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NOTHING WRONG WITH LOOKING AROUND By Alexander O'Malley TRADING METHODS CHART SCREENING We can tell a lot about a stock by just looking at the bar chart. Once a small group of stocks have been selected the charts are eyeballed, flicking quickly through them looking for chart patterns which are not detected by software scans. The chart patterns, or trading opportunities, include trading bands, breakouts and triangles. We also look for more obvious patterns like a continuous downtrend, a breakout, or a strong uptrend. When we know the type of trading we are interested in, trend or breakout trading, this chart screening is a quick and efficient method of selecting the better candidates. If you cannot see the trend in a chart pinned to the wall several metres away then the trend is just not there. You should move onto another chart. __________________________________________________________________________________ It is rare for traders to find a stock that is ready to be bought the next day. Whether you are going long or short there is generally a waiting period between when we find a stock and when it has met all of our entry conditions. Even when traders have all their capital invested in the market they are still looking every day for new opportunities. This allows traders to roll their trades.
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Martin Wong
Trading Coach
Investmatic Management, SoHo, Ara Damansara, Selangor DE, Petaling Jaya 47301, Malaysia
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