Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » General Investing Topics » stock brokers (Page 2)

 - UBBFriend: Email this page to someone!   This topic comprises 2 pages: 1  2   
Author Topic: stock brokers
Machiavelli
Member


Rate Member
Icon 1 posted      Profile for Machiavelli     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by chuck9:
On the other hand, one cannot buy into a position and hold overnight and sell the next day. This is coming from Ameritrade.

I think I will change brokers.
chuck  -

[Eek!] [Confused] never heard of any such thing... there are daytraders who occassionally swing or position trade... btw go with Choicetrade.com [Wink]

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Machiavelli:
quote:
Originally posted by chuck9:
On the other hand, one cannot buy into a position and hold overnight and sell the next day. This is coming from Ameritrade.

I think I will change brokers.
chuck  -

[Eek!] [Confused] never heard of any such thing... there are daytraders who occassionally swing or position trade... btw go with Choicetrade.com [Wink]
Good Morning Mach...the reason you never heard of such a thing...is there isn't such a thing!

What is boggling my mind is...Chuck9's post contradict themselfs completely...he said on other threads that he's has been trading for years, but he just came to allstocks because the other board(????which hasn't been specified) [Confused] that he used to post on, didn't trade his style...which he call's "hit and run trading" .... [Big Grin] Ha Ha Ha....which is realy just called daytrading...And he can't find others that participate in this style..."Rare" style...LoL...evyerone is a daytrader unless they are a Fortune or Money magazine subscriber LoL...

If someone has been trading for years, they know the basic terminology and basic S.E.C. rules...you don't have to be an expert, but you will know the basics!

Read his previous posts...He missuses the term "pull back" constantly!

Since I been at allstocks I only had problems with a few people....Purl girl, River Rat, and now....well I'll just leave it at that....and my only issue with them has been honesty with others and themselfs!

I think we have a poser on our hands....mabey a 15 year old with metastock software! [Big Grin]

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
chuck9
Member


Rate Member
Icon 1 posted      Profile for chuck9     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ace, Merry Christmas to you and all of your family. Hope you have a good Christmas and a safe holiday.
See you, when the market opens.

Also a Merry Christmas to all of the other members on this board.
chuck  -

Posts: 330 | Registered: Nov 2007  |  IP: Logged | Report this post to a Moderator
chuck9
Member


Rate Member
Icon 1 posted      Profile for chuck9     Send New Private Message       Edit/Delete Post   Reply With Quote 
Machiavelli, thanks for the information, will check them out.
What type of trading, do you do? Basically all I do is hit and run trading. If you ever look at my posts on the big Board under Chuck's big Board picks.
They are all or basically all gap to the downside for a hit-and-run short position,just in and out,

IF you lack I will post the charts so you can see what I am doing. I do most of all my trading on a five minute chart.
chuck  -

Posts: 330 | Registered: Nov 2007  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Ace of Spades:
prodigy trading let's you daytrade with only $2500 to start!

They give you 4x buying power to daytrade also for big board stocks..meaning nasdaq, amex, and NYSE!

http://www.prodigytrading.com/

I have an account with them and they are great!

any broker or finanical firm/institution that is an LLC doesn't apply to the SEC daytrading rule, cause you are considered part of a group, so the whole group obiously meets the $25k minimum.

Prop firms also are LLC's so they can get around SEC rules to! Some give their clients 10x intraday margin istead of 4x that most brokers do.

But to some things up, I recomend prodigytrading! No daytrade restrictions, and they don't restrict penny stocks like scottade and other brokers!

It's a branch of Grossman trading

http://grossmantrading.com/index.html

but the broker that lets you daytrade with only $2500 is prodigy!

http://www.prodigytrading.com/

ACE,

I want to start an account with these guys...

How did you start you account--over the phone?

Where do you log in?

-wdcisco

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
quote:
Originally posted by wdcisco:
quote:
Originally posted by Ace of Spades:
prodigy trading let's you daytrade with only $2500 to start!

They give you 4x buying power to daytrade also for big board stocks..meaning nasdaq, amex, and NYSE!

http://www.prodigytrading.com/

I have an account with them and they are great!

any broker or finanical firm/institution that is an LLC doesn't apply to the SEC daytrading rule, cause you are considered part of a group, so the whole group obiously meets the $25k minimum.

Prop firms also are LLC's so they can get around SEC rules to! Some give their clients 10x intraday margin istead of 4x that most brokers do.

