AI
Tuesday, January 24, 2012 11:44:47 PM
Since the beginning of the year, I have gotten involved with a project that is eating up all of my time. I have no time during the day to concentrate and trade the market. As a result I have had to resort to a different type of trading.
The chart below shows the run the market has had since Dec 20th. There have been minor pullbacks, but each one quickly reversed. The red lines are the three short signals that have been generated by SR60 in Jan. It clearly shows that in this type of market, the SR60 signals are too fast.
My plan is to continue to work with a what I call a Slow 60min chart and when I do get the time to trade, to reuse the great intraday techniques from last year. I see a lot of great intraday trades in the evening, today being a great example.
Hope everyone is having a good start to the year trading.
The chart below shows the run the market has had since Dec 20th. There have been minor pullbacks, but each one quickly reversed. The red lines are the three short signals that have been generated by SR60 in Jan. It clearly shows that in this type of market, the SR60 signals are too fast.
My plan is to continue to work with a what I call a Slow 60min chart and when I do get the time to trade, to reuse the great intraday techniques from last year. I see a lot of great intraday trades in the evening, today being a great example.
Hope everyone is having a good start to the year trading.
Trade the Charts and not the Heart - Expect the trend to continue until it doesn't.
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