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net first platinum 600
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I have seen an AMAZING quantity of students placing trades that have gone wrong and if they would have done what I call "A ROUND ROBIN" it likely might have prevented the cost. I want to talk about what I do during my "ROUND ROBIN" before entering a whole new trade or determining to exit a preexisting trade: 1. I prefer to look at both Micro and Macro (short-term and long-term) views with the stock. Sometimes if I am planning to enter or exit a short-term trade it really makes a big difference to get out with the intra-day chart (micro-view) look in the bigger picture. I open a 1 month or longer chart (macro-view) to start to determine the longer term trend. This sounds very easy plus it is, however for some reason inside the heat of the decision we feel so pressured that people often forget to appear with the big picture. It is tough to start to find out the forest through the trees so if you are considering intra-day charts do yourself a big favor and check exactly what the actual trend is as simple as looking with the daily charts too. I Just have seen a variety of people buy calls with a double top inside a down trending market and I am just surprised about their decision. It looks like these individuals are expecting the stock to defy the laws of gravity and priples of physics (what goes up, returns down; what goes down, usually goes up). If they had done a "Round Robin" they will are already less likely to generate this kind of self destructive risky decision. 2. I like to confirm my decision along with other indicators. For an intra-day view I such as the TRIN and also the TICK. Se I Have trade mostly NASDAQ stocks I use $NASTRIN and $NASTICK. These tell me some extremely important things: TRIN: It is a short-term trading indicator. Essentially this indicator is achieved by utilizing the advances to declines spread and dividing that through the volume of advances to declines*. $1 or maybe more BEARISH $.80 to $1 NEUTRAL, meaning this means absolutely nothing to me $.80 or Lower BULLISH *If you occur to be a technically minded person you are able to calculate this indicator. It is often a calculated as follows. Using Nasdaq Index, complete this formula: ((# of advancing issues # of declining issues) (Total up volume Total down volume)). TICK: Gives me a concept if were heading up or down within the short term*. 200+ BULLISH + 200 to - 200 NEUTRAL ZONE 200- BEARISH *If you might be a technically minded person you can calculate the TICK indicator by subtracting the quantity of stocks taking through the quantity of stocks heading up. COMPARE TRIN & TICK: At first look, realize that both the indicators are contrarians of each and every other. Which implies that to be Bullish the TRIN is likely to be moving lower as well as the TICK is planning to be moving higher. To be Bearish the TRIN is likely to be moving higher as well as the TICK will probably be moving lower. On the TICK I like to attract support and resistance & look advertising online just like a stock to view if the indicator is heading down or up in a given moment. It could be the movement and direction with the movement that indicates the strength from the direction. NOTE: I teach more detailed information for this during my QQQ class 3. I Quickly like to look with the market how the stock follows and confirm that this market has been doing what the stock is doing (both are headed up, or down). The only exception is if news is causing my stock to visit opposite with the market, then I discount the market direction. To find what market your stock actually follows overlay the market industry you think that it follows on your own stock (in the identical chart). In my charting program (Trade Navigator) you simply press "C" and it will overlay it on top with the stock chart. You can then double click around the market ticker symbol to eliminate it from your chart. Some stocks usually do not stick to the market they may be in. For example KKD used to follow the alternative from the NASDAQ although not the NYSE (if the NASDAQ was reasing KKD will be moving down). MSFT is listed on both the DOW JONES 30 as well as the NASDAQ 100 but it tends to adhere to the NASDAQ more. 4. I now think back with the micro look at stock to confirm my decision before I jump in or out of an trade. It is usually an excellent idea to check on the news too. And always have in mind the earnings date of one's stock before you choose to enter a trade. ROUND ROBIN VIEW: I always do the "ROUND ROBIN". It can sure save you from making the orrect trade, and entering or exiting to soon or too ne a higher percentage of the time. It is definitely best to look using the trend, having an exception of performing a some day trade where you hope to be in and out within the same day. In that case you are playing support and resistance to the day and you are able from the longer-term trend during that time. You might consider utilising different views anyway. You can use 1-min, 5-min, and 1-hour charts. If you've taken my QQQ class, remember to make use of the "Pivot Point" information within your decisions - it'll prove being invaluable, especially for short term trades. Once you return to the MICRO View you will have completed the "Round Robin" process. It only takes a couple of moments, when you've got practiced, and it's a fast approach to check what exactly is happening. The time you spend doing the "Round Robin" will be wisely spent because in the tremendous information and decision making value. If you'll like to learn more about my trading philosophy I invite you to attend my trading workshops face-to-face or participate in my online with free streaming trading seminars. Happy Trading... and from the way don't forget to test out tonight's online web class "UPCOMING POWER PROFIT PLAYS" in places you will probably be spoon fed the greatest trades available. Happy Trading, Darlene with BetterTrades
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