B) At the bottom of the page, click on the "Live Picks" link listed under the category name "Top Features" (See Figure 1).
Figure 2
C) Lastly, from the homepage, as well as any page on the Tradetrek website, you can click on the "Technical" button on the top horizontal blue navigation bar, then scroll down and over on the secondary navigation bar and select "Technical Live Picks" (See Figure 2).
The Live Picks are continuously updating throughout any given day. Some Live Picks may appear in the morning and remain as effective picks all day, while others fall from the Pick list quickly if the pattern no longer becomes favorable for immediate trading opportunity, and finally some are not added until the end of the day near the close. The program scans the market and posts the Picks all day long, so it is important to monitor this feature frequently. There is a time stamp noting when the Pick list is updated.
Once at the Technical Live Picks page, you will see a list of the pattern/strategy names, e.g. "stochastic combo," in the middle of the screen and the corresponding stock ticker symbols on the right hand side of the screen. The potentially Bullish patterns/strategies are presented in green towards the top and the potentially Bearish are shown in red just below. Patterns that are not yet confirmed by volumes or other parameters are presented in blue in the Watch section. In order to see a particular Pick, just click on the stock symbol.
The Live Picks feature is available to Tradetrek Basic members at a 1-day delay, while Tradetrek Silver and Gold users access the Picks in real-time.
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3. How do I understand the technical chart's pattern?
Below in Figure 3, is a selection from the Technical Live Picks, it is an example of a Triangle Breakout technical chart.
Figure 3
The chart covers a 3-month history of the daily prices and volumes for GSB. The last point, the cyan-colored bar, is presented in real-time; moving dynamically as the last price changes! To help you visualize the "Triangle Breakout" stock pattern, our computers automatically draw two (blue) lines that outline the shape of the "Triangle." You can also see that the volume for today is larger than the average volume over the past 20 days. This is a classic bullish Triangle Breakout pattern and it is a potentially profitable buy signal. Please be aware that, before the end of the trading hours, we project the volume to the time of today's close in order to determine whether the volume is really larger than the average daily volume. Therefore, the volume for today (the cyan colored bar at the right end of the volume chart) may appear lower than the previous days' volume while the daily projected volume is actually higher.
Below the chart and real-time quotes, Tradetrek provides a simple analysis for your reference:
"Analysis: GSB shows a Triangle Breakout with high volume. The optimal entry level is 19.76 with a stop loss at 19.4375."
To learn more about these technical stock patterns, please visit Tradetrek University and read in detail about all of the stock patterns and trading strategies covered by the Technical Live Picks.
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4. How do I use Technical Live Picks to help me trade stocks?
The Technical Live Picks at Tradetrek.com is a powerful tool for you to quickly gain access to stocks that show interesting technical patterns.
If you are already a seasoned technical trader with your own trading models and strategies, you can first narrow your focus to the stocks posted in Live Picks, examine them using your specific methodologies, then make your final buy or sell decisions. With this tool, you can avoid wasting time to randomly seek stocks that show your favorite technical patterns: Tradetrek does the work for you, posting them on Technical Live Picks!
If you do not have a pre-determined trading strategy yet, you can try out some of the Technical Live Picks from Tradetrek.com. It is important to understand that the technical analysis only provides you with a technical perspective of the stocks, and there are many other factors that affect the behavior of stock prices. Here is a list of points you must keep in mind when you make use of the Technical Live Picks:
1. Always study the fundamentals of the stock. Find out what the company is, what industry it is in, and what has happened recently with that company. Any news? Special events? Use Tradetrek's 6-Month Target/Fundamental Analysis tool to see if the stock is a fundamentally/economically strong or weak.
2. Use Tradetrek's Neural Network 5-Day Forecast tool to get another technical opinion on the stock.
3. Apply Tradetrek's Block Trade/Institution Watch function to analyze the stock to see if institutions are buying or selling the stock.
4. Apply the following extra rules to further examine the stocks:
a. If the stock is of an 'intrinsically explosive character,' then the breakout and breakdown models work well. Otherwise, such models do not work well for the stock. For example, Internet stocks, biotech stocks and young high-tech stocks are of such explosive nature, while energy stocks, retail, and commercial banks are not.
b. Be aware of the general trend of the market. In a bearish market such as the market in the recent year (2000 to 2001), breakout models usually fail and breakdown models usually work
c. For none-explosive stocks, the mean-reverting types of models work better. Such models include "Stochastic Combo," "Bounce Back from 50-day Moving Average," and "Triple Top/Bottom Bounce Back." (See the University for further explanation).
d. Trend reversal models fail more often than they are right. So, though Tradetrek posts them, we advise extreme caution. If the Trend Reversal turns sour, you should promptly cut loss. But if it is right, you can make a much larger profit.
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Overall, you have an edge if you systematically use the Technical Live Picks. Before making a buy or sell decision, be sure to examine the stocks with additional indicators as noted above. Remember, never make a trade if you do not feel comfortable with it; there are always many trading opportunities, everyday. Certainly, you should never worry about missed opportunities.
Once again, we reiterate, please read through the Tradetrek University to obtain a more in-depth understanding of the trading strategies presented in the Technical Live Picks.
