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To: isopatch who wrote (92884)	7/31/2001 5:09:23 AM
From: chowder	Read Replies (2) \| Respond to of 95453

Hello Iso! Sorry for the delay. I hurt my back last week and I haven't been able to sleep much. The pain was been unbearable so I decided to take a muscle relaxer the doctor prescribed. It knocked me out for 12 hours. That's more sleep than I've had in a week. >> So why don't you go into detail about how you seem to post better results than just about anybody else I've seen on other threads. << I don't know that my results have been better than most. It seems a lot of people are reluctant to post their trades. I can understand why though, and I don't blame them. I made a conscious effort this year to change from investing via the fundamentals to short term trading. I made this decision because I think I needed to adjust to what the market was giving us. I believe we must use different trading vehicles based on different market conditions. I don't mind posting my trades because humiliation is the best motivator to help me learn and improve more quickly. I don't mind looking foolish for a few days as opposed to being ignorant for a lifetime. My philosophy for short term trading involves taking small gains again, again and again. I look for 7-8% profits from 1-5 days max. I'll take less if that's all the market will give me. Stop losses have been cut to 2-3%. I base all of my ST trading on technical analysis, trying to catch a small wave of momentum. I try to make a friend of the trend as opposed to fighting it and trying to guess the bottom. I use Relative Strength, Stochastics and MACD as my indicators. I look for stocks that have been in a long downtrend. I'm looking to take positions as they start to bounce from being oversold. Here's how I do that. Looking at the relative strength indicator, anything below 30 is oversold. Looking at the stochastic indicator, anything below 20 is oversold. I'm looking for stocks that show the RSI and Sto's crossing up and over the 30 line and 20 line respectively. I'm looking for the MACD Indicator to be crossing up and over the 9 day EMA line. This gives me three indicators that have turned from negative to positive, at the same time, which is important, and indicates I may be able to get a short term 7-8% profit. If the indicators turn back down, I get out immediately and regroup. The $HUI would not qualify under my system as all the indicators are heading down and look like they are going to continue down. The indicators have not reached oversold yet either. (Although we're not trading the HUI, I'm just using their technical's as an example.) stockcharts.com[h,a]daclyymy[pb50!b200!b25!b9!f][vc60][iut!Ub14!Ua12,26,9!Lh14,3] Now here's a post I made earlier tonight, showing what I am looking for when ST trading. Message 16148233 I also use candlesticks to help identify possible trend reversals. Candlesticks are used mostly with opening and closing prices. I was hoping to find a tool to help with intraday, to help avoid waiting on a closing price. I was hoping you, or someone else, might be able to identify what it is you are looking for when reading the tape. I understand the analysis is subjective, but I thought they'd be something specific you'd be looking at, something that would catch your eye and make you pay closer attention. dabum