the mechanical is a trend following system

which requires a trend – looking for a pullback in a trend above or below the 50 SMA

more often than not the trend qualifer is the 50 sma

assume price is above the 50 sma

and price is below the 20sma

and the 10 sma is below the 20 sma

> price + the 10sma + 20sma > 50 sma

entry #1 is when the candlestick closes…

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Hey David.

Thanks for the question. I’ll review it deeper again tonight but in the meantime you can watch this replay. We covered the Mechanical strategy in depth:

https://app.stocktradingpro.com/forums/discussion/12-30-24-monday-stocks-coaching-call-600pm-eastern/

tradersync.com the one I use for the portfolio

https://www.tradezella.com A new, and popular one worth considering

Updated sector watchlists and ETF’s

https://docs.google.com/spreadsheets/d/1kPXZ0FQYijj39vhamTUcHQNaxT5mOqH_jEq2k_sbziM/edit?usp=sharing

docs.google.com

2024 STP | Watchlist Stocks & Sectors

2024 STP | Watchlist Stocks & Sectors

Hey Jon
Quick question… When you review your trades, how many trades would have been big winners?

Pete

Hey Jon

They are exactly the same setup. The only difference is the entry. For the scans I am looking for bullish stocks that have a -2% change from the open, then going chart by chart to see which of them have declined for at least two days.

For the Saturation Play we are buying on the way down, into 80% of the ATR. Making it a more…

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Hey Ed,

At 100% of the ATR. I give it a little extra room after the first entry, but not too much in case it continues to go down.

Entry and Exits

Posted by Ricardo on December 18, 2024 at 10:36 pm

Hello Pete,

I’m having a difficult time trying to find out where to place my entry and exit? Just when I thought I have it all figured out. I’m lost.

On a 5min chart I’m getting it wrong. On Daily I’m getting it wrong.