sfsamperi.blogspot.com

You have to survive

You have to survive
Every day is a battle, survival is rule #1

Wednesday, August 18, 2010

overall the trades im holding are looking like a mixed bag. I was stopped out of FAST, MMM and TSL today. small losses but still proportional to range. What im still holding either looks really good or has a decent chance right now. Nothing at all looked interesting to enter today, volume was dead across the ticker.



I think i will start requiring my daily MA's to be very close, preferably intertwined, while scanning for setups so that i can find the stocks who close past the daily MA's on the entry bar....... just like WHAT I ALREADY REQUIRE for my hourly chart. I think this could be the extra oomph that i was looking for. It makes sense and i already like doing it with my other time frame. The best thing about doing this is price wont get stuck bouncing around, wasting time in between the 20 and 50 which i see in many of my trades. Today i realized that closing past the daily 20 is good, but then you have the 50 MA which acts like a brick wall half the time. Instead price will be pushed in the trade direction easier with S/R behind it and there will be a clear path in front until the next TL is hit. I can look for daily MA's being really close and intertwined along with TL's on the print outs. This is also good cuz it will make my research last longer since i had been going through it a little quicker latley.


step 1 : (scan) general volume and price


step 2: overbought/oversold stochastics (making printouts)


step 3: TL's and intertwined MA's


step 4: Volume (filtering after 2pm)


step 5: Bar signal and entry checklist (right before the close)



I will also reject any trades whose 'proportional stop-loss'doesnt reach back behind the entry bar but this should only make me skip a few. I have been doing plenty of research and i think i improved that aspect well enough for now. I see that my probability is at 34% this second so i need to look for my next improvement and maybe the daily close past 20/50 MA's will be steroids for my ratios. My improved research is giving me many trades but its too many, so i need to weed out some.


I still need to add my double gap-thrust bar signal to my arsenal and i could go ahead and type out my current trading packet to go ahead and get that saved on my flashdrive.

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