Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week

StockFetcher Forums · General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week

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davesaint86 725 posts msg #158802 - Ignore davesaint86	3/13/2022 5:15:43 PM Nibor Here you go. Answers below your questions. These questions are regarding the TradingView Deep Dip Buy trade simulation chart that you posted a link for: 1. On the left upper part of your chart you have a line that starts with "Ratings" and further down you have a line that starts DaveSt RSI Trend. I assume those are your indicators and if so could you briefly describe them? Correct! Ratings is a TradingView Indicator, not something I coded. The DaveSt RSI contains SMAs and MAs. Also, it also contains an option to color the candles based on a RSI 14/21 cross or any other cross one specifies. 2. It appears from the 2 days of Profit Target executions you have described in the text boxes that the 2nd day Sold 10% of remaining shares after the first day sales and not 10% of the original shares purchased. Is that correct? The second day of the trade 2 profit out of the 3 profit targets were hit, so that is 20% of the 105 original shares purchased. 85 shares are remaining as of the close of day 2. One would set three new profit targets based on the close of day 2 for the next day. Profit targets are adjusted daily based on the close of the day. On day 4 of the trade one the 1st profit target set based on the close the day before was hit and 9 shares out of the remaining 85 were sold. The next day (day 5) the close closed below the previous day’s low. Also, the RSI closed below the 50 level and price closed below the 50 SMA. All the remaining shares were sold at the close on this day and one would be completely out of the trade. 3. I can't tell which colored wavy lines are which moving averages, could you explain which is the 50day etc.? The light blue is the 5 ema. The grey/silver looking line is the 50 SMA. The blue/orange line is the 20 SMA. The lower orange line is the 300 SMA. The fuschia line is the 250 SMA. The black line is the 200 SMA. 4. When I look in the bottom section below the main chart for the rejection of the 50 RSI level I see an RSI section with a descriptor RSI_X3 (Close,5,14,21). This is one of my custom indicators. I’m only showing the RSI(14) which equates to any standard RSI(14) level. The level will not exactly match the level in StockFetcher due to me having the TradingView adjustment for Dividends turned on. Is that Gossetts RSI and parameters, or yours? His parameters – see the explanation above. Since the ATRs are based on 20 days why isn't the RSI being used based on 20 days? I don’t know. There are 20/21 trading days in an average month might be the reason for the ATR being set to 20. The ATR is base on the 20 SMA. 5. In a lot of his videos that I've watched he normally would sell only 50% when the close is below the previous day's low, is the reason he sold all was because of the combination of rejected indicators? There are rejection of the RSI 30 level trading rules rejection of the RSI 70 trading. Please review the trading rules again. To answer your question in a nutshell, the answer is yes. 6. The 3 profit targets are .45 ATR in succession which by my math is .45ATR .90ATR and 1.35ATR. His Trailing Stop level is 1.5ATR. Is there a some specific reason he just doesn't use the same !.35 ATR level for his trailing Stop mode since the .15ATR difference is so minor? Sorry, I have no idea. 7. Looks like the MACD in the bottom section is using the standard 12,26,9 settings, instead of using the 20 day in any setting position, is there a specific reason for that? He did mention in one of his videos that he uses the MACD to gauge the strength (based on what Alexander Elder taught him), looking at the current support levels vs the previous time price hit the same support level. He looks at the bars on the MACD go see if price is stronger. and a Bonus question related to his one on one instruction you are participating in: Is part of your practice/homework is to watch his weekly recap video for last week and this week to see if you would have made the same trading decisions? He records our sessions recommended that I listen to the recorded session which I’m doing right now. I also listened to his weekly podcast. I went through his Udemy trading course three times and read his class notes before each session. I only had one session so far. The next one is Tuesday night. Thanks, Ed S.
nibor100 1,044 posts msg #158803 - Ignore nibor100	3/13/2022 6:52:02 PM @davesaint86, Thanks for taking the time to respond. Hope you get what you're after from the one on one training. Ed S.
Cheese 1,374 posts msg #158804 - Ignore Cheese	3/13/2022 7:28:58 PM https://www.stockfetcher.com/forums/General-Discussion/Gossett-Trading-Mentoring-2-12-22-Review-of-last-week-s-stock-trades-potential-stock-trade-set-ups-for-the-upcoming-week/158585/20 ================================== @davesaint86 and @Nibor100 Both of you seem to be very keen on the Gossett approach. I honestly couldn't see its distinct competitive edge. In my simple mind, it is a collage of various other popular concepts. I hope you don't mind I ask this: What are some of the major features of Gossett approach that loudly distinguish his approach from the crowded competitors' space? Many thanks.
