April 23, 2012
Uncategorized
By Geoff Bysshe
In this post you’ll find a video that shows you more specifically how I adjusted my day trading bias as a result of the New High / New Low indicator’s reading.
In my last blog post I explained how the New High / New Low indicator works, and how it has recently changed my bullish bias to a more neutral bias due to its trend and its drop below the important 70% level.
If you have not read that post from April 20th, I’d recommend you read it before watching this video post.
In this video I also explain why April 4th was such an important day in confirming the bearish implications being anticipated by the New High/New Low indicator. This specific condition on 4/4/12 caused me to be more aggressive in changing my day trading strategy bias.
In order to fully demonstrate what I mean by “changing my bias”, the video will show you how I use the Opening Range day trading strategies to trade from the short side. Plus, you’ll see how well MarketGauge’s trading robots have traded the recent price action! These are the same trading signals we use to guide our traders in our Day Trading With HotScans service.
I’ll also reference a video called, “The 83% Trader’s Advantage”. This video will be released later this week to members of our Day Trading With HotScans service (including trial members).
If you’re interested in day trading stocks, “The 83% Trader’s Advantage”, could be one of the most easy to execute and valuable pieces of trading insight available anywhere. It will give you an amazing statistical edge in determining whether you should trade from the long or short side in any stock or index on a day-to-day basis.
Watch the video to see how a big picture negative condition like the New High /New Low Ratio can alert you to the fact that it is time (right now) to use your day trading tactics to take advantage of opportunities on the short side. For example, it’s a good time to use the short OR reversal pattern, or a 30 minute O.R. breakdown.
After many months of a bull market in which you would have been better off avoiding shorting stocks, this indicator has now declared “open season” for shorts! As a result of monitoring the market’s overall health with indicators like this, and timing our entries with rules I’ll cover in “The 83 % Trader’s Advantage” video, we were able to catch the recent decline in AAPL by being short on both of its two biggest down days in the last 2 weeks.
And even if you don’t like to trade from the short side, this indication should also help you avoid getting too aggressive with your long trades. As you’ll see the reversal trade at the OR high has worked better than the breakout trade.
Also, be sure to subscribe to our YouTube channel here and get all of our free videos as soon as they’re released!