Friday, February 01, 2008

Latest News: Microsoft bids $44.6 billion in cash and stock to acquire Yahoo

07:56pm I guess that's why the Index Futures, in general, have shot up in the last half hour or so (for more of this breaking news, click here)...And because of this, PRICE has broken through last PRIME Resistance, continuing the Bull TREND, on the SWING Chart.
09:45pm Seeing some pretty wild swings in PRICE in pre-market activity - Due to drop in Payrolls.
10:37pm There needs to be an Oscillation Challenge of Resistance (Pre-market high of 1398.00), on the TREND Chart - A Failure would go in line with the SWING Chart currently turning down.
10:41pm SHORT 1381.00 / STOP 1382.00
10:42pm That was a closed one. Missed my STOP by 0.25pts. Moving STOP now to 1381.50
10:43pm Oops...spoke too soon. Stopped at 1381.50 / - 0.50pts.
10:44pm Let's wait for PRICE to get out of this mess first.
10:47pm Was fooled by the Minor Oscillation Failure...that's why I took the SHORT. Now PRICE is really heading up to challenge 1398.00. Will wait for a LONG entry point.
10:57pm LONG 1386.75 / STOP 1385.75
10:59pm Moving STOP to 1386.50
11:00pm Out at 1390.50 / +3.75pts. Man, that was a scary one...
11:05pm Still no signs of failure yet. PRICE still heading up.
11:09pm My, My...this push is strong.
11:12pm Hmmm...PRICE completely missed 1398.00 by 0.25pts. Is this the failure I was lokking for? Let's just wait and see.
11:14pm SHORT 1393.75 / STOP 1394.75
11:16pm Moving STOP to 1394.25 - The swings in PRICE are quite wild.
11:17pm Moving STOP to Break-Even.
11:18pm Saw that?...the "spikes" are terrible. Stopped at B.E. I suspect there are a lot of programmed trading going on, and thus the reason for these suddden spikes in PRICE movement.
11:23pm Seeing where PRICE is now, from my last SHORT, is very very painful...I'm done for the night. Have a good trading session!

5 comments:

retrade said...

Thanks for the info. I ended up flat this morning. We'll see how the afternoon goes. Can you do a blog post on how your create your charts and how you trade?

Thanks.

gerimegaly said...

Hi Retrade,

glad that the info was helpful to you...

I wish I could say more about my method of trading, but unfortunately, when I learnt this from my Mentor, I had signed a NDA (Non-Disclosure Agreement), which prevents me from saying or discussing more than what I have already done so, in this blog. The main gist of this method, is that we trade "PRICE" or what some would say, "PRICE ACTION". If you are keen to know more of this method, you can go to www.agmarketlogic.com

You can either sign up as a member of his website, or attend one of his courses (the less expensive method is to join his website but then again, there would also be less personal attention given to you, as compared to attending his class). If you do contact him, please let him know that I referred you to him. I do not receive any referral fees from him but at least he knows that my blog has been instrumental in creating more awareness of his trading method. He was very generous to me when I was learning his method. And to repay that generosity, I refer traders interested in his trading method, to him.

retrade said...

Thanks I'll look into it. How long have you traded the method he taught you? Have you been consistently profitable?

Thanks.

gerimegaly said...

I got to know Bill in Oct 2004. Had a tough time understanding the theory of his method as his manual at that time, was still pretty "raw" and I was only able to grasp it fully when he opened his Chat Room in early 2005, and when he visited Singapore for the very first time in May 2005.
Of course, trading it "live" was a different thing altogether. To be very honest with you, my trading habits are pretty haphazard as I am still working in my dayjob. And as you know, when the US markets open, it's already late in the night, over here in Singapore. So, it takes alot of effort and discipline to juggle between working in the day, and trading at night.
Using me as a guage, as to whether one can be consistent, wouldn't be fair to the method itself. What I can say is that his method is so, so simple, that once you grasp the mechanics of it, you will be bowled over by its simplicity.
More often than not, many trader's blame the method's they've learnt to be a scam, unworkable, or even downright lousy. In some cases, I totally agree with them. But let's not throw out the baby with the bath water. Sometimes, we need to look at ourselves, in terms of impatience, not sticking to the rules, lack of discipline, etc. as to the failure, and not the methodology itself.
If you have any problems understanding the method, after signing up with Bill, let me know. I will be most glad to help.

gerimegaly said...

Forgot to mention that if you need me to email him on your behalf (to join his website), just drop me an email (gerimegaly@yahoo.com.sg) and I'll be most happy to start off the introduction on your behalf...