Tuesday, 3 February 2009

Trades 03/Feb/2009


A bit of a nothing day for me today. Couldn't find much, so just one trade to blog.

TYC (gap up)

Standard OR break on 2nd followed by retrace which keeps the OR high as support. The 5th (inverted hammer) is an inside bar NR3 pullback off the OR high. This is our long trigger. Looked good intially and took partial at near the whole number as it was having trouble with it and the general market was coming off it's highs at the important 8000 level. The subsequent retrace stopped us out on the rest at breakeven. So overall a minor gain.

There is a couple of other things worth mentioning on this trade. Firstly the 9th bar provided a good entry for a long as well. It is something I need to work on, because I always hesistate to enter another position on the same stock after it has stopped me out. Secondly my exit was based on combination of stock price action and general market action. The "non-market" camp could point out that had I kept to my normal stock specific stop loss strategy I would have stayed in the trade since 1R didn't get hit and consequently I would have rode the pullback without getting stopped out.

---- Fib and R values --------------------

---------Trades ----------------------------


Anonymous said...


How are you using the gapper scan in Tradestation? I am using TS but am not able to figure out how to set gapper watchlist. Any help will be appreciated.

TraderAm said...

The new main gapper scan which scans the whole market has some issues outstanding. I am still using IB scan for my main stocks to watch import all of these into radarscreen for real time monitoring.

Anonymous said...


Can you elaborate on what Radarscreen does for you automatically? For example, does it alert on an OR BO, a NR bar, etc.? Thanks.

QQQBall said...

yeah thats tough - if you cut and get out with a small profit and re-enter and get hit with a full stop out you turn a winning day into a losing day. but objectively and allowing that i have the genius of hidsight ;) - the 9th bar was a decent/good entry.

i just watched the market today - i was a little outta sorts about something non-market related and felt funky. i did not GG came back on a traderX 38.2% retrace with the target being a retest (2T) at the ORH - which it made.

TraderAm said...


Radarscreen will automatically scan for any setups you give it.

So for example, they have standard patterns already setup(e.g. specific candles like hammers, bullish engulfing etc). You can also scan for indicators, ma crosses, slow stoch etc.

Then on top of that you can code your own setups to scan for. Things like you mention: OR BO, NR bar, NR7 can be coded.
At more advanced level, you can try to code things like trend pullbacks, relative market strength, multiple timeframe s/r levels etc.

I'm just on the basics at the moment. But when I have time I will have a look at coding up some more advanced setups. It's fairly straightforward. But then I am from a programming background :)