How to: Break-outs - Page 2

Best Thread Ever

I know this is redundant, but after playing around for multiple hours and going through the screening, you certainly see to a tee what you are explaining! It's nice to know what people are talking about when they say, "This chart looks great!" So I just want to say thanks again Mitzer. Not only have you provided education, you've also provided so many useful !FREE! tools, that I never would have found on my own. I really feel that I will be making some money because I read this thread, and when I do I owe you one Mitzer.

Mitzter that is

Mitzter, how long have you been doing this technique?

Great info Should be Stickied!

this should be stickied!

Mitzter, Thanks for your great tutorial and especially the 'screener' at http://finviz.com. However I was unable to find out xhua or biel which are both pinksheets using the screener. Likewise could not find these tickers at http://www.freestockcharts.com/.

Excellent reading for getting some new, different insight on ways to enter a security before a breakout, and then riding its wave. I have also been following along on your thread. Keep it up, and Thank you much.

Great job Mitzter

Do you also use any indicators ?

Hey, this was an interesting read.

Do you have a standard # of shares you buy or a standard amount of cash you invest in any one stock? If yes, mind sharing? If not, how do you determine those things when entering the trade?

To add on to this, Chan posted an AWESOME post on money management in the stickies.

Mitzer thanks for the great thread and I like the approach. It is always a good sign when people can readily use strategies so easily, the KISS rule is in play here!

Question, do you ever export the data to Excel? You can flip it all back and forth between there and Access and really enhance the data analysis. For example, you could easily write a query in Access that would indicate which tickers are trading above all three of the 20, 50 and 200 day SMAs. You could find out which are trading less than say 100% above their 52-wk low, and which have an RSI between say 40 and 55. This would be easy and quick... do you think that would help the screening process at all, or are you just bringing up charts that show the pattern, and that's all you need is to look for the consolidation?

Hope my question makes sense and isn't too garbled.

That was excellent, good work and thanks for the advice. Ive been using 5 minute and have had too many fakeouts. I also like the website you use im giving that a shot monday!