Thursday, August 07, 2008

Chart patterns are improving my trades

I took some trades in AAP and made some money. By drawing some trendlines I was able to see a triangle forming. I bought after it broke out and made a quick scalp. It then consolidated and formed a box pattern. I bought some shares again when it broke and made another scalp.




The pattern that I didn't take. What a nice move. Next time when I see this I should grab some.
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3 comments:

HPT said...

O shit, the Boob pattern. Reminds me of the Cock and balls pattern

1:17 AM
OBAT said...

The cock and balls pattern was a classic.

1:20 AM
JMJAtlanta said...

One of my favorite patterns:

http://www.elitetrader.com/vB/printthread.php?threadid=128320

8:58 AM

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About Me

I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.