Video Diary of Direct Access Stock Trading. Low risk modest consitent profits

T

TradeTheFunk

I have decided to post my last few trading days on You Tube. Nobody else was showing winners AND losers in real time and explaining their decision making process. Right now, I only trade stocks. I wish I had something like this when I first started trading commodities back in 1994.

If you like the videos or find them informative, please rate them or comment on them at youtube.com and I will try to make some more.

http://youtube.com/profile?user=sgomez858
 
Somebody asked me why I scale out of my winners quickly and if I didn't I would make more money at the end of the day.

That is a fair observation. Over the years, I have seen winners turn into losers very quickly and I guess its just my nature to lock in profits before they disappear. I will keep that comment in my head and try to hold on to size a bit longer because I think that is a valid point and I appreciate his comment on youtube.

Thanks for watching.
 
Nice videos. Keep up the generous work man.

Intersting though that you began in futures and switched to equities. Usually its the other way around.
 
Quote from Oz435:

Nice videos. Keep up the generous work man.

interesting though that you began in futures and switched to equities. Usually its the other way around.
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Yes I have heard that before. I got caught up in the Direct Access SOES trading thing in 1997 and have never left Equities. I see more opportunity for the setups I like to trade in the morning. I can't trade just one market. I go crazy on slow days.
 
Quote from TradeTheFunk:

Yes I have heard that before. I got caught up in the Direct Access SOES trading thing in 1997 and have never left Equities. I see more opportunity for the setups I like to trade in the morning. I can't trade just one market. I go crazy on slow days.
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Thanks for the videos. I get crazy trying to trade more than one market!! To each his....
 
Somebody emailed a good question so I thought I would answer in public.

<B>questions
Hi!

Nice trades! I'm curious, what kind of scan do you do? Do you look for gappers in the morning, or run a scan for stocks breaking 52 week highs or lows?

Also, where do you learn how to read the tape so well? I've never been able to find a resource that teaches in depth how to read it. Is it just experience? Thanks for any help.</B>

Yes to both scans. Sometimes a gap setup is also a 52 week high setup. I say Perfect! I scan for certain type of gap patterns and volume parameters. I also scan for explosive moves up and down. I trade news and the ETFs (QQQQ, SPY, BHH, OIH, GLD)

Reading the tape is just years of observation and gut feeling. Read "Reminiscence of a Stock Operator" about Jesse Livermore and his uncanny tape reading abilities.

Thanks for your comments.
 
Is there a specific strategy you are following? You mention Harvey Walsh sometimes, but as far as I'm concerned he trades quite differently. The trades you take often are not patterns I would favor. So I guess you mostly go by experience and intuition?
 
Quote from prince-in-jail:

Is there a specific strategy you are following? You mention Harvey Walsh sometimes, but as far as I'm concerned he trades quite differently. The trades you take often are not patterns I would favor. So I guess you mostly go by experience and intuition?
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I trade a few strategies and setups that I have found work for me. I have never only traded one system or strategy alone. One of them is the morning gap plays much like Harvey Walsh. However, I have many other discretionary setups that have come from experience only. What works for me may not work for others. Trading is more an art form than science in my opinion. Therefore success is very subjective.

Thanks for your comments

http://youtube.com/profile?user=sgomez858
 
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