danny wrote:

QUOTE:
yes it is... Volume to the downside makes it more significant.. When we say that.. we are referring to the lowered average cost of supply..
red is an indication of sell off. That means the bar ended with the close lower than the opening price.
Hope I was able to help.


happy charting!

Thanks for your response Danny!

A related question, we know how to calculate target price - based on the chart patterns, but how do we calculate support price and how do we calculate trailing stops in subsequent sessions in our trading plans? do we do the following:
a. pick the latest low as support price
b. pick a perceived ave. low over lets say the last 3-5 days as support price
c. use ATR - i read somewhere they use ATR - from what i remembered this is the measure of volatility? of the last 15 days i think and multiply it by 2 to get support price

reason I am asking this is i usually suffer a big loss when i set support price too far, but gets shaken off if i position stops too close . Is there an optimal way to set support price?

thanks again for the patience

setting stops is a risky business.. hehehe.. risk.. that's what it's all about. But technically speaking, if a cut below support level is too deep a value, I'd recommend looking for a short term trend line. otherwise a previous low that holds for at least 2 days can also be used. Again, I would like to remind you that support and resistances with in periods of consolidation can or cannot be retested. when the price is moving sideways, anything goes. It is our recommendation therefore to stay on the sidelines when this happens.

During trending situations, its very easy to plot an accelerated trend line and any violation of that is worthy of stops. a trending support line is usually used for trailing stops.

Hope I was able to help.

Hi Danny
Thanks for the response. Yes i guess staying out during sideways movement is the most prudent thing to do but this always tests our discipline hehe.

thanks
jon

hi Dan! could you look at my thread w/ charts/analysis here.

i'm curious to know how you got a downside TP of $40 on AAPL when i computed for $28



thanks!!!

Yamada Jiro wrote:

QUOTE:
Tina, if you want to have an idea how we do it real time, get the following:
1. skype - we use this to chat while trading. Dito mo makikita mga action namin.
2. amibroker/metastock - keep the charting software open to see the chart to see where we're supposed to be making a move.
3. advfn.com - register for free for monitoring the price action of the indices and selected stocks. Delayed sya ng 20 minutes pero better than nothing.

If you want to try your hand in trading the US market, we have the virtual stock exchange. It's not the same thing of course, but it's the closest thing.

Hi Sir Bonner, do you guys still use this?

#2 - can i use bigcharts.com/stockcharts.com?
#3 - advfn.com ? i know this is an old post i'm replying to but is it okay to use bigcharts/marketwatch now? or is this site still good?

thanks!

jonf1tch wrote:

QUOTE:
Yamada Jiro wrote:

QUOTE:
Tina, if you want to have an idea how we do it real time, get the following:
1. skype - we use this to chat while trading. Dito mo makikita mga action namin.
2. amibroker/metastock - keep the charting software open to see the chart to see where we're supposed to be making a move.
3. advfn.com - register for free for monitoring the price action of the indices and selected stocks. Delayed sya ng 20 minutes pero better than nothing.

If you want to try your hand in trading the US market, we have the virtual stock exchange. It's not the same thing of course, but it's the closest thing.

Hi Sir Bonner, do you guys still use this?

#2 - can i use bigcharts.com/stockcharts.com?
#3 - advfn.com ? i know this is an old post i'm replying to but is it okay to use bigcharts/marketwatch now? or is this site still good?

thanks! :)

Some updates. Iilan na lang ata gumagamit ng skype. The problem w/ skype is if there are too many people in the room, the lag in message handling is very slow. So I decided not to use skype anymore and replaced that with our chatroom in the AT website.

I still use amibroker. I actually find it easier to use than metastock although it's just as powerful if not more so.

advfn.com is still ok to use if you only want it for monitoring purposes but remember it's delayed by 20 minutes. If you like something a little more up to date, go to marketwatch.com. Realtime daw sila. DAW.

You can use bigcharts.com/stockcharts.com but for what purpose?