But to some things up, I recomend prodigytrading! No daytrade restrictions, and they don't restrict penny stocks like scottade and other brokers!

It's a branch of Grossman trading

http://grossmantrading.com/index.html

but the broker that lets you daytrade with only $2500 is prodigy!

http://www.prodigytrading.com/

ACE,

I want to start an account with these guys...

How did you start you account--over the phone?

Where do you log in?

-wdcisco

You call...keith answers the phone.....he answers any question you have and gives the instrucitons....and that's pretty much it! LoL

Keith pretty much runs the whole show! It's a penson broker which is great!

Basicly what happens is he emails you the forms, you print them out...fill them out...fax them over, and you're good to go!

You download omnipro trading platform...and he gives you the login info to omnipro and your penson account!

If I didn't have an account with prodigy myself, and love them....I wouldn't have ever posted about it...good luck

Also some adivce....pay the money for the best package at stockcharts.com for advanced realtime charting...I watch the 60 minute charts over a 1-2 month perioud for my favorite big board stocks....and flip them like there's no tommorow...

right now my list is...CSIQ , CSUN, LDK,
TNH, MOS, MON, and of course the safest ones are FSLR, AAPL and GOOG ...the charts don't lie with good stocks....and they all move with the dow($INDU/QLD)..this is how you will bank big money in 2008, by being smart! also...check the 60 min chart on a tad bit riskier plays like CPSL, ASTI, DSTI, PEIX...The charts don't lie!!!

It's like stealing candy from a baby....when ever the RSI or STOCHASTICS are over sold, or MACD crosses on the 60 minute chart at stockcharts.....snatch any of these up and you will back big money in a few days.

You could use a daily chart or 5 min chart....but in my opion...to make the most profit in the most logical period of time....going by the 60 minut chart is what you want to do!!! CSIQ, CSUN, TNH, MON, and MOS have been making the biggest and most predictable gains for me...A Few TIMES a month...I've been makiing over 50% on my entire portfolio the last 3 months doing this! Using margin of course, but the charts don't lie, so I'm not takng a risk in my opinion. Volatile markets...means more chances to flip stocks by reading a 60 minute chart over 1-2 month periods IMO.

and if you look at the 60 min chart on FRPT, CC, FMT, ....Or any stock that is making 52 week lows...the 60 minute chart can acuratelty get you in and out to make quick money.....

eveyone has their own style and system...but this has been working for me!!!

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
WOW! Awesome~! [Eek!] Thanks Ace! I can always count on you for a full explanation [Wink]

I will try to call this keith guy wednesday or thursday...

I forgot where I read it...but you said you worked at a call center...

What is the company?

Merry Christmas!

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
quote:
Originally posted by wdcisco:
WOW! Awesome~! [Eek!] Thanks Ace! I can always count on you for a full explanation [Wink]

I will try to call this keith guy wednesday or thursday...

I forgot where I read it...but you said you worked at a call center...

What is the company?

Merry Christmas!

Time Customer service....handle all magaizines by time inc, national geo, a few other publishers
Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
Cool..sounds interesting...!!

I'll let you know when I get my prodigy account started [Wink]

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Jason0352
Member


Rate Member
Icon 1 posted      Profile for Jason0352     Send New Private Message       Edit/Delete Post   Reply With Quote 
ACE, awsome breakdown of your trading style man, real enlightening. You say you use margin for the big board stocks. Approx how much would you leverage for these big boards to realise a descent amount of profit? Margin scares me as I have been trading for the past year with a Choicetrade cash account. But I think one of my new years resolutions will be to switch to Prodigy Trading.
Posts: 249 | From: PA | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ace,

On question--since you already have an account with prodigy...

Do they charge you anything extra for the 4x margin?

Thanks bro!

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Jason0352:
ACE, awsome breakdown of your trading style man, real enlightening. You say you use margin for the big board stocks. Approx how much would you leverage for these big boards to realise a descent amount of profit? Margin scares me as I have been trading for the past year with a Choicetrade cash account. But I think one of my new years resolutions will be to switch to Prodigy Trading.

Well overnight, you get 2x buying power. So if you have 10k, you can buy 20k worth of stocks to hold overnight! If a stock goes up 10% you would make 2k off of 20k, instead of just 1k off of 10k. Same goes with the losses.

