Wednesday, September 2, 2009

090109 - COH

COH was one of my trades from yesterday. It gapped up and showed some strength initially, but struggled to get above the ORH where it formed a double top and inverted hammer. I shorted on a break of the low of that candle (blue arrow). My target was the blue horizontal line.



I am using a new charting package that allows me to implement a lot of the code I have written. It was too hard to convert to eSignal, so I decided to cancel my subscription. Their horrible customer service played a role in that decision as well.

Anyway, it is more difficult to draw arrows, so my posts from now on will be pretty basic. I will explain my entries and exits in the analysis.

10 comments:

anarco said...

Hi Tyler~
Nice trade on COH. Congrats!
If you don't mind, would you share on the new software package that you are using?
Thanks in advance!

Tyler said...

Hey Anarco,

Thanks! The software is just TD Ameritrade StrategyDesk. The charts are basic and clean.

I like it because I can set it up so that the chart doesn't move with each new bar. Instead, it shows a fixed number of days with the current day empty and it fills in as the day progresses.

I hope that makes sense.

Tyler

Tajir said...

Hello Tyler,
I believe the lines on the charts are automatic OR with extensions via custom study. Are you using multiple studies to draw each line or calculating all lines in one custom study. The problem I am having is that if using separate studies of ORH and ORL (as shown by stock rookie's blog), I cannot calculate mid point or extensions. And I don't know how to make it all work in one single study. I'll appreciate if you can share your ideas on this.

Thanks

greytrader said...

You should get Snagit 9 for your chart capture. It is the best capture software out there.

anarco said...

That is very smart of you Tyler!
I already have Strategy Desk (which I use for scanning) so it seems like a good solution.
If you do not mind, I have a few additional questions:
1. Is the data feed reliable? (as reliable as eSignal).
2. It does not have Fibonacci correct?
Thanks in advance!
Anarco

Day Tradr said...

Wow Tyler. Great trade. Weren't you tempted to take partial after the long legged hammer at ORL?

Tyler said...

Tajir,

You have to make each one a different study for it to work with each line being a different color (as far as I know). I will make a post about it later because the code is super long.

I reconfigured Charlie's code for the OR to better suit my needs.

Tyler

Tyler said...

Sylvain,

All my charting packages have allowed me to export images pretty easily. Also, I have started using the screen capture "Snipping Tool" built into Vista. It is free and works pretty good.

Tyler

Tyler said...

Anarco,

As far as I can tell the data is reliable so far. I have not tested it on a fed day, though.

I had to restart the program this morning because I could not get a couple symbols to load, but it worked after the restart.

There are Fib lines. They are configurable, too, just like eSignal. It is in the Drawing Toolbar and looks like an E.

Greytrader, the creator of SpiderScan, is working on an API that will scan TD super quick. It is going to be titties and you might find it useful when he releases it.

Tyler

Tyler said...

Thomas,

I had a 50/50 chance of being right and I just didn't think it was going to reverse. Lucky I suppose.

Tyler