TXN was on my 64 List twice. I added NVAX
Swing Trading For a Consistent Return
- Thread starter Illini Trader
- Start date
Generally toward the end of the day when I am confident of the daily bar. That said I missed getting in ROKU and PTON this afternoon so I plan to sell a couple of the weakest positions to make room for them in the morning. PS: The TOS cash report has the time-stamp of every trade if you want to see the details.
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In this experiment I have not, except in looking at a partially filled daily bar that shows movement. Like the other day when I reversed from short to long on ZM intraday. I would have done it sooner but I was with my wife most of the day who was having a procedure done.
Earlier in the thread I showed a spreadsheet of trading AAPL on the 1000 Tick chart for the month of December as a PDT and that was pure daytrading being flat at the end of the day. The Fibs might actually work better intraday but I am trying to find a fairly simple way to manage money for income just looking at the market mainly the last hour of trading.
I bench mark against the SPX and NDX but my goal is not necessarily to beat them but to have a steady annual return that survives a severe downturn or even a bear market on a large invested amount.
You have me thinking though so I might add a 78 minute chart that divides the day into 5 equal candlesticks.
Earlier in the thread I showed a spreadsheet of trading AAPL on the 1000 Tick chart for the month of December as a PDT and that was pure daytrading being flat at the end of the day. The Fibs might actually work better intraday but I am trying to find a fairly simple way to manage money for income just looking at the market mainly the last hour of trading.
I bench mark against the SPX and NDX but my goal is not necessarily to beat them but to have a steady annual return that survives a severe downturn or even a bear market on a large invested amount.
You have me thinking though so I might add a 78 minute chart that divides the day into 5 equal candlesticks.
Thanks, easymon1 for planting an idea in my mind to look at intraday charts. I have been looking at all my trades that have seen profits disappear into losses. For example MSFT from June 2 to June 4 my very firsts trade on my spreadsheet.
The 78 Minute would have given me the opportunity to get out on June 3rd at a profit and also gave me the signal to do so as the 61.8% retracement held up and it bounce all the way back to the 50% retracement line. Chart is attached. So, I have been cleaning house this morning and beginning my transition to the 78 Minute Candlestick.
Easymon1 also said Hey, if it is not working like you want "change the parameters". This is all just an experiment anyway so I am free to do just that.
The 78 Minute would have given me the opportunity to get out on June 3rd at a profit and also gave me the signal to do so as the 61.8% retracement held up and it bounce all the way back to the 50% retracement line. Chart is attached. So, I have been cleaning house this morning and beginning my transition to the 78 Minute Candlestick.
Easymon1 also said Hey, if it is not working like you want "change the parameters". This is all just an experiment anyway so I am free to do just that.
Some ET'ers are connoisseurs of the Art of trading via experience, instinct, etc.
Fans of the documented Trading Plan - a "set of instructions" as it were may find value in the following posts.
What would you say belongs in a solid trading plan?
'What is your process?
https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706
"...
The main thing is to have one, few retail trader do. Keep it simple- a few lines will get you started, you can always add on to it.
https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-2#post-5011924
Fans of the documented Trading Plan - a "set of instructions" as it were may find value in the following posts.
What would you say belongs in a solid trading plan?
'What is your process?
https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706
"...
The main thing is to have one, few retail trader do. Keep it simple- a few lines will get you started, you can always add on to it.
https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-2#post-5011924
2 to 10 days is commonly thought of as a swing trade.
Many swing traders will get setups from a daily chart and gear down to a 10-minute chart for an entry trigger off That chart.
More than one way to skin a cat.
Sold out most of my older positions today and some of them I have had since my first day in this Journal, entry on June 2nd. I kept one trade XOM and entered 3 new ones. A review of my Entry and Exit dates would seem that most of my trades qualify as swing trades but to me it does not matter what their called.
Attached is the TOS Cash Ledger for Mon-Tues and my Updated spreadsheet.
W/L is now 15-19 with a Profit Ratio of 1.07 and a net loss of 11.91 on closed trades.
I replace NDX with DJI in my benchmark comparison so I now compare with SPX and DJI.
NDX was making me look bad
-- Seriously NDX can get on a run and leave everything else in the dust so I figure SPX and DJI are more my style.
Attached is the TOS Cash Ledger for Mon-Tues and my Updated spreadsheet.
W/L is now 15-19 with a Profit Ratio of 1.07 and a net loss of 11.91 on closed trades.
I replace NDX with DJI in my benchmark comparison so I now compare with SPX and DJI.
NDX was making me look bad
-- Seriously NDX can get on a run and leave everything else in the dust so I figure SPX and DJI are more my style.