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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Great job! =)
Thank you so much for this post. Very helpful.
Thanks everybody, I'm just trying to help anybody who needs it
What platform are these charts from?
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input!
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
Thanks for the video. I like to see what your thinking was behind every trade.
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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.
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Keep me posted...lol
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.
Thanks for sharing your knowledge and experience, hope to meet you next year in the Summit...
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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.
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!
*info
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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@ironmiketyson86 just became a fully transparent trader today!
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.
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
Yea I agree, should have waited for a pull back, then short
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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