I started watching the markets around 9:30 central time. Can’t quite seem to get home and to my trading desk by 8:30… gotta work on that!
Anyway, here’s the first trade I saw set up. Pretty!
Note that there was another good setup around 10:00ish, on the stochastic hook up. But I must have been looking at another screen at the time, because I completely missed it. I need to set up an alert or something.
Anyway, one thing about this approach, is that it really makes you sit on your hands until a trend gets established. Look at the upper left chart (the high-level context chart) at how big an up move starts around that 9:08 time frame. But, the moving averages have not yet crossed, so if I were at my desk I would have to sat it out. At least, from a triple-screen perspective, I would. In reality, I’d take stabs at the upswings, and try to scalp out maybe 1 point at a time.
If you have a nice scalping method, that can really help you stay sane while you wait for your bigger trades to finally set up.
August 14th, 2008 at 11:44 am
Nice.