Posted by DigiNomad on 23rd of Apr 2024 at 01:32 pm
SPX Breadth Thrust? - Another nightly newsletter / video I watch
called out a potential breadth thrust incoming. A thrust like the
one we got to start the October rally, but way more rare because it
happened so close to the top whereas they typically occur close to
major bottoms. Are you guys seeing the same thing?
Again, not triggered yet, it just looked like a possibility
in the near term....according to the guy making the presentation.
Would be a strange place for it, but it also wouldn't
surprise me because the Gov is ALL IN on spending and is not going
to let up until after the election...I personally don't think they
can let up at this point until something breaks - they've gone past
the point of no return.
Certainly a possibility - others look for volume percentage
confirmation (The IBD method). Need a minimum of 80% UVOL -
also note the NYSE and DJI are testing their respective 20/21
EMAs
Posted by DigiNomad on 23rd of Apr 2024 at 01:52 pm
Here's the current reading from BPT saved chart (we're pretty
close considering the rule calls for 9 days or less from oversold
to overbought...and we're on day 2):
LPG - Chart Link- fluffy - the trigger here was
one penny above yesterday's high - once triggered an immediate stop
would be placed below yesterday's low which aligns nicely with
support of the 20 day MA. First target would be the upper
BB/prior highs. Notice that price did not gap above trigger
which complicates the process. Now that price has moved up one
should adhere to their plan which for me would be trailing up stop
tight on at least a portion (or selling a few near target)
and moving stop to breakeven on balance. This depends
upon ones objectives.
Posted by greggone on 23rd of Apr 2024 at 11:32 am
Anyone here know a good trading platform with no/low fees &
commissions for those based in the EU? I have a good friend
in italy who’s getting killed by his bank and would love to send
some better alternatives his way…
I know there are some Europeans on here.. many thanks in
advance for sharing any experience you have!
Posted by DigiNomad on 23rd of Apr 2024 at 11:37 am
IBKR - "Clients in over 200 countries and territories trade
stocks, options, futures, currencies, bonds, funds and more on
150 global marketsfrom a single unified platform .
Fund your account and trade assets in 27 currencies"
Posted by DigiNomad on 23rd of Apr 2024 at 01:25 pm
I've been with IBKR for about 20 years. The customer
service and platform leave a lot to be desired, but if you know
what you're doing, it's worth it for the price and access to so
many markets. If I had a simpler, just a couple of personal
accounts kinda thing going on, I would probably be with
TastyWorks....but I don't think they're international yet.
You can link your IBKR to other front ends, like TradingView,
for better trade functionality. But it's only good for simple
trading. If you're buying and selling complex option spreads, I
think you're basically stuck with the platform (unless you're a
coder and can program your own front end....not as hard as it used
to be now that we have generative AI). IBKR does have some
templates available in their API section.
mdgfain - on DUST you can count 3 waves up so far, could be an
abc of a 4 then down again that would form a 5 wave divergent low,
or the lows are in and the move up is not complete and for now we
have 3 waves,
The wave count on gold counts as completed a couple weeks ago as
v of 5 unless that was a wave 3 on the daily and this is a wave
4
tough to say on DUST. I was a good trade off the low, as I
alway say the hardest part of trading is not first entering the
trade, but exits, exits are are far more difficult.
and yes depends on your trading style and strategy - a lot of
different variables basically
on the daily while DUST could come back down, if it make another
low that will form a heck of a MACD divergence.
otherwise I still think DUST will likely form sort of of higher
low here but we'll see
again there's never one easy answer, I know that it's difficult,
especially on exits, but also don't get frustrated if we can't tell
you exactly, and we are not allowed to give advice as it is. We can
say what we think or lean to and give options and analysis and
guidance but not trading advice
just like ZSL was a great trade/hedge - again taking profits or
keeping some is the tougher question, I had exited mine this
morning and I'm now flat.
