The Daytrading & Swingtrading Thread

Discuss your favourite picks, broker, and trading or investment style.
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Norbert Schlenker
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Post by Norbert Schlenker »

Just checking in briefly.
[long] CJR.B @ 13.05
So, fill us in.
Nothing can protect people who want to buy the Brooklyn Bridge.
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deaddog
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Post by deaddog »

Norbert Schlenker wrote:Just checking in briefly.
[long] CJR.B @ 13.05
So, fill us in.
deaddog wrote:

Buy 300 CJR.b @ 13.05

CJR.b made a new high Jan 22 and retraced
Today it traded above yesterdays high.

Stop @ 11.75
Nothing has changed. Stop is still at 11.75

Every thing I'm watching is still going down.

How's buy & hold treating you?? :wink:
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Norbert Schlenker
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Post by Norbert Schlenker »

deaddog wrote:Nothing has changed. Stop is still at 11.75
Still trying to understand. CJR took a little trip up to 13.75 this week and I figured that might have caused you to move the stop.
How's buy & hold treating you?? :wink:
No problem. This is nothing like November. Everything isn't going down now, so I'm reasonably content.
Nothing can protect people who want to buy the Brooklyn Bridge.
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deaddog
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Post by deaddog »

Norbert Schlenker wrote: Still trying to understand. CJR took a little trip up to 13.75 this week and I figured that might have caused you to move the stop.
What I was hoping to see was the price make a new swing high. Unfortunately it didn’t. However it hasn’t make a new swing low, yet.

Had it made a new swing high I would have been tempted to move my stop up to just under 12.75.

If price gets to between 12.75 and 11.75 ; then goes up but doesn’t make a new swing high ( 14.46) I will move the stop up to just below wherever it gets down to.

Image



I assume you’ve seen the study here. http://www.financialwisdomforum.org/for ... p?t=107204

Are we changing your way of thinking?
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Post by Peculiar_Investor »

Turns out there may be a better strategy than day trading, Night traders outperform. I'll admit I don't put much faith in reverse engineering strategies using data mining, but the article gave me some things to consider.
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Post by queerasmoi »

Interesting, but I wonder if they have factored in the illiquidity issue. Isn't there a certain amount of "blindness" involved in night trading? Can you really get accurate enough quotes to know you're buying at "the going" price?
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Post by milo »

I find the most difficult part is to decide on when to close a position?
When will you close this position on cjr.b?
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Post by deaddog »

milo wrote:I find the most difficult part is to decide on when to close a position?
When will you close this position on cjr.b?
When/If it starts to go up I'll trail a stop below the swing lows.
Again I use a 30 MA as a filter. The swing low has to close below the MA before I consider the swing low as a signal.
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Post by deaddog »

queerasmoi wrote:Interesting, but I wonder if they have factored in the illiquidity issue. Isn't there a certain amount of "blindness" involved in night trading? Can you really get accurate enough quotes to know you're buying at "the going" price?
The futures market is open all night and liquidity won't be a problem unless you are trying to move hundreds of contracts.

You could also buy SPY at the colse and sell at the open.
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Post by Clock Watcher »

deaddog wrote:I haven't asked but I'm assuming that as this is a Canadian Tax saving scheme that I can't set up the account in US dollars.
I believe you can with Questrade, but it seems to have issues with reliability (both technical and things happening that shouldn't, and are difficult to get fixed).
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Post by deaddog »

Clock Watcher wrote:
deaddog wrote:I haven't asked but I'm assuming that as this is a Canadian Tax saving scheme that I can't set up the account in US dollars.
I believe you can with Questrade, but it seems to have issues with reliability (both technical and things happening that shouldn't, and are difficult to get fixed).
I closed my Questrade acct when they started with the fees for a paper statement.

This is with RBC DI.
I prefer to trade with IB but no registered accts.
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Post by deaddog »

3 Stocks have met my criteria.

Traded above the 30 week MA
Retraced but have made a higher swing low.

EXF will consider if it breaks 5.25

NGX will consider if it breaks 1.95

VT will consider if it breaks 11.25

Still holding CJR.b
Took this stock using a 30 day MA criteria and bought on a retracement.
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Post by jay »

deaddog, you have an interesting TA model. Regarding:
A real rally will have a weekly close above the high of the last rally. I would then wait for a pull back to enter the market.
I have a few questions:

Do you use moving averages as well? If so, what if the weekly close was higher than the high of the previous rally, yet still lower than the MA of your choice?

How much of a pull back do you wait for? What if the stock pulled back to a point where it would now be lower than the HIGH of the previous rally, or even worse, below the MA of your choice?

Is this model back-tested?

And do you use a software system to notify you or do you just maintain your own spreadsheets?

Sorry for all the questions, but this bear market have gotten me seriously thinking about TA (not the double bottom and head and shoulders stuff), but rather moving averages as a means of risk management.

