T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: ynot who wrote (865)	9/8/1999 2:24:00 PM
From: keith massey	Read Replies (1) of 5053

*OT* Every stock and market has there own pattern of trading. This is largely due to the fact that the same players are playing the same stocks and each group of trades has a set of signals that they trade off. So a signal that works great on one stock/future may not work great for another. Of course there are standard patterns that work well on almost any stock but each stock has its own special flavour. A good example is the S&P futures. When I started trading them I used patterns and set-ups that had always work well on most individual liquid stocks. However I quickly learned that these don't work on the S&P's. Where an ascending triangle break very often results in a good move in individual stocks on the S&P's these breaks are very often floor traders running stops and then quickly moving the futures the other direction leaving you trapped. Template matching only works well for liquid stock that have good daily moves. A basic example... During the past two years you find several cases in which an individual stock forms a three-inside-up candle formation on the 5 minute chart right above its period 20EMA and near its two day low pivot point with higher than normally volume on the first down bar. In 21 out of 25 times you have found this formation on this stock a good rally happens right off the last bar. If this formation happens again the odds are now in your favour that a rally will happen with a stop just below the second bar. This is a basic example of template matching. On another stock you may find that this formation does not work as well. Best Regards KEITH

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