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Thursday, May 25, 2006

Live Dow trading entries



Here is the chart for yesterday. There are two clear entries- one Long and one Short, each netting a minimum of 30points. The short trade can use trailing stop to capture maximum down move (total decline 100 points). This is the plain version.

I am using Bollingger Bands in 30min chart. The system in short is..

  • Enter in the direction of 30min chart BBMA trend
  • Be alert when the price pulls back to BBMA line
  • Enter when stochastics in 5min chart crosses up/down
  • Target exit when the price penetrates the up/down channel line in BB

Again, the key here is to have 'patience' until there is a clear signal.

1 comment:

Casey said...

Hi Leo ,
Just ran across your blog. Will be popping in once in a while. Good trading to you. Noticed you in the T2Win chat room on Monday.
take care