Thanks
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Post by deaddog »

I was going to post this over in stock picking on the “Deaddog Cronicles” but I can’t find the tread.
jay wrote:

I have a few questions:

Do you use moving averages as well? If so, what if the weekly close was higher than the high of the previous rally, yet still lower than the MA of your choice?

Yes I use a 30 week MA. In order for me to buy a stock it has to be trading above the 30 MA. If it is not above then I don’t trade it.
jay wrote: How much of a pull back do you wait for? What if the stock pulled back to a point where it would now be lower than the HIGH of the previous rally, or even worse, below the MA of your choice?
I prefer to see it pull back 50% of its move from the last swing low to the last swing high. To determine the last swing high it has to trade a minimum of 2 weeks below the last high, or at least 2 bars/candles on a weekly chart.
As long as it doesn’t make a new swing low you should be all right. Probabilities are better if it only comes back 50%
jay wrote:

Is this model back-tested?

You can do it yourself on any chart you want.
jay wrote:
And do you use a software system to notify you or do you just maintain your own spreadsheets?
I use charts that I scan weekly to see if a set-up has occurred.
I also use stochcharts.com that allows me to scan all markets for just about any criteia I can come up with.
Right now I’m just looking at the stocks I sold in Sept.
jay wrote:

Sorry for all the questions, but this bear market have gotten me seriously thinking about TA (not the double bottom and head and shoulders stuff), but rather moving averages as a means of risk management.

Thanks
You can check out bankers thread:
http://www.financialwisdomforum.org/for ... sc&start=0
There is a simple moving average cross system that seem to perform.
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Post by deaddog »

Just bumping the tread up;
Someone moved it and it took me a while to find it. :?
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Post by milo »

Deaddog,
when you place sell stops has it ever occured to you
where your Stop was reached but never executed or takes
a longggg time to execute at whch time the sell price is well below stop.

This has happen many times with me @ TDW.
Especially in volatile days and in thin and some not so thin volume stocks
(e.g. Horizons beta pros).
I get sold well below and the next day the stock bounces.

Then maybe I should use a Stop Sell with a Limit.
In which case the Sell may never occur.

This why these daytradings backfire on me.
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Post by deaddog »

milo wrote:Deaddog,
when you place sell stops has it ever occured to you
where your Stop was reached but never executed or takes
a longggg time to execute at whch time the sell price is well below stop.

This has happen many times with me @ TDW.
Especially in volatile days and in thin and some not so thin volume stocks
(e.g. Horizons beta pros).
I get sold well below and the next day the stock bounces.

Then maybe I should use a Stop Sell with a Limit.
In which case the Sell may never occur.

This why these daytradings backfire on me.
Never had much problem with slippage;

RBC DI has had some bad fills but nothing unusual. I kind of expect it from the banks.

IB where I daytrade is usually filled at the market price shown on ths screen at the time I submit my order. I click the mouse and the order is filled. With stops it hits the price and is filled immediatley. Some slippage but it's not always in IBs favor. Overall I'm satisfied.

I don't trade the Horizon beta pros (Too risky) but I have noticed quite a spread between bid and ask at times.
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Post by deaddog »

ETG fits the criteria:

Started a position at 1.68
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Post by hotgo »

deaddog wrote:ETG fits the criteria:

Started a position at 1.68
Still holding? If so, what is your stop-loss at?
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Post by deaddog »

hotgo wrote:
Still holding? If so, what is your stop-loss at?
Still holding.

Last time it closed below the 30 week ma the low was 1.10
My stop will be 1.05.
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Post by deaddog »

X: Buy @ 34.40 limit order.

Order was filled.

Meets 30week criteria. Had traded above the swing high and came back.
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Post by Norbert Schlenker »

deaddog, still have the CJR? If so, where's your stop?
Nothing can protect people who want to buy the Brooklyn Bridge.
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Post by deaddog »

Norbert Schlenker wrote:deaddog, still have the CJR? If so, where's your stop?
Yes I'm still holding.

Stop at breakeven. Now a no risk trade.
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Post by Norbert Schlenker »

Why isn't the stop higher?
Nothing can protect people who want to buy the Brooklyn Bridge.
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Post by deaddog »

Norbert Schlenker wrote:Why isn't the stop higher?
Norbert;

I assume you have access to a daily chart. The last swing low is at 12.81 in late march. The stop should be just below that point. I expect that 14.00 will be support as the price had trouble breaking through that level prior to this breakout. I won’t be surprised if price comes back to that level.

I have the stop at breakeven and now have a no risk trade. I’m even getting a bit of a dividend. Once the price comes back and makes a new swing low I will consider moving my stop to below that point and locking in a little profit.

My risk is defined. The upside potential is unlimited. I could place a good till cancelled order and take the summer off. My idea of a perfect trade.
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