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lol I remember back when I was in high school and I played the stock market game for a stock class I took and the only strategy I did was look up the top 10 highest gaining stocks for the day and I'd go long on them. I won the stock game but little did I know this was back during the dot com boom.
Nowadays I simply scan through a couple hundred stocks before the market opens and look for the best long pattern to trade a breakout and a short pattern to fade a rally at a previous high and hedge them against each other. I do a quick little bit of research to see if there is any good or bad news about the stock's fundamentals just so I'm not caught off guard. When shorting a rally it's especially important to know why the rally occurred so the short doesn't get stopped out because of strong fundamental data and vise versa for going long on a huge sell off.
here's my long breakout pattern ( I usually look for symmetrical or ascending pennants on an upward trend. )
here's my short rally fade pattern
Sometimes when I see these macro patterns on an index or commodity future I look for strong moment to get in on a quick pull back when the instrument starts taking off but unfortunately I don't have enough capital to day trade stocks in conjunction with my swing trades and my futures day trades. :/
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Itchymoku my analysis is fairly painless also. I do the scans nightly transfer the results to the watch list in TOS and run the charts in each one. The ones I decide on I transfer to my trading watch list then the next day pick the best one and buy it.
That would break the 9/20 low but is support from the 6/10 swing highs. Buying there would be buying a double bottom. Take a shot there, place a stop at 2.65, could work out. At today's price it's reached the 50fib of the recent meaningful move, but it's falling so fast it's hard to step in front of that, not sure where I'd put my stop.
What is it about VG that keeps it on your scan? Mobile carriers tend to be good dividend payers.
I use S&D+PA in my trading and that's pretty much it. I have trained my eye to see the value areas. I don't even mark the charts anymore unless I am posting it. Most of the time in the futures I'm trading I just wait till PA gets to the zone I am watching and I just press the button. Very hard to do mind you because most of the time then PA is trending up or down. Today had it wrong big time and got worked. It happens.
Sorry shodson . In my other business everyone gets called by their last name (or f###head depending on what got f###ed up). It's just habit. No disrespect meant.