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What a great couple of weeks!
- Thread starter gimp570
- Start date
* use leverage, play big
* take profits more quickly than usual, cut losses even more quickly
* play the ping-pong game as price bounces between sup and resist -- forget about breakouts for the most part. (utilize bands like BB or Keltners)
* make sure the risk/reward makes sense for each trade -- know where the sup and resist is on each trade
* trade in the direction of a longer-term trend and buy and sell based on OB/OS levels on a smaller time frame
Don't be greedy -- play what the market gives you.
* take profits more quickly than usual, cut losses even more quickly
* play the ping-pong game as price bounces between sup and resist -- forget about breakouts for the most part. (utilize bands like BB or Keltners)
* make sure the risk/reward makes sense for each trade -- know where the sup and resist is on each trade
* trade in the direction of a longer-term trend and buy and sell based on OB/OS levels on a smaller time frame
Don't be greedy -- play what the market gives you.
I have found that if I keep my eye on enough markets/stocks a high quality set up will occur in at least one (usually more) at any given time. If your preferred market is not offering you any opportunities it is a good time to start researching another market rather than trading low quality opportunities just for the sake of putting some money to work.
I have to agree "adaptation" is the key here...I switched to a little longer time frame on my set-ups and have been doing more "swing-trading" set ups especially in one favorite stock I've gravitated too....I have to admit I personally have never been more successful in seeing and taking set-ups than in the last month....now I have to admit I have been sitting next to a trader in our office that has been unusually kind to me, showing me his styles, his set-ups and spotting items that I literally have been just banging it since with his mentoring....that has as much to do with it as much as anything.
Now he did leave for a short vacation during the last two weeks and I STILL was net positive after looking at my trading logs over the last two weeks so I am pleased that at least I am "teachable" and learning how to adapt to a very difficult trading marketplace.....
rttrader -
Now he did leave for a short vacation during the last two weeks and I STILL was net positive after looking at my trading logs over the last two weeks so I am pleased that at least I am "teachable" and learning how to adapt to a very difficult trading marketplace.....
rttrader -