Hit and Run Candlesticks Frequently Asked Questions
Q. How do I receive your Featured Trade Idea?
A. Simply register with this link – Featured Trade Idea Registration
Q. What is the T-Line?
A. The T-Line is the 8 exponential moving average. The “T” in T-Line stands for Trend Line and or Trigger Line. You may also want to read a few articles I have on the T-Line, Swing Trading the T-Line, T-Line Trading, Trading the T-Line
Q. What is a PBO?
A. PBO (Pull Back Opportunity) After a stock has rallied, you will see profit taking. I start to look for a PBO when the profit taking has finished and the buyers are stepping back in.
Q. Can I use the T-Line on an intraday chart, i.e., the 5 min?
Q. What Stochastic do you use?
A. I don’t normally use Stochastic as a trading indicator but more as a broad indicator; 12.3.3 is the standard and at times I might play around with the 5.33.
Q. What are your favorite setups?
A. Rick’s Trap, PBO’s (Pull Back Opportunity,) J-Hooks, Double Bottoms, Pin Ball and Rounded Bottom Breakouts.
Q. What moving averages do you use?
A. For the daily chart my standards are: 2 ema, 8 ema, 20 sma, 34 ema, 50 sma, 200 sma.
Q. Do you use the same moving averages for intraday?
A. I use the 2 ema, 8 ema, 17 ema, 20 sma and 200 sma.
Q. What intraday charts do you use?
A. 15 min, 30 min, 60 min are are my favorites.
Q. Do you scalp, day trade or swing trade?
A. Yes! I do all 3. I believe a day trade or a scalp should come from a good daily swing trade chart. I am what I consider a PROFIT TRADER.
Q. What is the swing low & swing high?
A. The swing low is when the 2 ema crosses up through the T-Line/8ema creating a swing low buy signal, and a swing high is when the 2 ema crosses down through the T-Line/8ema creating swing low sell.
Q. How may monitors do you use?
A. Currently five.
Q. Why do you use the SPY and SP-500 over the DJ-30?
A. I feel the S&P-500 is a better gauge of the market compared to the 30 stocks in the DJ-30.
Q. Do I need to login to the members area to enter the live trading room?
A. Just once, and that’s to retrieve the new password for the month at the beginning of the month. After that you can login from any gold and blue live trading room button.
Q. Is there a place where I can find economic data each day, such as Housing Starts, FOMC Meetings, Jobless Claims?
A. Yes, there is. On the Hit & Run Candlestick webpage, top black bar, left click on Resources, look down on the left side, and you’ll see Economic Calendar.
Q. Is the trading room open after the market closes?
A. Yes, it is open 24 hours a day.
Q. Do you use TC 2000?
A. Yes, I believe it’s the best program out there.
Q. What time does the trading room get active?
A. At 9:00 a.m. EST Monday through Friday I come on to discuss today’s members’ trade ideas, and then other than lunch, I am there most of the day. Also note that the trading room is open 24 hours a day and more times than not there are a few people chatting, sharing charts, posting information throughout the day, pre- and post-market. The amount of information you can pick up from the trading room pre- and post-market is truly amazing because of the great members we have willing to share.
Q. Is there a list of stocks that goes with different sectors?
A. Yes, there is. On the members’ side of the website, there is a list of sectors with the components of those sectors.