding, these moves would make the blog less dizzying and a better learning experience, until it could be digested whole. But maybe you have a better simple system to suggest that is profitable and educational at the same time.

    I offer these ideas/feedback because I think you're already doing a great job and are clearly committed do doing the best you can, and seem to be in a positon to pull such a thing off without too much drama. And I think the results could be awesome.

    Cheers and good luck

    Nick

     

    Crude Oil

    Posted by dodgerdog on 18th of Jul 2008 at 07:59 am

    Oil is technically broken - unless some big geopolitical event transpires I would use rallies to sell crude oil and look to other areas for the next several weeks at least.  Many people became complacent here and thus got trapped and will be looking to sell on any rallies.  Most oil stocks are now oversold but truthfully look awful on the charts suggesting lower prices over time.

    Watch for a possible backtest of the broken uptrend line which has a good chance of occurring before further selling unfolds.

    GS came out and reiterated

    Posted by dylan398 on 18th of Jul 2008 at 10:03 am

    GS came out and reiterated oil to 150.......shame on them....couldn't even let oil break for a few days..greedy bastages

    Oil at 150

    Posted by wondernut98 on 18th of Jul 2008 at 12:24 pm

    If the talks with Iran go well over the week end it will be oil at 100.  I think GS has big positions on the oil futures and needs to get the price back up.

    just listening to an oil

    Posted by Michael on 18th of Jul 2008 at 12:32 pm

    just listening to an oil floor trader saying oil is deeply oversold for a variety of reasons, - Korea, technically, he can see a short-covering rally next week.  He doesn't see it going lower than around 122 . . . . we'll see.

    Hum .. Interesting call by

    Posted by cspirit on 18th of Jul 2008 at 10:09 am

    Hum .. Interesting call by GS.  I just went long DTO at 10AM when Oil backtested near $132.   First small entry postion.  I guess will see what happens

    Matt/Dodger - Thoughts on DTO entry point at 132 since trendline and 50EMA was lost yesterday?  I waited for backtest back to 132 for my entry.

    Chris

    ....then again, if it is

    Posted by kreem on 18th of Jul 2008 at 02:25 am

    ....then again, if it is too much to take on, regarding this first post at least, I'd understand if you consider it my responsibity to sort that out myself over time.

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!