SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Tech Stock Options
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tom Trader who wrote (42229)5/5/1998 11:59:00 AM
From: Patrick Slevin  Read Replies (4) of 58727
 
I have a formalized method which learned from another trader but mostly it is common sense and experience.

The formalized method provides me with an overall concept of how the daily pattern should play out....it is not always correct; it is at this point that experience takes over 100%. In addition there are always methods of looking at the trend with respect to noting where intraday MAs are at. Primarily I look at 5 minute bars with an occasional glance at 15 minute. Prior to the start of the day I look at 15 and 45 to get a feel from a more macro scenario.

So, while in the thick of things, so to speak, to answer your second question I primarily look at 5 minute charts to see the spikes.

When you say you were not successful at it some time ago...well my suggestion would be to start out with 2-lots or something that would not make the early losses "sting". In any event. If you are net long anyway from the position trade, the advantage you have is something a daytrader finds to be the worst nightmare....s/he bails out too soon and the market rolls up without them. That's why most days I have 1 small loser. I trade in 4-lots and then leave 2 hanging around to see if there is a late spike in my direction. You don't need to do that.

So in essence, you could put on 2 and not be particularly worried about grabbing a point. After all, if the market keeps going up you are still on board.

Before trying it, set up a screen with 5 minute bars, throw on 2 MAs, and watch the patterns unfold for a day or two until you get a feel for the motion. As I say; you can't win 'em all. You just want to get a feel as to how to win most of them.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News