Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Mike Milde who wrote (1183)	6/22/1998 1:02:00 PM
From: ratan lal	Read Replies (3) of 2120

Mike - its quite simple. On any stock look at 3 charts. 30-min, 5-min and 1-tick. When the MA on the 30-min chart moves up, and the the MA on the 5-min chart moves up, then wait for the 1-tick chart to move in the up direction to place a buy order. Even though the price of teh stock will fluctuate, the 1-tick will be random but the 5-min chart will continue in its path slowly but surely till it reaches its peak. Thats you signal to sell. Example : YHOO 30-min and 5-min charts were up from Friday. Around 9:40 this morn the 1-tick MA turned up (at 130 5/8) to give you an entry point. So far the 5-min chart has not turned although it seems to have reached its top (at 135) and will 'probably' move down. You have a 4 1/2 point profit. Take it; even though YHOO may continu going further up. Check out MRK also. It did the same. and the 5-min chart in that alos is at the top. take teh profit.

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