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Madbash
Madbash Jan 27, 16 6:01 PM

Thanks for sharing. I know when I go in to a trade I immediately decide my exit range. In this case I would probably have a mental stop of 3% so you gotta watch for those 10-15 cents that will start to put you past your risk limit. With your finger on the trigger, if those 5.30s start ticking off hit Buy to Cover limit 5.35. Now, in practice it doesn't always work so easily, but I think that is the best approach for cutting losses quickley. Good Luck.

Patience_Trader
1
Patience_Trader Jan 27, 16 6:44 PM

Always gotta remember there will be another opportunity. It is always better to miss an opportunity that to short at the bottom or buy at the top. Just dont make the same mistake and you will do just fine! Thanks for sharing

fastdounut
fastdounut Jan 27, 16 7:30 PM

Yea I agree, should have waited for a pull back, then short

GKOPENA
GKOPENA Jan 28, 16 4:46 AM

You said it in your post, you had no risk/reward set before you entered the trade. That is the key and you realised it quite brilliantly. Next time you will do better. And thank you for sharing

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ironmiketyson86
ironmiketyson86 Nov 11, 15 10:09 PM

what's your reading on support level on SPHS? Was watching this stock most of the early afternoon into the close. Very fast movements in both directions. I wanted to short @2.95ish area (there appeared to be a wall of sellers) and I'm glad I didn't. It rocketed past 3 and into the 3.20s later 3.30s. Moves quick so keep your finger on the exit button.

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Sir_Scuttles
1
Sir_Scuttles Nov 07, 15 7:51 PM

Okay I see where your coming from on bioc. The issue from what I see here is from the daily chart. Where it was at on the price was overwhelmed by the sellers of days prior. See how it dipped and then slowly uptrended. Look for earnings where they are near multi month breakouts. Then when they prove themselves by holding that breakout you can dip buy using last low as your risk. I hope that helps you on that trade. I have recently been told this. Seems to make alot of since. Intraday chart is im

Sergious
1
Sergious Nov 08, 15 12:34 AM

Thanks for the video. I like to see what your thinking was behind every trade.

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babynoah
1
babynoah Oct 13, 15 2:36 PM

Seems like more traps. Than decent plays.

longstoryshort
2
longstoryshort Oct 13, 15 5:37 PM

Tim always says these are the worst months before December and January roll around and it is really showing. I think the timing plus the fact that everyone is just scared because they are not confident in which direction the market is going to move they are holding on to their money waiting for a trend.

Ike
1
Ike Oct 13, 15 7:00 PM

Yup, its a lame month so far. I just posted about this topic as well

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pomonkey
pomonkey Oct 12, 15 8:01 PM

Keep me posted...lol

ironmiketyson86
1
ironmiketyson86 Oct 12, 15 8:10 PM

Awesome win %! Studying your trades now... :)

doctorgss
1
doctorgss Oct 12, 15 10:46 PM

You can do it if you put your mind to it, Charlie Munger said you don't have to try and get the explosive growth, slow and steady gets you there and prepares you for the moments of fast growth. (Paraphrasing) Great stuff to study. Thank you for posting.

AlexisReyes
1
AlexisReyes Oct 13, 15 1:03 AM

Thanks for sharing your knowledge and experience, hope to meet you next year in the Summit...

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Palmer
1
Palmer Oct 10, 15 9:55 AM

At least the price on TOS moves with the current bid/ask in your order form, IB the same. Per all three I believe that IB has more tickers to short, that is the main reason. If TOS had more shortable tickers I would be staying put. TOS does have good charts and scans so I'll be using TOS of rthose and IB as my main broker. The Level 2 in TOS is not good but ETRADE Pro has good Level 2. IB you have to pay for it but going to skip that option. Hope some of this helps my friend.

ironmiketyson86
ironmiketyson86 Oct 10, 15 10:14 AM

thanks for the useful in Palmer. right now I am using TDAmeritrade. I don't really mind the platform but I hear of a lot of people switching to IB so I figured I'd find out what all the praise was about. I haven't tried shorting yet with TD and won't until I am confident I see a pattern I like and will probably just do a small test to see if there are any shares at all... thanks for the help mate!

Palmer
2
Palmer Oct 10, 15 6:00 PM

Mike: No problem...if you can use the TOS platfrom and click on the trade tab at the top you will see if the ticker is marked as ETB for easy to borrow, HTB hard to borrow, or NTB no shares to borrow...marked in the upper right. No sure how it looks in TDAmeritrade..

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