Live Stock Trading Session 10/29/07
Oct 29th, 2007 by Tony Oz
I hope you enjoyed the session.
This was such a classic day for live trading that I couldn’t have asked for better than that. You guys got to see so much of what I was hoping to accomplish in several days in just one session. I am going to cover those things in the regular class tomorrow.
Points for me to cover:
BCSI:
Early entry = trailing stop
100 share order bounces stock.
Canceling limit buy order allowed it to tank and trigger stops.
Fib Retracement would have been the perfect entry.
MPEL:
Buyer at 16.01 showed us that there was buying interest.
Stock did not give 50% retracement, so early entry was key.
Closing a position because of potential opportunity cost – market bias.
All in all, i’m very happy with the stock picks, and the fact that you guys could see it in real time. Unfortunately, when you are up more than a point on a stock, you can’t let it go negative on you, so a trailing stop had to be placed on BCSI. MPEL, no reason to sell other than I wanted to start the day fresh all over again.
I’ve bee on my sniper watch since 11:00 and I haven’t liked a single thing. It feels like a summer day.
Remember we have a live trading session in the morning tomorrow.
Hi Tony, Thanks for a very good live demo which shown how you trade and analyze the overall market. Very helpful!
Hope sometime you’d share with us how you see the many cases and tradings in your book “The Stock Trader”, has any change incurred since then?
hey, thatnks for letting me loo over your shoulder. hearing you talk about getting into a bad position early costing you opps later is a key with me. i usually enter after the first 1/2 hour, but lately there have been some massive moves after intital gaps down – ABK twice i believe in the past week… so ive missed multi-pint moves by not entering early enough. maybe ill try a starter position with a trailing stop?
Hi Trader-12
you asked about the book “The Stock Trader” and what is different today. Tony is talking about that on the recording 09-25-07-02 at 42:10. Maybe you can find some additional information there.
Regards
Trader-14 (Henning)