Yesterday I was on the wrong side of the trade when the
iPhone rumour hit the street. Today I was on the right side of the trade when the real news came out. This was a low risk narrow B&B setup with convergence of the
MAs just under price. I used a buy stop order, set my stop and went to make a cup of coffee. By the time I came back, my target was surpassed so I took a partial. I read the news and sat back to see if
AAPL could take out its all time high. Maybe tomorrow!
Yesterday
CROX gapped up but faded. I really like the daily chart for
CROX and when I saw the narrow afternoon base, I put
CROX at the top of my watch list for today. I took a partial after 1 pt. because this was a pivot point area. I exited the balance on weakness going into lunch.
COP showed up on one of my
IB pre-market filters along with
TOT. COP had a nice base and break pattern on both the daily and
intraday timeframes. This is a perfect example of a
Highchartpatterns.com setup. I won't be surprised if they took this trade today as well.
Yesterday I was on the wrong side of the trade when the iPhone rumour hit the street. Today I was on the right side of the trade when the real news came out. This was a low risk narrow B&B setup with convergence of the MAs just under price. I used a buy stop order, set my stop and went to make a cup of coffee. By the time I came back, my target was surpassed so I took a partial. I read the news and sat back to see if AAPL could take out its all time high. Maybe tomorrow!
Yesterday CROX gapped up but faded. I really like the daily chart for CROX and when I saw the narrow afternoon base, I put CROX at the top of my watch list for today. I took a partial after 1 pt. because this was a pivot point area. I exited the balance on weakness going into lunch.
COP showed up on one of my IB pre-market filters along with TOT. COP had a nice base and break pattern on both the daily and intraday timeframes. This is a perfect example of a Highchartpatterns.com setup. I won't be surprised if they took this trade today as well.
12 comments:
Hi Jamie,
Nice trades. Would you be willing to share how you set up your IB scanners/filters for the pre-market.
Thanks,
Andy
Great trade in that CROX. Similarly, I was looking at FLR today that was basing from yesterday, however it never broke out. Hopefully it will have some movement tomorrow. As always thanks for the great info.
Thanks guys,
The IB scans I use in pre-market are: hot contracts by volume, top trade count, top volume rate, Top % Gainers/Losers. Most of these are filtered to capture stocks over $10 with min. volume 100k.
Basically, I'm looking for active pre-market stocks which have good charts - either a good base - or a gapper that was not picked up through other sources such as briefing.com.
Hi Jamie,
How come a buy wasn't entered on either of the two previous candles before the actually entry, since they both broke out of the base (and then pulled back)?
ADD Trader
on CROX...I meant!
ADD Trader
Add Trader, simple, all of these trades are hindsight trades.LOL
DMan
ADD,
I don't often trade the open. I use 5 minute charts to pick my exact entry point, so if you drill down you will see how the CROX trade was executed.
Anon,
What kind of name is DMan? In your dreams, maybe your d man, but not in real life. You're obviously a loser looking for someone to hold your hand and show you how to trade winners. I'm sorry that you feel it is necessary to repeatedly put me down in order to make yourself feel better. Just because you're stupid and don't get it, doesn't mean everyone else is like you. How arrogant is that?
I notice you visit my blog daily from Lambeth, London. You're the only one from there, so you're easy to spot. You spend a lot of time here reading about hindsight trades. Why waste your time? You're not welcome here, so don't bother coming back.
I don't want to see demon.co.uk from Lambeth, London in my sitemeter stats ever again. Get it?
I liked the AAPL setup. I don't trade them often but they can make nice explosive moves.
I did catch a reversal play today (5/18) with SEPR 15M/14B high. Down volume dried up so I jumped in on the 14B doji/hammer and exited @ the FIB 50% retrace.
NVTL was my only catch of the day (5/17) 15M/2B high. Nice heavy volume with a solid break of the ORH.
I know many traders pass on trading Options/X days and Beige book 2:15pm setups but I find no difference trading those days to any other. Trades workout just the same as any other day in my experience. (NOTE: Large Cap stocks will get pinned on Options/X days so I am excluding those in my comment.)
What's been your experience Jamie?
JR,
Agreed if you stick to trading gappers, the effects of Options X and FOMC are minimal. Still I always exit all of my trades before FOMC policy is announced as I have seen some pretty wild swings in the past.
On non gapper trades, I find Options X to be a big bore. Stocks tend to move in the first and last hour of the day, but the rest can be narrow range.
Nice work on the SEPR reversal.
jamie... just read these comments based on your last post (from 5/19). You totally owned anon... nice work.
Thanks ooNR7,
Appreciate support from another blogger!
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