Over the past years, Rick has been specializing in using technical analysis and algorithms to develop day-to-day trading strategies which assist him in the timing of his financial decisions .
One of the keys to his success has been seeking out extreme conditions in the action of stocks. Using those extreme set-ups has guided him in initiating long and short positions based on trading algorithms that he monitors for these extreme set-ups. When a stock is at its most extreme overbought condition, it will be flashing between 99-100 on his Extreme Set-Up scale. And when it is at its most oversold condition, the stock will be flashing between 1-0.The Extreme Set-Up process is a non-emotional trading process that maximizes trading profits with minimal daily trading risk.
Also, this trading process can be used for multiple time frames, including intraday, short-term trading. We focus on the hourly time frame for our short-term trading, but other times frames may be used. If trading on a Daily time frame, we make our Strategic Decision based on the Weekly Chart and the Tactical Decision based on the Daily Chart. It is beneficial to use multiple look-back windows for confirmation.
Our SST trading process has generated over a 90% success rate since inception, winning trades versus losing trades.
In addition, Rick was an author at the Street.Com and a former guest on the Fox Business show “Bull & Bears”.