Stock Swing Traders

Quote from wabrew:

Have really enjoyed this journal. A couple of Q's if you do not mind disclosing source.

One post referred to knowing where instutional buy orders lay. Is this just your gut feel based on the tape?

Also, another post stated you will buy more if stock comes down to area near instutional buy level. This seems to contradict your many posts (and actions) to cut your losses so fast that on exit they really are not losses.

Last, can you tell us how you define weakness? Sometimes things look bad for an hour or so and then the stock or the mkt reverses. Again, is this mostly 'feel' on your part.

Keep up the bold moves.
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Hello wabrew,

Glad you like it,
Heres some insight:

Nothing is based on gut feel, I base everything on specific pricing poiints, if price breaks 20.00 , sell, if price stays above 20.01 , buy.
To know these points , you should daytrade QQQQ/futs a bit..

"Also, another post stated you will buy more if stock comes down to area near instutional buy level. "

Right, In swing trading, my stops a bit more wider, like 20-30 cents, but usually moved to breakeven after.
So within those 20-30 cents, I can keep stacking (within reason)
so if it drops to around 5 cents to my stop, I can add more shares. But once it drops below the stop I need to sell the whole lot without question.


I again state, there should be no type of feel, its all based on pricing ranges, if price breaks X , is that right or wrong?
 
I will be initiating hedging [swing] short postions on the following:

ZMH
PETM
SYMC
DNA
SHLD

tomorrow.

Med PETM
Heavy SYMC
Heavy SHLD
Medium ZMH

Small on DNA
 
I am still short AAPL

although I am sad I did not take on an even bigger size,

I have learned many things since that day.

A lesson a day, is the million dollar way.

As time goes on, bigger swings will be seen, more precision, more money.

Make no doubt about it.
 
I will be shorting LARGE size on symc , espically.

Specialists and MM can never game me now.
hahahaa


I waited for the day where I can drop size and not fear,

I have arrived.
 
You are incorrect about gut feel. All the best day traders I know use gut feel all the time. Gut feel is your intuition and your intuition is built from experiences (good and bad). After you've watched the market enough, you'll understand how gut feel comes into play.

Also, you do realize that ranges are almost always temporarily broken to trigger stops before proceeding in the anticipated direction right? You dont really think that the specs/mm/traders dont know the critical price levels that you know? Of course they do. Sometimes you HAVE to hold through the squeeze when the price passes your comfort level temporarily. There is a difference when the price pierces the level as a squeeze and when the character of the price action has changed. This is really the key.

Quote from coolweb:



I again state, there should be no type of feel, its all based on pricing ranges, if price breaks X , is that right or wrong?
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Quote from Steve Tvardek:

You are incorrect about gut feel. All the best day traders I know use gut feel all the time. Gut feel is your intuition and your intuition is built from experiences (good and bad). After you've watched the market enough, you'll understand how gut feel comes into play.

Also, you do realize that ranges are almost always temporarily broken to trigger stops before proceeding in the anticipated direction right? You dont really think that the specs/mm/traders dont know the critical price levels that you know? Of course they do. Sometimes you HAVE to hold through the squeeze when the price passes your comfort level temporarily. There is a difference when the price pierces the level as a squeeze and when the character of the price action has changed. This is really the key.
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I am not a daytrader [anymore].

Business is not ran on gut feeling, Its run by numbers.
Exact numbers. Precise numbers.

One cent / number off, and your stock falls down a cliff.

There are no feelings in business. Nobody cares how I feel.
I surely <b>don't give a shit</b> how they feel as well.
 
Quote from Steve Tvardek:

You are incorrect about gut feel. All the best day traders I know use gut feel all the time. Gut feel is your intuition and your intuition is built from experiences (good and bad). After you've watched the market enough, you'll understand how gut feel comes into play.

Also, you do realize that ranges are almost always temporarily broken to trigger stops before proceeding in the anticipated direction right? You don't really think that the specs/mm/traders don't know the critical price levels that you know? Of course they do. Sometimes you HAVE to hold through the squeeze when the price passes your comfort level temporarily. There is a difference when the price pierces the level as a squeeze and when the character of the price action has changed. This is really the key.
More...

Thank you Steve for providing something tangible and realistic. What you discuss is the heart of the matter - an individual's comfort zone. Where do you admit you are wrong? Is it a monetary value? Maybe an insecurity in the position... Where and at what price is everyone else who SEES what I SEE is going to do the most comfortable thing... Where will their perceptions cause the most anxiety? This is a thinking mans game, the numbers just provide a score card - and honestly, the numbers, as far as where you enter and exit, mean ABSOLUTELY NOTHING.

Coolweb - is it possible for your egotistical ASS to set aside your fear for a few f--king moments? I'm trying to engage you in a discussion about your personal relationship with money and the market. This relationship is what you have to understand to become a discretionary trader... You could care less and this is why I know you are struggling. The people who follow you around (Steve_T , myself and others) went down the same path at one point and are very capable of reading in between the lines.
 
02/10/06 09:44:00 -2292 SOLD Short SYMC Market Day Executed @ 17.11
02/10/06 09:39:00 -2292 SOLD Short SYMC Market Day Executed @ 17.21
02/10/06 09:32:00 -2290 SOLD Short SYMC Market Day Executed @ 17.19
 
02/10/06 10:14:00 SOLD Short PETM Market Day Executed @ 24.80
02/10/06 10:13:00 SOLD Short PETM Market Day Executed @ 24.78
02/10/06 10:11:00 SOLD Short PETM Market Day Executed @ 24.79

02/10/06 10:11:00 SOLD Short ZMH Market Day Executed @ 68.07
 
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