Page 2 of 2 FirstFirst 12
Results 13 to 17 of 17

Thread: How to Improve Your Entries & Exits w/Tape Reading

  1. #13
    Join Date
    Feb 2008
    Posts
    538

    Default

    Hi - that's correct re I use time & sales, my tape reading tactics, not LII. And for all stocks, I teach how to set triggers both long and short, in-directional and "fade" entries, to capture volatile moves regardless of market direction or stock trend. The key is to spot volatile stocks that are moving (eg AAPL, RIMM, VLO etc) on the days that they're moving, and set entries that capture a part of the move -- never to forecast price direction -- we React to what the stock price is doing, not predict.

    -k

  2. #14
    Join Date
    Apr 2008
    Posts
    2

    Default

    Hi Ken, I use 2 T&S screens for the same stock. One regular and one filtered to show only trades of 400 and over. In fast moving stocks I find it helps me keep track of the momentum of blocks around breakouts. I just need to be able to see it from the corner of my eye to judge the velocity and weight of trading. If i have been looking at/trading another stock and after notice this stock is making a move, it's also good for rewinding back fast to look at the block trading at previous support/resistance without trailing though millions of 100 block sizes to see them. Mike

  3. #15
    Join Date
    Mar 2008
    Posts
    4

    Default

    Hi Ken, I remember reading somewhere on this site that you'll often observe the tape of a particular ticker (like AAPL), sometimes for as long as 20 mins, then checking the trinq, mkt conditions, etc before entering.

    Would you mind sharing what you're looking out for? Seems easy looking at how you do it in the jumpstart video, but it's actually quite challenging...or maybe I've missed out something.

  4. #16
    cyrusjohns Guest

    Default

    Hi all members,

    I usually base my entry/exit strategy by:

    Entry Point

    1. Decide which pair you are going to trade.
    2. Find out all major trends by checking the different interval forex charts. For example, 1 hour, 4 hours and daily forex charts
    3. Plot the trend lines through the high points if it is on a downwards trends and plot the low points if it is on an upwards trend. You will need at least 2 months of data to be able to plot out the trend lines
    4. Mark the support and resistance levels
    5. If the price is almost approaching the trend line you have drawn, wait for it to move through or below the line before proceeding.
    6. You might want to also check the RSI indicators to see if they give you a warning. Also make sure to check the MACD and Stochastic levels as well.
    7. Make sure for the next 2 or 3 days, there are no major data releases for the two countries’s currencies. It will cause some fluctuations in the prices.
    8. Get in and start trading but use no more than 10% of your capital
    9. Place a stop loss but do not place it so far enough that you won’t make a profit. I would suggest 100 pips as a recommended stop loss point.

    Exit Point

    1. Put a take profits limit order. Set it to between 30 to 50 pips. If possible, place it just ahead of a major support or resistance level. Also, make sure your limit order is about 15 to 20 pips away from the S/R level.

    Regards

  5. #17
    Join Date
    Feb 2008
    Posts
    538

    Default

    great post, thanks - it would be interesting to see other traders' strategies as well... it's a solid approach for active traders.
    Good trading,

    Ken Calhoun, Pres.
    http://www.TradeMastery.com
    http://www.BreakoutMastery.com
    http://www.MomentumDoubler.com
    http://www.ETFMastery.com
    http://www.ADXMastery.com
    http://www.ChartScans.com (daily alerts)
    http://www.DaytradingUniversity.com
    http://www.ForexSuccessMastery.com (w/Peter Bain)
    http://www.StockTradingSuccess.com (w/Steve Nison)
    http://www.SwingScans.com (for stock swing traders)

    p.s. per sec/cftc/ftc regs, none of this is to be construed as trading recommendations, it's just for educational use only, so you can "peek over my shoulder" to see what I'm doing with some of my trades. See www.daytradinguniversity.com/disclaim.htm for full disclaimer. Past performance is not indicative of future performance.
    These pages contain excerpts of actual trades I've made; it's not a complete record of every single trade I make. Some days I'll take trading wins or losses that I do not take the time to screencap and post online; it's a partial record of some of my trades. Note that I am not making income nor profitability claims of any kind. Most traders lose regardless of what they do. The majority of my personal income comes from my training business. I try to capture the best highlights of successful days so you can see practical examples of what I'm trading. There are also days in which I incur losses (and wins) which are not shown. This is simply a partial record showing highlights of some of my successful trading days. No representation is being made that other traders, including customers, will be able to trade like I do. Generally expected (average/typical) trader results are that all traders incur trading losses and most do not become profitable, regardless of the training they get. Commodity Futures Trading Commission (CFTC) Rule 4.41 HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. The information, services, products, claims, and materials on our sites are provided as is and without warranties of any kind, either expressed or implied. We disclaim all warranties, expressed or implied, related to strategies and content provided on this site as well as those that are presented in our products and services.Every visitor to this site, and subscriber (or prospective subscriber or customer) acknowledges and accepts the limitations of the services provided, and agrees, as a condition precedent to his/her/its access to our sites, to release and hold harmless Daytrading University, Trade Mastery, its officers, directors, owners, employees and agents from any and all liability of any kind (including but not limited to his/her viewing and/or implementation of this sites content, emails, webinars, videos, subscription to services and/or purchase of any trader training product or service herein). Trading is a speculative, high-risk activity. Trade smart.

Page 2 of 2 FirstFirst 12

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •