Expect and and all technical analysis to be fairly accurate. Treat it as a "give or take" kinda scenario. It's very useful but not an exact science. In conclusion, treat it as a guide to find the trend but don't use it as an exact or precise entry/exit point. Use your better judgment for entries and exits.
Your trend lines look good. Remember to check multiple time frames for support and resistance levels. There was old support at $3.30/3.20 that turned into resistance. Your stock followed your trendline to a T and then hit the resistance level. Your trend lines are good, keep doing that. But make sure you cross reference your trend lines with Tim's steps of checking multiple days/weeks/months support and resistance levels. In this way you can have your complete "stakeout" of your stock executing
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Great list! I hope we don't get a morning panic, I am long at $9.06.
For you i hope the same! But dont get stubborn though.
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Not perfectly, but yes. The cup part starts with Oct 9th and ends with Nov 3rd at $3.09. The handle is the smaller dip from $3.09 11/3 to $3.09 11/6. According to your technical analysis the stock is breaking out.
thanks
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Great post, I neede that after losing $250 in one day last week!
I've been going through the same exact process recently and it has helped me so much to get back on track. One thing I've noticed is the position size is one of the biggest things related to my emotions. When I have a small position my head is clear, when I have a large position my heart is racing until I'm up. So position size is helping me with emotion fwiw
Thanks!
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Great post, I've not looked into any of these myself yet but good work on your research and prep for the week ahead. I'll have a cheeky look at them over the weekend! :-)
Thanks Luey!
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Does anyone know why when I submit a post, the lettering goes light grey and my bullet formatting get removed?
Sometimes when I copy from Word and paste here the text does not format correctly. Might be a browser function???
I just use "-" instead of bullets. I guess grey is the default color for posts.
You certainly thought this threw thoroughly. Nothing more inspiring when someone identifies there flaws early on, and rectify them. Truly disciplined, and congrats on your new family btw.
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@Arbi717 You can't really avoid it. My advice is to save up $500 more to short and focus on the best plays. I made a blog about this if you're interested http://profit.ly/user/StarSeedz/blog/tho-thos
Thanks. I appreciate the advice. Perhaps I should hang on for a few months and start with a larger sum.
I did a international money transfer, I from Australia was easy.(It took a couple of days for it to clear).
Mine just cleared and took about a week.
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Great job Ike!
$axpw looks like its hot again this morning. Gonna watch that one.
Super!
Congrats! Keep up the good works.
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@snhemminger just became a fully transparent trader today!
CONS: Very hard to fund and make withdrawals. Customer service is by far the worst out there. PROS: NO enforced PDT rule or 2.50 rule
only real pro of this broker is the fact that you can make as many trades as you want with no penalty. You also get 6 to 1 margin leverage which is obviously dangerous. Basically this broker is only good to reel in overzealous small account holders because of the perks. Just dont screw yourself with the margin just because it sounds nice. Oh yea, hard to get fundes and customer service is very slow and downright awful actually. Overall, not worth it.
Two key setbacks were executions and fees. The executions were not as good as eTrade. I would attempt to by $800 worth of stock and an error message would come up, "you do not have enough purchasing power". The fees amount to $20 per trade once you factor in the lquidity fees. There is an account inactivity fee for less than 15 trades a quarter. Tim recommends eTrade and I could see why from day 1.
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