Tuesday, July 10, 2007

Day trading with the holy grail

Yesterday the market was not kind, but this morning is another day, did I change the way I trade because I didn't make a million yesterday.....I don't think so. Did I run out and buy the latest greatest piece of research to filter out the losers.....I don't think so. Did I cry and whine in some chat room about how the stuff I use didn't work yesterday.....I don't think so.

I just sat down with my cup of joe and a fresh baked sweet roll, and waited for opportunity. I drew in the symmetry which is the holy grail times the holy grail which ends up being "ONE". So a measure and equal move of the last set of swing is where we find "A" from yesterday afternoon. Low and behold the CCI had a "zero line reject" CCI being set to 50/9, which I found after 26 years of solid research yada yada yada.....but there it was.

That little double smooth stoch that I use was also overbought at the time and that is all I need to take a trade. The risk is just a tick above the pivot high and the trigger is when the low was taken out on the setup bar without taking out the high of the setup bar. Simple as that.

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