Tachyonv
Intraday Volatility Method (Discretionary). Target $500 profit per trade. 

Set up: 

- Find equities having >= $2.00 intraday EMA (exponential moving average price range) over past 34 trading days; last closing price between about $30 to $125 per share; beta <= 0.7; average daily volume > 800,000 shares. Put these into a RadarScreen table with whatever columns of data you wish. 

First scan with TS scanner to find up to about 950 candidates with above parameters excluding the beta. 

Then copy and paste those symbols into Tradable Symbols indicator (loaded into RadarScreen) to further filter those candidate symbols. 

A link to this indicator is below. 

Set Tradable Symbols indicator's APR_Recent Days input parameter to 34. Leave the other input settings at their defaults. 

Sort (double click)on the APR_Recent Days input column to get in sequence of highest to lowest value. 

Select those symbols having $2.00 or greater recent APR and which are not rejected due to other reasons (Reject message on left in red). 

For each of the viable symbols, look up beta at Yahoo finance http://finance.yahoo.com and keep the symbols whose betas are about 0.7 or less. 

Exceptions to beta parameter: ETFs and ETNs do not have betas. Use common logic/sense to select those which do not necessarily follow the markets closely. Do not use ETFs and ETNs which are in effect market indices. Among those which work well, as examples, are UCO, FAS, ERX which obviously do not always closely follow the markets. Those to avoid, as examples, include BGU, BGZ, DDM, MVV, MZZ, QLD, QID, SDS, SSO, TNA, TWM, TZA, UWM. 

Symbols which pass these filters are viable for this method. 

Tradable Symbols indicator will additionally reject symbols which have had volume too low on too many days - in other words, with unreliable liquidity. Unaware of any other tool that can do this. 

- For each symbol, set up one desktop containing Time and Sales window; 5 minute interval chart; daily interval chart; week interval chart; each with the default number of bars. Format bars to candlesticks. Add Keltner Channels All indicator to top pane of each chart. %R to middle pane. Volume Exponential Average indicator to bottom pane. 

- Study, learn intraday cycles using the Excel spreadsheet at the link below. This spreadsheet is conceptual, no particular day matches it exactly and some days match it not at all. Be sure to set the spreadsheet's adjustment for your desired time zone. 

Trade: 

FIRST, at the start of each trading day: 

- Check the earnings schedule for each individual stock, at Yahoo!. You might skip symbols a week before their earnings announcements, to avoid getting trapped by rumors and leaks which are negative most of the time, and trapped by negative earnings surprises. On the other hand, it helps if there are positive rumors and leaks. Usually if a firm beats the street expectations, its stock will soar, whereas if it misses expectations it will plummet. Earnings projections also impact the stock on the day and day after of the announcement. 

- Another fly in the ointment is "The Motley Fool". Majority of its articles are negative. Tends to drive an individual equity symbol down for one to several days, when it issues an article. Tends to make its negative comments self-fulfilling prophecies in the short term. Check premarket on Yahoo! for each symbol, to see if the "Fool" has just assassinated any symbols you intend to trade - whether using this method or any other. Avoid symbols with "Fool" articles about them within the past week or so and especially the days on and after the "Fool's" attacks. 

After the above two checks, then trade as follows: 

- Buy 1,000 shares at a low price between the open and 10:45 AM Central. Much of the time, the best prices are between 9:15 AM Central and 10:30 AM Central. May be bought in any multiple of 100 shares, depending upon liquidity. 

- Sell 1,000 shares after price has risen $0.52/share, the two pennies to cover commissions. May be sold in any multiple of 100 shares, but once you decide to get out, get out as fast as you can. 

- Price will not necessarily bounce up $0.52/share. Exit regardless by 12:35 PM Central. Exception: on a moderate to strong bullish day, use a tight trailing stop, or visually monitor to exit, let it run to a larger profit. Do not let the price gain drop below $.52 on such a day. Once profitable do not let price drop into a loss. 

- Does not matter much if markets are up, down or flat, providing entry is at a sufficiently low price. Providing you stick to symbols whose beta is <= 0.7. Exception: those exceedingly rare days when the markets start down at the open and continue down through 12:35 PM Central. Take the loss at 12:35 PM Central or before. 

Advice: 

- Emotions: do not get elated or discouraged during the trading day. 

- This method works well a high percentage of the time but not 100%. 

- Be patient. Be VERY patient when trading this. 

