Replies to post #1179 on Simple TA by Wizetradr

[Second_Life]

I'm picking up the concepts, using Yahoo-Financial Charting. Tried Stockcharts but don't know how to adjust charts. Yahoo uses 5 day, 10 and 20 day averaging, is that like Stockcharts?

And F is a hold? with SNDK a sell? I hope for a bounce on SNDK like before. F, I feel(no emotion)upward movement.

Will post later, I need to play a while to better understand.

Thanks,
Second_Life

[Phineas J Whoopee]

Wize, was looking at this earlier. Been searching for trend reversals such as Ford. Found NABI, small Biotech that got slaughtered last November. What I found interesting is how orderly she went back to business right after the selloff.
5 and 10 crossing the 20 on Monday. Am I too early on this one?
1 yr weekly

[3xBuBu]

pick up some F today @7.80

[QuickTrade]

Wize let me know if this is appropiate here. My New Trading Strategy:

You know me, I’m a chart person. I tear apart candlesticks as if they were made of wax. The end of 2005 I started saying to myself, “buy the leg”. Which means buy the stock on the lower leg of the candlestick. So if the stock closed at $10, enter your order for $9.75, not $10. Buy the lower leg. Same for shorting, stock closed at $10, short it at $10.10. There is always a leg on a candlestick, right? But wait, it gets better…

This strategy is perfect for me or anyone taking the smallest gains (.25 - 1%) Lately, I’ve been buying at 3:55pm, right at the close. I’ve been very successful the next morning selling. I was brushing my teeth when finally it hit me!! I was buying at the closing price and obviously the next day there would be that “leg”. So it wasn’t just “buy” the leg, it’s “sell” the leg too. Remember, there is always a leg on the chart. You can pick any chart, and I will show you the 97% accuracy of doing this.

Now the only way you can’t win with this method is, (buying example) if the stock gaps down and doesn’t recover, if the stock opens at the same price and goes down the rest of the day. THAT’S IT. I mean, hey, the stock can go down first but then recover to create that upper leg.

So my point is, if we buy at the very close, we’re almost guaranteed that small gain and hey, we might even catch the gap up and have instant profits.

Thoughts?