Tuesday, October 25, 2016
Skill
Well there is a system I use. First, for HB's stock picks (using them as an example), I first watch for those that go up 5-12% in an up trending market or go down 5-12% in a down treading market on a 5 MINUTE chart using candlestick. I then draw horizontal lines to mark the upper most body and lower most body between 9:30a and 9:50a. Anything that breaks up (or down) is a buy IF volume at that point is greater than 200,000 to 250,000 shares traded. I then ride the 10MA until it breaks. Simple.
Oh, anything less than 5% or greater than 12% is not traded as the former gives me momentum and the latter, if more, could lead to trouble.
It actually works. Better than guessing AND anything that goes sideways between the horizontal lines is a non-starter.
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