Ray Shoup Jr's Page

Today I traded BIDU and followed the trades from opening bell till 10:45 am when I prepared to leave flat.



I exercised my decisions using only the brain and found entries at the extremes and exits at appropriate reversal points when the brain indicated the equity was failing to break support or resistance.



In a short period of time I managed a very nice day improving my use of the brain. My trades were profitable with no emotion to cloud my judgement.

While trading… Continue

Today was a confirmation of the importance of trading within the SMF trading system rules. 14 trades were entered and closed. The absence of buyers and sellers restricted price movements to small ranges. This was not the typical Monday trading action where fund managers usually join in the market adding to the volatility. The good news is that all failed trades and successful trades accounted for a very small negative day. This is very different from my experiences when I traded outside the SMF… Continue

Volatility in today's market brought to light another example of the "Bishop's Rule" . . . always use a stop-market order no matter what.

Setting a stop market order once the equity trade is entered greatly reduces risk and will give me an opportunity to enter again at a lower price and capture an even greater gain in the transaction. The best wholesale equity price is not enough to rely on. I will never knowingly enter into another equity trade without placing a stop-market… Continue

AMZN 4/27 Hi= 146.44 Lo= 141.11 Close= 142.02 Delta=5.33 Teenie=0.33
4/28 Open= 142.59
Gap Up to high: 142.75 @ 9:31 am
Downtrend to 1st low: 140.71 @ 9:47 am Move = $ 2.04
Downtrend to 2nd low: 139.15 @ 10:18 am Move = $ 1.56
Balance of the day gave trades in ranges of 0.50 to 1.00 for an approximate yield of $ 7.00 per share for the whole day.