Posted by spytrader on 26th of Jun 2014 at 10:20 am
Usually play the SPYPro system, this is first time doing a
watchlist trade. Would like to get long SOXS for a trade, wanted to
see support bounce this am and it got away. Read the info on alarms
but still not clear: Steve discussed SOXS a couple of nights ago
but alarm popped up on my screen this am. Should I take that to
mean that now is the time to watch closely for entry vs. entry from
newsletter discussion? Do alarms usually go off 1-2 days after
newsletter discussion or do most folks get in the am after
newsletter signals? Thanks!
Spytrader...please contact me to set up a session to review your
questions. You can send me a private message and I will
reply.
SOXS was setup as a quick trade or hedge against the expected
corrective activity following the outside day reversal on Tuesday.
Do NOT TRADE without a plan and discussing with me if you are
not sure how to trade.
spytrader- the
alarms are not buy signals, we do not send those out ourselves,
they are alarms that we set ahead of time. It's the same thing as
if you took a list of stocks and set price alarms in your quote
manager. many times alarms are set just below resistance for
a long or just above support for a short so that they go off early
and 'alert' you to look at it and see if want to take the trade or
not. You then trade according to your time frame and
style.
we also like to buy support and sell resistance and for plays
like that we can't really set alarms - many ways to trade, that's
what makes a market. For example yesterday we had a bear flag
bounce that formed all day long, someone looking to take a hedge
short against long positions or an aggressive short could have
shorted yesterday near the symmetry targets which were achieved
late in the day with a tight stop. Or one may have shorted
right after the opening bell this morning when the bear flags were
broken on the 15 min chart. So as you can see, multiple ways to
play and if you are new to trading stocks it will take you
some time to figure out your style - start off slow and with small
positions. Each night spend some time writing notes and trade
ideas and a plan - keep a trading journal - basically I'm saying to
prepare some for each day - don't come in every day blindly because
then you will be like deer in the headlights - this all takes time
to master, so take it slow
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SOXS/Alarm Question
Posted by spytrader on 26th of Jun 2014 at 10:20 am
Usually play the SPYPro system, this is first time doing a watchlist trade. Would like to get long SOXS for a trade, wanted to see support bounce this am and it got away. Read the info on alarms but still not clear: Steve discussed SOXS a couple of nights ago but alarm popped up on my screen this am. Should I take that to mean that now is the time to watch closely for entry vs. entry from newsletter discussion? Do alarms usually go off 1-2 days after newsletter discussion or do most folks get in the am after newsletter signals? Thanks!
Spytrader...please contact me to set
Posted by steve on 26th of Jun 2014 at 10:43 am
Spytrader...please contact me to set up a session to review your questions. You can send me a private message and I will reply.
SOXS was setup as a quick trade or hedge against the expected corrective activity following the outside day reversal on Tuesday. Do NOT TRADE without a plan and discussing with me if you are not sure how to trade.
thanks guys, will get in touch Steve
Posted by spytrader on 26th of Jun 2014 at 10:44 am
spytrader- the alarms are not buy
Posted by matt on 26th of Jun 2014 at 10:39 am
spytrader- the alarms are not buy signals, we do not send those out ourselves, they are alarms that we set ahead of time. It's the same thing as if you took a list of stocks and set price alarms in your quote manager. many times alarms are set just below resistance for a long or just above support for a short so that they go off early and 'alert' you to look at it and see if want to take the trade or not. You then trade according to your time frame and style.
we also like to buy support and sell resistance and for plays like that we can't really set alarms - many ways to trade, that's what makes a market. For example yesterday we had a bear flag bounce that formed all day long, someone looking to take a hedge short against long positions or an aggressive short could have shorted yesterday near the symmetry targets which were achieved late in the day with a tight stop. Or one may have shorted right after the opening bell this morning when the bear flags were broken on the 15 min chart. So as you can see, multiple ways to play and if you are new to trading stocks it will take you some time to figure out your style - start off slow and with small positions. Each night spend some time writing notes and trade ideas and a plan - keep a trading journal - basically I'm saying to prepare some for each day - don't come in every day blindly because then you will be like deer in the headlights - this all takes time to master, so take it slow