5/15/2006 Mon
Some Advanced Plays And
Closing Existing Positions
Gapper's Eye uses the original macro program designed by daytradenet.com
for the CQG chart system.
This system shows
the support and resistance lines as well as the Quattro Setup Zone.
The Break Scan System is provided as one of the Daytradenet members
services.
The Kamikaze Gap Play
was introduced to the U.S. traders in Active Trader Magazine.
This is the last day of the
Advanced trading seminar.
Our first trade was JOYG by
utilizing High-Low Bands Big Gap play.
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We are looking to capture 1 point. The red zone denotes the gap, and the
green zone shows profits.
30-minute chart
GOOG was the 2nd trade.
We got 1.75 points of profits by using the High - Low Bands Gap magic play.
30-Minute Magic Cross Gap Play
This is a daytrading strategy utilizing the Swing
Scan (available soon). Our goal is to take one bar worth of profit
on the 30-minute chart. Just by using the Swing Scan, you can play
both swing and intraday trading.
The Breakscan Pro comes with the 30-minute Magic Cross.
Time like this, you have to use shorter time frame chars.
This was a tough one. Look at the
chart below.
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High - Low Bands Gap Play Watch
We
are releasing the Swing Scan system shortly. As the name implies,
this system is designed to scan candidates for swing trading. If your position moves to the point of
your entry, you can close your position during the market hours.
Be sure to follow the market index closely.
The Nasdaq gapped down at the open.
As I expected, the market made a reversal.
Over night positions
It's time to cover short positions.
27.4 to 26.6
+0.8point
37.5 to 37.2
+0.3point
33.4 to 32.1
+1.3point
381.0 to 371.0
+10.0 point
Swing Scan Watch
Each figure shows the size of
the gap, the order of moving averages, the new high or new low in the past five
days. The trigger indicates the buying and selling pressure. We do not hold
overnight positions more than five days. A long position will be closed when
the stock gaps down. (Sometimes, the position is liquidated on the second gap-down.)
The opposite rules applies for closing short positions.
No trade. Too many down bars already.
No trade. Too many down bars already.
No trade. Too many down bars already.
Gapper's Eye Index
Daytradenet Top
Red and blue zones show the gap of the preceding
day.
The Green zone indicates the profitable zone of
trading.