You sold the low of the "lower high" bar,with a stop just above the bar's high....Good luck... I am confused though...the stock is rallying from the opening bell.So,if I understand your logic ,you should buy a higher low.Where is my fault?
Look at :"C:\Program Files\QuoteTracker\stocks.exe" Best free charts and Geez's trades will jump out at you on the 5 min.chart (for me after the fact ) cheers john
The fact is that this trade was also profitable.The price reached the profit target. I want to learn the logic of Geez,my friend.I do not trade the US markets,so I am not interesting in finding stocks through a program or a "radar".....I want to learn his way of thinking,so that I'll be able to implement this strategy into my own markets. Eitherway,the very strong part of Geez's strategy is the money management.Not the technical part.There are hundreds of systems out there with a w/l ratio of 50%. or better.Even if you flip a coin,your success rate will be 50%.Keeping your losses very small and have a reward/risk ratio of 2 or better is what makes this strategy a "money machine".
5/7/09: Total P/L +1,106.18 4 trades 3 wins 1 b/e *there were questions about today's trading I will get to later. I have to finish up at work here first and then will talk about the trades from today.