After removing myself for several weeks, I am still surprised that I get no less than 30 e-mails daily on questions that are most likely answered in one of my past articles. As you may know, I will simply ignore people that don’t take the time to search for the answer. I’m busy as fuck, so don’t get mad if I don’t answer you.
If you have questions regarding my performance, wondering if people make money off my calls, or if you’re an idiot that is deciding whether or not to attack me, you may want to read this first: http://ibankcoin.com/chart_addict/2009/08/20/important-matters-to-discuss-real-time-profitable-calls-sf-ms-real-3rd-party-auditing-michael-stokes-epic-failure-etc/
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If you are interested in the psychology aspect of trading:
1) The Trader’s Mindset & Common Psychological Issues: http://ibankcoin.com/chart_addict/2009/03/15/the-traders-mindset-common-psychological-issues/
2) 20 Trading Plan Questions & 20 Trading Rules: http://ibankcoin.com/chart_addict/2009/03/20/20-trading-plan-s-20-trading-rules/
3) We Are all Farmers: http://ibankcoin.com/chart_addict/2009/04/18/we-are-all-farmers/
4) A Lesson on Fear: http://ibankcoin.com/chart_addict/2009/07/02/a-lesson-on-fear/
5) A Lesson on Attitude: http://ibankcoin.com/chart_addict/2009/09/20/a-lesson-on-attitude/
6) A Lesson on Decision Making: http://ibankcoin.com/chart_addict/2009/09/30/a-lesson-on-decision-making/
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Q&A’s with Me:
1) Q&A #1: http://ibankcoin.com/chart_addict/2009/05/30/q-a-with-ca/
2) Q&A #2: http://ibankcoin.com/chart_addict/2009/06/08/q-a-with-ca-2/
3) Q&A #3: http://ibankcoin.com/chart_addict/2009/06/15/q-a-with-ca-3-final/
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If you are interested in technical education articles:
1) 7 Common Long Breakout Patterns: http://ibankcoin.com/chart_addict/2009/05/11/7-common-breakout-patterns-educational/
2) Blank Box Trading: http://ibankcoin.com/chart_addict/2009/05/25/blank-box%e2%84%a2-trading-a-self-developed-daily-preparedness-strategy/
3) 7 Common Short Setup Patterns: http://ibankcoin.com/chart_addict/2009/06/21/how-to-guide-on-technical-short-selling-7-common-setups-24-real-time-setups/
4) Sequential Breakouts: http://ibankcoin.com/chart_addict/2009/08/25/sequential-breakout-trading-in-biotech-stocks/
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Finally, I haven’t done a “Q&A with CA” session in a long time now that I realized it. The way it works is you write down a question here and I answer it (or not). Easy, huh?
Also, if you’re gonna be in NYC this weekend, say so. I’ll be up there.
If you enjoy the content at iBankCoin, please follow us on Twitter
CA,
Which do you prefer and use, log or arithmic charts and can you kindly give your thoughts
you hate beer? that’s extremely fucked up.
Who hates beer!?
IT’LL GET YOU DRUNK! YOU’LL BE FUCKING FAT GIRLS IN NO TIME!
MMMMMM…MMMMM…BITCH!
NO I CAN’T STOP YELLING, CAUSE THAT’S HOW I TALK! HAVEN’T YOU SEEN MY MOVIES?!?!
A question that I did not see within your educational sections regards the use of Bollinger Bands within your swing trades. I might have missed it though.
You do mention that lower volatility precedes higher volatility referencing the contraction of Bollinger Bands to a narrow range and then expanding.
Question: when using Bollinger Bands what do you look for?
1. Expanding Bollinger Band after expanding past a narrow range? (3 month low?)
2. Entering when the Bollinger difference is at a narrow range before a breakout?
3. Use of Bollinger Bands along with MAs?: IE Close is above the MA20 and Bollinger Band was still contracting etc.
Hey CA,
I was wondering if you have alerts that you set up for the stock you are watching? If you do, are they price alerts or volume alerts?
thanks!
Do you use a pyramiding (scaling in) strategy ever, or just buy in and scale out. If so, how do you decide which to do (sell or buy more). What are warning signs to get out (as your profit is increasing?) I assume most revolves around what is happening as the stock moves towards resistance / support. Besides volume can you elaborate on what you look for? Specific favorite patterns?
I would add the basic technical and candle pattern posts from way back when with WSS. I tried tracking them down back through your blog and could find the text but it seems the diagrams have disappeared. I would love to have those as reference, I’m sure others feel the same.
Any plans on coming to west coast anytime soon?
CA, Looking forward seeing you on StgockTwits TV “Charts Gone Wild” . I believe its next Tuesday night at 10:00 PM ET. I believe I read that correct on Twitter several days ago. Please confirm.
out my ES hedge before jobs report (that’s why I said I would not hold through the report). 1024 -2 points
still 2 contracts in the CL (oil) short from 70.37 – target in the low 68’s – now 69.10
Euro does NOT want to give up 1.4500 – it has to stay solidly below or I will reduce my target
Also, 1) you mentioned in a previous Q&A that when there is a consolidation (triangle/flag) you often will buy/sell before the breakout/breakdown. What are some of your indicators to let you know which way it will go?
