May 13, 2011
I don’t use Volume…I prefer to use SPEED in my day trading
– Speed and how we use it
– I wanted to know what was happening RIGHT NOW, not 5 minutes from now, or 5 minutes ago…..RIGHT NOW.
– Speed at the Open
• Speed at the Close
• Speed of the Time & Sales Window
• Speed of the Patterns Developing on your chart (how quickly does the pattern form?)
• Speed of each Pattern Triggering according to rules (when does it trigger?)
• Speed of the Follow-thru after the pattern triggers, filling your profit targets
• Speed of the Continuation of the move, rather than the failure
• Speed of the Exhaustion of the move
• Speed of the Reversal of the move
• And the process starts all over again….
• Speed of the Time & Sales Window
• Speed of the Patterns Developing on your chart (how quickly does the pattern form?)
• Speed of each Pattern Triggering according to rules (when does it trigger?)
• Speed of the Follow-thru after the pattern triggers, filling your profit targets
• Speed of the Continuation of the move, rather than the failure
• Speed of the Exhaustion of the move
• Speed of the Reversal of the move
• And the process starts all over again….
There are lots of times when speed is important, but let’s focus on the big three:
• Speed of Tape
• Speed of Set-up
• Speed of Follow-thru
o We saw an excellent example of how we used the speed to make REAL MONEY TODAY
