DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: - who wrote (844)	6/16/1999 12:54:00 PM
From: Rick Faurot	Read Replies (1) of 18137

<<Hey, Rick how about sharing some more of the specifics of what you're trying with us? Maybe we'll learn something...>> Gladly. I use 1 min and 5 min charts linked to a L2 window on my Realtick screen. After reading the Bollinger Bands tutorial Alan posted (http://www.bollingerbands.com/bb_tutorial_1.asp) I added 20 period Bollinger Bands to both charts. Also using 5/15/30 MAs as well as 2 stochs and RSI. Today watching CMGI steadily I see that it bounces off the upper and lower BB lines on the 1 min chart very consistently. For likely duration of move and evaluation of the percentage on the trade, I look at the 5 min chart. Also keep an eye out for the status of MA crosses. These are better indicators on the 5 min chart today. CMGI has consistently bounced off both BBs contrary to its 1 min MA crosses, but the duration of the moves is definitely confined by the MA cross condition. I am taking into account that we have a trending market situation short term. Steady volume and a market trend make the indicators easier to read <G> Hope that helps. Observations from a newbie!! Rick Ps. Where is this S&P chatroom you are mentioning? Don't worry, I'd never open my trap around pros!

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