- Often the lowest prices of the morning are between 9:30 AM and 10:30 AM Central. Study the history of each symbol to see if there is a recent repeated pattern of such lows. Often the highest price is at 12:35 PM Central followed by a decline. Sometimes, not infrequently, prices rise around 1:00 PM Central, a bit more often after 1:30 PM Central. 

- Watch %R, Vol indicator, KC for visual clues, which with practice will become obvious and instinctive. 

- Do not get greedy. Often you will leave $ hundreds, and rarely even $ thousands of profit behind. Train yourself to have no regrets. The objective is to gain up to $500/trade, slow and steady, day after trading day. Get greedy and like any method, inevitably there will be a large loss coming with your name on it, perhaps a long string of losses. 

- This is a high win rate method with relatively low risk. If you are not achieving 80% to 93% win rate or if you are suffering a large loss once in a while, then you are probably not trading with sufficient self-discipline, and/or too impatiently and/or not paying enough attention to/understanding the indicators. Or gambling greedily by buying more than 1,000 shares per symbol per trade – which is poor risk/money/position sizing management. 

- Judgment is required for entry and exit, watching the indicators and time. This is not a good candidate for automated trading. It appears to be simple enough to automate, but trade this manually for a month or so, and you will see why this is not such a good automation candidate. 

- If something about the day, charts, etc., does not instinctively seem right, don't trade. It is perfectly fine to sit on the sidelines for a day, a week, a few weeks. I do it. A better trader, Larry Williams does it. Jesse Livermore once said that he made more money sitting in cash sometmes than when he was trading. It is GOOD to sit on the sidelines sometimes, not bad. 

- Trader beware. There is more to this than what I have described. Easily learned by simply studying the charts and sufficient practice trading. 

- Deviating from the above may result in otherwise easily avoided losses. Symbol selection is critical and DOES require use of RadarScreen and the Tradable Symbols indicator. The TS scanner is insufficient. Am unaware of any scanner on the Internet which can scan as well as RadarScreen and the Tradable Symbols indicator. Manually look up beta's on YHOO, does not take very long. TS beta values are on a different scale than those at YHOO. Including bata in a TS scan will exclude ETFs and ETNs, an undesirable effect. 

Links: 

https://community.tradestation.com/discussions/Topic.aspx?Topic_ID=36865 

https://community.tradestation.com/discussions/Topic.aspx?Topic_ID=36820 

https://community.tradestation.com/discussions/topic.aspx?topic_id=18787 

https://community.tradestation.com/discussions/Topic.aspx?Topic_ID=36561 

Addendum trade rules: 

- One trade per symbol per day. Do NOT exit then get back in. 
- OK to scale up entries, but not to more than 1000 shares per symbol. OK to scale down exits, although most of the time it is best to get out fast, especially if it is not at least a modestly strong or better bullish session. 
- Once exiting has begun, continue until done. Do NOT add to a position once exiting has begun. 
- Do NOT carry overnight and especially do NOT carry over a weekend. This is an intraday trading method, NOT a swing trading method. 

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//Strategy
//Intraday Volatility Method by Tachnov & Redlock.txt

INPUTS: 
	TimeBegin	(  830 ), 
	TimeEnd		( 1045 ), 
	DeltaPrice	( 0.52 ), 
	LowBarsAgo	(  3   ), 
	ExTime		( 1245 ), 
	StpAmt		(    0 ), 
	TrlAmnt		(    0 ), 
	ProfTrgt	(    0 ); 
 
VARS: 
	LLow  ( 0 ), 
	Check ( 0 ); 
 
 
//  **** CALCULATE VALUES **** 
 
LLow  = Low[1]; 
Check = Lowest(low, LowBarsAgo); 
 
 
//  ***** ENTRIES & EXITS ******* 
 
If ( MarketPosition = 0 ) And ( EntriesToday(Date) = 0 ) Then Begin 
	If Time > TimeBegin And Time < TimeEnd Then Begin	 
		If LLow < Check[2] Then Begin 
			Buy Next Bar at market; 
		End; 
	End; 
End 
Else Begin 
	If Open > ( EntryPrice + DeltaPrice ) Then 
		Sell ("PP") Next Bar at (EntryPrice + DeltaPrice) stop; 
	If Time > ExTime Then 
		Sell ("TimeExp") Next Bar at Market; 
End; 
 
 
// ***** PROTECTIVE EXITS ***** 
 
If ProfTrgt > 0 Then 
	SetProfitTarget(ProfTrgt); 
	 
If TrlAmnt > 0 Then 
	SetDollarTrailing(TrlAmnt); 
 
If StpAmt  > 0 Then 
	SetStopLoss(StpAmt);