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This is a great response to Viking. Viking's detail has provided me with the encouragement to move forward with my plan. I started 11/1 live and have been making pretty steady money since then, all trading just AAPL on 1 and 3 min charts. It's freakin' awesome!
Of course, strong impulse trends certainly help, but even when the prices are choppy there's a little money to be had if you stick to your rules.
Risk is relatively low using the proper money management and loses are minimized while profits can be maximized. Wow! Better the futures, as far as I'm concerned.
More detail to follow when I get more data.
Can you help answer these questions from other members on NexusFi?
Here is what everything looks like of my charts these days and how it all works on this short clip...(newbie to video stuff, hope to be posting these shortly on Youtube)
I have been able to code in entry prices into my set-ups (again not a real coder, so a real accomplishment for me), (now it won't always post if the next signal bar is not triggered, so it is not perfect, but it is not to bad either)....
PS: I'll start posting some daily pics as well for swing traders....
Example of Stock Picks for 11-27-2012 (picks I will post the prior night before open in the future)
I have been able to code my codes into a daily,weekly, monthly scan in StockFetcher which in turns sends me an e-mail of fresh crosses every night. (Buys on the "Up Code Picks" would be any break of the previous day high and vice versa.)
I have inserted a few charts of the daily swing trades, stop will be whatever is posted in upper left hand corner of my chart.
Take care and have fun!
Vikings1
Up Code
Symbol
DUK
BA
ED
FDX
EQR
ROK
ETR
SPG
JBHT
CHRW
NOV 69.89 73.42 56
HCN 58.78 60.73 102
KMB 85.51 87.34 109 VAR 68.74 71.39 75
Number of shares is based off a maximum loss of $ 200. Personally I rather play the Dec. Put options instead of shorting the stocks outright. You pick your profit level.
How the market looks on my charts (could go either at this moment, Es breaks 1387.75 and it could see 1373.50, IMO)
Oil obviously has had issues at that major FIB ($90.18). Right now it is in a range of ($ 89.80 & $ 86.37). It would need to break $ 88.53 to show me any signs of real upward movement and then $ 89.80 and $ 90.18. If it breaks $ 86.37 then $ 84.05 comes back into play.