that said, another trader who is deciding to hold his SLV for a
long term hold may elect to keep the ZSL as a hedge if he thinks
precious metals are in for a 2 or 3 month consolidation period
before running up again.
or a hybrid trader may sell 1/2 to lock in gains and keep the
other 1/2 with a stop
last comment: again we should all try to devise our own trading
plan, and that may be multiple plans depending on the accounts you
are trading, such as a 401K IRA or a trading account, you may have
different plans and trading styles for them
The mechanical systems, mean reversion and KISS systems follow
hard rules and discipline. We should probably all be more
like the systems as a rule based strategy approach is the best
approach to trading. The systems follow their strategy and rules to
a tee, whereas we human's tend to waiver and get wishy washy and
emotional - it's not easy to set an exact set of rules like the
systems, but we should all try to have more of a systematic
approach to our own subjective trades, and that starts with sitting
down and devising a trading plan and style that fits you - and of
course that's easier said than done and can take years sometimes
and you go through modifications as you learn and go through
experiences
That is up to you depending upon your own strategy - for example
are you speculating or using as a hedge? In other words, you
must devise and follow a PLAN. I cannot stress the importance
of this enough. Many want to be told what to do instead of
putting together a sound plan (approach) that suits THEIR needs
which is what matters most.
Posted by fluffycone on 23rd of Apr 2024 at 12:01 pm
Steve,
To me, your statements sound like gibberish from an annoyed
professor.
I believe many us here want to learn by hearing the guidance of a
Subject Matter Expert (SME) / mentor on a problem we are working
on.
For example, in math, a mentor with a heart of teacher will show
and tell their students how to solve a problem (maybe many times
over). As the student practices other similar math problems and
gets stuck, the mentor/teacher may have to tell the student the
next step(s). Eventually after much practice, the student can solve
similar problems on their on.
fluffycone - we spend countless hours reviewing (teaching
tidbits) here and in newsletters but one must apply such teachings
in accordance with their specific objectives and risk tolerance.
Unlike a Math equation - there is not one simple answer.
I'd be happy to review a detailed question with all the data
points provided along with the risk tolerance employed by the
trader. But this takes time and is very difficult during
market hours when things are moving. I'm trying to share
information here that is most relevant during trading hours such as
key support resistance zone on the SPX which tends to impact many
holdings.
Posted by fluffycone on 23rd of Apr 2024 at 12:49 pm
1. What are examples of "Objectives"?
2. What are examples of "Risk Tolerance"?
When I hear these questions, I feel like a deer staring into the
headlights.
You are correct that you guys have been providing many hours of
tidbits (nuggets), but I seem to never be able to glue the
tidbits together into a working solution. I did post a process
earlier to see if I understood how to leverage the KISS STS tables
correctly.
BTW, I am using Investopedia Simulator and I can say that I have
blown up that account a few times. LOL!!
One reason you have likely blown up that account is you have yet
to establish a PLAN that incorporates a systematic approach
including valid reasons for entry such a valid support and
resistance and/or valid patterns (followed by triggers), realistic
targets and appropriate stops levels.
No, I haven’t blown up my plan. I have made almost 20k in
profits the last two days. I have paid for this service for over
ten years and followed it pretty closely, but you’re right, I
struggle with developing a plan. And you’re right , I tend to
swing too hard and too fast, then react. Also I am a swing
trader, not a day trader, so interpreting day trade comments and
trying to convert them to swing trade action is a bit difficult.
I am using IRA money and have to respect the 2 day
restriction on selling. Per our DUST/GDX example, maybe I can learn
to enter and exit in increments so that I have more flexibility in
timing and can make more gradual shifts instead of too much all or
nothing. I have learned a lot from you, but not enough, and I tend
to trigger you when I ask a dumb question. Sorry for that. I’ll
work on it.
