We are giving a webinar for ninjatrader users today after the close, and I’m going to talk a little about trading stocks with eotpro indicators. About an hour after the open (when I woke up!), I put up four charts… XOM, SKF, DRYS, and MSFT. I just did this off the top of my head, and also by glancing at stocktwits.
All of them looked pretty good, but today I’m going to feature DryShips Inc. (Nasdaq: DRYS).
Basically, there were two short entries. If you look at the bottom pane, you can see the end-of-trend indicator coming up to the top and hooking back down several times, indicating that you should give up on the first trade. Scratch the trade, or slightly better. The second trade is a home-run, though… when end-of-trend lines are up, you want to be careful not to give up too much profit, but that’s not a problem here… and if you held on until the red line hooked down, you took the whole move. Congrats!
I think the audience will be impressed…