What has been working well?

Discussion in 'Trading' started by William, Aug 3, 2002.

  1. William


    What have you noticed that has been working well in the past two, three weeks? And I ask this in the broadest terms, anything… maybe a certain chart pattern has been working better than usual. Five minute, thirty minute open break? Just anything you’ve noticed that’s been working well for you recently.

    (I haven’t been trading for a while so I can’t answer myself right now)
  2. My trading style is long-term daytrader, using 5-minute bars and pure technical analysis meaning higher-hi's and higher-lows (or vice versa for shorts) and support-resistance (helpful sometimes with a 10-day 30-minute chart). I don't have the balls for overnight holds and scalping is not my style.
  3. GNP is working like a charm. I made about 20% in the last two weeks alone. Just look at charts of SEE, OCA, MWY, MGL and JWL.
    (long JWL currently for a second try). (Short OCA currently after being long)
  4. hi PT

    what is this ?

    I am not familiar with this indicator
  5. Do a search of GNP (great new pattern) on elitetrader.
  6. I searched it and am now bugaboo from looking at page after page. Does the Thread Closed mean that I can't find it anymore?
  7. I think "Thread Closed" means you cannot add anymore posts to
    the thread. You can read it only. There is also a 2nd GNP thread
    I believe. I don't remember if it is closed. But even if it is not
    closed, it is buried somewhere in the pages of ET.
  8. I'm sorry that it is so long. Most of the setups there are over a year old, so you'll have so scroll back a bit in the charts. As you look, see how my real time setups worked, (most were EXTREMELY profitable). I think it's the overall methodology though that's the key.
  9. P2, I know you work very hard at your trading, so I scrolled thru that entire thread. And I scrolled every one of your posts too and have been unable to locate the parameters for your GNP.

    If there are finite parameters that are easily listed, please do so, only at your convenience however.

    If not, thanks anyway and keep knock 'em dead!
  10. Hmmm, Look at those half dozen examples that I posted at the start of this current thread. They should show you a cross section of the types of trades I do. Once you're long, set a price objective and start selling a few k shares every dime up, or whatever works best for you. Use a trailing stop to protect your gains however.
    The basic format is looking for stocks that are down on abnormal volume. Then buy the bottom and sell the inevitable bounce. Usually you can assume that the bounce is 1/3 of the size of the drop.
    #10     Aug 4, 2002