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CHART TIME PERIODS
1 minute 2 day, 1 minute one day, 3 minutes, 5 minutes, 10 minutes, 15
minutes, 30 minutes and 60 minutes of which ONLY 2 CHARTS NEED be up at
any one time! In standard use, and after a few minutes past the open, we
usually have our main chart and another chart next to it with the next
smaller time period on it as a "warning system". we will
probably be ending that practice, as it doesn't seem to be needed at all !
CHART INDICATORS: ema 9, ema13, pivot points and prior close.
INDICATORS trix, fisher transform, momentum, RSI, Williams R%, CCI with
histogram. not necessary, but often visible as the online chat is
presently experimenting with the elliot oscillator, MFI and bressert dss
as adjuncts or replacements for the RSI indicator.
INDICATOR SETTINGS presently, only one indicator --- Momentum --- has
multiple settings for the multiple time frames and these settings and time
frames MUST always be adhered to!
01 minute through 10 minute -- 25/20 9:30 am (est)
15 minute -- 25/20 from 12 noon.
30 minute-- 12/10 from 2 o’clock
60 minute -- 6/5 from 3 o’clock
trix 3/5
fisher transform 6/4
Williams R% 10
RSI 6/1
the "classic" method is an easy going trading system based
partly on the general 3 day rule of stock rallies which states that one
NEVER buys on day 3 of a stocks rally. day one and day two, but not day
three ! (there will ALWAYS be exceptions, but on average we are SELLERS on
day 3, not buyers !) it is a day trading system based on a stocks
MOMENTUM, which has proven itself phenomenally reliable (since a stocks
movement is basically just momentum and is what we use to guide us through
a days trade.) and finally, it is a laid back, "buy one stock and see
it through to the end of its movement", type of system ! it is slow
and steady and brings consistent earnings in the 10 to 20% range daily,
with amazingly low risk as long as the instructions are followed !
Additionally, it is really super at detecting what will be a gap up the
following trading day !
Should you like to dash from stock to stock, taking MANY little bites and
then moving on -- "scalping" as you go, the "rumpled"
version is more the one you want !
ENTRY METHOD: we use the valchange% indicator to notify us of stocks that
are moving strongly out of the gate and it gives this information by
giving a numerical ranking to each stock! but valchange only tells us the
stock is moving so we need to determine what day (one, two or three) this
movement is taking place on. for this, there are two additional charting
packages on qt --- "historic charts"(by Prophet) and "big
charts" and normally we quickly look at the "historic
charts" and count the dark OHLC bars prior to today’s action. if
there are no previous bars, or only one, we check to see how much
"headroom " or room available for the stock to move UP before it
hits resistance there is by looking at the LINEAR REGRESSION CHANNEL to
see how far the stock can move upwards, and we very quickly check the
Williams R % indicator to see if its pointing up ! (no numbers, no nothing
--- just up) (the williams can be replaced by the Fast Stochastics at the
same setting -- they both show the same movement and the FS has a SIGNAL
line, which the williams does not have)
By: rob
rens
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