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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (10651)	5/8/1999 10:23:00 AM
From: Herm	Read Replies (1) \| Respond to of 14162

Well Tuck, Very interesting TA discovery Tuck! CCing with a 60-minute price ticks along with the BB and RSI may very well offer a better tool for shorter term aggressive CCing. That is the beauty of this forum and the tweaking process. I never considered the one or two day chart and a 1 hour or 1/2 hour tick against a BB and RSI. I would imagine that using the OBV on such a short time span may be of better value over MACD and straight volume information. You can set that at BigCharts.com below. Now, if you can get live feeds with this data you are in business for daytrading CCs provided there is enough open interest on the stock. bigcharts.com We will have to take a much closer look next week. Very interesting! Thanks Tuck.

To: tuck who wrote (10651)	5/8/1999 1:48:00 PM
From: David Wright	Read Replies (1) \| Respond to of 14162

Tuck, I feel that most successful TA trading comes from learning how stock prices respond to the indicators you see evolving on the screen. To gain a sense of this, it is important that you stick to specific time frames to use for consistent decision-making. Even at 15 days, you are essentially position, or swing trading, and you should stick with your day chart to tell you when a stock is prime to make the move you want. Once I "qualify" a stock like that, then I switch to either a 5 minute, or a 15 minute chart, to day trade into it on the day I decide to enter. The rule of thumb on chart timing for day trading is to use the period that fits your decision making and brokerage connection time frame. It makes little sense to trade off a 5 minute chart if you have delayed quotes, and have to call your broker to make a trade. Without either real-time charts, or a real-time streamer, you should use 30 minute to one hour charts. Even on that day, though, I only trade if I like what I see, in the context of the decision I made off the day chart. Stocks often gap at the open...and if you trade into this gap, you can really change the stock/cc profile a lot. Never force a trade. Stick with your strategy..if the stock doesn't cooperate, there's always another day, and another trade. My approach is now evolving to the short time horizons. But that is because I have the time and the work situation to watch a real-time quote streamer all the time, and to react right away to deal with problems. I do that because I use margin a lot, and I look to compound my gains immediately by putting them right back into the market. I also am not a good options trader (yet), so other than using protective puts at key times like earnings announcement time, or if I feel real exposed because of a stock's fundamentals, I don't do sideshows. Stick with WINs if you can't do this type of day trader approach, because you can killed when a stock tanks if you can't react the moment it does. WINs is a fabulous strategy, especially with the emphasis on fundamentals and position trading using BB, and a confirming oscillator like RSI. Good Trading Dave