A few tidbits..

A few tidbits...

I don't really pay any attention to pivots...Time Zones are a priority to me.

I have a very strict set of guide lines on high risk trades...like my Open Gap Strategy, and also the Gap Strategy. My first real opportunity to make a low risk (even though it's a Power Trade) is the 10 o'clock EST reverse. After the first hour we have the 10:30 reverse, and the 30-Minute Breakout.

There are some very repetitious movements that occur almost everyday...I do like to trade them when I get the set-up; they are the 12 o'clock hop or flop, and the ES likes to move toward the low of the day between 1 and 2 o'clock.

Technical analysis is really quite simple, and easy to learn, and with over 15 basic patterns to look for during the day...we always have something to analyze.

The Simple-as-123 concept almost gets lost with all that I just mentioned...but I think about it everyday when I'm looking at these elements...After the first hour I want the market to be in sync (Dow, Nasdaq, and the S&P) I want the Dow to be moving above 25 points and the Naz above 10 and both to be moving...If I'm not near a reversal time zone I pull the trigger if I'm on the right side of the track (Trading with the trend.) Can't remember the last loss when that happens...give it your best shot; remember I'm just looking for 1 -- 1-1/4 points...and the opportunity to trail, and not risking ever more than two points.

I believe the basics -- the 40 things you need to know will make any system, or method better...most of these are just common sense that are often overlooked; and that is why traders make simple mistakes.

There are some simple concepts that help us make some of these rules worthwhile...

1. The high and the low of the day occurs after the first hour...+ - 3 or 4 points.
2. Be cautious trading at the High and Low of the day...need a confluence to do so.
3. After the high or the low of the day have been made...look to be a Contrarian.
4. Wait for the turn...(when the trend is changing, we need the MA and Fast Stoch's to cross) to make a safe trade.
5. Count candles and look for a set-up when Stoch's are at extremes.

Sounds like a lot...but not when you study the chart and observe these traits everyday.