Friday, March 23, 2007

Day Trading

Today I worked on my day-trading skills. I'm fairly new when it comes to day-trades, but I made 2 profitable trades today. I have been learning a lot from Trader X, Filtering Wall Street, and Bullish Jim, even Woodsheeder has helped me with my Technical Analysis.

My first day trade was KOMG, I waited till the price got above the opening range on the first bar. Look how it just exploded to the upside on the 5th bar, my entry point. That's what traders are looking for, a dip from the gap up, and then a move past the opening price. Then you look to sell when it crosses the EMA.
Time: 1 day
Frequency: 15 min
Chart style: Candle stick
indicator: EMA 5

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