I noticed that a few members have read "The Secret". I'm currently reading " The Law of Attraction". I wonder how well these principles apply on stocks:
The nice thing about T.A. is that it doesnt matter who believes what about the stock. Granted news - or peoples reaction to news will often push a stock. But in TA we look at this as a breaout or a failed breakout. There are so many different ways you can trade - traders tend to find their nitch or to search for a 'secret' to help give them a edge.
Thanks for the reply djxput. So far, I like Intraday bottom fishing a long term uptrend. I kind of tweaked Oz's Bottom fishing strategy (link was provided by nkhoi) and am still testing it. This is my most recent criteria: Active in the premarket (Volume Up) Above the weekly 8ma (Price Up) Start stalking the stock on the 3rd down day with daily RSI(2) below 30 Watch for Fibonacci levels using the previous day's candle Watch for Fibonacci levels of the 5 minute opening range Watch for 5 minute MACD Divergence Watch for Panic Selling ( Big Volume outside an expanded 1 minute bollinger band) near the fibonacci level (recenly, the 1.618 of the 5 minute opening range had a lot of bounces on a variety of stocks) Bottom Fish (Buy weakness) Add to a retracement Go in with momentum (and sell into strength) I'm also looking for FTT's,patterns like double bottom, inverse head and shoulderse, etc. I still prefer NASDAQ stocks below $10 and am keeping in mind that the Elite Trader criteria prefers stocks above $5 and is trading an average volume of 1,000,000. Thanks again Elite Trader for all the useful information. I'm Looking forward on learning more. Ares
I have two brokerage accounts that I would like to move. One has my RRSP and another one has my short term trading account ( I originally opened this account for day trading but ended up holding stocks for years in it). The RRSP account has high commisions and the short term trading account has been giving me problems with quote feeds and discrepancies. The real time charts are free but are not giving me accurate readings. A lot of times, the open is not the same on the daily and the 5 minute charts. There's also a discrepancy of information on my stock box. Sometimes the open,high,low,close, shows different information compared to what is showing on the chart. There are times when I switch the timeframe from daily to a smaller time frame and then back to daily - the daily chart shows another candle with the following day's date ( creates a new candle with a different open,high,low, and close). A while ago I called my broker regarding discrepancies on my charts/quote feed. Sometimes, the percent change is based from the open of the premarket, sometimes it is based from the market open. The representative said that they don't have a problem on their end. I sent them an e-mail with a screen shot of the trading platform because I was basing the momentum trades from the market open. Recently, I pointed out to my broker that some of the stocks on my list have level 2 and some don't. According to their records, I was not supposed to receive level 2. I told the representative that I hope I'm not being charged for the level 2 info. He said that I'm not being charged for it. Another thing that I pointed out was, one of the stocks I bought few years ago at 2.25 with 1,000 shares is just showing 116 shares apparently bought at 0.812. There's also discrepancies on what is showing in their record and what I have on mine with regards to the stocks I'm holding. The representative told me that he will look into it. He also suggested that my stocks may have had a reorganization and should be directed to the reorg department. I'm currently shopping around for a broker that provides free real time charts and quotes that are reliable, low commissions,ability to hide shares, buy at the bid,etc.