How to deep dive daily
I am interested in trading the most explosive moves for the week or month. By studying these daily, you know the nature of moves in 5-day time frames.
If you want a hold period of one month, do this Deep dive for one month, six months, or a year, depending on your objective.
Just do one thing daily without fail.
Study stocks that are up 20% for a week and up 100% for a year
Everything you need to make money, you will learn from that.
You need to understand the nature of stock moves and how they start, progress, and reverse. Doing this daily will give you a working model of what works in the current market. Then, you can start designing the scans to find them.
This study will help you develop "your understanding " of market moves. Once you have sufficient experience of doing this, you can start discounting a lot of conventional wisdom or market speak. Because you can see what the Guru is telling you on Twitter in the book or in a blog, it is not in line with what actually happens in the market.
How can you do this
Run simple scans in Telechart
Study Bullish 20% c/c5>=1.2 and minv3.1>100000 and c>=5
Study Bearish 20% c/c5<.8 and minv3.1>100000 and c>=5
Study 20 Dollar plus Bullish c-c5>=20 and minv3.1>=100000
Study 20 Dollars plus bearish c5-c>=20 and minv3.1>=100000
If you are trading low-priced stocks, you can eliminate the last condition of c>=5
3 comments:
Sir - for those who don't have Telechart access - could you please explain this formula or code for non Telechart users. I understood c and C5. What is minv3.1? Would really appreciate your guidance.
Study Bullish 20% c/c5>=1.2 and minv3.1>100000 and c>=5
Study Bearish 20% c/c5<.8 and minv3.1>100000 and c>=5
Study 20 Dollar plus Bullish c-c5>=20 and minv3.1>=100000
Study 20 Dollars plus bearish c5-c>=20 and minv3.1>=100000
Minimum volume is 100k in each of last three days not counting today
Understood. Thanks for the quick response Sir. Appreciate it.
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