Is it because I dont care?

[kiwi_trader]

Quote from cashmoney69:

One year?..I say a year because when I look at the CCI, it reads 166. I've never seen a CCI reading that high on daily charts.

Good logic ... but ... 27 minutes from first bar to last bar. My point is that there are two opportunities to buy and sell the middle in that period and that although some might consider 2 trades in 27 minutes to be scalping others (like me ) might consider that swing trading.

Vital's point to Steve about not disrespecting other's timeframes applies to all of us. What I do on a short timeframe is very much like the swing trading an end of day trader might do. And if it suited better you could find the same structures on longer term intraday timeframes.

But the most important point made here (get the middle bit is a pretty good second) is that you really really need a solid trading plan. The third most important might be to focus on your education now and switch to eod swing trading to keep ur fascination with trading going. Eod swing trading might also improve your profitability.

 

[cashmoney69]

Quote from Mike805:

Nathan,

You're young - that's okay, just make sure you set some reasonable goals at the moment. IMO school should be your #1 priority (but I'm just a guy on an internet forum, so by no means should you listen to me). Given you will trade regardless, you next goal has to be a good/detailed trading plan. I'm not talking about screening for potential setups, thats the easy part - any halfwit can do that, what I'm talking about is attempting to define, initially, the skillset you believe you have that will allow you to make money. Whether this skillset is technical/psychological/analytical, make an effort to define it and refine it during and after each trading day.

You're young - that's okay, just make sure you set some reasonable goals at the moment. 1 trade a day..$ 30.00 - 50.00 target. Four trades a week..about $ 200.00 a month. What do you think about this goal?

(but I'm just a guy on an internet forum, so by no means should you listen to me). I agree that an education is important, however I'm running out of interesting subjects to take that are somehow or another related to this path.

Whether this skillset is technical/psychological/analytical, make an effort to define it and refine it during and after each trading day. I use about 6 indicators, so I guess that makes me a technical trader..thats my edge (skillset).

* NOTE TO SELF - re-read "Trading in the zone"

 

[cashmoney69]

Quote from kiwi_trader:

Good logic ... but ... 27 minutes from first bar to last bar. My point is that there are two opportunities to buy and sell the middle in that period and that although some might consider 2 trades in 27 minutes to be scalping others (like me ) might consider that swing trading.

Vital's point to Steve about not disrespecting other's timeframes applies to all of us. What I do on a short timeframe is very much like the swing trading an end of day trader might do. And if it suited better you could find the same structures on longer term intraday timeframes.

But the most important point made here (get the middle bit is a pretty good second) is that you really really need a solid trading plan. The third most important might be to focus on your education now and switch to eod swing trading to keep ur fascination with trading going. Eod swing trading might also improve your profitability.

I like to take advantage of the first hour of the trading day. Maybe thats whats killing my account and should focus on trends after the lunch hr?. your thoughts..

 

[kiwi_trader]

I don't trade the US markets but have always sort out the trendy periods of the markets I do trade. I do find that if my market starts with too much of a shock I am best to walk away until that shock is absorbed.

 

[vital-statistix]

Quote from cashmoney69:

I like to take advantage of the first hour of the trading day. Maybe thats whats killing my account and should focus on trends after the lunch hr?. your thoughts..

This is one area you need to take a close look at.

The first hour is normally a crapshoot, there may be a lot of order coming in through brokers from the EOD / EOW traders and you are then competing with the best of the best intraday professionals.

Found attached clock somewhere on the web. You may want to take a look at that. Keep a record of the time you execute your trades, certaint times of the day are better than others.

Kiwi-trader - apologies if I offended, it is just that sometimes we have so many things that we look at that we forget how much we ourselves have up on the screen.

vital statistics

 

[Qwerty]

Quote from Cashmoney69: CBSS is one I've been watching
this stock is just screaming "SHORT ME!" ...and that I will.

__________________________________________________

Careful Cashmoney69, the bulls just recently broke above a 3 month trading range. What is a trading range? it means that bulls will not yield to the bears below support & bears will not yield to the bulls above resistance, in other words, the bulls & bears are fighting for control of market direction. What does all this this indicate? it means that bears are weak because they failed to contain bulls below resistance. The fact that bulls countered aggressively above 56.40 rather than the bears countering aggressively below 56.40 like they had in the past was a clear sign that the bears condition was weak & continues to be weak. The bears failed to defend that strategic battle line.

To help you understand better, let's use a metaphor, imagine resistance being an immense wall that protects a city. As the encroaching army of buyers gets closer to the fortified city, what is the aim of buyers? It's to break beyond that wall that is preventing them from pushing the market higher. If you were an inhabitant of a city & you saw the immense wall crumbling before your eyes, do you honestly believe that the army within the fortified city was becoming stronger?

Just remember, If you decide to sell, do so with the understanding that bulls are likely to be calling the shots in the near future. I'am not implying that it's not advisable to sell @ all, what I'am making clear is that we must be mindful that bulls are most likely to be in the position of power or more dynamic than bears in the near future. Will the bears case become strong anytime soon? not likely, the bears have been taking a pounding from bulls for several years.

 

[kiwi_trader]

No offence vs. And nice clock.

I neglected to mention that the numbers on the chart are just the high and low of this bar and the prior one. I use this to make it easier to see the price I'm dragging a stop up to or down to.

For the boards amusement: vs's point was an excellent one. I realised in replying that I haven't used volume on hsi for over six months so I removed it from all my charts --- liberation

 

[AKUMATOTENSHI]

Cash,

How long did you paper trader for during your 7+ months?

 

[Steve Tvardek]

Fair enough. I am not here to diss trading styles or hurt feelings. Cash's methods havent worked for him thus far and he is looking for guidance. And, while my methods are not the only ones out there that work, they do work. I have traded/trade alongside some very good daytraders and I know the majority of them talk about the importance of catching the meat of the trades intraday rather than looking for only the top or only the bottom.

Anyways, it very well could be that Cash and I trade different time frames and my advice isnt going to be helpful. Thats fine too. I just figured I'd offer my 2 cents and see if he could possibly use the advice to better is trading.

Quote from vital-statistix:


Please refrain for dissing other traders trading methods, it does not lend credibility to your viewpoint of "mine is the only way to trade".

The youngster under discussion has still to learn that patience is the key. And that is only learned over time which is more likely to be measured in years than in months. But such is the "iWant" generation: they want it NOW!

 

[cashmoney69]

Quote from AKUMATOTENSHI:

Cash,

How long did you paper trader for during your 7+ months?

7 months. I got a paper trade going right now in yhoo, bought at 26.94. Been holding this one for a while and so far seems to be worth it, eventhough its moving slowly.