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 Strategies & Market Trends | Befriend the Trend Trading


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To: hubris33 who wrote (35432)7/20/2004 6:51:30 PM
From: Bald Eagle   of 39682
 
WOW, my MTT and FPOTW account up over $600 today, woohoo!

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To: hubris33 who wrote (35431)7/20/2004 6:53:57 PM
From: Bald Eagle   of 39682
 
RE:OK so you have identified a formation in the chart, now what is your strategy to deal with it?

I'm already moving money back into a U.S. equity fund that I took money out of a few weeks ago when the Dow was a few hundred points higher. Moved half back yesterday and will move the rest in a week or so. This is my 401K money.

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To: Bald Eagle who wrote (35436)7/21/2004 12:23:07 AM
From: hubris33   of 39682
 
BE - Did you know you can trade the Dow directly using ETFs? Try the 'diamonds' or DIA to trade the whole basket...

It's all explained on the Yahoo ETF page, here:
finance.yahoo.com 

The Diamonds are explained here:
amex.com 

Nice thing is it trades like a stock, but NO mutual fund fees! No broker 'load' fees, etc.

This way if you like the action in the DOW chart, you can trade that directly, rather than hoping some mutual fund manager bought the right shares to match the DOW. DS likes this approach too, after all his 'other' service he has his subscribers trade the QQQ, the NASDAQ equivalent of the Diamonds!

Now if you want to get really 'wild' you can trade the index futures or e-minis....but that is another tale and another one of those 'trading manuals!' LOL!

H3

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To: hubris33 who wrote (35437)7/21/2004 4:25:43 PM
From: Bald Eagle   of 39682
 
Yes, but can't trade them in my 401K - Uggh, what a horrible day!

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To: Bald Eagle who wrote (35438)7/22/2004 12:55:47 AM
From: hubris33   of 39682
 
Why not? BTW - Today was a GREAT day....to be short!

H3

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To: hubris33 who wrote (35439)7/22/2004 9:34:14 AM
From: Bald Eagle   of 39682
 
Why not?

401K's have limited choices.

BTW, down over $1000 on my two MTT purchases now, an uptick day would be nice.

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To: Dr. Stoxx who started this subject7/22/2004 11:17:45 AM
From: Bald Eagle   of 39682
 
Net change - MINUS $1290 (not counting my monthly fee)

Update to my MTT experience - Another $831 into the -ve column .. uggh. Shouldn't I get a few free months, Doc?
Pretty soon, I may not have any money to pay for these losing trades, anyway. :-(

1. Rxxx(800 shares) - Bought at 6.48, sold at 6.66 = PLUS $130

2. Nxxx(400 shares) - Bought at 13.20, sold at 12.76 = MINUS $190

3. Axxx(500 shares) - Sold short at 11.26, covered at 11.18 = PLUS $21

4. Sxxx(500) - Short at 9.86, covered at 10.42 = MINUS $300

5. Mxxx(500) Bought at 9.88 - Sold at 9.98 - PLUS $26

6. Sxxx(400) 14.60 - sold at 13.46 - MINUS $480

7. Txxx(700) Bought at 7.25 - sold at 6.73 - MINUS $388

8. Oxxx(1000) Sold short at 5.33 - covered at 4.82 - PLUS $486

9. Axxx(500) - Bought at 10.80 - sold at 10.51 - MINUS $169

10. Axx (400) Bought at 14.85 - sold 15.07(06/02/04) - PLUS $69

11. Oxxx (500) at 11.50 on 5/27 - sold on 6/14 for 11.56 - PLUS $11

12. Pxx (300) at 14.09 - sold at 14.90 - PLUS $229

13. Ixxx (400) at 6.98 - sold at 8.15 - PLUS $449

14. Cxxx(500) at 10.37 - sold 10.55(my mistake!) - PLUS $71

15. Ixxx (600) at 7.82 - sold 8.25 - PLUS $244

16. Ax(400) at 16.13 on 6/8- sold at 15.55 (Doc didnt tell me to, had my own stop in) - MINUS $251

17. Mxxxx (1000) at 5.43 - sold at 4.97 - MINUS $474

18. Axx (300) at 15.40 - sold at 14.01 - MINUS $437

19. Cxxx (500) at 9.65 - sold at 10.69 - PLUS $494

20. Axxx (400) at 12.97 - sold at 10.94 - MINUS $831

Open trades:

Hxxx (700) at 6.96 - currently about 6.21

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To: Bald Eagle who wrote (35440)7/22/2004 12:41:06 PM
From: hubris33   of 39682
 
BE - Your reply makes no sense! I can trade options, straddles, EFT & futures in MY Roth IRA with Cybertrader (a division of Schwab). Why does your broker place limits on you? Perhaps it is time to get a new broker?

TC and others here have been beating the drum for a while on this, but your position does not seem to have changed! HUH?

I assume you came here for other than just entertainment purposes. The education is before you, you just need to step up to the plate and take it!

Look at the advantages to on online broker [ie MBTrading, CyberTrader or Interactive Brokers]
1. lower commissions on the trades
2. Instant self fill of the trade, no waiting for the broker's system to transfer order to floor and wait for it to be executed. No waiting to get the guy on the telephone.
3. Self placed trailing stop loss orders, even combined with self placed targets: you can 'bracket' your position with orders!
4. Trade ETFs, e-minis, etc.

The disadvantages:
1. No glossy brochures for the coffee table.
2. No free lunches.
3. No hand holding.

What do you say? Time to move the $$$ to a 'real' trading account?

H3

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To: hubris33 who wrote (35442)7/22/2004 12:54:16 PM
From: Brian D. Potts   of 39682
 
Hubris

RELAX! BE said this was a 401K, not an IRA.

401Ks are usually administered by the company you work for and do, indeed, offer limited investment opportunities (usually in mutual funds).

The only way you can transfer money out of the 401K is to leave your job (usually).

Brian

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To: hubris33 who wrote (35442)7/22/2004 1:31:05 PM
From: Bald Eagle   of 39682
 
I said 401K, not IRA.

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