Thursday, March 29, 2007
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Mr Doji specializes in Stock Market training by teaching individuals how to properly trade the Nasdaq,Dow,Amex,and TSX.
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4 comments:
lovin the videos. Could you explain a little more about why you enter the trade in the videos?
hi mrdoji,
you seem to give the trade a huge stop every time. is your rr 1:1? and how do you set the fibs up? i notice that zero fib varies from trade to trade, sometimes it is the days low or sometimes it is in the middle somewhere. can you please explain? great blog i love the videos
Hi Hadman,
Yes, I'll try to explain more on why I entered this trade.
1.All the markets were in the red or very close to it.
2. The $xoi was about to drop from the highs of the day, this is the leading indicator for all the oil stocks, I carefully watch the time and sales"the tape"and oih was getting very weak.
3. stochastics crossover=sell signal
4.Inside bar
5.5 period ma was moving down
6.My intuition screamed "short this stock".
Some days I have an excellent feel for the markets, just from watching,listening to what the market is saying. There are probably a hundred more reasons I could give, but these are the major ones.Hope this helps.
Hi Tradercowboy!
On this stock I did give it a rather large stop, because it has a large atr sometime between 5-10 bucks, so I have learned from the past on trades like these to use a slightly larger stop. I hate getting stopped out for a few cents just to watch the stock drop like a rock after hitting my stop.
I set the fibs up the same way trader x does, previous days low to oprning range high.Sometimes I also set the fibs to previous days low to current day high, it all depends .Sometimes setting the fibs this way gives me a better reading.Hope this explains.
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