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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: sammy levy who wrote (55614)	6/4/2006 3:46:45 PM
From: lexi2004	Read Replies (1) \| Respond to of 59879

Sammy, Good for you! Glad you got it. Do you like it? I know this isn't easy to catch for I reread it and marked it several times before I felt comfortable with it. Okay, this is how I'd do it: 1. Select the stock you're watching and let 10 minutes pass then mark the high of that time period and the low of that time period on the chart. That's the OPENING RANGE. 2. Then take 1/2 of that time (5 minutes) and if it trades above the opening range at anytime during the day, you wait for it to trade above it for 5 minutes. Once it does, you mark the high of that range. Here's an example: For the first 10 minutes of the day the stock trades between 10 - 10.50, that would be your opening range. Then when it trades above 10.50 you look for it to stay above that for 5 minutes. Let's say it trades from 10.50 to 10.65....you would put a line on your chart at 10.65 and if the stock passes the 10.65 you would enter...that 10.66 would be your point A. Your stop would be below the bottom of the opening range.(9.99 or so) That's how you pick longs...for shorts it's the reverse. I've explained it to the best of my knowledge. Hope it helps you. In addition, let's say you don't find your stock at beginning of day, when you have a break, bring up charts and after awhile you'll begin to tell right off it the chart fits your criteria to enter or not. His strategy for revolving pivots for longer-term stops I think is good too. As you can tell, I really like THE LOGICAL TRADER. Lexi