Sunday, January 20, 2008

My trading system


  • High volume stock ,price range $10-$150.

  • Daily volume at 10 am 600k-300k.

  • I will use 15 minutes chart but also check 30 minutes charts to find opportunity.

  • Avoid extremely wide opening ranges( shadow)

  • Choppy price action.

  • Not get into any position before 10.am

  • Narrow range bar is the best candle to enter.
  • Exit trade when i gain round figure like .50c ,1 dollar or if the price move below 5 EMA.
  • 5 EMA need to be close to the candle.

  • Enter stop loss as soon as get into a position.

  • Before entering a position I must know the stop loss and possible exit.

  • Position size will determine by dividing the fixed amount by stop loss.

  • Pattern that I trade a. opening breakout b. flag c. pullback d. base breakout e. wedge f. triangle h. tweezers top & bottom

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