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Stocks MDawg's Stock Trading Adventures

Discussion in 'Stock Market Forum' started by MDawg, Apr 4, 2020.

  1. MDawg

    MDawg Well-Known Member

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    BTW it wasn't clear to me what price you bought AMZN at and what price you sold it at.

    I know you entered the trade after mine, just not clear on the numbers.
     
  2. Bago

    Bago Well-Known Member

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    The inverted Head and Shoulders pattern is a reversal pattern which has a good probability of success, especially when it happens on a strong support level. The theorical price has been missed at around 2030, because above we have a gap acting as a resistance, it needs to be broken to give an upside momemtum.

    e8b1gexP.png
     
  3. MDawg

    MDawg Well-Known Member

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    I am not a pencil pusher - I just look at the chart and the high/low for the day so far, taking into account some other market data and historical prices for that stock, and I go in when the price is right. Even when I first got started over twenty years ago it worked out for me, and it has worked out close to 100% of the time in recent years.

    Anyway, although the analysis is appreciated, I just asked what price you bought AMZN at and what price you sold at, for that one trade you did, today. I can't really comment on it until I know what you did.

    I did it 2002 to 2004 on the first drop to 2002. If anything, I tend to sell myself short on my trades; typically my entry points run much further than my scalp.
     
    Last edited: Apr 7, 2020
  4. Bago

    Bago Well-Known Member

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    Hello, my trade is not important, it was for fun, I bought at 2015,56 and sold at 2016,01. How can you know the high/low for the day since you bought after 1 hour of the opening?.
    Also, I don't see Facebook stock in your watching list, any reason why you don't include it, maybe because it was launched in May 2012 which is too recent?.
     
  5. Bago

    Bago Well-Known Member

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    In weekly data, we can see that 2030 is the most important resistance, rejected many times in the past, it won't be broken easily IMO.

    6sooYJYV.png
     
  6. MDawg

    MDawg Well-Known Member

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    You can't go by purely technical analysis. For example what about when the all time high is broken? And as far as your 2030 we did break that yesterday more than once, but the reason it fell below that eventually had nothing to do with AMZN resistance per se, but with a general sell off in the market.

    In any case, the market is controlled by emotions - the emotions of hundreds of thousands if not millions of people - and there is no way to translate that into just charts.

    Anyway, your trade at 2015 I wouldn't have done that because it was already losing gas from its way back up from the bottom. Your question about how did you know 2002 was the bottom - you're referring to a double bottom, yes sometimes I look for that but also sometimes I just see that it is at the new low for the day and buy. I have a lot of things going through my mind when I trade but intricately looking over charts for technical analysis is not one of them. If pure technical analysis worked then every technician would be a gazillionaire.

    I track 70 stocks and own about twenty of them long term. I haven't held FB long term but I do trade it - rarely.
     
  7. MDawg

    MDawg Well-Known Member

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    I had an order in for AMZN 2011 but was just a tad too cheap, so I missed it. I haven't traded anything today, but my long terms including my long term AMZN are almost all up.

    I can see AMZN hitting 2200 post earnings, I just have a feeling - no insider info this time!
     

  8. Bago

    Bago Well-Known Member

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    What a coincidence then, the price was again rejected 2 times today. Also as you don't know technical analysis obviously, you can't say the resistance line was broken yesterday, since it is a WEEKLY resistance line, it is not because it reached 2035 in a 5 minutes data chart that the resistance is broken, it needs a weekly candlestick closing above the weekly resistance line. Concerning your question about what to do when your resistance is broken, you have a tool that is called a stop loss. Trading is all about risk-reward and the probability of winning the trade.

    32f3lRW1.png
     
    Last edited: Apr 8, 2020
  9. MDawg

    MDawg Well-Known Member

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    As I mentioned, I haven't had a losing trade in over two years. I don't need a stop loss when I am not losing to begin with, do I? I make $1000. per trade minimum; I am trading large blocks.

    You can do what you do, but what I am doing works for me.
     
    Last edited: Apr 8, 2020
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  10. Nathan Detroit

    Nathan Detroit Well-Known Member Founding Member

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    I see a man of action not of charts .



    ND
     
  11. MDawg

    MDawg Well-Known Member

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    Thank you, true! and also, as I mentioned...If pure technical analysis worked then every technician would be a gazillionaire.

    And it's uncanny, you may study a stock and study it forever, and yet when the day comes to put the real money on the line, you might find that all that study and technical analysis doesn't happen the way you expect! I've paid my dues starting about two decades ago when I started doing this.
     
  12. MDawg

    MDawg Well-Known Member

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    AMZN 2030 to 2031. It dropped below 2020 and I had an order to buy more in at 2017 but it didn't drop quite that low. Anyway, another successful trade and funny how this "2030" line that was mentioned seemed to me like a good point to buy for a trade today. And it did work out.

    Another thing that is interesting is that when a trade moves against you you are actually supposed to RAISE not lower your sell price. I left it the same, did not raise or lower, but counterintuitive as it seems, that is what you are supposed to do. And if you look at AMZN now, it is over 2033.
     
    Last edited: Apr 9, 2020
  13. MDawg

    MDawg Well-Known Member

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  14. Mako

    Mako Well-Known Member

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    I hesitated on CCL last week, had the button ready to press at $8.75, significant size. Talked myself out of it and have now missed the boat. No pun intended. :D
     

  15. Mako

    Mako Well-Known Member

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    I would still like to throw in on a "disaster/bailout" portfolio of contrarian plays, for a long hold.

    Something like GM, UAL, MGM, HLT, CCL, BA, and DIS. Haven't decided if I want to use long leap calls to try and leverage more shares, worried that some of the strike prices will still be shit in 24 months when the calls expire.
     
  16. MDawg

    MDawg Well-Known Member

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    I prefer the actual stock to options, as then TIME is on YOUR side.


    DOW may be down, but AMZN and TSLA are the darlings of the stock market today. NFLX not too bad too.

    Long terms looking good!
     
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  17. Mako

    Mako Well-Known Member

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    Yes, it's basically greed versus patience. Patience usually wins for me but these extreme circumstances are tempting. Will likely just use stocks though, even 24 months is too short of a time period for some of these.
     
  18. MDawg

    MDawg Well-Known Member

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    AMZN!
     
    Last edited: Apr 13, 2020
  19. MDawg

    MDawg Well-Known Member

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    Actually due to AMZN going up a LOT today and lately, I am now almost at my all time high from February! for my stock accounts. TSLA AMZN and NFLX have taken me pretty far practically overshadowing the losses in my other long terms.

    I'm having a VERY good day.
    Dreyfuss_LetItRide.jpg
     
    Last edited: Apr 13, 2020
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  20. MDawg

    MDawg Well-Known Member

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    Wouldn't it be ironic if NFLX ends up going DOWN once this mess is over, as people start leaving home?

    It's at an all time high now! though.
     

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