Short Term Trading Weekend Lounge 20-22nd Nov, page-49

Sniper Like Entries

I find this more appeal in DT context, where you have to make decision in split seconds, so I hope STers don mind

Having read Trading in the Zone recently which talks about trading psychology, where sometimes you kick yourself for one of the following reasons:
- chasing a stock only to find out you were trapped in the high's
- getting ready to buy in but your second thought told you what if you buy in and the price drops..only to find out the price skyrocketed after 10 mins

I decided to eliminate these emotions (nearly getting there) and tested out for the past two weeks and dare I say the result was quite amazing. Having eliminated these emotions have allowed me to seize the opportunity to trade the trade. Of course I had some losses but my win loss ratio had gone up significantly, if not, surpassed my expectation

Back to topic, my DT entry signals are
- MACD crossover in 5 min, then confirm with MACD crossover in 10 min timeframe.
- stochastic oscillator
- volume spread analysis, i.e. low volume pullback sitting on support with small spread candlestick

Sorry for long post, have a great weekend all