It's realy not that risky if you buy the best, safest, and most predictable stocks...when they are oversold. Which I just use the basics, like stochastics close to or under 20 and RSI close to or under 30. Also I wait for the MACD to cross. If I use Margin I use the safe stocks to make consistant good gains! AAPL and GOOG are awesome. I'll post some charts! My advice would be to trade AAPL...It has been a 20 bagger since the IPOD came out...and it's still a baby...It's gonna make huge moves the next few years! Now if you can always sell close to the high and buy close to the low...you can make 1000's of percent gains...here's some charts to show how easy it is....This is a 60 minute chart..so each candle is 60 minutes...which is more precise than a daily for swing trading IMO! I cirlced when the MACD crossed signaling a buy, and circled when stochastics were around or under 20, which is when you should watch, and wait for the MACD to cross! I didn't circle the sell signals, but that would have been when the RSI was over 70 or when the MACD lines crossed down...meaning the green crossed under the red!

And the amazing thing is this is this chart is just over 1 month...In one month you could have made those great trades! If you compound those gains and multiply that by 12....you can be rich! If the markets get shakey...that just means more buy and sell opportuities...just read the charts! For 60 or 30 minute charts you have to pay at stockcharts, but it pays for itself!

 -

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
T e x
Member


Icon 1 posted      Profile for T e x     Send New Private Message       Edit/Delete Post   Reply With Quote 
calm down...

lol, have some egg nog

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
Stupid
Member


Icon 1 posted      Profile for Stupid     Send New Private Message       Edit/Delete Post   Reply With Quote 
And I see I am not the only one up this time of day researching stocks and reading this board.

--------------------
DDDDD

Posts: 397 | From: Florida | Registered: Nov 2007  |  IP: Logged | Report this post to a Moderator
PCola77
Member


Member Rated:
4
Icon 1 posted      Profile for PCola77     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ace, what do you mean by Apple is just a baby?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
PCola77
Member


Member Rated:
4
Icon 1 posted      Profile for PCola77     Send New Private Message       Edit/Delete Post   Reply With Quote 
Also Ace, looking at your chart and reading your post, you say "Which I just use the basics, like stochastics close to or under 20 and RSI close to or under 30. Also I wait for the MACD to cross."

I don't see any places on your chart where the 3 all occur.

the first point where you have circled MACD and Stochs, by the time the MACDs cross, the Stochs are at like 80.

The second circle on the stochs occurs when the RSI is at about 50, as are the stochs.

The third circle, the MACDs don't cross until the stochs are over 80.

And the fourth circle is similar, in taht the MACDs don't cross until the stochs look to be above 50.

Did you actaully trade any of these, or were you recently looking at it restrospectively? If it's retrospective, I think you may be inadvertantly biasing yourself to look for patterns in times right before it goes up that aren't really there.

Not trying to be a jerk, it happens to the best.

Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
quote:
Originally posted by PCola77:
Also Ace, looking at your chart and reading your post, you say "Which I just use the basics, like stochastics close to or under 20 and RSI close to or under 30. Also I wait for the MACD to cross."

I don't see any places on your chart where the 3 all occur.

the first point where you have circled MACD and Stochs, by the time the MACDs cross, the Stochs are at like 80.

The second circle on the stochs occurs when the RSI is at about 50, as are the stochs.

The third circle, the MACDs don't cross until the stochs are over 80.

And the fourth circle is similar, in taht the MACDs don't cross until the stochs look to be above 50.

Did you actaully trade any of these, or were you recently looking at it restrospectively? If it's retrospective, I think you may be inadvertantly biasing yourself to look for patterns in times right before it goes up that aren't really there.

Not trying to be a jerk, it happens to the best.

Patterns that aren't realy there.....LoL..yeah ok! That's funny!

What's also funny when you say the RSI was "LIKE" 80 [Big Grin] ....it either was or wasn't [Wink] ....and it wasn't 80 at the time, LoL... [Big Grin]

When ever stocks like AAPL or GOOG's MACD crossover or stochastics ave under 20....It's obvious what's gonna happen. [Cool]

And on the third one...it doesn't matter if the stochs were over 80 when the macd crossed...cause it stayed over 80 for days...that happens all the time with AAPL and GOOG, cause they always get tons of buying...that proves the macd signal was correct!

put some glasses on and re-read the chart

And even when the stochastics are over sold or over bought on aaple or google...that's just when you start looking for the MACD crossover....Sometimes the stochastics can be oversold or over bought for days when institutions are buying and selling... [Wink] That's why I love MACD the best!

