The "mirage" profit target is kind of what I intuitively believed in terms of hopping onto trends.
I was thinking about choosing previous highs, even though there weren't any evidence that this would act as resistance.
Perhaps the 2:1, reward:risk is not easily applicable to hopping onto...
I only started retail trading this year (what a year to begin!). I'm buying long on a couple positions after this 4 day rally and hoping it sticks. For the moment I'm keeping my strategy to buying certain EMA crossovers since a crossover is the most tangible thing to see and not so subjective as...
haha, i did not take that trade but happy to find it for somebody. Im staying close to 70% cash due to the current status of things, but i did make some money back last week!
So basically the run up to the day that I bought was too steep/significant? It did pull back some, setting up my 7EMA crossover but the stock was already exhausted by then?
Okay, that makes sense to me.
thank you
I've not read them. I've read three books, none of which were those authors, in addition to countless youtube videos. I've only had a crack at this for less than two months so I am not the most well read trader, if I can even call myself that.
So according to my little setup. $CPM on 2/18 looks...
Thanks for the encouragement. I started this adventure at a terrible time for the market. It is hard to know if I'm to blame or it's the state of the economy. I have no real money experience before the new year.
Besides the stacking MA setup (7ema/20ema/50sma/200sma), the other things I scan for are avg. volume >200k and ATR >0.5. I don't include any fundamentals since I'm not trying to buy and hold for long periods.
At this point I do not feel confident enough to attempt shorts even though I...
So I started live trading at the end of December, which has not exactly gone to plan.
My basic plan has been to buy stocks whose EMA(7) crosses the EMA (20). To ensure the stock is REALLY in a trend I've added the SMA(50) and SMA(200) to charts. The price has to be above both the SMA(50) and...
N00b here.
I've set up some scans on desktop TOS hoping it would populate stocks onto TOS Web version so that I can play stock broker at work without downloading software to company computers.
Will the scans work on TOS Web premarket? No stocks resulted this morning.