Trading stocks with the 15 min chart

hey man, having fun with ya,

I applaud you honesty in out lining this strategy,
hey, how does it work again?

anyways, trading off the 15min eliminates a number of newbie mistakes:
1) jumping out too soon
2) not letting their profits run
3) not letting enough time elapse to see whether they're profitable or not

4) allows for control over ones losses, because invariably after the shorts "hammer" a stock down, it breathes again, and usually within short intervals of either 15min - 30 mins.

cheers
 
Quote from limitdown:

I applaud you honesty in out lining this strategy,
hey, how does it work again?
More...
Shhhhh, I don't know. I'm making it up as I go along!

limit' I thought your previous post was very funny. That bit about leaving the room is hilarious.

I'm sorry I wasn't clear on my post which I deleted in case others were unclear too. I was making a point that a simple strategy doesn't need a lot of explanation. It wasn't a rebuttal to you.

Hey limit', you should post more man. I have read a lot of your stuff. You have been around a long time and there are a lot of newer traders on the board these days that could benefit from your wisdom.

Just a thought... no pressure.
 
I will close this thread here. There is really nothing more to add to it. The method is now long. As you can see, there is some discretion, such as how much commitment you will require of price closing across the moving average. And when to take a profit. But clearly the method has put you into some nice profit positions during a terrible market.

One thing I want to point out. Notice that the mechanical profit is fairly close to the profit one would have taken after the rocket move down, as I mentioned earlier in the thread. This trade really demonstrated the point well. A number of days transpired (opportunity cost) with your money just sitting there. You will notice this occurs so many times, a rocket move followed by consolidation, Nothing new there right?

Good luck and good trading! And please do not hesitate to PM me if you have any questions.
 
Okay I wanted to open this thread again because I think it is important to point out just how profitable a truly simple method can be.

Take a look at CSCO on the 15 minute chart with a 200 sma plotted. Be sure to switch back and forth between your line chart and bar/candle chart. The period between midday of the 14th thru midday of the 15th looks pretty ominous and seems to support the argument about ma's and whipsaws.... WHEN LOOKING AT BARS!

But the line chart tells a different story. Using the very simple methods described, you have about 80 cents of profit on this trade, minus the little bit of whippage from 14 and 15.

 
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