SK's Heir To The Throne: $3,000 to $6,000 -- Currently $4,940

After being introduced to the market almost 3 years ago I've learned enormous amounts of knowledge about stocks and how to trade them, yet I still feel like I know nothing and I need to learn more.. but thats okay right? Hunger for more! 

Once I found HSM it was on! I read everything I could and studied diligently. I would consider myself an advocate of Rock Sexton, he himself has taught me much about these volatile markets, and the Pinch Club is my home here. 

So, in this thread I'll record my ideas, thoughts, and trading strategies with my own analysis.  My goal is to collect ticks. I will use tight mental stops, and sell points where I think my profit is sufficient. My strategies include pinch theory, volume price analysis, the creek method (Wyckoff), while mixing in different indicators such as volume by price, volume by time, VWAP, and Pivot Points. 

Lets get it!

EDIT: I also wanted to mention my first goal for this journal, my starting capital is $3,000 and my objective is to reach $6,000. 

First potential trade:

HGT

Looking for a bounce around this $15.33 price. Very appealing to me right now.

1. Pinch Climax √

2. Selling Climax √

3. FULLSTOCH/PPO cross√

4. +DI/-DI widening √

5. Amassed volume √

"Losers bring money into the markets, which is necessary for the prosperity of the trading industry"

Wanted to chart up HITK, I've been watching this stock since its selling climax back on Jan 10th and it was also mentioned in the Pinch Chat. I didn't trade this because my funds were tied up but I did paper trade it on my TOS account. 

My initial creek was $36.20 but since I paper traded it I got in at the "mini" creek @ $35.90 and it broke out on 200k volume and closed @ $36.76 (86 ticks). 

The reason I'm showing this is because within the Pinch Militia we spot these suckers non-stop on a daily basis. The Wyckoffian Method is textbook and it will work if you are patient and your timing is correct. 

Was just looking at this chart of YHOO from mid-1996 to 2000. It went from .70 cents in 97' to a high of $125 in 2000. Can you say, vicious? 

0

"Successful trading has 3 pillars: psychology, the trading system, and money management"

Because thats not the focus. The focus is to patiently wait for accumulation after the AR forms the creek and range, then buy when price jumps the creek with volume expansion. 

I usually only swing trade daily AR's because they're less risky than intraday AR's. Don't get me wrong, intraday AR's are lovely and one can profit a lot from them, but the focus is the creek. 
 

Quote:

Originally Posted by Datemike 

ok ill bite. Why not just buy the "automatic reversal"
 

 

/ES penetrating this 1297.5 mark

Futures trading is on another level. I respect whoever does it. I see most people on HSM and other places always talking about trading the E-mini's. I've always wondered if anyone on HSM traded other types of futures, like corn. Corn futures move so wildly and volatile whoever trades them must be a boss. Corn just dropped from $660 to $600 in a day. 

And we have lift off... lots of volume around this 1300 area.. definitely being distributed into 

Quote:

Originally Posted by Stock King 

/ES penetrating this 1297.5 mark

 

DISTRIBUTION! 

In HGT @ 15.14

also watching WNI, UNG

In UNG @ $5.46

My stop loss was hit at $14.80 (-34 ticks) with HGT, looking to re-enter soon. 
 

Quote:

Originally Posted by Stock King 

In HGT @ 15.14

 

 

also watching WNI, UNG

Summary (1/17/12)

I was trigger happy with both my picks (HGT, UNG). Bought to early and should of been patient and waited for more supply tests. I'm still holding UNG but looking to re-enter HGT in the imminent future. 

I also had WNI, BNVI on my list for this week and they had some nice spurts. 

HGT looking prime. It may have found the bottom finally. Still holding UNG

I didn't buy WNI and its on fire..so sad I'm not in it :(

IMO the SPY is looking a bit toppish. 1320 seems like a demand test area and if the market distributes we'll head back lower and consolidate throughout the 124-130 arenas. Also, relative to the volume from August to mid December this rally from the 1200 bounce from Dec 20th until now is on low volume, remember decreasing volume on up moves is bearish. So we shall see.

It's listed under the chart...

I'm still interested in this stock, I was trigger happy on my buy target. 
 

Quote:

Originally Posted by perezidential 

Hey SK, just curious what indicators did you see that made you go in on the HGT play when you did?