MACD/Trendline Swing Trader

Donna,

The markets can take a lot from this man, but not my humor, therefore I win in the end no matter what! Tuscon... mmmmm...

You and HANS.. peas and carrots... question for you.. do you allow overall market noise affect your day-trading? It really shouldn't but it does me. Her Majesty is constantly watching CNBS telling me this and that and I say aaaaarrgghhh!! shut it offfff...!
 
Quote from retire45:

Donna,

The markets can take a lot from this man, but not my humor, therefore I win in the end no matter what! Tuscon... mmmmm...

You and HANS.. peas and carrots... question for you.. do you allow overall market noise affect your day-trading? It really shouldn't but it does me. Her Majesty is constantly watching CNBS telling me this and that and I say aaaaarrgghhh!! shut it offfff...!
More...

My day trading is affected by any move against me. I use tight stops or L2 action to get me out if The Market won't play nice.

However, some of my trades have been put on as either day or swing and I'll add if they move against me (HANS, HOTT, ORLY are a few), so I look at the bigger picture on those.

I'm recently rethinking that second strategy altogether and leaning toward strictly day trading with tight stops, because of all the overnight gaps and crazy moves out of nowhere.

And then I see many of my day trades so hugely profitable had I been patient and swung 'em.

There's the rub, and I know you fight with that one too.
 
Diabolical day today... Trading with ego and opinion... Stayed long FAZ all day (bought it after removing a trigger for over 60.5 figuring 55 was even better since SP was DEFINITELY going to 706.) Fought the market with ES all day, trading what I am thinking rather than what I am seeing..

There is a name for this type of person but I prefer not to use profanity.
 
Splitting account leaving me in the potential Pattern day trader prison caused a very bad situation in FAZ. Entered it with breaking a rule, realizing afterwards I am unable to put a stop on it that day. Still have it 16 points down and using that illegal trader word.. "hope". Hope 38 holds on Monday or I'll have take my medicine. In hind-sight, should have pulled the weed even if it meant relocating to Tradestation and quitting stocks for now. The cost so far a much greater nuisance. Bulls sure have shorts in a vice for now. Nothing transfers wealth like triple Leverages ETFs. Yet I fly close to them.

6 weeks of nothing. The answer to the question in my head still is "however long it takes".
 

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For FAZ, where did you buy in, and are you still holding? I trade it religiously and usually don't hold for more than an hour or two for a quick profit. But right now I am in your boots. I bought in at $45.40 on Thursday. Until now, I never try calling bottom, but at the time it made too much sense to buy FAZ. It still makes since for me to hold. The fundamentals of the banks aren't much different from last week and they are now up 60% and 70%. So I decided to keep it over the weekend and see what Monday brings. (another thing I don't usually do is hold over the weekend) I hate that this is just gambling, but it seems right.
 
I am in mid 50's (that's why I am down 16 or so). Remember with FAZ/FAS, they actually swing ok but only over a prior day high.. Critical it is the FIRST day this happens to be safe.. Anything else is gambling as markets were (are) just looking for a reason to squeeze these smug shorts that have so punished the whole country (LOL).. Suddenly even BAC now says they made money last 2 months.. As always you know what happens to pigs in Markets. Don't let it below 38 after 10:15 or so Monday as you WILL get your money back long on FAZ, from where we have no idea. Being early not smart as when it does go there is a lot of points for everybody.

Stay neutral mentally though. March rallies (see last year) "usually" last till May.
 
Out FAZ .. 37's. Likely I will be unhappy about that but when or if it properly reverses I will rebuy from wherever that is. No more undisciplined daft trades.
 
Quote from retire45:

Out FAZ .. 37's. Likely I will be unhappy about that but when or if it properly reverses I will rebuy from wherever that is. No more undisciplined daft trades.
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I feel your pain...every minute thinking, this has to be the bottom but it never happened. I threw in the towel on my FAZ trade a bit over $35. Discipline needs to be king!
 
We all have this need to perfectly pick the bottom or top because we want THE WHOLE move. Just another type of greed. At 3pm or so one of these days it will give a buy signal. Could be from 35... or 15, or 10.

*** ANYTHING CAN HAPPEN ***
 
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