Quote from NYC212:
this is killing me, is getting over miss oppertuntities and missed trades that turned out to be huge.
today I was in JPM and WFC early on, they went against for a .30-.40 cents and I got out (prolly got out as I was down on my other trades) but it kills me to know I was in that trade and got out early. they were each 2-3 points
a few weeks ago, I bought SPG a REIT that popped and it went from 39 to about 50 in 2 days (I got out way too soon)
anyways, any suggestions to get my mind out of the "could have, should have, would have"
I just need to delete the ticker on my quotes and move on, but I cannot help to look where the trade went
Trading stocks to make the stock's offer each cycle is a standard routine composed of several parts. These parts have established order of events.
Stocks vary in their propensity to cycle. The best ones are high beta stocks with high EPS and high RS.
Mandelbrotset said something to you and it was hollow and had no substance.
The WHAT is stated just above.
There are 8 parts to a cycle. They follow an order. To enter you watch for the event in the cycle that comes before the entry. Then when the entry shows up you enter. In the case of cycle trading a stock, you get the signal to enter about 1 to 1 and 1/2 hours before price begins to move. you caqn watch a list to see this happening. Call it list 1.
Similarly, as expected, the same is true for the exit.
To use the high beta stocks involves sorting them. It is best to sort them with the cycle of trading in mind as well. It takes the press of a button and the list appears. Call this list 2.
Doing the routine of trading stocks requires that you do what your two lists tell you to do when you are told to do it.
Here is HOW you trade during the day:
Before open put the best stocks on list 2 on list 1.
At open watch list 1 and enter as the signal is given to you.
the signal: Volume reaches .25 or better in an hour to 1 1/2 hours.
Continue to hold stocks that are cycling and when list 1 tells you to exit a stock you are holding do so.
The signal: Volume peaks relative to prior high volume.
As you will see your plate becomes full of stocks that are making you money. Then, you will do the more sophisticated thing and replace those that are making money slowly with those that make money fastly, in comparison. This is called cross over trading.
the main message here is that there are no positions a person ever holds that are in drawdown or are not making a fairly high velocity of money.
If you work at some prop shop, ygo to the trainer and get him to give you the set up on your computer to be able to put up the two lists.
Here is what he will do:
He will give you a high beta sorting lprogram or web site to make list 2. They are all over the place on the web.
Next he will give you the Qcharts or equivalent list 1 sorting site. Qcharts sorts with the column called "unusual volume".
If you can't sort out the best stocks on list 2 put it on Qcharts and sort by unusual volume and just pick off the top 10.
I attached an example for you so you can see what the lists look like near the end of a day. Notice the percent of profits for those at the top of the list.