jrbikes
624 posts
msg #54805
- Ignore jrbikes
modified |
9/14/2007 9:58:07 PM
I read Tools and Tactics of the master day trader some time ago, got me hooked on this stock stuff, anyway, the way I understood it, the whole (or most)of the trading strategy is based on a 3 to 5 bar drop, then when the price trades above the previous days high, you enter, and then I realized something, to illustrate this point, look at the chart of TARR, you will see this exact pattern, on a one month chart, and look what happened, it went up, usually you look for a retracement to be no more than 40%, I used this strategy to trade ARSC a couple of years ago (maybe one, I cant remember) and it worked, of course you can trade this strategy on any time frame, daily of course, with the 1,5,15,30 minute chart, and it has a higher probability of succes because you are entering the trade when the price is rising, I also used this on ENR (energy conversion devices), check it out and see what you think!
also you cant switch time frames, if you enter on a daily chart, you sell on daily chart, same goes for any time frame chart!
OH yeah, and you want this 3 to 5 bar drop to be after a previous high, TARR illustrates this point rather well, it was a entry on that pattern, no doubt what so ever!
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karennma
8,057 posts
msg #54848
- Ignore karennma |
9/16/2007 9:35:19 PM
hey jr:
here's another penny stock for ya'.
CXTIE
http://www.americanbulls.com/StockPage.asp?CompanyTicker=CXTIE&MarketTicker=OTC&TYP=S
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jrbikes
624 posts
msg #54849
- Ignore jrbikes
modified |
9/16/2007 9:49:24 PM
yeah, Ive seen it, I think 13th floor mentioned it a few days ago, or maybe it was the other night, I cant remember, pulled it up on a filter earlier, hey, does anyone feel like telling me how to make filters clickable in the threads? I have done a search and cant find it, help please!
IMDS
I found that American Bulls a few years ago, stock sites EVERYWHERE!
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karennma
8,057 posts
msg #54850
- Ignore karennma |
9/16/2007 9:57:41 PM
jr: i think u just have to use these []
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jrbikes
624 posts
msg #54851
- Ignore jrbikes
modified |
9/16/2007 9:59:43 PM
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johnpaulca
12,036 posts
msg #54853
- Ignore johnpaulca |
9/16/2007 10:10:35 PM
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jrbikes
624 posts
msg #54854
- Ignore jrbikes
modified |
9/16/2007 10:11:32 PM
ah haaaaaaaaaa, I figured it out!
weeeeeeeeee!
Thanks Karennma, and Mr. John
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karennma
8,057 posts
msg #54855
- Ignore karennma |
9/16/2007 10:14:13 PM
karennma
- Edit message 9/16/2007 10:03:52 PM
jrbikes
- Ignore jrbikes
modified 9/14/2007 9:58:07 PM
I read Tools and Tactics of the master day trader some time ago, got me hooked on this stock stuff, anyway, the way I understood it, the whole (or most)of the trading strategy is based on a 3 to 5 bar drop, then when the price trades above the previous days high, you enter, and then I realized something, to illustrate this point, look at the chart of TARR, you will see this exact pattern, on a one month chart, frame chart!
OH yeah, and you want this 3 to 5 bar drop to be after a previous high, TARR illustrates this point rather well, it was a entry on that pattern, no doubt what so ever!
===========================
Ya' know .. I never see ads on SF, but earlier tonite I did.
One was for some software you can program to do exactly what you've just explained. I just checked my URL history, but I can't find the website.
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jrbikes
624 posts
msg #54856
- Ignore jrbikes
modified |
9/16/2007 10:18:55 PM
you can see that pattern quite often, stockfetcher has the User Definable Candle Patterns, but it takes so long to go through them!
I just seen it on one of the stocks from that filter!
its NFLD
Traders Edge, I will check it out!
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karennma
8,057 posts
msg #54857
- Ignore karennma |
9/16/2007 10:19:54 PM
There it is!
http://www.traders-edge.com/
See the one that says, "Pattern based on up and down days"
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