Monday, September 13, 2010

Update: PLCE


PLCE met the target, nearly 9% in 7 trading days.

7 comments:

First thing you need to read on my blog said...

wow, such a dynamic move today. Congratulations!

By the way, trying to understand more about your approach.

Is it good for hours charts?

I know you mainly trade on daily chart....

thanks.

UCLATRADER said...

in thoery, it should work, but i never traded on hourly chart. i use 5 min chart to pinpoint my entry.

First thing you need to read on my blog said...

so you search for possible break out in daily chart, and then sharp your entry point by using 5 minutes chart?

then how to exit? using 5 minutes chart as well?

sorry for asking too many questions. I am still digesting your method. :-)

It is really good so far. That RDWR is really unbelievable!

Congratulations!

UCLATRADER said...

i use daily chart, sometimes weekly chart to exit, by looking for the resistance level. if daytrading, i will use 5 min chart.

First thing you need to read on my blog said...

you do daytrading as well? I thought you are pretty much of swing trade style.........

I used to use 1 min chart to try daytrading, but the result is not so beautiful.....so you use 5 minutes charts, how do your daytrading so far?

thanks.

UCLATRADER said...

i m not a typical daytrader, i only daytrade when the profit is too good in a short time of period, like JOBS today. i run a daytrading firm in beijing and i know how hard and frustrated to trade with 1 min chart. daytrade is a tough business, much tougher than swing trading. i would say to normal traders, stay away from daytrading. tougher biz, smaller profit, why bother?

First thing you need to read on my blog said...

Very good comment. yes, I gave up 1min chart trading, now try to test if 5, 10, 15 minutes work better...lol


But still you are right, swing trade is more stable and less noise. I am trying option strategy as well, not so good, but it is good in a trendy day.