Lazy Afternoon Trading -

Neil · Apr 25, 2002

Lazy Afternoon Trading -

Anyone else restrict themselves to just afternoon trading?

After months of trading last year from the open.. and then from after the first half hour.. I have orbited even further out and now only start from 12.30 - 1.00 ET. As I am in Ireland and local time is 5hrs later this is fairly convenient for me but is not the reason.. just seems to work better for me..

As someone recently said here.. just one or two good trades a day is all you need.. and I have moved from scalping up to 60 trades a day.. bit by bit.. until now averaging 1.5 per day.. and have crossed that terrible wobbly bridge into profit this year.. not an easy task I think...

For me it seems that it helps to let the day progress.. and log on and catch up.. check the charts and try to get a feel for the day so far... I look for potential turning points at or near pivot support or resistance and there are usually plenty of candidates by the time of day I start... it just feels less chaotic to me and easier to spot patterns.. It was an effort to get over the feeling that I am missing all the action.. to notice a huge plunge or rally going on without me.. but practise in restraint has def paid off so far.

Also I am now trading more nyse stocks... of course that helps with the lesser number of trades since sometimes the damn things don't move for hours.. but for now I am prefering them over nasdaq.. like trading in slow motion sometimes.. with some notable exceptions however... lol

So, any other lazy afternoon traders out there?

Neil

candletrader · Apr 25, 2002

I am gravitating to what you call "lazy trading" too; the older I get the slower trades become more preferable...

murray t turtle · Apr 25, 2002

You 're right on good moves in the afternoon.

Still like a.m. moves also and plenty of read time.

Neil · Apr 25, 2002

yeah candle.. maybe its just me getting older.. or wiser.. hmm.. but certainly gives me more reading time.. lol

candletrader · Apr 25, 2002

Kinda weird, but there seems to be a positive correlation between my laziness and how well I have been doing .... like a helping hand from above, this comes after a recent drawdown period...

Banjo · Apr 25, 2002

You're probably just more relaxed, workes for me. Think I hurt myself daytrading CHKP the last couple hours.

Neil · Apr 26, 2002

Originally posted by Banjo
You're probably just more relaxed, workes for me.

yes thats it.. more relaxed.. my trading has certainly improved since I slowed down and took it easier.. I am more receptive now to the idea of surviving the losing periods and plugging away until I return to the gaining days. A positive expectancy and a belief in the probabilities of numbers.. just as it says in the books... cool calm and collected... ask my wife.. a couple of days losing in a row.. not a bother on me... cool as a freaking cucumber... calm as the eye of a hurricane.. as collected as a bunch of nettles...

But I am working on it...

Neil

candletrader · Apr 26, 2002

I am working on it too... it definitely has done a lot for my stress-levels, this more relaxed approach...

larrybf · Apr 26, 2002

Due to my personal schedule I am a morning trader but I have often thought of changing to an afternoon trading schedule. When looking at the charts at the end of the day it appears that quite often very nice countertrend moves occur from the morning highs or lows. For you afternoon traders, do you find this tio be true??? thanks

alain · Apr 26, 2002

<b>Morning traders:</b> from when to when do you trade? Do you have another job beside that one?

<b>Afternoon traders:</b> from when to when do you trade? Do you have another job beside trading?

What are peoples general experience with trading only half a day. Maybe you could add some info to the above.

This running bunny makes me crazy :mad:

alain