MILKING THE COWS - RIMM
RIMM is my new fav cow to milk. I traded RIMM a couple of years ago, so I know it's a good cow.
RIMM moves faster than AAPL, which suits me fine. You can sometimes get $1 or more per share in a minute or 2 trading RIMM.
The big money trade in RIMM takes a few minutes but pays off nice.
You wait for the 5 minute candle to touch dynamic support.
THEN WAIT FOR THE CANDLE TO CLOSE!!
That's right, wait for it to close.
Then look to see if there is a tail. If there is NOT a tail, then wait. If there is a tail, you can enter long. Notice, you can usually ride this trade for $1.00. That's one target. The other target is the 50 % fib retrace ( gray dot) of the dynamic support/resistance channel.
Or, if you are really GREEDY, you can wait for HORIZONTAL DYNAMIC RESISTANCE to appear before you exit.
You'll get about 1 or 2 trades an hour but there's plenty of milk in that trade.
For shorts, just do the same thing off DYNAMIC RESISTANCE.
The main thing about this trade is you have to have "trust" the system. Once you do, your pail will runneth over with milk!!
MILKING THE COWS - RIMM
Moderator: moderators
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15558
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3035
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
MILKING THE COWS - RIMM
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15558
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3035
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
kahoonya:
I just switch to RIMM this week so I am trading light 100 - 400 shares.
But don't really have to trade more. $400 a day = $100k / year - not a bad "part-time job"...LOL!!!
Plus you can "scale out" of the trade.
Exit 100 at $.50, Exit 100 at $1.00, let the rest ride!
If you use SL then you set it just below/above support/resistance.
If you feel better trading AAPL, then STICK WITH AAPL!
I just switch to RIMM this week so I am trading light 100 - 400 shares.
But don't really have to trade more. $400 a day = $100k / year - not a bad "part-time job"...LOL!!!
Plus you can "scale out" of the trade.
Exit 100 at $.50, Exit 100 at $1.00, let the rest ride!
If you use SL then you set it just below/above support/resistance.
If you feel better trading AAPL, then STICK WITH AAPL!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
Re: MILKING THE COWS - RIMM
TheRumpledOne wrote:MILKING THE COWS - RIMM
You wait for the 5 minute candle to touch dynamic support.
THEN WAIT FOR THE CANDLE TO CLOSE!!
That's right, wait for it to close.
Then look to see if there is a tail. If there is NOT a tail, then wait. If there is a tail, you can enter long. Notice, you can usually ride this trade for $1.00. That's one target. The other target is the 50 % fib retrace ( gray dot) of the dynamic support/resistance channel.
....
The main thing about this trade is you have to have "trust" the system. Once you do, your pail will runneth over with milk!!
Last week I spent a couple of days trying to trade RIMM with this system. It was promising in some ways although I lost money overall (probably due at least in part to my lack of expertise).
What I found was that RIMM did have several violent moves off the dynamic support line. On the other hand RIMM also had quite a few long downward trends where 5M candles repeatedly bounced off dynamic support and the next bar then fell further. The screenshot shows both of one of those downtrends and a big bounce, here seen in Neoticker using the TRODynamicSR3 indicator coded by Luke with TRO's permission.
I can see that you say that you just have to trust the system. Does this mean that I should take all of the trades and just rely on the stops below the dynamic support level to get me out of poor trades? Or are there other techniques I should apply to help me filter out poor trades?
Thanks
Suss
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.