Investopedia Simulator?? I don't know what that is and have
never looked at it, what are you simulating or doing with it,
unless you gave exact details or some examples of that I can't make
any comments or give any feedback at all to that
Sure, but please be specific with questions including your risk
tolerance and entries Asking a question like is it a good
time to sell DUST is far to vague without knowing risk tolerance,
etc. This is NOT a math equation. Also it's hard for
me to review specific stocks/ETFs in a timely manner when I have
not time to review properly.
My observations are that this is the C leg of a possible ABC
reversion. I believe that Gold may be in a longer term
bull market, so this may be the time to take some profits. I
don’t think that 5 legs are likely in this scenario, but I could be
wrong.
Then you should follow your plan - hopefully you bought the dip
when GDX was bouncing to form a lower high. Very short term
GDX made a divergent low on 15 minute and bounced.
SPX Breadth Thrust? - Another
Posted by DigiNomad on 23rd of Apr 2024 at 01:32 pm
SPX Breadth Thrust? - Another nightly newsletter / video I watch called out a potential breadth thrust incoming. A thrust like the one we got to start the October rally, but way more rare because it happened so close to the top whereas they typically occur close to major bottoms. Are you guys seeing the same thing? Again, not triggered yet, it just looked like a possibility in the near term....according to the guy making the presentation.
Would be a strange place for it, but it also wouldn't surprise me because the Gov is ALL IN on spending and is not going to let up until after the election...I personally don't think they can let up at this point until something breaks - they've gone past the point of no return.
Certainly a possibility - others
Posted by steve on 23rd of Apr 2024 at 01:35 pm
Certainly a possibility - others look for volume percentage confirmation (The IBD method). Need a minimum of 80% UVOL - also note the NYSE and DJI are testing their respective 20/21 EMAs
I think it's doubtful that
Posted by mastermind on 23rd of Apr 2024 at 02:30 pm
I think it's doubtful that IBD would call this a confirmed rally only two days after they said the market went to correction, but I could be wrong.
Here's the current reading from
Posted by DigiNomad on 23rd of Apr 2024 at 01:52 pm
Here's the current reading from BPT saved chart (we're pretty close considering the rule calls for 9 days or less from oversold to overbought...and we're on day 2):
VOLD 5-6 today after spending
Posted by DigiNomad on 23rd of Apr 2024 at 01:37 pm
VOLD 5-6 today after spending most of yesterday in the 3's.
LPG Updated View - FLUFFY TAKE TIME TO REVIEW CLOSELY
Posted by steve on 23rd of Apr 2024 at 01:32 pm
LPG - Chart Link- fluffy - the trigger here was one penny above yesterday's high - once triggered an immediate stop would be placed below yesterday's low which aligns nicely with support of the 20 day MA. First target would be the upper BB/prior highs. Notice that price did not gap above trigger which complicates the process. Now that price has moved up one should adhere to their plan which for me would be trailing up stop tight on at least a portion (or selling a few near target) and moving stop to breakeven on balance. This depends upon ones objectives.
SMR moving off its 50
Posted by mastermind on 23rd of Apr 2024 at 01:21 pm
SMR moving off its 50 DMA.
ES fuitures and Trading View
Posted by matt on 23rd of Apr 2024 at 12:55 pm
https://www.tradingview.com/chart/WVDTpjM0/
so that you can monitor
GDX 120 Additional Comments
Posted by steve on 23rd of Apr 2024 at 12:54 pm
GDX - Chart Link- this would relate to one trading DUST.
Take time to map out your levels AHEAD of entry so you are prepared to act in the heat of battle.
Thanks. That was helpful.
Posted by mdgfain on 23rd of Apr 2024 at 02:34 pm
Thanks. That was helpful.
SPX 10m ...
Posted by mla127 on 23rd of Apr 2024 at 12:10 pm
SPX 10m ...
SPOT--double top from way back
Posted by shellson2 on 23rd of Apr 2024 at 12:06 pm
SPOT--double top from way back in 10/2020???
Interactive Brokers world wide, I
Posted by ruidoso on 23rd of Apr 2024 at 11:37 am
Interactive Brokers world wide, I do believe....
