Some interesting technical perspectives from bigdogs, thanks bigdogs, this addresses a lot of common questions, we all have to deal with from time to time
key to making money in the markets are to find stocks in uptrends. You want to stay away from any stocks that are breaking down in there 3,5,10 day moving avgs.
Once they start to turn up on these avgs which PYPR is just starting to do you want to start taking positions.
MACD is a indicator that usually tells the trend of the stock.
Once it starts curling up then the trend in the stock is about to turn. Stay with the trend until it turns the other ways.
RSI - When a stock trades at or above 70 in the RSI its definitely time to think about selling. When the RSI is below 30 its time to think about buying. THe key is to try to use your moving avgs as buy signals. When the stock turns up then start accumulating. If you look at PYPR its followed its 10 day moving avg all the way down. Stay out once this turns over. Here are some stocks I just scanned to see which ones were starting to look good on 3,5,10 daily mvg avgs.
Chart them out and you will see what im talking about. These are the type of plays you must play to make money. Anything in a downtrend especially pinksheets can completely wipe you out.
Once the stock starts taking off use your intraday indicators such as 60 minute charts (using 3,5,10) and once this starts to curl down then get out and take your profits and wait for the chart to turn back up.
Go to stockcharts.com and enter a symbol then go to the simple moving avgs down lower and enter 3, 5, 10 day. It gives you 3 lines so you can do them all.
Now if your playing intraday trying to make quick money there are a whole bunch of different steps to take.
You want to find hot stocks with good volume that are just starting to turn up on your 5,10,60 minute charts. Hopefully you have access to realtime charts.
On a stock like XTMS that just took off. If you got in on that the key to maximizing the run is to follow the 5,10 and 60 minute indicators. The 5,10 are great for entry points and exit points. the 60 minute is a bit more long term but works well.
Once the 5 minute starts to turn over its usually time to dump it. If the 10 minute starts to curl over then the run is usually all but over. Use the 3,5,10 mvg avgs for your intraday technicals also for these mvg avgs.
Key to finding some good plays is to surf the hot boards for stocks that are taking off and use these indicators to jump in and jump out and maximize or minimize any losses or profits.
Get good at doing this and you will succeed. Technical indicators will save you from losing bigtime money. Stay with positive trends and dump any stocks in negative trends until they turn. In PYPRs case the negative trend on the daily charts started when it broke the .006 level and is just now starting to turn after months.
Key to being successful is discipline in charting. Take all emotions out of it and rely solely on charts. If you do this time and time again you will succeed. Dump the losers and ride the winners on uptrends.
RSI and MACD usually go hand in hand. If one starts to turn over and head down the other one will follow quickly.
The whole idea with technical indicators is to limit your downside. Most traders get caught with too much emotions and not enough discipline on charts. Charts will save you from getting crushed on a stock you are riding on big momentum.
Once the charts turn get out before everyone else because most dont even watch them and just watch all there money go down the drain.
Dont be afraid to take losses either. Its better to get out at the beginning then to ride one down for months. On the other hand these charts can help you ride the ups all the way to the top if your use the right indicators.
Also sometimes the MACD and RSI can stay sky high if the stock is very hot. Thats where you use the intraday indicators to figure uot where the top is. Once those start turning down then the MACD and RSI will follow shortly after
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