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RE: Beginners Questions - Tryst - 2015-01-11
Hi TradingOlives, I was taught by a trader who used that. Maybe I can ask him for you. Do you still need help on it?
Also, it was on my shortlist of charting programs to potentially go with but never really reviewed it as when I looked at ProRealTime I didn't really look at anything else.
Do you have full LSE/AIM stocks on Think or Swim?
Tryst
RE: Beginners Questions - Tryst - 2015-01-15
Hi, got a ProRealTime question here.
Attached are two charts for the same UK stock. One is a weekly chart the other is a daily chart. On both charts I have the moving averages. The MA I have a question about is the 50 day / 10 week MA.
If you look at the attached daily chart you will see the 50 day MA, which is in red, was not touched by the price today, but if you look at the weekly chart you can see that the price touched the 10 week MA. Now I though the 50 day and 10 week MA was essentially the same, so how come there is quite a big discrepancy between them on the two charts? Is there an option I need to set to align them up?
RE: Beginners Questions - isatrader - 2015-01-15
(2015-01-15, 11:15 PM)Tryst Wrote: Hi, got a ProRealTime question here.
Attached are two charts for the same UK stock. One is a weekly chart the other is a daily chart. On both charts I have the moving averages. The MA I have a question about is the 50 day / 10 week MA.
If you look at the attached daily chart you will see the 50 day MA, which is in red, was not touched by the price today, but if you look at the weekly chart you can see that the price touched the 10 week MA. Now I though the 50 day and 10 week MA was essentially the same, so how come there is quite a big discrepancy between them on the two charts? Is there an option I need to set to align them up?
I think that most of the time they will be fairly close as 10 weeks is 50 trading days most of the time, but occasionally when they fall over periods like Christmas where there's multiple days when the markets closed, then the 50 day will pick up extra data from the previous days that's not in the 10 week MA, and hence a bigger discrepancy for a short period.
Change the settings on the daily chart to only show 50 days and on the weekly to only show 10 weeks and you'll see that the lowest close on the 50 day is 3.05 and the lowest close on the 10 week is 3.85, and hence the higher MA, as the daily goes back to the 4th Nov and the weekly goes back to the 10th Nov.
RE: Beginners Questions - tradingolives - 2015-01-16
(2015-01-11, 12:19 PM)Tryst Wrote: Hi TradingOlives, I was taught by a trader who used that. Maybe I can ask him for you. Do you still need help on it?
Also, it was on my shortlist of charting programs to potentially go with but never really reviewed it as when I looked at ProRealTime I didn't really look at anything else.
Do you have full LSE/AIM stocks on Think or Swim?
Tryst
Hi Tryst,
I appreciate any help with thinkorswim. and yes i have full access on thinkorswim
RE: Beginners Questions - Tryst - 2015-01-17
Hi TradingOlives, OK, I have sent an email over to the person I know who uses it. I will let you know what comes back.
I done a quick Google search and this video shows how to add relative strength to a chart in Think or Swim, though I guess you already know how to do this...
https://www.youtube.com/watch?v=mQRWev-0ggI
RE: Beginners Questions - tradingolives - 2015-01-19
(2015-01-17, 10:53 PM)Tryst Wrote: Hi TradingOlives, OK, I have sent an email over to the person I know who uses it. I will let you know what comes back.
I done a quick Google search and this video shows how to add relative strength to a chart in Think or Swim, though I guess you already know how to do this...
https://www.youtube.com/watch?v=mQRWev-0ggI
Thank you very much Tryst
RE: Beginners Questions - pcabc - 2015-01-26
I started a position in CCT.L in December. In January it has rocketed away. This is great, I am about 50% up after a 11% gain today. However, I am now concerned that I might be bitten by a parabolic move as I've had stocks move up this quickly before only to loose it equally rapidly, all above a rising MA. Stop loss currently set at 252p. Given the rapid rise and hence risk of a rapid drop I could take 1/2 my position as per the book. However, I'm thinking of an alternate plan, set a stop loss for 50% of my position at say 335. That way if it dives I have locked in a significant profit and if it continues to climbs I have the whole position.
Thoughts?
RE: Beginners Questions - isatrader - 2015-01-26
(2015-01-26, 10:24 PM)pcabc Wrote: I started a position in CCT.L in December. In January it has rocketed away. This is great, I am about 50% up after a 11% gain today. However, I am now concerned that I might be bitten by a parabolic move as I've had stocks move up this quickly before only to loose it equally rapidly, all above a rising MA. Stop loss currently set at 252p. Given the rapid rise and hence risk of a rapid drop I could take 1/2 my position as per the book. However, I'm thinking of an alternate plan, set a stop loss for 50% of my position at say 335. That way if it dives I have locked in a significant profit and if it continues to climbs I have the whole position.
Thoughts?
Firstly well done. And it's always a hard decision to make of how to deal with a position once it goes parabolic like it has, as you want to hold out for as much as possible. Tightening your stop loss on 50% of the position size seems sensible, or you could switch to a trailing stop loss method like Elder's Safezone on the weekly chart - which you can find on prorealtime to use on UK stocks. Or another trailing stop loss method, or just watching the price action for clues as to when you think it's peaked.
Unfortunately there's no easy answer, as at the end of the day it comes down to a judgement call. But it's a good problem to have at least...