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
Sunday, January 20, 2008
My trading system
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment