Trading stocks with the 15 min chart

Hi Inandlong

That's what I like most about it. With well managed exits, good initial stock selection (for relatively smooth crosses and a regularly decent level of deviation from the avarage), and good risk management, the whipsaw doesn't matter much at all.

Best

Natalie

 

You have described it perfectly, especially the stock selection criteria. As always GP, nice job.

 

Long 100 CSCO at 18.33

10:15 Staying long. As before 2-3 cents is ignored.

13:07 Some narrowing consolidation provides an opportunity to trade a break as an additional trade.

Profit potential has been 33 cents.

 

Doing well so far. Ahead about 60 cents.

Price is breaking above a down trendline set back in May 2001.

Don't forget the monthly and weekly saucer that has formed. If the daily macd is any indication of near term direction, I would expect a pullback, forming the handle of the saucer/cup.

For a nice picture of one that has worked out well, courtesy of TKOTrader, check NXTL.

 

I make that about 7% gain in as many days

Best regards

Natalie

 

Ex post facto it is a bit cheesy to say 'I woulda...' so I won't. But as before, the trendline exit is always available. If one had done that this trade would have been complete with about a 50 cent gain.

 

CSCO has put the 15 min 200 sma in play the last three hours of Friday. Hopefully the consolidation will continue to occur above the ma and break below it. The 15 min 200 sma is considered very important by many... so I have read.... so a little consolidation break with a moving average cross could be very nice.

Btw, thus far, this trade has had a profit potential of 1.14.

 

Sorry for the delay.

10:15 CSCO short @ 1907, have ignored the next two bars but will reverse here.

11:15 reverse to long csco 19.19 -.12

 

Here is something I have been thinking about as a means that attempts to prevent being whipped more than once.

You see the low close so far today... that was near the first short. Then price reversed for Whipsaw #1, let's call it W1. Now price has turned down a bit and is presently trading below the 200, which if this bar closes there means another reversal for W2.

If this reversal does not take out the close of the first reversal at 10:30, then stay long. In other words, the reversals set up a local channel that can then be used as s/r.

 

In:

Superb thread. Thanks.

I wonder if you could kindly provide some input on initial stock selection with this method. I'm intrigued since GP whipped up that spreadsheet so quickly...

Thanks in advance.