Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Ed Person who wrote (18733)	6/28/1998 12:34:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

ED-- When we had our meeting in NY, the first Idea meeting we did discuss a very basic issue, always if you are day trader work on one minute SPX chart and after an hour draw a channel on the top of minute range and on the bottom of the range whenever the one minute range breaks the price channel it is 70/30 percent chance that you can place a quick bet on the side of the break with a stop loss some ticks below if it is long trade at the bottom of the channel that is day's low and on the top of the channel some ticks higher if it is short trade. This has helped tremendously. Throw exotic junk away and go for this suport and resistance approach and moving average, time and time again I have seen people shorting when composite was sitting at 200 days MA. Always 'keep it simple' look at clear signals, if anyone is ignoring a bounce of 200days and breaking of 20 days MA on its way up because his meta stock tells him to do that has no clue