David
David Patrick has traded bond futures,spreads,equities and options for over 20 years. He graduated from The Ohio State University with a degree in Finance, in 1995. He started his business career as a Trust Tax Accountant for National City Bank. He became an Investment Advisor at Olde Discount Stockbrokers in 1998. Five years later he became a top trader for Elite Trading LLC. At this hedge fund, David led a team of traders specializing in bond future spreads to an impeccable track record. In 2008 he branched out on his own and became a very successful Independent Trader. On January 25th, 2013 he successfully launched Fitzstock Charts Premium Service. This elite trading service has helped traders around the world learn his proprietary trading methodology.
I can’t read the notations you have on the charts – too small and blurry. Any way to clear this up?
Try clicking on the charts (they will magnify) https://fitzstock.com/wp-content/uploads/2013/04/sds.png
David:
I just want to be sure I understand this very important rule.
1 – At the open and within the first 5 minutes a stock triggers the buy price. All you do is note the high in this 5 minute window. Now we have established a new trigger price – the high in this 5 minute window.
2 – If the NEW trigger is broken OUTSIDE of the first 5-minute window, that is when you can purchase.
Essentially, you never purchase a stock within the first 5 minutes. However, a new trigger price may be established within this 5 minutes and if so, that is what traders need to use.
Is this correct?
You got it!