Hanging in there until the signal says differently.
OFF TOPIC:
Quillnpenn - I really like the idea of having an objective trigger for buys and sells, but I have a question on how you implement that. It looks great and obvious when a stock pivots like Tesla did in February and has a long trend. The problem I’ve had in the long ago past was if you follow that method on a stock stuck in a channel for several months you are in and out wasting money, time, and effort.
Between July and Dec Tesla crossed the dotted line 25 times telling you to trade it 25 times. Even if you wait for the larger outer lines, which gives much less gain and often yields a loss, it is still around 15-20 trades depending on how you implement.
Looking back in time it looks obvious when to ignore ‘the signal’ but in real time you just can’t know. I have to admit, I get a little peeved when you make it sound like it’s so simply, just follow the “not lying” chart.
I too have had the perfect timing that Saul mentioned and know how humbling it is to think your right and almost to the minute after you make a trade the stock goes the other way. I guess I’d like to hear how you really implement this so we can always be right and just sleep well watching the chart.
I do find your charts a useful addition to the board’s information.
12 Likes
F1Fun,
Please remember that Investing is a Business and must be treated as such.
I also trade for a living since I was laid off on May 1st 2007 at high noon as a Principle Integrated Circuit (IC) Layout Designer for 41 years designing Complex state of the art computer chips.
I am also a CAREGIVER 24/7 to my wife who has Lymes desease and Parkinson Desease who has a difficult time getting around and feeding and washing herself since January of 2003. Haven’t gone on vacations in 16 years.
The following charts are all I ever use.
some traders/investors use the Keltner chart as you have noticed. Been trained to watch the dotted (20ema) line. I don’t like to use the chart other than ah substantial look.
The chart I use for all my decisions is on Freestockcharts.com
Type in TSLA and add indicator the items that are found on the index card below.
Being lazy and get sea sick, I watch panel 3. There will be profits and there will some minor losses.
On a 3 x 5 Index Card
Panel 1 : 20 Exponential (green) crosses over 200 Exponential (red) moving averages with price line (default is candlesticks).
Panel 2: Volume 3/4" in height
Panel 3: MACD 12 26 18. Buy when MACD Line (cyan) crosses the MACD Signal(white).
Panel 4: CCI 14, red line for 100, green for -100
http://www.onlinetradingconcepts.com/TechnicalAnalysis/Commo… aka Cheat Sheet. Will be always in a positive cash flow.
If you like something challenging. A professional trader only trades 1-2 stocks only. 5 minute and 15-minute charts are used.
When you watch on CNBC in the background when the talk heads are yapping notice in the folks in the blue jackets at their trading stations. They trade only trade one stock.
With Freestockcharts, view the charts candlesticks and follow some simple rules to trade:
-
Buy first Green Bar after last Red Bar.
-
Sell first Red Bar after last Green Bar.
Stir, rinse and repeat.
buy 500 or 1000 shares.
TSLA has two red bars going now. On average there will be 3 red bars in a row. The next bar should be green.
put the cursor on 3/31 @ 229, out the first red bar @ 266. 16.1572 percent profit. and then we wait.
The 20ema is like a magnet. The prices don’t drift too far above and below.
Have fun and enjoy the journey with Saul & Co.
Best regards,
Quillnpenn - a professional swing trader.
pool of stocks just like the guys in the blue jackets: AA, 0, TR, AU, X, HA, SLW.
20 Likes
Quill,
you prefer FreeCharts over StockCharts…I cannot get my MacBook Pro to open FreeCharts.
thanks
andy
Quill
I got the free version to open Do you use that or the premium, which is less than the StockCharts price.
andy
Andy,
I believe you can go through SAFARI on you Mac Book
Freestockcharts can’t be seen through Googles Chrome either.
https://www.google.com/webhp?ie=UTF-8&rct=j#q=mac+book+s…
https://www.google.com/search?q=macbook+safari&biw=1249&…
Best regards,
Quillnpenn
Andy,
Free is good for a lack of a better word.
Quill
quill,
thanks but do you mean you prefer free chats over stock charts or the free version of freecharts over the premium? I got it to work, finally
just trying to decide if I should pay for the premium version
andy
quill-
thank you for this, it is fascinating. And that’s all I’ll say for now.
But wanted to make sure Saul is ok with this discussion here, or can we take it somewhere else?
Also, I think? I figured out how to set up your charts, they look a little different, but I am close.
Maybe it is because I am using the free version?
Anyway, how does this look?
and the “green and red bars,” is that on volume or on the candlesticks on the “price history?”
Brian
http://www.freestockcharts.com?emailChartID=f53603ef-cd8a-4967-b680-0e580b314db7
Brian,
I am in vag·a·bond mode. But my luggage is the following:
Investing/Strategies / Technical Trader’s Sanctuary… is where we hang out.
your pretty close
the white background is hurting my eyes…is there any way to change the background to be Black. Much much better on the eyes for everyone.
you can change plot style by clickin on Settings. I use both line and candlesticks.
Shrink or squeeze the volume down to about 3/4" don’t need the moving average 50.
try just plain MACD then change to MACD 12 26 and Exp moving average to 18. I use scanning tools from Stockcharts to finding the exact Xover per portfolio or all 10,000 stocks starting at $10.00.
Scan 18-AAA Long MACD 12 26 Line xover MACD 12 26 Signal… found 19 stocks as of 4pm.
edit cci 14 add thin green line at the -100 line
add thin Red line at the 100 line.
dashed line for the 0 line
left click on the panel and then select Edit plot guides then you should 3 lines and edit them.
and edit scaling to balance each panel - centered is best. tweak here tweak there.
Best regards,
Quillnpenn
1 Like
Quilpenn,
I have sympathy for your wife. My wife is surviver of 4 major surgeries including the removal of a kidney. She is (so far) a cancer surviver.
we both take care of each other.
My late, only brother had a lot of suffering too and eventually took his own life.
My wife and I took care of my mother and father until they both died in a nursing home…He from throat cancer and she from Alzheimers.
Keep up the good work man… My best to you and your wife.
Frank
15 Likes
Frank,
We thank you very much for the kind words.
I am also a Colon Cancer survivor two years ago. While getting the 4 bags of juice thru the Power Port in my chest for 4 hours every two weeks at Memorial Sloan Cancer Center, I enhanced my Perpetual Income coming in for the rest of my life now with 12 portfolios. Currently completed the first two and a half. Each portfolio has 15 stocks.
Enjoy the journey here on Sauls board.
Best regards, I am
Quillnpenn -
1 Like
Quill,
best wishes to you and your wife.
and, thanks for your very helpful postings
andy
But wanted to make sure Saul is ok with this discussion here, or can we take it somewhere else?
Hi Brian,
I don’t mind occasional posts on TA, but this discussion is getting extended. Since Quill suggested the Technical Traders’ Sanctuary, I’d appreciate it if you’d continue the discussion there, as it is off-topic here. Thanks.
Saul
PS Here’s a link to the Technical Traders’ Sanctuary. (It’s the right place as Quill has lots of posts there.)
http://discussion.fool.com/technical-traders-sanctuary-115480.as…
thanks again!
4 Likes