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+--- Thread: Stage Analysis Beginners Questions (/Thread-Stage-Analysis-Beginners-Questions)
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RE: Stage Analysis Beginners Questions - isatrader - 2021-02-14
(2021-02-14, 05:08 AM)miche Wrote: In the case of XOP the 30WMA is far away from the price action. I got in at 61.15 I wouldn't want to place it below that price. Same for Bitcoin if I place stop below 30WMA that's 200% away from price. UUUU also 30WMA is far away from price. In this case when price is far from 30WMA where would you set your stop loss for investor method?
I'm testing it on other stocks that aren't as extended FCX/NTR looks like I put the stop in the right place. Thanks appreciate it!
Personally I would start by moving your stop losses to at least breakeven, as you should never let a decent profit turn into a loss. i.e. a rough guide would be, don't let a 20% gain or more turn into a loss. The 30 week MA will begin to catch up over time, and won't be so far away as the Stage 2 advance progresses, but you will have to be willing to give up over half of each swing advance on each pullback, as that is a normal reaction, and what it takes to ride a major Stage 2 advance the whole way. If you can't stomach those kinds of pullbacks, then I recommend using short term trader methods where multiple closes below the 50 day MA becomes the point where you consider an exit instead, and you will catch smaller moves, and try to trade in and out of the position on the short term advances.
RE: Stage Analysis Beginners Questions - Marknyc - 2021-02-15
I started using TradingViews for my charts. My default chart is all set but I'm still a bit confused about the MA setting.
If I have an MA 30, which is what I want for a weekly chart view, how do I know that it is set for a 30 week (vs day) moving average? The "MA 30" still appears whether the view is for Weekly or Daily.
RE: Stage Analysis Beginners Questions - isatrader - 2021-02-15
(2021-02-15, 09:36 PM)Marknyc Wrote: I started using TradingViews for my charts. My default chart is all set but I'm still a bit confused about the MA setting.
If I have an MA 30, which is what I want for a weekly chart view, how do I know that it is set for a 30 week (vs day) moving average? The "MA 30" still appears whether the view is for Weekly or Daily.
I don't really use tradingview but imagine that you'd need to save different chart templates for each time frame with different settings, as that's what I have to do on stockcharts site
RE: Stage Analysis Beginners Questions - miche - 2021-02-16
Thanks isatrader! I'm only trading 5-10% and trying to invest the rest. Cool I see how we got out in Bitcoin in last bull run because the increase in volume on down weeks is another key sign to tighten stop, the RS line was flattening out and in the fourth base. However I would have put stop once it broke support. Why would you have where you placed it?
In the case of UUUU the price is far away 161% from the 30WMA. I don't currently have a stop on it and planing to ride out the entire stage 2 run. Would I just wait for price to catch up to 30WMA? I'm not sure where I put place it in this case since it's so extended.
Good practice back testing stops. Thanks!
[quote pid='17288' dateline='1613275684']
IIn the case of XOP the 30WMA is far away from the price action. I got in at 61.15 I wouldn't want to place it below that price. Same for Bitcoin if I place stop below 30WMA that's 200% away from price. UUUU also 30WMA is far away from price. In this case when price is far from 30WMA where would you set your stop loss for investor method?
I'm testing it on other stocks that aren't as extended FCX/NTR looks like I put the stop in the right place. Thanks appreciate it!
[/quote]
Personally I would start by moving your stop losses to at least breakeven, as you should never let a decent profit turn into a loss. i.e. a rough guide would be, don't let a 20% gain or more turn into a loss. The 30 week MA will begin to catch up over time, and won't be so far away as the Stage 2 advance progresses, but you will have to be willing to give up over half of each swing advance on each pullback, as that is a normal reaction, and what it takes to ride a major Stage 2 advance the whole way. If you can't stomach those kinds of pullbacks, then I recommend using short term trader methods where multiple closes below the 50 day MA becomes the point where you consider an exit instead, and you will catch smaller moves, and try to trade in and out of the position on the short term advances.
Where is stop order line for JNJ? - Marknyc - 2021-02-17
Hi everyone! I am going through my existing stocks and am a bit perplexed as to where to place a stop order qualifier for JNJ based on the Weinstein methodology. In the attached image, I placed my guess based on the very short pullbacks not qualifying. Where would you put the stop order qualifier?
RE: Where is stop order line for JNJ? - miche - 2021-02-17
(2021-02-17, 03:58 AM)Marknyc Wrote: Hi everyone! I am going through my existing stocks and am a bit perplexed as to where to place a stop order qualifier for JNJ based on the Weinstein methodology. In the attached image, I placed my guess based on the very short pullbacks not qualifying. Where would you put the stop order qualifier?
Hi Mark, I'd put it under the 30WMA and swing low. see attached.
RE: Stage Analysis Beginners Questions - Marknyc - 2021-02-17
Thanks!
RE: Stage Analysis Beginners Questions - arkyuan - 2021-02-24
I want to learn some fundamentals. Any recommendations for book or materials?