The E still works...

The following is how my S/O trades step by step... I trade almost the same....

1) He looks at Gary's 55 and 21 and a 1 mintue chart which is used with candles to see the direction of the movement (Gary's indicators and E indicators on these charts)

2) Next S/O looks at a 5minute moving average chart which contains the E with Gary's studies Stoch RSI, MACD and Directional Movement with the ADX thickness 3.

3) S/O has an 8 minute chart looking for E with money flow (E only no GW's indicators).

4) S/O has an 10 minute chart looking for E with money flow (E only no GW's indicators).

5) S/O looks at ADX on 55 and 21 charts to see if there is strength in the movement of the stock thus setting a trend.

6) S/O draws a ray line at the location of the candle when he begins looking on the 10, 8 and 1 charts. He is looking for movement. Once he has drawn the line he only has to glance at those stocks where he has had interest in trading.

Look at AMZN @ 9:50. Because S/O has all 6 of the charts on one screen on his lap top, side by side he can see all charts at the same time.

We all know AMZN was way up on the open but on the 55 there was a continuation (a gap) of the HRFP with an E and an E on the 21 with a HRFP. He looks at the 5, 8 and 10 and all have the E. ADX turning up saying this is a strong trend.

Base on all that information that was his entry point. He was asked this weekend what chart he uses for the action...He replied he uses all of what I have just mentioned.

To leave the trade he uses the 5 minute chart watching the 5 moving average line to begin to turn in the opposite direction of his trade. He is preparing to leave the trade. He may hold an extra candle on the 5 chart by using the 1 minute chart to see if the direction of the trade is changing or is finished changing and is only in a slight pull back.

He continues to also monitor his option for movement as well. We both have seen stocks move 50 cents and the option doesn't.

Today trading AMZN for 16 minutes S/O made $525.56 an in CMI he was in 1 hour and 51 minutes cleared $500.34.

He uses $3,000.00 to $$4,000.00 per trade. As I have said..he is a gunslinger!

Darcy2,

Congrats.

On 1.) and 2.) charts: Isn't it a little noisy having moving averages 5 and 10 in addition to the Christmas Cross, or did he remove CC? Of course, the 20 moving average is the same as center BB.

I've begun employing separate E charts: I've done the time frames (3, 5, 8, 10) with the 5, 10, 20 MA's with the candles turned off.

Thanks for your mentoring.

Chunk



Edited 1 time(s). Last edit at 10/26/2013 06:31PM by Chunk.

Great post, and trades for your S/O. I was wondering as Chunk was that doesn't having the "E" moving averages on the charts in addition to the GW settings make it cluttered. Also what signaled to play CMI even though it was clear on the charts for the down play but also the play was against the overall? Thanks for all your posts

Chunk Wrote:
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> Isn't it a little noisy having moving averages 5 and 10 in addition to the Christmas Cross....?


My thoughts exactly. I like the idea of having fewer charts to look at, but I don't see how you would do it.

My trading strategy is somewhat similar, but again, I think it is important for everyone to develop a system that works for their trading style and comfort.

I also have my laptop broken into 6 screens. My screens are set 3 across the top and 3 across the bottom (underneath the top three).

Top left- Level 1 Screener. I have 15 stocks I look at on a daily basis-no others! I really only love about 8 of them, but some are there as sector stocks, big movers such as Google, Priceline, MasterCard, etc. I cannot handle looking at more. My screener means a lot to my trading. I can actually see how everything is moving and click on either of the stocks and watch it's flow on all 6 of my screens at once. When I click it, 5 other screens with my specific settings switche to that stock. At that point, I can see every small aspect of how that stock has moved on all charts (13, 21, 55, 10MA, and my Multi-Purpose Chart).

Moving Right- I have a 55 chart that is set with Gary's settings-WITHOUT THE DIRECTIONAL MOVEMENT. This chart was created as a trend chart. I flip between this chart and the 144, 233, D- if needed.