Anyone here know a good
Posted by greggone on 23rd of Apr 2024 at 11:32 am
Anyone here know a good trading platform with no/low fees & commissions for those based in the EU? I have a good friend in italy who’s getting killed by his bank and would love to send some better alternatives his way…
I know there are some Europeans on here.. many thanks in advance for sharing any experience you have!
IBKR - "Clients in over
Posted by DigiNomad on 23rd of Apr 2024 at 11:37 am
IBKR - "Clients in over 200 countries and territories trade stocks, options, futures, currencies, bonds, funds and more on 150 global marketsfrom a single unified platform . Fund your account and trade assets in 27 currencies"
Thanks.. they’re definitely the ones
Posted by greggone on 23rd of Apr 2024 at 01:08 pm
Thanks.. they’re definitely the ones that have come up most in searching online… anyone tried them? Good/bad experiences.
I've been with IBKR for
Posted by DigiNomad on 23rd of Apr 2024 at 01:25 pm
I've been with IBKR for about 20 years. The customer service and platform leave a lot to be desired, but if you know what you're doing, it's worth it for the price and access to so many markets. If I had a simpler, just a couple of personal accounts kinda thing going on, I would probably be with TastyWorks....but I don't think they're international yet.
You can link your IBKR to other front ends, like TradingView, for better trade functionality. But it's only good for simple trading. If you're buying and selling complex option spreads, I think you're basically stuck with the platform (unless you're a coder and can program your own front end....not as hard as it used to be now that we have generative AI). IBKR does have some templates available in their API section.
Super helpful, appreciate you taking
Posted by greggone on 23rd of Apr 2024 at 01:41 pm
Super helpful, appreciate you taking the time to write up detailed feedback!
Do not forget - later
Posted by steve on 23rd of Apr 2024 at 11:01 am
Do not forget - later this week we have MEGA caps reporting such as META and especially MSFT (market movers)
AVAV moving after Ukraine spending
Posted by mastermind on 23rd of Apr 2024 at 11:00 am
AVAV moving after Ukraine spending bill
Everything is moving after the
Posted by DigiNomad on 23rd of Apr 2024 at 11:01 am
Everything is moving after the spending bill
This alert came in about
Posted by DigiNomad on 23rd of Apr 2024 at 10:58 am
This alert came in about 25 minutes ago. I'm still testing these alerts on various time frames with different settings.
*This particular one would be a "buy stop" or a "cover short"....once I label it correctly.
Steve, Is it a good
Posted by mdgfain on 23rd of Apr 2024 at 10:46 am
Steve, Is it a good time to sell DUST?
mdgfain - on DUST you
Posted by matt on 23rd of Apr 2024 at 12:16 pm
mdgfain - on DUST you can count 3 waves up so far, could be an abc of a 4 then down again that would form a 5 wave divergent low, or the lows are in and the move up is not complete and for now we have 3 waves,
The wave count on gold counts as completed a couple weeks ago as v of 5 unless that was a wave 3 on the daily and this is a wave 4
tough to say on DUST. I was a good trade off the low, as I alway say the hardest part of trading is not first entering the trade, but exits, exits are are far more difficult.
and yes depends on your trading style and strategy - a lot of different variables basically
on the daily while DUST could come back down, if it make another low that will form a heck of a MACD divergence.
otherwise I still think DUST will likely form sort of of higher low here but we'll see
again there's never one easy answer, I know that it's difficult, especially on exits, but also don't get frustrated if we can't tell you exactly, and we are not allowed to give advice as it is. We can say what we think or lean to and give options and analysis and guidance but not trading advice
just like ZSL was a
Posted by matt on 23rd of Apr 2024 at 12:20 pm
just like ZSL was a great trade/hedge - again taking profits or keeping some is the tougher question, I had exited mine this morning and I'm now flat.
that said, another trader who is deciding to hold his SLV for a long term hold may elect to keep the ZSL as a hedge if he thinks precious metals are in for a 2 or 3 month consolidation period before running up again.
