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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (247)	2/24/2001 5:14:22 PM
From: Timelord	Read Replies (1) \| Respond to of 23153

Hi guys - This is a great idea. I posted this on the SD thread this morning if anyone is interested in my trading tools. I edited out some sarcastic comments to one of our buddies there <g>. <<I had always assumed that anyone who trades seriously at the very least subscribes to a live data feed and has software that you can configure to provide the data you need to trade. Although I do remember trying to trade using Quote.com's online delayed charts, and banging on my brokers live quote request to figure out what the current price was. Talk about stupid, especially with the then high flying internut stocks. But that was another lifetime. As I've posted in the past, I use Qcharts from Quote.com, which runs about $90+ per month, but I know there are a number of other good packages on the market. Since a picture is worth a thousand words, this is how I have my screen set-up: y42.photos.yahoo.com. Now to illustrate what I was trying to describe to Quehubo007 in this earlier post. Message 15386033 An OSX daily chart with 50, 100, 200 dma for reference: y42.photos.yahoo.com. And the daily's with 3 minute candlesticks during this down trend: y42.photos.yahoo.com. y42.photos.yahoo.com. y42.photos.yahoo.com. y42.photos.yahoo.com. y42.photos.yahoo.com. I've used that morning run several times since the down trend started around the first of Feb as an opportunity to short. Of course, I always have an exit point and stop loss in case the chart doesn't cooperate, and there is always the problem of not getting a fill at your price. That's where the discipline comes in not to chase price, or to get frustrated and try forcing a position. I've lost money, or worse, gotten stuck with losing positions so many times doing that I don't want to count. Still do, but I'm working on it <g>. Right in the middle of this were two white candle days where the pattern took longer to develop (2-13), or looked like a change (2-14). Of course, going long 2-14 would have been painful on 2-15 as the down trend resumed: y42.photos.yahoo.com. y42.photos.yahoo.com. y42.photos.yahoo.com. Here's the opposite in an uptrend, with that buying opportunity to go long after the morning sell-off about mid-morning: y42.photos.yahoo.com. y42.photos.yahoo.com. y42.photos.yahoo.com. Of course in hind sight, this looks like an obvious trend change, but hard to recognize at the time other than the fact that your easy trades suddenly become hard and you have to use your stop losses a lot: y42.photos.yahoo.com. I'm not trying to talk anyone into a trading system because I'm the first to say trading is completely individual and trying to trade based on what others tell you is a losing proposition. Some of you can use these and see your own patterns and get ideas and those are the people this is for. Good trading to all.>> Alex