Just remember, you must learn how to lose before you can win. Tim G blew up his account SEVERAL times before becoming profitable. Keep at it brotha. Cut down position size, stick to your plan, and most importantly, cut losses quickly and move on. Learn from your mistakes.
Yes, it hurts to lose. But, I believe that you are building your trading character and wisdom. I have learned from Tim.I only use about 10% of my portfolio to stop the pain.
It's not a loss if you learn from it, but tuition.
@Turbobob Hey Bob, do you have any reference where to properly study and get familiar with ABCD pattern? Do you use it for swing trades? Thanks and happy new year!
That would be great to have a video on it. Why do you think abcd is not suitable for swing trades?
It maybe, but I have only used it for day trading. You would have to back test it to see if it works for swings.
There's plenty free stuff on trading ABCDs on Youtube by IU, e.g. https://www.youtube.com/watch?v=ExnfRPnzSmw
No sense in re-inventing the wheel then....
@Turbobob Hey Bob, I am interested in how you estimated the top of the channel for ACBFF. I went long on the breakout over 5.45, with the conservative goal of the stock testing the round number 6.0. Normally, I have patience issues holding a stock on a clear sky breakout, so your method of estimating price levels overhead in such a situation would be extremely helpful for me. Much appreciated!
The measured move comes from the break out above $2.34 to $5.45 ($3.10). Add that to the pull back low of $4.00 and you get $7.10. So, my price target is in the $7.00 to $7.50 range. If you draw a line connecting the lows you will get a rising channel line. If you draw the parallel lin through the high you will see that the top of the channel is in the $18 to $29. range. That is the potential for it. Long shot, but potential.
@Turbobob Thank you for the description! Very helpful!
No problem. Happy it helps.
There is no doubt that there is a lot of work invovled, but the hard work pays off.
@Turbobob hi Bob...i listened to your interview on YTube that ITWilson took. similar to that, it will be awesome if you can take a video and share as to how and why you set your alerts, how do you create your WL, etc..
Thanks. Let me see what I can do for a video.
@Turbobob ty...appreciate it
Update on the brokerage. lol. Got with ETrade, I can't get used to their ETRADEPRO platform after using STT for a couple weeks. It seems really confusing. But thank you guys for the help. Just put 5k in ETRADE
holly fawk wtf :O
If you keep 100% equity on your short then you don't get charged interest. ie. you have $2k in your account and you short $2k of a stock then there is no interest. Also, E*Trade does not charge interest for intraday shorting, at least that's what they just told me.
Is this for real??
@Israel500 tnx man
@Torkers ha yup
you are definitely a SHORTER.
@GreTa aeeyeee a think so
@Jane_kenney I'm quite sure you're likely not profitable yourself otherwise you would know the answer to your own question.
@Chopper_Trader appreciate that man
Dude, when you go r/g there has got to be some massive party for the chatrooms! Keep at it!
@Mpalex there will be
You have great teaching skills, Awesome video. Thanks
keep it coming Roland, thank
Thanks Roland. Awesome video