Frequently Asked Questions
What does a Day Trade Alert and a Swing Trade Alert mean? and
does "scalp" mean?
Day Trade alerts are notifications that a stock may
be entered for a day trade (long, unless otherwise stated). A day trade should be exited
when it hits its target or (trailing) stop and at latest by end of day. If the day trade
designated as a "Scalp," this means a quick trade for 2-4%. Swing trade alerts indicate
stock may be entered for a several-day to several-week trade. Swing trade alerts are
in the Trading Diary (for those who have the swing trade service) and also available by
email. Harry's day and swing trade alerts are trade set-ups only -- not tracked in a
portfolio nor with exit alerts provided.
How can I best take advantage of Harry's Day Trade Alerts?
See Harry's Tutorial on Using his Day Trade
Some key points from the tutorial:
- Day trade picks are reviewed in Harry's live video talks both pre-market and
throughout the day.
- Day trade alerts prior to market open are typically stocks that are big
movers -- often best to buy on first pullback rather than chase on a gap. As
says: "We most often state to wait for the first pullback to see if gap or
support does hold. This pop & retest results in many stocks that hold
then trend or channel up throughout the day (my favorite day trade pattern). It
enables you to stop the trade quickly if the opening gap or nearby support is
violated, resulting in quite small losses and allows you to 'stay with the
- If a stock drops below opening gap price, best to exit and wait to re-enter.
- No need to try to play all the picks, just select a few.
- "Scalp" means enter for a quick day trade.
- Day trading means being out of the trade by the end of the session.
- New subscribers best to observe for a few days before committing to real trades.
What indicators do you follow in day trading to spot breakdowns
I follow 1 and 5 min charts with 21 and 50 day moving averages. (See
on "Moving Averages" below.) Breaks of support, resistance and moving averages on high
volume with intensity confirmed by TCNet's proprietary indicators -- On-Balance Volume,
Money Stream, and Balance of Power -- serve as guides in my trading decisions. The rest
instinct from more than 40 years trading.
What does your trading room like look in terms of
I have three monitors and two phones. My quote system is on a 20-inch
screen with a market monitor of all my stocks and four index charts (2 SPX, 2 NDX). My
17-inch screeen is my Technical Trader screen for entering trades and comments. The
is strictly for my TC Net live streaming charts.
Are the diary trade alerts real, actual fills?
None of the trade alerts are actual fills. Harry's day and swing trade
alerts are meant to be a guide as to his view on approximately when to get into a stock
the stop and target levels to use.
Should you place market orders or limit orders?
This depends on the position of the stock, the volume, the rapid
of it. If a stock's in a consolidation pattern and you're anticipating, you can put a
stop limit order in and wait for it to hit you. If it breaks out and you want it
without missing it, you may want to just put a market order in. Or you can put an order
below the market and let it come to you, as well as be a seller above the market and let
come to you.
What moving averages do you use?
The 50 day simple, the 21 day simple & the 10 day simple. After
40 years of trading, trial & error has told me that the 40 day more closely aligns
price on the daily charts than the 50 day, which is the more commomly used &
moving avg by many traders. However, I've recently moved back to the 50 because it
more leeway. The 20 or 21 also is very good for short term traders (with the 10 day
useful for very short term traders). I am 100% convinced that using these time periods
enhance your ability to pick KEY support & resistance levels, as well as important
How much fundamental research on a stock should accompany a
That varies in opinion. My opinion is it's probably 80-90% technical
you look at fundamentals to see they're at least in line, but most technicians would say
ignore fundamentals because fundamental news is built into the price of the stock, and
technical analysis is a gauge and measurement of price action. It's been proven that
continually repeat the same patterns -- flags, triangles, W-bottoms, head-and-shoulders,
trend lines, moving averages. When the majority of them are in one direction, the stock
a very high degree of probability of continuing to move in that direction until the