TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Rashid Garuba who wrote (12117)	12/11/1999 6:39:00 PM
From: Mike Sawyer	Read Replies (1) of 59879

Hey Rashid! Isn't TA fun?! When I was growing up I loved the game of chess. When I got into the computer field and started working on hardware and software problems I grew to love it because it was like a game of chess to me. Now I am heavy into understanding the way stocks move and the technical analysis that unlocks those secrets. What will my opponent do next? What will he do if I do such and such. What will I do if he does such and such. To me it is the ultimate game of chess. Once you master this ultimate game of chess, you are paid very well. Someday I hope to be as good as some of my TA-Heros. As for the 1 minute charts...yes, they are very volatile. On some stocks the 1min is hardly worth looking at. But if a stock has very good volume I find that the 1 minute chart can get me alerted to a possible change in direction before anything else. I agree that the lower time frames for a swing trader should only be used to confirm what he sees in the longer time frame charts. But I have also been finding that the 1 minute chart can be very useful for micro-trading on some volatile high flyer stocks. For instance, I have been paper trading DCLK and INKT for about 4 weeks. I have traded lots of 100 shares. I have almost been able to double my take on these stocks by using the 1min chart. For instance, when the price of the stock has risen $25 in one day I was able to take $46 off the table by playing it in and out on the 1min chart. The longer time frame charts gave me the overall direction so I knew which way the momentum was going to carry the price. But I was able to pull out when the indicators peaked and the Bollinger Bands confirmed a change was likely. I have not used ADX enough to understand it fully. That is one indicator that I need to find a good tutorial for. Any thoughts? Mike

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