Hi - that's correct re I use time & sales, my tape reading tactics, not LII. And for all stocks, I teach how to set triggers both long and short, in-directional and "fade" entries, to capture volatile moves regardless of market direction or stock trend. The key is to spot volatile stocks that are moving (eg AAPL, RIMM, VLO etc) on the days that they're moving, and set entries that capture a part of the move -- never to forecast price direction -- we React to what the stock price is doing, not predict.

-k

Hi Ken, I use 2 T&S screens for the same stock. One regular and one filtered to show only trades of 400 and over. In fast moving stocks I find it helps me keep track of the momentum of blocks around breakouts. I just need to be able to see it from the corner of my eye to judge the velocity and weight of trading. If i have been looking at/trading another stock and after notice this stock is making a move, it's also good for rewinding back fast to look at the block trading at previous support/resistance without trailing though millions of 100 block sizes to see them. Mike

Hi Ken, I remember reading somewhere on this site that you'll often observe the tape of a particular ticker (like AAPL), sometimes for as long as 20 mins, then checking the trinq, mkt conditions, etc before entering.

Would you mind sharing what you're looking out for? Seems easy looking at how you do it in the jumpstart video, but it's actually quite challenging...or maybe I've missed out something.

Hi all members,

I usually base my entry/exit strategy by:

Entry Point

1. Decide which pair you are going to trade.
2. Find out all major trends by checking the different interval forex charts. For example, 1 hour, 4 hours and daily forex charts
3. Plot the trend lines through the high points if it is on a downwards trends and plot the low points if it is on an upwards trend. You will need at least 2 months of data to be able to plot out the trend lines
4. Mark the support and resistance levels
5. If the price is almost approaching the trend line you have drawn, wait for it to move through or below the line before proceeding.
6. You might want to also check the RSI indicators to see if they give you a warning. Also make sure to check the MACD and Stochastic levels as well.
7. Make sure for the next 2 or 3 days, there are no major data releases for the two countries’s currencies. It will cause some fluctuations in the prices.
8. Get in and start trading but use no more than 10% of your capital
9. Place a stop loss but do not place it so far enough that you won’t make a profit. I would suggest 100 pips as a recommended stop loss point.

Exit Point

1. Put a take profits limit order. Set it to between 30 to 50 pips. If possible, place it just ahead of a major support or resistance level. Also, make sure your limit order is about 15 to 20 pips away from the S/R level.

Regards

great post, thanks - it would be interesting to see other traders' strategies as well... it's a solid approach for active traders.

__________________
Good trading,

Ken Calhoun, Pres.
http://www.TradeMastery.com (NEW for 2012)
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http://www.ChartScans.com (daily alerts)
http://www.DaytradingUniversity.com
http://www.TradingTelevision.com
http://www.StockTradingSuccess.com (w/Steve Nison)

p.s. per sec/cftc/ftc regs, none of this is to be construed as trading recommendations, it's just for educational use only, so you can "peek over my shoulder" to see what I'm doing with some of my trades. See www.daytradingu.com/disclaim.htm for full disclaimer.
These pages contain excerpts of actual trades I've made; it's not a complete record of every single trade I make. Some days I'll take trading wins or losses that I do not take the time to screencap and post online; it's a partial record of some of my trades. Note that I am not making income nor profitability claims of any kind. Most traders lose regardless of what they do. The majority of my personal income comes from my training business. I try to capture the best highlights of successful days so you can see practical examples of what I'm trading. There are also days in which I incur losses (and wins) which are not shown. This is simply a partial record showing highlights of some of my successful trading days. No representation is being made that other traders, including customers, will be able to trade like I do. Generally expected (average/typical) trader results are that all traders incur trading losses and most do not become profitable, regardless of the training they get. Trading is a speculative, high-risk activity.