Last screen to the right is my 10 MA chart with MF and Directional Movement (ADX). This is my main "E" chart. I use this chart to switch between 10, 5, and 3 MA. If I have an "E", and MF on all three, I know I am going in the right direction.

Going back to the left-underneath the Level 1 Screener.... I have my 13 chart with Gary's settings-W/O DM. For me, the 13 gives me medium guidance. This chart give me my alert that something could be changing that could affect the option price. If I have a negative candle paint, but if the ADX is up on the 13 and the 21 are up, I stay and watch closely. When the MF changes directions along with a flattening of the ADX on this chart, I look to exit because I know my option price is going to change. When steam starts to cool down on this chart, I get concerned. I know a reversal is shortly coming. When I say steam I mean, dojis start forming, MF Flow start to flatten, ADX start to flatten, the MA lines on the 10 start to converge, but turn strongly on the 5 MA. I know this is a lot, but to trade well intra day, you must have a concrete plan. Bare with me because there is more.

Going to the right-underneath the 55..... I have a 21 that is also set with Gary's settings and no D/M. I flip between this chart and the 34. I want these charts underneath the trend chart. I want FP's on these charts-remember they only have 3 indicator below the chart, so all three lines must cross. Visualize- the trend is on top, the decision is just below the trend chart.

Last chart on the bottom right is my Multi=Purpose chart. I have everything on this chart. I exclude the 5 and 10MA lines because I have that chart just above this multipurpose chart. This chart is set to Gary's settings with all indicators-including Gary's suggested MAs. I also have My MF- increasing my indicators below the MP chart to 5. Before entering a trade, I want to see it all together with my MA chart above. This is my final approach before entering a trade. I flip through this chart several times before entering. I want to see my HRFP on my trend and decision . I want to see my "E" on the above chart. Finally, I take a look at my 13 and make sure I like what I see- since this chart gives me my guidance- I depend on how it speaks to me before entering. If it looks good, I am ready to place the trade.

I know this is a lot, but hey, I do not like losing money. Of course, I have traded for a while, so for me, this process does not take very long for me to eyeball and see a trade coming my way.

I shorted FB and picked up almost $1. I was very nervous about this trade, but I went with my indicators, and they typically do not fail. FB has a ton of hot money flowing through, so I am not confident trading FB going down. Every, single indicator I use screamed trade, so my decision was made. I did not like that the broad was pretty flat, but nevertheless, it was red and had come down from well before the open, so I knew I had a little run. This ended up being a pretty good trade. I am closed and out for the day. Others that were on my radar were, SBUX, FSLR, and AMZN. The setups were not as clear as FB, so I went with the stock I felt would bring about profit. Just wanted to share another trade from a "gunslingers" approach.

Bought on GW's 89 and the E's today for Z Call one strike out of money. Closed in Seattle.



Edited 3 time(s). Last edit at 10/28/2013 12:36PM by Chunk.

Sorry for the delay in answering folks. One of our employees is on vacation and S/O and I have to fill in for him until next week. Sometimes our work isn't done until late in the day and then I have my bookwork to do, and fix supper. By that time I am ready for relaxing. So really wont be back 100% until next week.

S/O has his 5,10 and 20 moving averages in a thickness of 3. He can spot these PDQ on his 55 and 21 then he looks at all the other information. He looks to see if 55 and 21 has a fat pitch of HRFP. He prefers HRFP but he has traded off a FP IF the MACD is there.

TCB.... S/O has not EVER looked at which way the market is going. I do. He doesn't. He trades stock specfic. That's part of the reason I call him a gun slinger.

KARS.... I suppose for some they like more information on what is happening inside a stock while others don't. S/O has used all 6 of these charts and since Feb 2013 he has not lost any trade. He simply decides on his trades by what evidence he sees and pulls the trigger. He has NEVER looked at a daily, 233, 89, 13, weekly ever.



Edited 1 time(s). Last edit at 10/29/2013 03:47PM by Darcy2.

When, pray tell, did an 89 chart start getting used and why?