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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Wade who wrote (1281)	2/1/2004 1:44:13 PM
From: Andrew	Respond to of 29622

Hi Wade, When I first started actively daytrading I used 5 min and 10 min charts with MACD mainly. Over the last few years I started looking at longer time frames on the intraday mainly the 30 min and 60 min 20 day charts. This removed a lot of noise while I still look at shorter time frames to get more precise TA for entry and exit. I've known about wedges for a while but it wasn't until about a year ago when I read an article on using them for short term trading that I looked at wedges seriously. This really opened my eyes. If you look at a weekly chart of a stock you will find some wedges. If you look at a daily chart you can find smaller wedges within those larger ones on the weekly. Now I was looking at wedges in 60 min all the way down to 5 min. Wedges within wedges within wedges, they are everywhere. If you can draw trendlines and start spotting wedges you will see my point clearly. There are tiny wedges all over the place on a 5 min chart. Now my TA has evolved to what I outlined in my previous post. I'm no longer a "daytrader" but more of a swing trader since I hold my short term positions sometimes for days or longer. A very boring trading system that is simple. No weird indicators, just simple old school trendlines and MACD and lots of discipline. Oh yeah, just try exiting a trade when you clip 50 cents like on the previous Goldcorp example. It takes a lot of strength. I always get this little voice in my head telling me to hang in this is the big rally <G>. Sometimes I wish I had someone standing behind me with a 2x4 in hand to help my disciple <G> Anyone want the job? LOL