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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (6861)	12/20/2001 3:48:36 AM
From: Don Pueblo	Read Replies (2) \| Respond to of 23786

It brings up a good point about something I have been studying for about two years now. Notice on the 15-minute chart siliconinvestor.com that my proprietary patterns are choppy - the top on 12/18 was followed by a picture-perfect invalidation of the pattern late in the day. I don't go for invalidations. <G> The 60-minute chart on 12/3 -12/10 shows a great pattern, siliconinvestor.com but the retracement in the early afternoon of 12/10 would probably have shaken me out of a position trade on the index right there. The interesting thing is this: I watch the 60-minute bar for position trades. That's how I made that WAG call a few days ago, and that's how I figured you won on Monday (I believe it was Monday). If I play a short entry off the shorter-term pattern and at the same time, play that move off the longer-term chart, I can calculate my reward-risk on a short trade really easily - all by using the retracement rules for the pattern. It's working really, really well. So much so that if I'm wrong, I almost always break even at worst. Better than Vegas! (note to lurkers: the charts you see when you click on that link are not the charts I use, they are your SI default settings - [(C)2001 Pirate Trading heh heh]