or a hybrid trader may sell 1/2 to lock in gains and keep the other 1/2 with a stop
and another trader like my may have exited it all
the point is, it's never one easy answer on exits
last comment: again we should
Posted by matt on 23rd of Apr 2024 at 12:29 pm
last comment: again we should all try to devise our own trading plan, and that may be multiple plans depending on the accounts you are trading, such as a 401K IRA or a trading account, you may have different plans and trading styles for them
The mechanical systems, mean reversion and KISS systems follow hard rules and discipline. We should probably all be more like the systems as a rule based strategy approach is the best approach to trading. The systems follow their strategy and rules to a tee, whereas we human's tend to waiver and get wishy washy and emotional - it's not easy to set an exact set of rules like the systems, but we should all try to have more of a systematic approach to our own subjective trades, and that starts with sitting down and devising a trading plan and style that fits you - and of course that's easier said than done and can take years sometimes and you go through modifications as you learn and go through experiences
That is up to you
Posted by steve on 23rd of Apr 2024 at 10:49 am
That is up to you depending upon your own strategy - for example are you speculating or using as a hedge? In other words, you must devise and follow a PLAN. I cannot stress the importance of this enough. Many want to be told what to do instead of putting together a sound plan (approach) that suits THEIR needs which is what matters most.
Steve, To me, your statements sound
Posted by fluffycone on 23rd of Apr 2024 at 12:01 pm
Steve,
To me, your statements sound like gibberish from an annoyed professor.
I believe many us here want to learn by hearing the guidance of a Subject Matter Expert (SME) / mentor on a problem we are working on.
For example, in math, a mentor with a heart of teacher will show and tell their students how to solve a problem (maybe many times over). As the student practices other similar math problems and gets stuck, the mentor/teacher may have to tell the student the next step(s). Eventually after much practice, the student can solve similar problems on their on.
fluffycone - we spend countless
Posted by steve on 23rd of Apr 2024 at 12:17 pm
fluffycone - we spend countless hours reviewing (teaching tidbits) here and in newsletters but one must apply such teachings in accordance with their specific objectives and risk tolerance. Unlike a Math equation - there is not one simple answer. I'd be happy to review a detailed question with all the data points provided along with the risk tolerance employed by the trader. But this takes time and is very difficult during market hours when things are moving. I'm trying to share information here that is most relevant during trading hours such as key support resistance zone on the SPX which tends to impact many holdings.
1. What are examples of
Posted by fluffycone on 23rd of Apr 2024 at 12:49 pm
1. What are examples of "Objectives"?
2. What are examples of "Risk Tolerance"?
When I hear these questions, I feel like a deer staring into the headlights.
You are correct that you guys have been providing many hours of tidbits (nuggets), but I seem to never be able to glue the tidbits together into a working solution. I did post a process earlier to see if I understood how to leverage the KISS STS tables correctly.
BTW, I am using Investopedia Simulator and I can say that I have blown up that account a few times. LOL!!
One reason you have likely
Posted by steve on 23rd of Apr 2024 at 01:07 pm
One reason you have likely blown up that account is you have yet to establish a PLAN that incorporates a systematic approach including valid reasons for entry such a valid support and resistance and/or valid patterns (followed by triggers), realistic targets and appropriate stops levels.
No, I haven’t blown up
Posted by mdgfain on 23rd of Apr 2024 at 02:44 pm
No, I haven’t blown up my plan. I have made almost 20k in profits the last two days. I have paid for this service for over ten years and followed it pretty closely, but you’re right, I struggle with developing a plan. And you’re right , I tend to swing too hard and too fast, then react. Also I am a swing trader, not a day trader, so interpreting day trade comments and trying to convert them to swing trade action is a bit difficult. I am using IRA money and have to respect the 2 day restriction on selling. Per our DUST/GDX example, maybe I can learn to enter and exit in increments so that I have more flexibility in timing and can make more gradual shifts instead of too much all or nothing. I have learned a lot from you, but not enough, and I tend to trigger you when I ask a dumb question. Sorry for that. I’ll work on it.
