Classic Triangle Breakdown-- AT

inandlong · Aug 25, 2003

Mike I was going to get that service once. I didn't know you could scan for patterns. Wow! Is it easy to set up?

Trend Fader · Aug 25, 2003

Quote from inandlong:

Mike I was going to get that service once. I didn't know you could scan for patterns. Wow! Is it easy to set up?

If you are an EOD trader.. I wouldnt recommend any other program except for Tc2000 for scanning. I use Tc2000 and esignal + investor/RT.

Here is the tc2000 PCF for breakdown volume shorts:

AVGV50 >= 1000 AND C <= O AND C <= L1 AND C < C1 AND C - L <= .50 * (H - L) AND C >= 5 AND (C <= MINL10.1) AND ((V >= .95 * AVGV50) OR (V >= 1 * AVGV20)) AND C >= 5 AND L1 >= MINL10.2

Trend Fader · Aug 25, 2003

This scan will pick up every meaningfull breakdown in the market.

Then you just scroll through the charts.. and find something interesting. I usually put the good candidates in esignal or investor/rt and monitor it in realtime.

--MIKE

Merc · Aug 25, 2003

Quote from Trend Fader:

If you are an EOD trader.. I wouldnt recommend any other program except for Tc2000 for scanning. I use Tc2000 and esignal + investor/RT.

Here is the tc2000 PCF for breakdown volume shorts:

AVGV50 >= 1000 AND C <= O AND C <= L1 AND C < C1 AND C - L <= .50 * (H - L) AND C >= 5 AND (C <= MINL10.1) AND ((V >= .95 * AVGV50) OR (V >= 1 * AVGV20)) AND C >= 5 AND L1 >= MINL10.2

Did you scan EOD or real time for current setup?

Thanks.

Trend Fader · Aug 25, 2003

Quote from Merc:

Did you scan EOD or real time for current setup?

Thanks.

I start scaning the market usually around lunch time. From then on I scan the market every 30min or hour until closing bell.. depending on how many setups I am seeing.

The scan I use shows me stocks that have already broke down. I dont have a scan that shows stocks setting up right before they breakdown.. becasue I think scans like those are useless... I like to see whats going on presently.. I dont anticipate things because I am usually no better than 50/50.

If you run a scan like mine you have to enter near the close... espeicaly for breakouts because they gap frequently the next day... and you will miss nice moves. You cant run this scan after the trading day.. and try to enter at the open.. because if you have 3 stocks on your list to enter.. chances are the strongest one will have to be missed because it gapped in the AM. Thats one of the things I learned throughout the years swinging.

--MIKE

Merc · Sep 2, 2003

Hi TrendFader,

How did you manage this trade?
Where did you get out?
I guess it didn't perform as anticipated, it broke out today.

Trend Fader · Sep 2, 2003

I lightened up the position a bit... because the market is hitting highs and is in runaway mode.

My stop is still at 47.01 which never got hit yet.

Although on this particular trade I am at a loss.. overall my account is profitable because I used AT as a shorting hedge... I have way to many long right now.. and have started booking some nice profits. I am primarily a trend follower.. and most of the nice setups are to the longside.

--MIKE

Merc · Sep 3, 2003

Quote from Trend Fader:

I lightened up the position a bit... because the market is hitting highs and is in runaway mode.

My stop is still at 47.01 which never got hit yet.

Although on this particular trade I am at a loss.. overall my account is profitable because I used AT as a shorting hedge... I have way to many long right now.. and have started booking some nice profits. I am primarily a trend follower.. and most of the nice setups are to the longside.

--MIKE

But why 47.01 stop.
I would prefer in 45.6-45.9 area.

Trend Fader · Sep 3, 2003

Quote from Merc:

But why 47.01 stop.
I would prefer in 45.6-45.9 area.

My stop was hit.

You would prefer that.. but I didnt.

-MIKE