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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: wilywilly who wrote (38919)	3/15/2007 9:31:50 AM
From: Ken Adams	Read Replies (1) \| Respond to of 39683

Bill, sorry for the delay in getting back. Yes I still trade off the 5 minute candles. I'm currently using a 5ema, 10sma and a 21sma. My most successful trades come when all 3 of these agree. I usually enter when the 5 crosses the 10 (either direction). This will usually occur before the 21 agrees, so I take a guess at what's gonna happen. I don't use OBV anymore. Just price. The one thing I've really learned the expensive way is to exit immediately if I'm wrong. I sometimes enter and exit 2 or 3 times before getting it right. Losing a dime or two is painless. In fast markets, limiting a loss to this small amount is difficult. I always set up a buy and a sell ahead of doing anything. One click gets me into or out of a position.