The Chairman shares the way he played a screamer in today's Trading for Dummies lesson. It's all about putting yourself in the right place at the right time, and knowing how to manage risk.

Happy Thanksgiving, guys.

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I made up this chart to show how candlesticks on the 10-minute time frame form 30-minute candlesticks. The multi-colored candles are 10-minute and the dark gray candles are 30-minute. This should help you understand how the swings shape up during the day, which should help you improve your intraday execution.

Think about the spots you choose to enter long above or short below, and why you place your initial protective stop where you do. Also consider why the opening range is so important and what the price action at the high, low, and midpoint reveals. Study the bars and think hard about what it all means.

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