@Mpalex ^TRUE
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.
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@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....
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@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.
No problem. Happy it helps.
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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??
This can’t be right.....
They seem to be doing things not kosher. I know they have a lot of leeway with margin accounts but I am getting charged almost 60% interest on my short position, skyrocketed about 5% per day over 30 days, this seems usurious? Also, they keep playing with margin req's; went from 30% to 60%, this morning jumped to 90%??? Then 3 hours later back to 60%. WTH is going on? I smell lawsuit.
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@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!
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old overnight because 200% up with no news. 2nd day gap down and panic. 3rd day set a higher low back on watch. Looking to break 1st initial high. Next trade Thursday missed morning spike. 2.35 resistance from Monday. Broke 2.35 big pullback to 2.20s held started pushing back up into resistance. Entry 2.38 did not hold long because move was so fast and straight up no consolidation. Exit into spikes 2.68 avg. Got up into 3. Runners that are not dying there is possibility for a short squeeze. Jus
t dont overstay.
Thanks Roland going over your dvd as well
Thanks RolandWolf - Still working
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