I'm not sure what chart you were looking at, but those signals are crystal clear to me!!!

Here this might help you....

http://youtube.com/watch?v=OR8vwFv-5iU

http://youtube.com/watch?v=Hz4tuWGQqfo&feature=related

http://youtube.com/watch?v=4ybk72R9_90

http://youtube.com/watch?v=k9nds4OpA2I

http://youtube.com/watch?v=XCcg7a1XR2E&feature=related

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
PCola77...Hey!

I just wanted to appolagize to you...after reading my post, I don't like they way I came off! Especialy since you are one of the posters at allstocks I have a lot of respect for.

To be honest, I naturaly have a deffensive/stubborn personality, so sometimes I react the wrong way....so I appolagize!

But you did give me an idea to start a thread over here...I'm starting a thread to post T.A. videos for newbies and who ever is intersted...check back later!

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
BooDog
Member


Icon 1 posted      Profile for BooDog     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Ace of Spades:
PCola77...Hey!


But you did give me an idea to start a thread over here...I'm starting a thread to post T.A. videos for newbies and who ever is intersted...check back later!

Great idea Ace.
Posts: 7754 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
PCola77
Member


Member Rated:
4
Icon 1 posted      Profile for PCola77     Send New Private Message       Edit/Delete Post   Reply With Quote 
LOL, glad you apologized, I was gonna lay the smack down [Razz]

No, but really, I looked at only the chart that you posted, and still maintain my stance. When you say "like stochastics close to or under 20 and RSI close to or under 30. Also I wait for the MACD to cross" and there are no points that I see in which all three occur simultaneously, it makes your post confusing. When you're posting about something that you do, in addition to describing it, and it's not easy to follow, it's not a good post, in my opinion.

Seriously, if you want to be helpful, re-read your post, with the chart in front of you, and either find where your three qualifications all intersect, or re-word your post to say what you actually mean.

You obviously know what you mean, but that doesn't hlp people that are trying to follow it.

Make sense?

Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
The stochastics look like they are the most reliable--for performance stocks like aaple, goog etc...

Just my opinion-- [Wink]

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
PCola77
Member


Member Rated:
4
Icon 1 posted      Profile for PCola77     Send New Private Message       Edit/Delete Post   Reply With Quote 
by the way Ace, your "I'm not sure what chart you were looking at, but those signals are crystal clear to me!!!" is exactly my point. if you're trying to help people who they aren't "crystal clear" to, then i don't think you did a very good job. And if your intent was not to help explain anythign, then what was the point?

The reason I say this is because I have yet to find someone who reads charts that can give me a set system that they use that doesn't involve judgement that actually can be proven to make money.

I created a database to backtest rules, and have yet to find one that would consistently have made money over the long haul. I don't doubt that there are people that can do well reading charts, but my theory is that people that can do so have more "guidelines" than "rules" when looking at charts.

Like someone can't say "I buy when X, Y, and Z happen, and sell when A, B, and C happen" and make money over time, but there are undoubtedly people who can say "I look at some of the followign things, and then have a gut feeling about what to do." there is no way to test that, so honestly, it doesn't interest me.

I'm looking for ways that are easily documentable, and can be implemented systematically, vs individually using personal judgement.

So whenever someone puts out a "system" taht they use, and say flat out "I look for x, y, and z" I first try to make sure that they are saying exactly what they mean, and second, I test it, and see if they are correct taht it tends to work more often then it doesn't.

Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
chuck9
Member


Rate Member
Icon 1 posted      Profile for chuck9     Send New Private Message       Edit/Delete Post   Reply With Quote 
PC, I agree with you, there are just too many variables for a stand-alone system to be that accurate.

Back testing,what type of software do you have that you use for back testing?

chuck  -

Posts: 330 | Registered: Nov 2007  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
PCOLA and chuck 9....you raise good points

On that chart I wasn't circling precise entry points, I was just showing what I meant by being oversold in general

If you read the post I made before the one with the chart...my main emphesis was on that I use the 60 minute charts for swing trading.

But you can bring up any one month period in 2007 for google and apple...and pretty much every time the MACD crossed after a nice dip on the 60 minute chart...it went up nicely...you can do that a few times a month. That on chart I posted for apple in the month of December is proof of that!

Also if you look at the Dow chart, you will notice that the dow started it's rally on dec 18th and so did all the main stocks....the 60 minute chart And following the DOW was my main emphesis, for making a fewe solid trades a month, on AAPL and GOOG! It wasn't to circle precise entry points!

