Just finished reading your post sounds interesting, the way you approach your entry and exit signals.
Sounds to me that you also may build formulas. This is what I Do, to a certain extent.
It would be interesting to set up a dialogue with you.
Dialogue away! I'd love to hear your opinions on potential swing trades, your formulas, how you find your trades, etc. I would suggest doing it right here on the forum. Others may be interested or have input that would help us all make some money.
Any interesting stocks your looking at this week? I'm currently short MEA and VTO and long IDT and BE. I'm looking at NWY, MALL, EXEL, SVNT, PRXI, SMSI, F, EPAX, ANAD, SMTC, SIX, and EFII.
Talk to you later,
Mike, thanks for the quick response. I am a hit and run trader. Do not stay in stock no longer than a day. I am just in and out most of the time just one trade a day.
I get my picks from the premarket hours versus the low, high and close from the previous day in percentage differences.
This is from a formula that I have built. I can also set the formula for what volume I'm looking for, what range in price. I'm looking for, and also the range for that day with a look back period of 14 days.
If one stops and think about it you can see the advantage, one would have.
Example: if a stock close yesterday at $15 and this morning in premarket hours. It had a 10% decrease from the close of yesterday something has happened to that stock.
In reality what the formula does is look for gap's up or down, but with a set percentage, volume, price and a average true range with a 14 day look- back.
Most of my trades are in the short position.
The other day I posted a stock, and I think the symbol was (jrjc). It came from the formula. It had a range of $26 through 23.12. It was a great short.
Chuck I'm learning a lot from you. Thanks
I take it your system is set up just for shorts, what broker do you prefer.
Lockman, nice to hear that you're pulling in some things from my post.
To answer your first question about the formula. It is set up for short and long positions. But with the market like it is at this point. I'm staying away from any long position.
I have seen some nice long positions indicated in my formula. But as I said, the market is just too crazy. It may be too crazy to stay in any-way.
I use Ameritrade and would not go anywhere else.
Sorry I haven't gotten back with you sooner.
If you have any questions feel free to ask. I really enjoy chit/chating.