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Hi Herman,
Gracias.
For short-term trades (2 to 5 bars or so), I almost always enter
intraday, on Stop-Limit. I used to have to do the whole thing
manually (watch all the symbols all day long), but finally some
brokers here offer broker-activated stops and stop limits. For
decades, we had only limit and market orders, which are still the
only official exchange orders. Even with the broker delay of a
couple of seconds, it's still faster than I can do it manually, and
it simply doesn't matter in the end. I will enter intraday at market
sometimes when I see the obvious. I only play opens against the
grain (buying gap downs and selling gap ups).
Yes, you'll have to slow down a bit. ^_^ But really, the shorter
the time frame, the more noise, so you'll be dealing with a lot less
noise.
I scan the market several times a day RT, and then different scans
for EOD. Mostly RT I am looking for big volume and significant price
change. I am aware that early volume doesn't count as much as later
volume ... somebody will make a wave, cause some excitement, and
never show up again after lunch. I like to think my experience helps
me to judge, but there are tricky folks out there. ^_-
Yuki
Monday, January 8, 2007, 9:43:08 PM, you wrote:
H> Very enjoyable and educational comments Yuki, thank you.
H> I can't locate the EOD chart segment I used but you are right: it probably
H> was a Bull-Flag and your trading strategy makes a lot of sense. What makes
H> me shudder is that such patterns may take weeks to complete - Coming from
H> trades lasting only a few minutes I really, REALLY, have to change my way of
H> thinking here... I suppose you have an alarm clock???
H> Two questions:
H> Do you use Intraday (Real-Time) entries/exits or do you place orders ahead
H> of time?
H> Do you scan the market automatically to find trades?
H> Looks like we need code to detect trends and ranges. Perhaps they can both
H> be defined using bands or trend lines. I need to think (google) about this
H> some more: ranges, trends and contrarian entry points.
H> best regards,
H> herman
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