2) you also multiple times said you are a swing trader, although from this blog I was under the impression you did mostly daytrading, have you changed or do you do both?
To make my 2nd question more clear, How long are you usually in your trades? Minutes, Hours, Days, weeks? or all of the above.
Long SVA at 7.21 …50% retrace from May low to recent high, 50 day SMA , trendline support.
Fuck yeah.
Covered 2nd half CL (oil) short 68.37 +200 ticks ($4000)
1st half went at +137 ticks ($2740)
$6740 total – done for the week
I ended up flat on all my hedges (Euro long that paid off, ES long that paid off, and an ES long that lost)
Currencies and bonds are ignoring this selloff – they are usually smarter than the pre-market futures traders…
Nice trading retox!
Bought ETRM @ 1.03… sold half @ 1.21
Into /6E since .xx59; flags on the 5, 10, 20 min charts
Well done retox =o
Might sell depending on the action at the 20 day MA (1.4624)
flag on 1m, holding until it breaks and we get closer to 20 day
Through the 20, now approaching the 10 (1.4657), stop adjusted to 1.624 (20 day)
Sold 1.4618 +69 pips
Might use this dip to enter another trade if we can hang up around the .xx10s
Very nice Mike.
Fed member comments this morning saying “the pain is not over, typical mistake is to tighten too early, we won’t do that this time…” that along with solid support at 1.4500 sparked a nice rally in the Euro & Yen. We’ll see if it holds.
I was in my oil short sweating the currencies knowing I might not have much chance to cover.
Congrats retox. Isn’t CL $10 per tick though?
yes, 4 contracts total (2 for each half)
CL down a percent while USO down half as much
Don’t they use forwards along with the spot price an they mix in some other contracts and cash?
What do you use to spot stocks that are spiking hard on big volume itnraday; in other words, how is that you find stocks that BTFO very early, right when the volume is coming in
As long as the Euro holds this area (consolidates above or very close to 1.4617) the market should be okay.
If you like a good conspiracy, the Fed made the announcement right before the employment number. PPT?
short fsys
oops, was going to say to you that oil and dollar relationship appear to be off again today
exactly why I covered my short while I watched the dollar sell off and I’m not taking anyhing but scalps for the day.
Sold other half ETRM @ 1.16 (bought @ 1.03)
Long ACLS – look for BO > 1.29
And she’s off…
Stop at 1.28 (entry price) – plan to hold over weekend.
Olympics will be in Rio
ha.
ES question…who do you use to trade thru, and how would you rate them..thanks
thinkorswim
They are okay – I’ve had issues where their charts go down – happens more when market volume gets really hot so not so much lately. They’ve had chart issues twice this week for a minute or so but I’d say it averages 1 or 2 times a month.
They have backup charts (prophet charts) but you can’t get quotes on futures through prophet.
The platform is good otherwise and their fees are good – if you will make a few futures trades a week it won’t hurt to ask for lower commission. You can download the software and try it free.
cool thanks…seems like all the firms platforms turn to shit during high activity periods…strange huh..i have traded stocks for 20 years..no experience with the ES..yet…
SPX in an asc tri on the day – 1 min chart – getting in ES 1022.75 – stop just below the lower trend line
1.4617 (from earlier post) is still the magic number for the Euro – we keep testing it – a break should move oil and the SPX
out half of the ES long at 1025.5
+2.75
will add again at the lower trend line or will sell the rest TBD if we break the asc tri upper trend line
stopped out 2nd half 1023.25
+.5
broke the bottom of the asc tri and Euro looked bad
TLT set up short
Stupid reasoning for this one but I want some danger over the weekend.
We have not seen 5 down days in a row in the SPX since the rally started. We are now on our 4th down day and we are ending a pretty ugly week.
I think the markets will catch a bid on Monday as traders forget the bad news next week.
Going long into the close for a swing with a mix of crude oil, ES, and Euros.
ES 1022
CL 69.66
6E 1.4582
if there is a selloff at the close, even better, I’ll add to the position
ES added 1019 – avg 1020.5
6E added 1.4566 avg 1.4572
ES target 1032
CL target 70.69
6E target 1.4644
sold half ES 1022 +1.5 points
sold half 6E 1.4577 + 5 pips
wanted to cut the position size only after I averaged down
A gnadly move on CL. Be aware that the press may report this weekend on progress re nuke inspections in Iran.
My balls might end up under a big dirty boot on this trade. I cut half of the ES and Euro position after I averaged down so I could better manage the trade on Monday If I need to. When the market gets boring like this, I get more patient and start accepting longer trades.
My crude oil long should cover me on any Iran issues but I think they are going to play nice for now anyway.
I’m saying that they may report results on Iran talks that exceed the low expectations.