Quote from drukes1234:
When are trend days in the market most likely to happen? When are days when the market closes at or near high's most likely to happen? I can't really see any edge in holding your position to the close unless there is some reason to believe that we will be closed at or near high's of the day. The only times I see us having a better chance of having a trend day is when important economic data comes out such a CPI, GDP or non-farm payrolls. Is there anything else I should be looking for?
Thanks for all the responses.
Mike
What you should be looking for is the context of the market(s) in which you trade.
A. The scope and bounds of the context of the market is clear.
B. From this setting you zoom in as required to eliminate risk. That is, you take surprises off the table.
C. Prior to every day's opening, you can get ready, properly. Do a flight check.
All of your questions have answers.
When are trend days in the market most likely to happen?
When there is a coincidence of the end of short and intermediate term trends. Two major market forces are at work and you can count on odd harmonics at work. See A.
When are days when the market closes at or near high's most likely to happen?
When R is being tested (short term trend) after a PM BO from a neutral setting (see regression to mean as precursor) and when volatility on hign volume decreases. See B.
Is there anything else I should be looking for?
There are three basic areas.
1. Methods for ridding yourself of many myths that you picked up somewhere. Start with Ch 20 of HTMMIS by WJON. Make a multi column chart of the 18 items and list where you began, then later what put you in worse shape, do NOW, then do column on what repairs you plan for each, have a column for reading sources after that and a column for task time to complete the problem solving. Make page two a journal record of your accomplishments twoards these standard goals as set by other authority figures.
2. Read the wizard books to get a new set of questions that let you seek lofty goals that others have reached.
3. Develop a cogent chart annotating methodology to have every answer in place with respect to the market condition, circumstance and situation. The long term, intermediate term and short term extrapolated channels are a must. channel drawing is not a history lesson; it is a projection into the future of what public opinion is about the near term based upon the symmetric philosophy of history which is established in all most all fields of endeavor of mankind.
4. Get a neutral bias pronto.
5. Get up in the morning before the market opens and do your flight check on the day so you know all the answers to the million dollar questions; everyone else who is mature and adult knows these answers. It is an occupational requirement.
6. Revise your life style and learn to act like a millionaire.
Your questions are lousy simple questions that are much less important than the set of questions that deal with making money.
They are nominal and known 100% of the time by people who are in the groove and know their responsibilities. They are light weight fringe questions that are ALWAYS in view ghosting around on the perimeter of what is at the heart of making money and being rich.
I had a spinster great aunt who never worked a day in her life and supported herself on her investments until she died 32 years ago at age 94. Her father was a minister and did the same. She did C; it was called reading the paper. From that she knew B cold and as days became weeks and months she had a viewpoint on A that was astounding. She made money all her life.
