Daytrading Las Vegas Sands Corp. (NYSE: LVS)
Posted on November 6th, 2008
Written by Richard
Posted in: N/A (old archives)
As usual when there are no suggestions from readers, I picked the top stock mentioned today on stocktwits. Today, it was Las Vegas Sands Corp. (NYSE: LVS). As most of you know, I calibrate the volume bars to the 30-day average volume. Since volume on LVS was so much higher than average today, we ended up with a lot of candles. I worried that the resulting signals would be too whippy, but it actually turned out ok.
(In real life I’d notice the extreme volume early in the day via tools such as trade-ideas and I’d adjust the volume bar settings. But, sadly, I know if I post an adjusted chart then the cynics will crawl out of the woodwork and claim that I’m being dishonest and manipulating the outcome. Such is life.)
Anyway, here are the charts… I added arrows to the chart to help you see where things line up with price action, but all of the entries were picked mechanically, as seen by the indicator on the first subgraph.
I think it looks pretty good! Yeah, not every trade here wins, especially in the morning, but it certainly looks like a profitable day to me!
I’d like to remind people that I’m not trying to come up with the best system ever, here… We could get complicated and say things like: trade 1/2 size when we’re on the wrong side of Alla’s Average, for example. But optimization is not the point. I laugh when I see unprofitable traders optimizing their systems. Get profitable, then get really profitable. I want people to see that you actually don’t have to work too hard to make a profitable system out of good indicators . Obviously I suggest you check out the ones I release through eotpro.
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.