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
PCola77
Member


Member Rated:
4
Icon 1 posted      Profile for PCola77     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ace, is there really a 30 trade per month minimum at Prodigy, and you have to sign a 2-year contract? Damn, that's close to $6,000 in fees for two years. Seems a bit out of control considering your favorite thing about them was being able to daytrade with only $2500. Fees would be 120% of initial capital, if that were true. I'm guessing that there's a mix-up somewhere, but it's a pretty important issue to get straightened out, IMO.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
You don't have to stay with them for two years...call keith and ask him? Also you dont have to do that many trades per month. thats just if you want to software fee waived which is $100 for omni pro! And if you don't make the minimum number of trades a month, they are lenient! Don't I didn't make that many trades the first few months, but I was never charged. But if you do one round trip a day you will make it any way!

But with other brokers restricting trades on penny stocks, and not being able to trade when you want....prodigy more than pays for itself....so many new traders make bad trades cause they have to think about round trips, and settled funds!

Keith can answer all these questions....isn't that normaly would you do...call your broker about these questions?

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
Yeah..I'll call him again tomorrow...

Thanks.

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Ace of Spades
Member


Rate Member
Icon 1 posted      Profile for Ace of Spades         Edit/Delete Post   Reply With Quote 
quote:
Originally posted by wdcisco:
Yeah..I'll call him again tomorrow...

Thanks.

Do you ever get the feeling of deja vu [Confused]

We are having the same conversation in two threads...LoL [Big Grin]

Posts: 2321 | Registered: Aug 2006  |  IP: Logged | Report this post to a Moderator
classified
Member


Icon 1 posted      Profile for classified     Send New Private Message       Edit/Delete Post   Reply With Quote 
LOL...yeah...

g'nite!

Posts: 1075 | From: weeeeeeee | Registered: Sep 2007  |  IP: Logged | Report this post to a Moderator
Machiavelli
Member


Rate Member
Icon 1 posted      Profile for Machiavelli     Send New Private Message       Edit/Delete Post   Reply With Quote 
i rather stick to choicetrade and as for indicators i really only need one as Jo can attest to this about my trades or searches for stocks... the RSI... I don't see the RSI as a overbought/oversold oscillator/indicator... instead i see it strictly in terms of Support/Resistance lines... if a stock is above RSI 50 then i see the 50 line as Support and the 80 line as Resistance... if a stock is below the 50 line then i see the 50 line as Resistance and the 20 line as Support...

So the way I trade is i want to buy at the bottom then i wait for a stock to bounce off the 50 line if it is above the 50 line to begin with and is in decline... you can also do this with the 20 line... in these 2 cases you would go Long...

If you want to short stocks then you do the opposite... you wait for it to bounce off the 80 line if above the RSI 50 and if it's below the 50 line... then you wait for it to bounce off the 50 line... hope im being clear without visual charts... Sometimes flukes happen like when a stock goes lower then RSI 20 or above RSI 80... but for the most part i wait for those "bounces"... if the "bounces" do not occur I do not buy because then the 20,50, and 80 lines become the opposite of what they were... From Support they become Resistance and from Resistance they become Support... etc... any other indicators that I use just supplement the RSI but otherwise i pay more attention to the RSI then anything else... the other ones that i use are:

1. Volume
2. MA's
3. MACD (my least favorite)
4. Candlesticks

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
chuck9
Member


Rate Member
Icon 1 posted      Profile for chuck9     Send New Private Message       Edit/Delete Post   Reply With Quote 
Mach, what type of trading, do you do? Are you a swing trader, hit-and-run trader, long-term or possibly a gap trader?
chuck  -

Posts: 330 | Registered: Nov 2007  |  IP: Logged | Report this post to a Moderator
Machiavelli
Member


Rate Member
Icon 1 posted      Profile for Machiavelli     Send New Private Message       Edit/Delete Post   Reply With Quote 
swing and position trading since i work a day job and do not have time for day and snipe trading etc...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
chuck9
Member


Rate Member
Icon 1 posted      Profile for chuck9     Send New Private Message       Edit/Delete Post   Reply With Quote 
Mack, I understand exactly where you are coming from. Been there and done that.

I am a retired vet coming from the Vietnam era.
chuck  -

Posts: 330 | Registered: Nov 2007  |  IP: Logged | Report this post to a Moderator
  This topic comprises 2 pages: 1  2   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2013 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share