That was a reply to
Posted by steve on 23rd of Apr 2024 at 02:46 pm
That was a reply to Fluffy post where he stated he blew up his account via simulator - not to you, so please review closely to avoid any confusion.
Ok. Thanks. Sorry for the
Posted by mdgfain on 23rd of Apr 2024 at 04:27 pm
Ok. Thanks. Sorry for the confusion. It was under my heading on the Community post, and I didn’t open the whole chain. I have been working.
Objectives - what are you
Posted by steve on 23rd of Apr 2024 at 01:01 pm
Objectives - what are you attempting to accomplish in terms of gains on your portfolio. Just broadly speaking.
Risk Tolerance - how much are you willing to risk to obtain your objectives.
A specific example would be on a trade - what percentage gain are you looking to achieve? What are you willing to risk to meet that target?
Investopedia Simulator?? I don't know
Posted by matt on 23rd of Apr 2024 at 12:53 pm
Investopedia Simulator?? I don't know what that is and have never looked at it, what are you simulating or doing with it, unless you gave exact details or some examples of that I can't make any comments or give any feedback at all to that
Sure, but please be specific
Posted by steve on 23rd of Apr 2024 at 12:13 pm
Sure, but please be specific with questions including your risk tolerance and entries Asking a question like is it a good time to sell DUST is far to vague without knowing risk tolerance, etc. This is NOT a math equation. Also it's hard for me to review specific stocks/ETFs in a timely manner when I have not time to review properly.
Speculating.
Posted by mdgfain on 23rd of Apr 2024 at 10:52 am
Speculating.
My observations are that this
Posted by mdgfain on 23rd of Apr 2024 at 10:59 am
My observations are that this is the C leg of a possible ABC reversion. I believe that Gold may be in a longer term bull market, so this may be the time to take some profits. I don’t think that 5 legs are likely in this scenario, but I could be wrong.
Then you should follow your
Posted by steve on 23rd of Apr 2024 at 10:59 am
Then you should follow your plan - hopefully you bought the dip when GDX was bouncing to form a lower high. Very short term GDX made a divergent low on 15 minute and bounced.
Thanks.
Posted by mdgfain on 23rd of Apr 2024 at 11:00 am
Thanks.
Is there a character limit
Posted by fluffycone on 23rd of Apr 2024 at 10:41 am
Is there a character limit on these thread posts? I tried to post the message in the attached image to no avail.
DELL (recent trade idea) has
Posted by steve on 23rd of Apr 2024 at 10:27 am
DELL (recent trade idea) has provided a decent bounce but now testing 20 day MA
Gold almost green, trying to
Posted by ruidoso on 23rd of Apr 2024 at 10:14 am
Gold almost green, trying to reject it
GC Backtesting 2345 breakdown area
Posted by steve on 23rd of Apr 2024 at 10:15 am
GC Backtesting 2345 breakdown area - mentioned to Matt yesterday if that was lost last night it would drop like a rock which it did overnight
yep nice pullback from that
Posted by matt on 23rd of Apr 2024 at 10:20 am
yep nice pullback from that resistance area, you also had Demark 9 on 15 min chart and Demark 13 on 5 min
oscr still moving up
Posted by morton7 on 23rd of Apr 2024 at 10:14 am
oscr still moving up
OSCR
Posted by steve on 23rd of Apr 2024 at 10:25 am
Yes Morton - it held and bounced off 9 day EMA
LFMD making a strong move
Posted by mastermind on 23rd of Apr 2024 at 10:11 am
LFMD making a strong move out of a consolidation. SOUN bouncing after a big pullback.
SPX 15 Updated View
Posted by steve on 23rd of Apr 2024 at 10:07 am
$SPX - Chart Link
USD
Posted by steve on 23rd of Apr 2024 at 10:01 am
$USD - Chart Link