Many of Stock Trader's Almanac statistics were not confirmed lately. My opinion is that this one won't be confirmed either.
yes this is a scale-in or previous order replacement method similar to what is taught for intra-day trading in the www.ioamt.com chatroom. send me a pm and i can get you a 4 page document that explains this entry method for intra-day trading or send me an email at macroevent@yahoo.com and i will be sure to send you the technique.
ok --- i am holding 1236.50's to replace my 1235.00's --- i need 1234.75 to replace my previous 35.00's with one tick of profit to pay for the commissions {order replacement or previous position replacement method} .
built up 1038.50's now -- will take the 1036.50's out at 36.00 and that will allow me to take out the 35.00's at 35.25 and still have all the previous positions covered with commissions paid for. i am order replacing my way up in this slow grind as possible --- need to take advantage of this tight price action to shift my position higher {the cost basis for the overall trade and then shift my stop higher}.
that is a wrap for the week ---- cost basis sitting about 1037.00 for my position from all the levels i own and the various position size at each level ---- i have about 70% of my position in place and i will now use a bust of 1231 to bring the position to 100% if i am not able to add the remaining positions above 1238.50.
Macro Good luck but personally I think we see Dow 11,000 very soon. I will email you for that doc too if you don't mind? Thanks.
thanks --- well after a 10 {now 11} day run in front of a weekend and a few days from the CPI/PPI and other news i decided it was time to get in here and take a swing. yes - send me an email and i will get that document to you ASAP.
Macro I just went through the doc you sent me and I like the style it seems to work well in a grind but if you would have tried that yesterday you would have got burned bad for full pop imo. I'm curious to ask do you use MP for your sup/res levels as suggested in the article? and are you a member of the iamt site? Thanks for sharing this, I have seen MANY traders try and use MP but few succed with it.