Did You Do Your Homework?

OK, time to fess up
gang.
Now we get to find out who read the
lesson
over the weekend. If you did, then you would have spotted all four
reversal entries shortly after the open and perhaps be done trading for the day.
If you didn’t, please take a few minutes to review the various reversal entries
described in the lesson, which can help put some of my constant daily babbling
into perspective. The one-minute chart below reflects an almost identical repeat
of the chart in the lesson.

Monday  July
9, 2001  10:55 AM EDT

As the day wears on,
I’ll be looking to the critical 13-minute 15 MA for crucial clues as to whether
the cat is dead or not.

Simplicity Rules

I often receive questions asking whether I use other indicators, such as
Fibonacci retracements, to guide my trading. While I greatly respect other
methods and those who use them, I’ve opted over time to keep my intraday trading
as simple and consistent as possible and have grown comfortable with my “MSB”
trio of MAs, Stochastics and Bands to gauge trends, strength and ranges. As I’ve
said before, there are hundreds of ways to trade and there’s certainly no magic
to this or any other process. Just give me a few basic signals to tilt
probability in my favor, an order-entry system, and a liquid market, and I’ll be
very content to let trade management, time and probability do the heavy
lifting…whether it’s trading the Qs or watermelon rinds.

Good trading.

Don Miller

For
a more in-depth look at how Don trades the QQQs, click here.

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