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Phil-n-Texas

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Everything posted by Phil-n-Texas

  1. Phil-n-Texas
    welcome! fwiw, and for me personally it was getting a handle on good risk / money management. here's a website that i've referred a lot of folks to that has a ton of free information and free e-books etc. the guy that runs the site is an excellent writer and has done a fantastic job of pulling together a lot of resources... he lays things out with some great examples. Swing Trading Guide | Learn How to Trade Stocks Like a Pro! if nothing else, i would first go to the money management section: Money Management Strategy | How to Reduce Risk and Maximize Gains another good "free" site is Alan Farley's "Hard Right Edge".... a wealth of education... but really, having good money / risk management IMO is key to survival. if one can come up with strategies that have 70 - 80% hit-rate coupled with good MM/RM, a guy can make a buck.
  2. Phil-n-Texas
    had a couple losing counter trend trades right off the bat and spent rest of day climbing back. 7 trades to end up with a net of 3 ticks. not the best day trading but could've been worse.
  3. Phil-n-Texas
    i'm a seasoned musician and early on in my development in the art i made a discovery... i.e., that self examination (listening to recorded performances) while sometimes painful was key to finding my own voice and style. every now and then i would hear something of a pleasant surprise that would register in my mind and eventually become part of my own artistic identity... figuring this out at an early age was truly a gift. the practice and discipline of self examination and review still rewards me years later. when somone can tell it's your playing on a recording or performance w/o visually seeing you do it, then you know you have your own "style". i believe the same can be applied to trading... i know some people that are very successful traders that have given me some good advice over the years but my style of trading isn't like any of theirs. and i know from talking with them on skype or whatever, that i see things in the charts that they don't and vice versa. re: systems and testing... JMO but it doesn't take a lot of fancy gizmos to make beautiful music and again i think the same goes for trading. but fwiw, i have done plenty of systems creation / experimentation and testing and if you're going to do that i would just say to back AND forward sample.... but one can really spend a lot of time energy trying to do that when maybe keeping an honest diary of your trades would reveal more about yourself as a trader. good luck, -phil
  4. Phil-n-Texas
    scalped a 3/4 pt. short on bear wedgie with triple top... probably could've road it to central pivot for a bit more... oh well.
  5. Phil-n-Texas
    daily directional filter says shorts today... no setups for moi thus far
  6. Phil-n-Texas
    i noticed a nice spike at the end of yesterdays session... checked this a.m. and it looks like we have a new high during overnight session... 1132.75 breaking previous high of 1129.50 on 6/21/10.
  7. Phil-n-Texas
    yep, da rules pretty much kept me on the side-lines last couple daze... the market is clearly winding up like a tight spring here... link to an annoted chart i did tonight on the $SPX if you're interested... BT''s Timing Board (SPX AND TIMING): $SPX daily - annotated best of luck, -phil
  8. Phil-n-Texas
    1/2 pt. scalp (short) from post lunch double top.
  9. Phil-n-Texas
    daily directional filter reading sideways with downside bias... but then there's da gap... i'm sitting on hands until i see another setup... missed the double top just after 9:00 CST...
  10. Phil-n-Texas
    ok... here's here's a list 11 of the original 12... can't remember why one dropped off. also, it's been awhile since i visited this so DD is advised. and a list of CEFs here are some related ariticles i came across... A Poor Man's CEF Portfolio That Performs -- Seeking Alpha Stocks That Pay Monthly Dividends -- Seeking Alpha i'm going to do some more digging. seems to me there's someone that compiled a scheduled payout list that was pretty informative and helped me find some of those listed above but i haven't been able to locate it yet.
  11. Phil-n-Texas
    your welcome MMS, i've had all my IRA's etc. in cash as of a.m. 5/5/10 (one day prior to flash crash) when SPX broke near term support set on 4/27/10 the day before (5/4/10)... technicals gave a signal plus i just had a feeling about it. my system for those accounts is pretty simple as i only use SDS/SSO teeter totter and have done pretty well with that. i also have some of the high dividend CEFs / Energy Trust ETF's that have done well. my goal is to eventually get a rotation of high dividend stocks and ETFs where i can draw income from monthly dividend checks just like a salary so to speak... i've got a spread sheet around here somewhere that has it worked out where i can get a check every month based on dividend payout schedule of about 12 high yield stocks and etfs. as for trend analysis, i use the same principles for intraday or longer term... i.e., daily, weekly, monthly timeframes and use a fixed risk allocation money management method that calculates the amount of trading capital to trade based on volatility and risk / reward. additionally, even when scalping the e-mini's i still zoom out when i'm doing my morning prep to look at the bigger picture setups which can tell a lot about the overall bias for the day. anyway, i really enjoy the posts here... lots of good information and exchange of ideas. i see you're the admin here so want to say thanks for all you do here.:applaud: regards, -phil
  12. Phil-n-Texas
    did you get any of that? btw, do you happen to know how the time stamps work on this board? i.e., are the time stamps on posts user time zone or EST??? also, is the time stamp for when you submit the post or when it is approved by the moderator. Just wondering since it would help find entries and exit times per your posts. thx, -phil
  13. Phil-n-Texas
    3 trades today for 2.5 pts... missed a few good ops for sure.
  14. Phil-n-Texas
    bam! hit target right after the last post for 4.25 pts plus 2 pts. from 10:00 move so i'm done today with 6.25 pts.
  15. Phil-n-Texas
    almost there...
  16. Phil-n-Texas
    daily directional filter(DDF) is 1110 and says sideways with downward bias... R2 pivot (1108.92) has provided resistance 2 x's so far and we just pierced 1107 short term support as i'm typing... R1 pivot is 1104 and LOD is 1105. My target on current trade is 1104.25 from 1108.50 entry (short). moving SL to break-even.
  17. Phil-n-Texas
    MMS, first time poster here so here it goes... my analysis is pretty simple and is based on market flow analysis of swing highs and lows. looking at the $SPX, i view that we're still in a down trend when we broke support from 2/5/10 on 5/25/10 as we haven't made a new high since then. we came close in early August but fell short of breaking the 6/21/10 active high. yes it's more of a sideways range, but based on swing highs and lows my call is we're still in a down trend. we currently have a the higher low of late August and closed above the central monthly pivot and R1 is sitting right at 1134 which is just above 6/21 and August highs. if we maintain the August higher low and have a close above 6/21 high then the trend is up. i tried to attach a basic chart... i extended the resistance line from 6/21 to the right to better illustrate that the August highs didn't take out the active high. also, here's a link to another post i did on the subject that points out some potential areas of resistance and or targets should we continue the move up. DJIA - Dow Jones Industrial Average BIG BOARD! (DOWI:DJI): $SPX charts... specifically i'm keeping an eye on the two upper longer term TL's... i.e. the one that extends from April '10 high to August '10 high which we're testing now and then there's one that extends from 2007 high to the same April '10 high. -phil
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