If something works, it works.
Newbie
- Thread starter leflos
- Start date
I appreciate everyone's response. Glad to see that trading forums are active. Def have work to do with technicals but I've talked with a few people and my logic makes some sense. I trade stocks and etfs in general. I think lots of ppl trade technicals because they already have something to trade. If you are trading gold, news won't impact it the same because of its high liquidity, it's much harder to understand the news and its nuances. On the other hand, you put a nice news on a mid cap stock and I can guarantee that making 1-3% daily is achievable
Overall, if you're trading account is profitable after expenses...keep doing what you're doing and don't worry about the other possible ways unless you feel that your profits so far have been lucky or far too stressful to implement.
Keep in mind, many no longer trade via one thing only...traders are using a combination of things (e.g. news with technicals, fundamentals with technicals, etc)
Based upon what you've stated, you're using technicals with news atm.
Regardless to how many variables you're using...whatever you decide to try next. Test it on your own instead of trying something based upon the opinion of anonymous posters.
wrbtrader
There is ALWAYS a bullish and a bearish interpretation of the news, for institutions. So, price CAN go south on good news and north on bad news. Or north on good news and south on bad news. What counts is which institutions are winning by exerting and pushing the market: the bulls or the bears.
Might be weird but I rarely have a SL as I have alerts instead
I don't think there's a bearish/bullish side on low-mid cap stocks, it's either bad or good.... or not relevant enough to impact the day--to-day trading.
ROFLMAO did you just learn that in the ES this morning say around 9:15 to 9:20 central time? You seem quite animated about the declaration.
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Hmm
Then your alerts would have done some serious damage to you on a short 20 lot ES around 9:15 to 9:20 central time this morning (see above graphic). It happened so fast by the time you dropped your coffee cup and yelled as you unfurled your fingers to punch the keyboard you would had a several thousand dollar loss on your hands.....I know..I know..your strategy would not have had you shorting....LOL ...anyways..fun to look at senarios..Es went from 2651.50 to 2659.75 in 60 seconds on bar 9:19 central time of that highlighted 5 minute green bar.
You might wanna make haste and consider SL’s in this market, especially. But maybe you don’t daytrade??
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