This may pop before my post hits but I am long QQQQ calls for a scalp..pattern could either be clasified as inverse head and shoulders or ascending triangle. The price action says buyer's getting more aggressive and want to push in through.
Entry 42.20
Target #1 42.44
Intial Stop 42.08
Risk: .12 cents Reward .24 cents
http://stockcharts.c...5867&r=4917.png
VST QQQQ
Started by
StillLearnin
, Mar 13 2008 02:31 PM
7 replies to this topic
#1
StillLearnin
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#2
StillLearnin
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Posted 13 March 2008 - 02:41 PM
Moving stop to 43.15 ...just below last pivot on 1 min
#3
StillLearnin
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Posted 13 March 2008 - 02:48 PM
Stopped out...
Loss .08 with slippage/spread included
#4
bob4
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Posted 13 March 2008 - 02:55 PM
The way I saw it you were going long into resistance.
#5
StillLearnin
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Posted 13 March 2008 - 03:01 PM
Question..
The last few days I have posted some of my shorter term trades. Are they helpful or too many posts? Sometimes I wonder if they annoy people? I like taking VST trades if I see something for "lunch money" and to just have fun.
SL
#6
StillLearnin
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Posted 13 March 2008 - 03:07 PM
The way I saw it you were going long into resistance.
I appreciate the feedback Bob4. As I consider myself new and am crave feeback on my trades which is why I post them. Since I am new I keep my trades small.
I hate buying the breakouts as they so often are false breakouts...especially on the VST time frames. I saw a sign of buyer's (higher lows) leading up to about the 5th attempt to break that level in 2 days. Probably not a high percentage trade. I liked mine yesterday better....cause it worked
SL
#7
atlasshrugged
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Posted 13 March 2008 - 03:30 PM
This may pop before my post hits but I am long QQQQ calls for a scalp..pattern could either be clasified as inverse head and shoulders or ascending triangle. The price action says buyer's getting more aggressive and want to push in through.
Entry 42.20
Target #1 42.44
Intial Stop 42.08
Risk: .12 cents Reward .24 cents
http://stockcharts.c...5867&r=4917.png
sl....dont trade the ndx or q's on a one minute chart....there is no sense to it and it will drive you nuts...stick to longer periods like an hourly for the ndx
it is completely random on a 1 minute time frame
#8
hedgehawk
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Posted 13 March 2008 - 07:58 PM
Ye 1 hr chart is good stuff then add some type of an indicator or two and backtest it as well so you understand where the holes are. Rogerdodger has a pretty easy to understand and effective timing tool he shares it all the time with board and if I am not mistaken it is on his blog. This is old news but always use nonnegotiable stops or else you will lose all your money. 
