Friday, January 19, 2007

OK OK.......let's talk about it.....

Sometimes, you feel like you stuck your foot in your mouth at times, what I would like to do with this blog is simple. To share ideas for others to test out, plain and simple, but I don't want to just say, "Hey, these are the exact rules and don't change anthing mister." Why, because we are all different, we all need to find our own trading style that works for just ourselves.

So if I give you all the exact things I use to trade and manage a trade and you just try and follow along....well, I know that wouldn't work and I am only cheating you out of "you" finding what can turn your life to speak.

So if you are studying the first bar trade, the first two things you need to work on are:
If there is a gap, then how big of a gap can I allow and still consider a trade setup. Secondly, how much of a range on the first bar can I allow and also still consider a trade setup. You will only know the answer to this by keeping a real time log and tracking it.

1 comment:

bub said...

Dennis thank you for the info. Looking at the 3 min. chart with no stinkin indicators got me looking at my charts in a unique way.

Getting in near the open is also key. Now if I can only get Guido to hit me with the 2X4 hard enough so I pull the trigger but not too hard so I can manage the trade. ;-)

Please continue to pass on your knowledge.