Tips for using Right Side of the Chart.com
Instructional Videos: Various instructional videos on how best to utilize the various features of the site can be found in the side bar on the right-hand side of this page. (April 10, 2013 update: We are currently in the process of implementing a new and improved system for notifications of new posts via email. A new instructional video will be posted as soon as the improvements are added to the site but until then, you can still subscribe to receive immediate notifications of all new posts by email via the subscription box on the home page).
Symbol Tags: There is a drop-down box titled “Posts by Symbol” towards the bottom of the column on the right of each page. Clicking on a tag will bring up all posts made containing that tag (stock, etf, or index). Clicking on the tag labeled “$SPX/SPY”, for example, will bring up a chronological list of posts with charts or commentary about the S&P500 or any related trading vehicle such as the SPY (tracking etf), the ES (e-mini futures contract), etc… Shortcut: Click on the drop-down menu to open, then click the first letter of the ticker symbol that you wish to access to advance forward. e.g.- To access XLF (the financials etf), type the letter “X”, then scroll down to “XLF” and click to view all posts on that etf).
HOME PAGE: The Home Page for Right Side of the Chart.com contains the main blog. All posts, on any topic whether trade ideas, market commentary, trading tips, etc.. will all appear in chronological order here. I welcome any feedback or comments on these posts and I will do my best to reply at my earliest convenience. Questions or comments can be sent to me via e-mail the Contact link found under the Resources tab.
MARKET COMMENTARY: The Market Commentary section shows all posts from both the General Market Commentary as well as posts from the Gold and Commodities section, as both areas are inter-related. However, I have also sub-categorized these posts into a General Market Commentary section and a Gold and Commodities section. The General Market Commentary section focuses primarily on US and Global stock markets and their key sectors as well as bonds, interest rates, currencies, etc.. The Gold and Commodities section focuses more on charts and analysis of precious metals such as gold and silver as well commodities such as oil, copper, etc… I have also added a sub-section for Intraday Market Analysis, which included charts and commentary geared towards the more active trader. e.g,- 1, 5, & 30 minute chart patterns, etc…
ACRONYMS/SHORT-HAND: For purposes of brevity, I will often use acronyms and short-hand when composing a post or a chart. Although the following list is far from comprehensive, a quick Google search will usually translate these terms for you. However, here is a short-list of some of the terms used here often:
R/R = Risk/Reward, referring to the expected risk vs. reward ratio on a trade. e.g.- if the R/R is 4:1, then your profit target would be, say $4, while your stop-loss order is $1 below your entry price (you are risking $1 to make $4). Most traders would look for an R/R of at least 3:1.
DYODD- Do Your Own Due Diligence. You are always responsible for your own trades. Do not assume that any trade ideas here have been scrubbed for earnings reports, pump-and-dump schemes, or any other number of potential red flags that may be easily uncovered with a little research. You are 100% responsible for every trade you make, no matter what you read here or elsewhere.
MM’s- Market Makers. These are the guys (or entities and even machines) that love to run your stops, especially on the more thinly traded stocks. How to avoid getting your stop-loss order clipped and watching your stock turn and run is a whole other section however, several posts addressing this issue have been assigned to the Trading Tips category, which can be found under the Resources tab in the top menu of the site.
HFT- High Frequency Trading. Sub-catergory: The Machines or “bots”- ‘Bots is short for robots, aka “the machines”, a term often used for the HFT computers.
T1, T2, T3, etc…- Targets. T1 would my first price target on triggered (active) trade. Sometimes T1 will be my primary target (where I plan to take all or most profits on the trade, if reached), and sometimes I might have a higher target as where I think the stock will go before any meaningful bounce or reversal. Regardless, each target level is an area I view to be significant support or resistance and therefore, the stock is likely to at least pause there, or continue to the next target if that level is surpassed. I will often micro-manage my positions off these targets (temporarily close or reverse a trade upon reaching the target with the intention of re-entering the original swing-trade after a reaction off that level). More on price target methodology and applications can be found by clicking here.
S1, S2..R1, R2, etc… – Support or Resistance Levels. Typically, I will designate significant levels where I think that a trade might find support or resistance yet I believe it will only be a very minor or short-lived bounce, if any, before prices continue towards the next price target.
Click here to view additional tips on how to best utilize all the features available on Right Side of the Chart. Some of these posts are specific tips on using the site while others will contain a brief idea or suggestion within the post.