Do you expect another sell-off after earnings?

maxinger said:
When market opens,
simply glue your butt to your trading chair, and eyes to the monitor screens for many many hours.

Simply focus on the charts.
when price is going higher, simply long the stock.
when price is going lower, simply short the stock.


Simply leave the prediction to
the fortune teller / tea leaves reader,
professional writer / talker,
newbie traders.
More...
You are a true day trader. A successful day trader gave me the same comments when I asked. He did add one more: ALWAYS CUT YOUR LOSS.

How long have you being trading?
 
ironchef said:
You are a true day trader. A successful day trader gave me the same comments when I asked. He did add one more: ALWAYS CUT YOUR LOSS.

How long have you being trading?
More...


very great question. how long?

I remembered decades ago just when I was working in a MNC, I already wanted to be a trader.
Every night, I'd update my moving average on my chart using calculator and graph paper.
I purchased tons of graph papers.
MA5 would be ( D-1 + D-2 + D-3 + D-4 + D-5 ) / 5.
why did I calculate Moving average?
Because millions of trading books talked about that.
just imagine that when I had to do it for 10 stocks.


Luckily I didn't calculate MA50, MA 200 ....
It would be really really really really hell !!!!
and luckily I didn't add things like RSI, MACD ....

Those were the days before computers were readily available.

Guess what? Now we have computers. And I have zero indicator !
Moving average, RSI, macd, envelope, ADX are really junk.
what strange world.
 
Last edited:
maxinger said:
very great question. how long?

I remembered decades ago just when I was working in a MNC, I already wanted to be a trader.
Every night, I'd update my moving average on my chart using calculator and graph paper.
I purchased tons of graph papers.
MA5 would be ( D-1 + D-2 + D-3 + D-4 + D-5 ) / 5.
why did I calculate Moving average?
Because millions of trading books talked about that.
just imagine that when I had to do it for 10 stocks.


Luckily I didn't calculate MA50, MA 200 ....
It would be really really really really hell !!!!
and luckily I didn't add things like RSI, MACD ....

Those were the days before computers were readily available.

Guess what? Now we have computers. And I have zero indicator !
Moving average, RSI, macd, envelope, ADX are really junk.
what strange world.
More...
Yes, that was how I started too. Most of the 300+ trading books I have talked about TA, indicators, MA, RSI, MACD... Looked very good after the fact but not worth a damn in real time. I think books that teach TA sell well and most authors (educators too) just wanted to sell books.

Now I just stare at charts without indicators, much better. I have @MrScalper to thank for getting me to read raw charts and trade without indicators.

Best to you.
 
ironchef said:
You are a true day trader. A successful day trader gave me the same comments when I asked. He did add one more: ALWAYS CUT YOUR LOSS.

How long have you being trading?
More...

Aren't you an options guy? Us option guys don't need to worry about cutting losses. They are predefined. Now if you were dumb enough to sell your hedge for a gamble than...

Also there might be a problem with us over trading. Even with a spread with max loss of $.50, selling 1,000 contacts could lead to bad things...
 
RGLD said:
Aren't you an options guy? Us option guys don't need to worry about cutting losses. They are predefined. Now if you were dumb enough to sell your hedge for a gamble than...

Also there might be a problem with us over trading. Even with a spread with max loss of $.50, selling 1,000 contacts could lead to bad things...
More...
Yes, I am a dumb mom & pop amateur option trader. Sometimes day trade sometimes swing.

If you write naked options like me, you better have a stop loss planned prior to execution. They are NOT predefined, not this last March.
 
ironchef said:
Yes, I am a dumb mom & pop amateur option trader. Sometimes day trade sometimes swing.

If you write naked options like me, you better have a stop loss planned prior to execution. They are NOT predefined, not this last March.
More...

Why? What happened this past March?
 
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