Umm, a journal

I was so used to watching the spoo lead on the downside while the naz stood by strong that today's SOX-led reversal seemed like a refreshing return to the norm.
 

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Hopefully the trading results will catch up to my chart-making skills sometime soon :(

Any advice and criticisms you guys can offer on any aspect of this strategy -- entries/exits, stops, time horizons -- please feel free to comment. For example: "Dude, you're just market maker fodder!" and the like . . .
 
Yeah TA, certain days it feels like I'd could do better throwing the level 2 out the window :D

There will be times when this strategy can find low-risk entries for home run trades, and my preference is to risk the small profit for the larger move -- just not finding my rhythm as of yet for this method.
 
I have been trading for 3 years now, and i
just use the charts, more than level 2.

I set my intraday chart up on 1 min,
use moving averages of 5 and 15, and 50.
I also use 5 minute chart for direction,
trend also, see if buyers or sellers.

When the stocks begin to go up, the 5 min
moving average, rises above 15 min avg,,,
and using a candle chart the bars stay above
the 5 min moving average. I use esignal for
charts and IB a broker. After the stock has run
for .40 or more, i will look at time and sales, and the chart as an indication on gettine out.

When the 5 min moving average, crosses the
15 min avg, usually means the stock is going
down, and is also used as short.

Also, later in the day i look for stocks that
are getting ready to fall below the 50 day moving
average, and short them. Yesterday shorted
IDPH at around 1:05 pm. at 500 shares @ 40
and coverd the short 20 minutes later for
a .70 gain.

Favorit stocks i trade are KLAC, QLGC, EBAY,
LLTC, MXIM, IDPH, BGEN, AMGN, QCOM.

Hope that helps, i may post a few comments,trades here today so you can see what i mean if its ok.


Good Luck,

Pat
 
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