Day Trading - A successful method for losers
- Thread starter smashandgrab
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Hi cnms2,
Spydertrader is instrumental in changing my way of trading. Until I read his journal, I always felt like a hack trader. The general trading community buys and HOLDS. I tried to hold myself to this, but never felt comfortable about it. After Spyder's posted success, I embraced my own style and ignored negative advice and criticism.
thanks for your reply
Spydertrader is instrumental in changing my way of trading. Until I read his journal, I always felt like a hack trader. The general trading community buys and HOLDS. I tried to hold myself to this, but never felt comfortable about it. After Spyder's posted success, I embraced my own style and ignored negative advice and criticism.
thanks for your reply
for example ..when trading "es" support may be more defined by observing the "ym " and the other way around it will vary at times- 10,20,30 sma are a good start but i am sure there are others that will help(All sorts of indicators can be added/substituted-but the main idea was multiple time frames with moving averages for S/R). Definitely the two markets compliment one another (i think we were talking intraday earlier). The use of multiple time frames is very helpful along with the constant observation of time and sales...also i found that Dow Transports used to confirm moves especially "ym" breakouts.
If the transports are not confirming a dow industrials breakout there is risk of false breakout- stop chasing and so on. This works well with index futures
:eek:
If the transports are not confirming a dow industrials breakout there is risk of false breakout- stop chasing and so on. This works well with index futures
:eek:If a trader doesn't wait for a good entry he/she might wait longer for a good exit
Hello All,
I've just compiled my weekly list for next week. It's pretty large - 170 stocks. This is the master list I will check and pull from each day. Some on the list are below my standards, but have something in them that caught my eye (I try not to be too rigid). I have done a preliminary check of the stocks I'll be watching on Tuesday - 45 stocks so far. I'm going to need to weed out that list so I will be looking at about 20-25. I find that more than 20 stocks becomes too much for me to watch.
Please feel free to comment and post any additions you think I could use.
future thanks
I've just compiled my weekly list for next week. It's pretty large - 170 stocks. This is the master list I will check and pull from each day. Some on the list are below my standards, but have something in them that caught my eye (I try not to be too rigid). I have done a preliminary check of the stocks I'll be watching on Tuesday - 45 stocks so far. I'm going to need to weed out that list so I will be looking at about 20-25. I find that more than 20 stocks becomes too much for me to watch.
Please feel free to comment and post any additions you think I could use.
future thanks
If anyone is interested, I'm attaching my preliminary list of 45 stocks. I'm doing this so you can see my process.
This week was pretty laborious. I feel like a miner of the old west, scouring the earth for the next big score - it's hard work, but exciting.
Anyone else get that feeling with when they're mining for POS's.
(POS's = pieces of shit) This is what my buddy refers to stock in this style of trading because you couldn't care less what they do or make.
This week was pretty laborious. I feel like a miner of the old west, scouring the earth for the next big score - it's hard work, but exciting.
Anyone else get that feeling with when they're mining for POS's.
(POS's = pieces of shit) This is what my buddy refers to stock in this style of trading because you couldn't care less what they do or make.
I've finally run through the picks for Tuesday. I cut the list from 45 down to 26. I had to cut out a lot of stocks I'd love to be watching, but one can only comprehend so much.
Part of my trading is to perform a market analysis, before any trading is done. My analysis is purely technical and limited at that. I typically look at the NASDAQ and the S&P 500. There are a butt load more indexes I could be watching, but these 2 are my favorites.
What I see so far is that since 1/3/06 we've broken a slightly down trending market. When I look at the market indices, I look at them in terms of channels, so on 1/3 we broke above that down trending channel. I've been watching for 2 weeks now, both indices have formed a strong uptrend. With last Fridays low, there is now a narrow channel that has formed and we are at it's bottom.
The width of the channels on both indices are narrow, as I stated. They look to be too narrow to me which means that the market could correct downward a bit - below 2300/1280. The slope of trend seems unnaturally high. The angle of the slope should relax a bit too - may 15 degrees or so based on previous trends.
OBSERVATION: bottom of a narrow uptrending channel. If we break below 2303/nasdaq or 1282/s&p, caution must be taken due to changing boundary conditions of the channels. I'm still very Bullish, so I'll still be trying to use 100-200% of my trading capital for any position I enter.
I checked the futures markets and they are reading negative at this moment, although Tuesday is still far away (could easily go positive). Earnings season next week. I'll be watching for the first few to roll in to get a feel for their impact.
Part of my trading is to perform a market analysis, before any trading is done. My analysis is purely technical and limited at that. I typically look at the NASDAQ and the S&P 500. There are a butt load more indexes I could be watching, but these 2 are my favorites.
What I see so far is that since 1/3/06 we've broken a slightly down trending market. When I look at the market indices, I look at them in terms of channels, so on 1/3 we broke above that down trending channel. I've been watching for 2 weeks now, both indices have formed a strong uptrend. With last Fridays low, there is now a narrow channel that has formed and we are at it's bottom.
The width of the channels on both indices are narrow, as I stated. They look to be too narrow to me which means that the market could correct downward a bit - below 2300/1280. The slope of trend seems unnaturally high. The angle of the slope should relax a bit too - may 15 degrees or so based on previous trends.
OBSERVATION: bottom of a narrow uptrending channel. If we break below 2303/nasdaq or 1282/s&p, caution must be taken due to changing boundary conditions of the channels. I'm still very Bullish, so I'll still be trying to use 100-200% of my trading capital for any position I enter.
I checked the futures markets and they are reading negative at this moment, although Tuesday is still far away (could easily go positive). Earnings season next week. I'll be watching for the first few to roll in to get a feel for their impact.
I've found 2 more screen dumps of stocks I've recently made money on using my trading plan.
I can only attach 1 file at a time so here is the first stock: MEDX
I can only attach 1 file at a time so here is the first stock: MEDX
... here is the 2nd stock: THOR
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