StockFetcher Forums · General Discussion · Holy Grail to daytrading here<< 1 2 3 4 >>Post Follow-up
12 posts
msg #88170
Ignore stargazer
2/12/2010 12:11:06 AM

I took a 1 hour screenshot of JYHW
From the open, all the way through to the end of the pattern so that you can see the pattern to completion..

The time you see on Quotetracker is central, but it's wallstreet time when it dipped below 20..

Here's the stock pic you can see a screenshot.

Larger pic

It's not a great stock, plus it's an otcbb stock, i never trade those, I just put it here to show the pattern..

683 posts
msg #88195
Ignore duke56468
2/12/2010 11:46:30 AM

Thanks..... very clear.

683 posts
msg #88199
Ignore duke56468
2/12/2010 11:57:22 AM

Chet....Is there a filter that will show stocks with slow stochastics (28,1) ranging from 80 to 20 in one day and give a count of days?

2,817 posts
msg #88200
Ignore chetron
2/12/2010 12:09:14 PM


2/12/2010 11:57:22 AM

Chet....Is there a filter that will show stocks with ranging from 80 to 20 in one day and give a count of days?


SET{VAR1,DAYS(slow stochastics (28,1) BETWEEN 20 AND 80,100)}

DRAW slow stochastics (28,1)



683 posts
msg #88226
Ignore duke56468
2/12/2010 4:05:48 PM

Thanks Chet ...I think I'm looking for above 80 and below 20 in same day

12 posts
msg #88238
Ignore stargazer
2/13/2010 4:15:26 AM


Nice set up,but is it consistent?

I really need to mention that in those 3 and a half months, there were a few times when it would hit in the afternoon, instead of the morning. I would be there staring at the computer all day thinking what the heck happened until it finally hit. But the majority would hit 2% in the morning..

And If I remember correctly, 4 times where it couldn't go up and hit 2% and I had to wait until the next day or the day after for it to hit the 2% limit sell order. Had I gotten out if it didn't hit that very same day, I WOULD have made a loss..

So yeah, becareful...I don't think there is a holy grail..

671 posts
msg #88251
Ignore miketranz
2/13/2010 3:11:11 PM

Stargazer,when I saw that the set up you trade must trigger by 10.30,it rang a bell with me.I trade a method that must trigger by 10,after that I turn my screen off till the close.I haven't found any edge trading intra day after the open.I also trade on the close,sell on the open,certain set ups.That's the total extent of my trading.You're on the right track to consistent,profitable trading using that kind of set up.The trouble is,after a while,they go away.It just goes to show you 90% research 10% trade...

349 posts
msg #88252
Ignore gmg733
2/13/2010 4:01:05 PM

This might shed some light on things. I took this off of one of TRO's post some time ago and it helped me understand intraday price action.


Reversal Periods

Reversal Period 1 9:50 - 10:10 Many stocks reverse their trends. When stocks open up with strong buying, specialists and market makers were forced to take the other side of the longs and sell short. They have no intention of riding losing positions forever, so they start "dropping the bid" so they can cover their shorts at a profit. Observe how open positions and possible new trades handle the 9:50 reversal period. This can be a good weeding technique for discarding weak trades and possibly beefing up strong ones.

Reversal Period 2 10:25 - 10:35 Here, strong stocks that didn't pull back around the 9:50 - 10:10 reversal period start topping out. This is an important period to be aware of. If you buy a stock before 10:00 am and it soars through the first reversal period, don't assume it's clear sailing for the rest of the morning. Chances are the stock will top out around 10:25 and then pull back or "come in" (retrace price movement back toward opening price or last support area) before it makes the next move.

Reversal Period 3 11:15 - 11:30 If you are using the short-term momentum strategy, you will also be looking for the lunchtime reversal that occurs fairly often. As in the early-morning reversal, stocks that have been moving up into this time period will often go through a sharp reversal during this time. Sometimes this occurs at 11:30, sometimes at noon, and sometimes it doesn't seem to occur at all, but keep your eye on this because it can be a great opportunity for scalping.

Deadzone 12:00 - 13:30 Institutional managers and the majority of players leave their desks for lunch; stock and overall market movement quiets down. Stocks tend to fall off, or slide down slightly or even steeply, depending on the morning's activity and strength . Go to lunch. This is not a time to be trading. You can only get into trouble. This is the time the market makers play games with inexperienced traders.

Reversal Period 4 13:30 - 13:45 Start scanning 5 minute charts for strong stocks in an uptrend that have pulled back a fraction of a point from their daily high before lunch and are forming a tight shelf of consolidation.
Focus on the best candidates by zeroing in on those with consolidation candlesticks closing on their highs.

Reversal Period 5 14:15 - 14:30 Short-term momentum traders should return from lunch around 2:00. This is when the volume returns to the market, and with it's return comes the momentum plays. It is critical to trade this strategy when there is sufficient volume in the market.

Reversal Period 6 15:00 - 15:15 Bond prices affect the stock market so when they cease trading, the market breathes a sign of relief as though it's shooed a cranky child outside to play.

Reversal Period 7 15:30 - 15:40 During this time, swing traders decide if there is a stock worth holding overnight in anticipation of a sharp increase overnight. If the market is strong at the very end of the day and if the individual stock is at it's day's high at the very end of the day, you need to decide whether to buy and hold the stock in anticipation of a gap occurring the following morning.

Other swing players that are already in a trade will use this time to decide whether the risk/reward relationship is strong enough to hold their stock overnight or whether they should exit their positions before 4:00.

Now all you have to do is couple the REVERSAL PERIOD KNOWLEDGE with what the TARGETS for the day are and you have your trading plan in place.

If SPF hits the DROP TARGET around 10:30 EST and stops/stalls then all you have to do is buy and have your TP set for the BOUNCE TARGET.

If SPF hits the RUN TARGET around 10:30 EST and hasn't hit the DROP TARGET, you can look for the PULLBACK TARGET, as well as, the DROP TARGET.

Had you bought SPF at 10:30 each day, you could have sold for a profit later in the day. IT'S TOO SIMPLE!!

Of course, ANYTHING CAN HAPPEN and that's what makes trading TRADING!!

355 posts
msg #88283
2/15/2010 2:09:25 AM

Added BB's to the 28,1

Fetcher[DRAW slow stochastics (28,1)
set{ss,slow stochastics(28,1)}

set{SD20,2 * SD}
set{BOLU,ss10 + SD20}
set{BOLD,ss10 - SD20}

draw bolu on plot slow stochastics (28,1)
draw bold on plot slow stochastics (28,1)
add column vbw
volume > 200000

12 posts
msg #88289
Ignore epoch
2/15/2010 10:38:21 AM


Have you considered following up on gappers/ early runners to find candidates that meet your criteria. You could run a SF query at 10:30 such as

[set{var1, open - close one day ago}
set {var2, high-close one day ago}
close between 5 and 10
var1 > .10
average volume(30) > 500000
add column var1 {Gap}
add column var2 {High}]

I do this between 11:00 and 11:30 EST using 3 min charts and BB (40 , 2) and BB (40, 1). I've noticed that early runners that retrace to a swing low just as the BB's are constricting after expanding due to the early run up sometimes resume their move up at that point.

The scan I use turned up NTES and PRAA Friday. They resumed their move up at 11:30 after gapping up at the open. Stoch 28,1 crossed 50 at 12:00 or so.

The filter above (looks for one digit stocks) turned up MOT which went up later in the day. I feel the candidates need to be moving on news related (earnings etc) reasons and not just moving with the market.

No holy grail but this set up provides a good visual key to look for as I'm scanning charts


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