You must practice practice on many charts to get acclimated to the rules.
You need nerves of steel to get hit with minor losses.
We all know everyone needs a few dollars for lunch money and or paying the car payment. Simon can do this for us.
Per Simon Sez III rules
Buy one bar after the Price Label as DAY ONE that has been posted and let it ride for 6 days and ca$h it in.
2a. Sell if within the 6-day period when the price label appears at the top to prevent any further losses.
- Beginners, buy in multiples of 10 shares. eg. 10 20 30 40 50 100 . . . . .shares.
3a. Advanced swing traders buy in multiples of 100 shares. eg. 100 200 300 400 500 1000 … shares.
- Pick a chart from your own pool of candidates or from a scanning tool showing prices right out of the gate.
4a. Price being the “Gate”. We use the expression “Out Of The Gate” to talk about doing something right away. If you do things out of the gate, you do them without any delay.
- Review the opportunities as an example of ACCO. . . . . ACP | StockCharts.com
AAPL, CELH, MU, SQ, GM, UBER, CAR, LYFT, MGI, WU, TRU, UA, UAA, KIM, HDSN.
ACP | StockCharts.com if you can see this chart.
However, I have a scanning tool from Stockcharts that finds the stocks right out of the gate.
Create a pool of 10 stocks and let it rip.
Earn a substantial amount of money.
Thanks Quillnpenn! I assume your scanning tool mentioned is the Out of the Gate signal Xover, which you posted to Andy. I opened an account with stockcharts so I’ll start studying charts…
"Per Simon Sez III rules:
Buy one bar after the Price Label as DAY ONE that has been posted and let it ride for 6 days and ca$h it in."
Here’s a variant for your ‘Smiley Face’ system that might explain why it works. You mentioned ACCO, which --actually-- would be a company worth owning a piece of. (Founded in 1893. Based domestically in Illinois. Designs, manufactures, and markets consumer, school, technology, and office products. What’s not to like about that?)
Anyhow, here’s ACCO’s chart at Friday’s close, with a Smiley Face appearing at the ‘hard, right-hand edge’.
Per my rules, I couldn’t buy ACCO the next market day. But let’s work some magic and scroll the chart back a bit to see where the previous low was, which was Dec 19. Ignore the lower wick --which is what BarChart cues of off to mark lookback low and high, and, instead, focus on the close for the day. Next place a horizontal line on that price, which establishes and projects a Support Line.
Now reposition the chart as before so that Friday is at the edge of the chart.
Yeah, prices closed a bit below that Support Line, but well above the low for the day which is what BarChart focuses on (and mistakenly so, I think.) So here’s the trading problem. There is only scant evidence that prices won’t go down some more and the same scant evidence that they might go up. So, what to do? A “traderly” tactic would be to write a ‘buy-stop’ order (or Market If Touched, aka, MIT) with the stop set just above Friday’s open. The thinking would be this. If prices continue to drop, the order would expire unfilled. But if prices reversed and moved up on Monday --but didn’t gap-- then the order might get a fill and put the trader in the catbird’s seat.