Little Chico-Glad to hear you are still making money and letting us know how. Based on your post last week, I looked at the 10 minute chart and liked what I saw there also. For the 5 min chart, I have had the same idea to only trade with the trend. However, when the trend is starting to change on the 30 min chart, it will look like you are trying to trade against the trend. What all this says to me is that there are several ways to make money. My problem is that I have had no time to trade for at least 3 weeks. Building my house is keeping me very busy. I have almost given up on trading the 5 min chart. I will give it a try again with your thinking.
On a good note, for my longer term trading, I went heavy into the Q's (and margin) at the beginning of the month and have made a lot of $ just riding the wave up. I read your posts about when you saw the upturn coming. It was a good discussion.
I still like the 30 minute trading. I paper traded 8.5% for July and 12% for June. Aug is setting at 5%, but we still have almost two weeks of trading to go. It still looks like 2% per week is possible and with the 30 min trading I am comfortable trading more shares. 100% annual return is not bad.
Keep up the trading and posting,
Jon
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