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General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #159083
5/17/2022 11:54:26 AM

By the way, in one of his last 2 weekly videos he praised his recent student David :).
What did David do, lol? I did not listen to the last two weeks of videos.

Great questions you asked.

Let's say that the broad market is up (Dow, Nasdaq, S&P 500) in strong uptrend and the prices of these indexes are above MA(200) and MA(50).

Is there better chance of success trading stocks and/or ETFs that fall under these indexes?

Compare the success rate now. You will be swimming against the tide.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #159074
5/16/2022 7:35:59 PM

Glad he is answering your questions.

General Discussion · THE KING HAS RETURNED
davesaint86
msg #159039
5/7/2022 8:39:57 PM

It's good to be the king!

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #159038
5/7/2022 8:06:20 PM

1. I posted the rules. I'm guessing he deviates from the rules especially in a bearish trading environment. I know he days trades throughout the day with his trading partner. I now they have been shorting a lot on the 1 minute chart.
2. I do not know if he has a trading log.
3. I agree. Like I said in a previous post, you do not want to swim against the tide. The tide is bearish. And if you do trade the bearish side, you me want to lower your chart time frame and get in and out of trades quick.

Here is what I'm doing. I created the spreadsheet below. I'm using the Vix/Bond (Risk-on/Risk-off) indicator I think Kevin developed along with a scoring system that Charting Wealth is now utilizing. I also have numerous profitable strategies that I developed in ETF Replay and Portfolio Visualizer. Almost all of them use momentum. I cannot see myself going long right now in stock or ETFs like AMZN, MSFT, TSLA. I can see going long DBC, XLE, and XLP once I receive a buy signal again.

https://www.tradingview.com/x/FqP1uaYV/

@davesaint86,

1. I've finished documenting his 4 months of weekly videos, and I seemed to notice that he might not have an actual written down trading plan as in a couple of instances he seemed to make spur of the moment decisions different that his usual ones.
Do you know if he has a formal set of trading rules to follow that are written down?

2. Also, there were a few instances where he didn't know for sure what if any 10% share reduction 0.45 ATR profit targets had been taken on a particular stock which would seem to indicate he doesn't keep an accurate log/history of his trades.
Do you if does keep a trading log?

3. Preliminary findings from his 4 months of weekly trading videos documenting his Daily, Weekly, and Monthly trades shows that he has been in 49 trades so far this year, 2 are still Open as of last weekend and 47 have been closed. 24 trades were closed before reaching any 0.45 ATR profit targets were he takes off 10% of his shares in the trade.

The majority of his trades have been losers but it will take a while to figure out exactly how many ended up being profitable due to the profit target methodology and the trailing stop mode executions where he takes 50% of shares out of the trade .

It doesn't look like he could possibly gain 15-18% profits this year averaging 3 trades per week while only risking 1/2 a % of his trading capital per trade as he has a lot of small losses to overcome and only 8 months to do it in and now he has the market and mathematics working against him.

Thanks,
Ed S.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #159037
5/7/2022 7:43:38 PM

https://www.tradingview.com/x/nJdiShMP/

Here is what I wrote down. See my other post below this one.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #159018
5/2/2022 8:19:54 PM

Nice Ed. It's hard to make gains when you are swimming against the tide.



General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #159013
modified
4/29/2022 11:23:33 AM

Ed,

I have an answer to this question. I created what you see in the image in Excel. The green shaded areas are the only entries one has to make in the spreadsheet. Image one shows the maximum Risk at $10,000 for a SPY trade. Image 2 shows the maximum Risk at $5,000. You can see how number of shares, profit targets, etc change.


2. In that same video you mentioned around minute 17 that you are using "About 1/2%" for position sizing. I'm not sure how you can do your various Stop calculations on "About 1/2%" don't you need a specific value?


https://www.tradingview.com/x/ahZus5I0/

Also, I might have an answer to this question.

3. Once again, in thiat video, you mention that "92% of prices hold on or tend to go up at the -3rd ATR Channel". I've searched the internet fairly well and I can find no mention of that 92% level anywhere. Did you perform some personal backtesting study to determine that number? Can you provide the source? Is it specific to only Keltner Channels that are based on 20 period moving averages, or does it apply when the moving averages are at different levels?"

He told me if price gets go below the -3rd ATR channel or above +3 ATR channel that there is a 92% that price will come back into the channel from below or above sooner than later. It's like Ira Epstein states that if price is below or above the bollinger bands there is a high probability price will move back into the bands within 5 days.

General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week
davesaint86
msg #158997
modified
4/24/2022 2:37:24 PM

Update

- The course ended
- I did receive access to the scanner (The scanner is okay. However, on April 15th in should have flagged MA as a buy over the MA(200). It did not so I notified the developer of the scanner and he said he would check into it.). I do not know if it is fixed or not.

What I like
-Like the variety of strategies especially V1/V2s
-Like the risk management piece
-Trading room

What I'm doing different
-Do not make trades unless you analyze the overall market for risk-on/risk off conditions. Just because you get a buy signal for one of strategies does not mean you should take the trade. Buying GOOGL on Friday (over the RSI 30 level) in my opinion is not a high probability long trade due to VIX being elevated and the broad market being risk-off.



Is your one on one course over? Did you graduate with honors :)

Have you compared his scanner, that you now have access to, against your SF filter for V1s, to see if they return the same group of stocks?

Thanks,
Ed S.

General Discussion · Happy Easter!!!
davesaint86
msg #158984
4/17/2022 4:08:00 PM

Happy Easter Mac!

Filter Exchange · V2 & V1 - Value Zone
davesaint86
msg #158975
4/12/2022 7:41:16 PM

Correct. It still popped over 5% today before going back down.

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