davesaint86 725 posts msg #158805 - Ignore davesaint86	3/13/2022 8:22:20 PM Cheese! The Deep Dip Buy is just one approach that I'm supposed to learn. I personally think the value of his approach is not what to buy and his entry rules, but his approach to position sizing and scaling out of trades. @davesaint86 and @Nibor100 Both of you seem to be very keen on the Gossett approach. I honestly couldn't see its distinct competitive edge. In my simple mind, it is a collage of various other popular concepts. I hope you don't mind I ask this: What are some of the major features of Gossett approach that loudly distinguish his approach from the crowded competitors' space?
davesaint86 725 posts msg #158806 - Ignore davesaint86	3/13/2022 8:31:49 PM Thanks for taking the time to respond. Hope you get what you're after from the one on one training. Ed S. Time will tell if it's worth it or not. He said once I'm done with the one-on ones he will be inviting me to be a (no cost) of a professional traders forum that he is a part of. It is my understanding that Steve Burns and Rayner Teo are also members along with many other professional traders. https://www.amazon.com/Steve-Burns/e/B00LMKQPUQ%3Fref=dbs_a_mng_rwt_scns_share
davesaint86 725 posts msg #158807 - Ignore davesaint86	3/13/2022 8:35:01 PM https://www.portfoliovisualizer.com/test-market-timing-model?s=y&coreSatellite=false&savedModelList=3-Weekly+Dual+Mom+47.41%25+SR%3D2.08&timingModel=4&timePeriod=4&startYear=1985&firstMonth=1&endYear=2022&lastMonth=12&calendarAligned=true&includeYTD=true&initialAmount=1000000&periodicAdjustment=0&adjustmentAmount=3000&inflationAdjusted=true&adjustmentPercentage=0.0&adjustmentFrequency=3&symbol=COST&symbols=QQQ%2CVGT%2CFDN%2CIWF%2CARKW%2CXLK%2CFTEC%2CVCR%2CMDY%2CDBC%2CXLP%2CXLE&singleAbsoluteMomentum=true&absoluteMomentumAsset=SPY&volatilityTarget=9.0&downsideVolatility=false&outOfMarketStartMonth=5&outOfMarketEndMonth=10&outOfMarketAssetType=2&outOfMarketAsset=IEF&movingAverageSignal=1&movingAverageType=1&multipleTimingPeriods=false&periodWeighting=2&windowSize=-1&windowSizeInDays=105&movingAverageType2=1&windowSize2=-1&windowSizeInDays2=135&excludePreviousMonth=false&normalizeReturns=false&volatilityWindowSize=0&volatilityWindowSizeInDays=20&assetsToHold=1&allocationWeights=1&riskControlType=1&riskWindowSize=-1&riskWindowSizeInDays=19&stopLossMode=2&stopLossThreshold=2.25&stopLossAssetType=1&rebalancePeriod=0&separateSignalAsset=true&signalAsset=SPY&tradeExecution=0&leverageType=0&leverageRatio=0.0&debtAmount=0&debtInterest=0.0&maintenanceMargin=25.0&leveragedBenchmark=false&comparedAllocation=-1&benchmark=-1&benchmarkSymbol=SPY&timingPeriods%5B0%5D=5&timingUnits%5B0%5D=2&timingWeights%5B0%5D=100&timingUnits%5B1%5D=2&timingWeights%5B1%5D=0&timingUnits%5B2%5D=2&timingWeights%5B2%5D=0&timingUnits%5B3%5D=2&timingWeights%5B3%5D=0&timingUnits%5B4%5D=2&timingWeights%5B4%5D=0&volatilityPeriodUnit=2&volatilityPeriodWeight=0
Cheese 1,374 posts msg #158808 - Ignore Cheese	3/13/2022 9:18:30 PM https://www.stockfetcher.com/forums/General-Discussion/Gossett-Trading-Mentoring-2-12-22-Review-of-last-week-s-stock-trades-potential-stock-trade-set-ups-for-the-upcoming-week/158585/20 ================================== @davesaint86 THANK YOU VERY MUCH.
nibor100 1,044 posts msg #158810 - Ignore nibor100	3/14/2022 2:13:53 AM @Cheese, I'm not particularly keen on Gossett's trading approach per see, but his general discipline, his results, and its like having a trading journal to review and study without any trading risk. Any tidbit I pick up hopefully will be useful and I'm also analyzing his actions and reasons for how he trades for logic plusses and minuses. In fact, in his older daily videos he even goes over other persons trades that kind of follow his approach yet in many ways trade differently than he does. It reinforces the idea that there are many reasons and ways to trade any given stock on any given day. More of a curiosity to me, especially since our forum has been slumbering a bit of late on trading ideas. Ed S.
Cheese 1,374 posts msg #158811 - Ignore Cheese	3/14/2022 10:57:56 AM https://www.stockfetcher.com/forums/General-Discussion/Gossett-Trading-Mentoring-2-12-22-Review-of-last-week-s-stock-trades-potential-stock-trade-set-ups-for-the-upcoming-week/158585/20 ================================== @nibor100 THANK YOU VERY MUCH Ed S. The discussion forum lull in the past few months was a wonderful time for me to re-read, review and re-learn, many posts including posts from you, davesaint86. and other sF greats.
davesaint86 725 posts msg #158812 - Ignore davesaint86	3/14/2022 11:06:23 AM Something else that is interesting about Gregg Gossett. He thinks his dad is DB Cooper. https://www.youtube.com/watch?v=5ZW4Q2HyRbE&t=835s

StockFetcher Forums · General Discussion · Gossett Trading & Mentoring - 2/12/22 - Review of last week's stock trades & potential stock trade set ups for the upcoming week

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