Hi. I was looking at the watchlist today and SLG triggered or
alerted I should say.
Now whilst price seems to be breaking out upwards, volume is low
at 84% of what it should be for this much time into the days
trading (I think your "rough guideline" was to look for situations
with 150% of av daily vol)
Can you advise how you play these instances and should the alert
be only if volume is also confirming price breakout or do you wish
to focus only on price?
remember what I said last night, the price and volume data is
delayed to the watch list. We want to get real time in the
future, right now real time data feed will cost me $700 a month for
the watchlist, so I'm waiting until I'm sure all the bugs are
worked out before I subscribe to real time data.
But back to your question: right now, alerts go off early
before the breakpoint, I do this because the alert is to get
your attention. For example, if stock ABC has a breakpoint at
$10, I'll generally set the audio alert to go off at $9.90, 10
cents before the breakpoint. That way, you have time to look
at it and decide if you want to take it or not.
and regrading your question about volume. If volume is
light such on SLG, and you don't like it, then pass on it, it's
that simple. we have so much on there already, don't force
trades.
last night I said, don't try to do all the trade ideas, there
are too many of them. do what you can handle and manage; if
you can only effectively manage 2 - 3 of them at a time, then only
do that many and ignore the other ones.
I think that would really be instructive. Would you be
showing how you or someone else might have traded one or two on the
watchlist, including taking partial profits, and exits. I'd
really like that.
In a way, getting in is the easiest part of a trade; managing it
is the challenge. When are you considering having this class,
and would it be recorded in addition.
winter39 - yes we'll try to do that. However make sure to
look at the trades, we add dated comments, for example HNT is a
great example, you can see all the dated comments and progression
of the trade
Steve, just a thought since we are in a busy holiday period for
the rest of this month. Maybe wait until after the first of
the year for the weekend class?
Just dont do it the weekend of December as I am on the beach in
Jamaica, LOL.
Posted by vnathwani on 3rd of Dec 2009 at 11:33 am
I am sure it will be recorded anyway, more than one will be done
as Steve says and the other 999 members of BPT will most likely be
monitoring the markets to a greater or lesser degree
Title: Watchlist Matt Hi. I was looking
Posted by vnathwani on 3rd of Dec 2009 at 10:53 am
Matt
Hi. I was looking at the watchlist today and SLG triggered or alerted I should say.
Now whilst price seems to be breaking out upwards, volume is low at 84% of what it should be for this much time into the days trading (I think your "rough guideline" was to look for situations with 150% of av daily vol)
Can you advise how you play these instances and should the alert be only if volume is also confirming price breakout or do you wish to focus only on price?
remember what I said last
Posted by matt on 3rd of Dec 2009 at 11:39 am
remember what I said last night, the price and volume data is delayed to the watch list. We want to get real time in the future, right now real time data feed will cost me $700 a month for the watchlist, so I'm waiting until I'm sure all the bugs are worked out before I subscribe to real time data.
But back to your question: right now, alerts go off early before the breakpoint, I do this because the alert is to get your attention. For example, if stock ABC has a breakpoint at $10, I'll generally set the audio alert to go off at $9.90, 10 cents before the breakpoint. That way, you have time to look at it and decide if you want to take it or not.
and regrading your question about volume. If volume is light such on SLG, and you don't like it, then pass on it, it's that simple. we have so much on there already, don't force trades.
last night I said, don't try to do all the trade ideas, there are too many of them. do what you can handle and manage; if you can only effectively manage 2 - 3 of them at a time, then only do that many and ignore the other ones.
thanks for getting back to
Posted by vnathwani on 3rd of Dec 2009 at 11:42 am
thanks for getting back to me. This makes sense.
We are planning to do
Posted by steve on 3rd of Dec 2009 at 11:00 am
We are planning to do a weekend class to discuss this in further detail.
But again trade according to your objectives and risk tolerance.
weekend class
Posted by winter39 on 3rd of Dec 2009 at 11:30 am
I think that would really be instructive. Would you be showing how you or someone else might have traded one or two on the watchlist, including taking partial profits, and exits. I'd really like that.
In a way, getting in is the easiest part of a trade; managing it is the challenge. When are you considering having this class, and would it be recorded in addition.
Thanks Steve and Matt.
winter39 - yes we'll try
Posted by matt on 3rd of Dec 2009 at 11:44 am
winter39 - yes we'll try to do that. However make sure to look at the trades, we add dated comments, for example HNT is a great example, you can see all the dated comments and progression of the trade
http://breakpointtrades.com/stockwatch/stock_info.php?id=6481
Steve, just a thought since
Posted by stevedfw on 3rd of Dec 2009 at 11:07 am
Steve, just a thought since we are in a busy holiday period for the rest of this month. Maybe wait until after the first of the year for the weekend class?
Just dont do it the weekend of December as I am on the beach in Jamaica, LOL.
I am sure it will
Posted by vnathwani on 3rd of Dec 2009 at 11:33 am
I am sure it will be recorded anyway, more than one will be done as Steve says and the other 999 members of BPT will most likely be monitoring the markets to a greater or lesser degree
OK - but we will
Posted by steve on 3rd of Dec 2009 at 11:20 am
OK - but we will gladly do more than one such class since we certainly know that some will miss certain dates.