Here’s a trade I was watching set up, but had to leave before the third candle finished. I would have taken this trade for sure, and probably jumped out way too early! But, it shows how the paintbars are starting to come together a bit.
Not all examples are this nice, of course!
One of these days I’m gonna video a live trade… it’s just that I’m paranoid about it affecting my performance, either via technical problems, or just being on camera affecting my judgment (obviously I would want my live trade to be a winner, you know?).
August 2nd, 2007 at 2:38 pm
Nice! I like the concept. I’ll have to study up on what the ergodic candletron thingy is. How did you get to watching this stock? How do you make your watchlists now? I think you use Trade Ideas also, don’t you?
August 2nd, 2007 at 2:45 pm
I’m ashamed to admit that I don’t know that much about it. A site I saw said that ECO is like an MACD, only it can trend much longer without “maxing out” like MACDs do. So, I read it like that, and it’s on my todo list to investigate how it’s computed.
My watchlist comes from two trade-ideas scans, and my weekly “top stocks to daytrade” scan. I remove any stocks that are not keeping up with QQQQ in percentage volume terms. That’s an idea I got from ugly a while back. The first TI scan finds pre-market movers. Once the market opens, I switch to a TI scan for stocks making 3-day highs on high volume.
I have no idea which of those scans produced FISV today.
August 3rd, 2007 at 9:22 am
Richard… Sweet vids. What software are you using to record?
A live trade vid would be kewl. Help you conquer emotions.