miketranz
956 posts
msg #85538
- Ignore miketranz
modified |
1/4/2010 10:02:48 PM
Day trading is the most stressful type of trading there is.However,if you just trade the open,as in fade the gap,milk the cows,it's really not that bad.You should be in and out within the first 15-30 min.The open is where all the movement is.Most of the time,the entire day range takes place within the first 30 min.After that time frame,it's very hard to make any money,and you will burn yourself out.The next best short term trade is "buy on close","sell on open".There are stocks that gap up like clockwork.This trade should last no longer than 2-3 min.The bottom line is focus on one or two stocks at most.You will get to know their every movement and have the ability to act upon that knowledge.Swing trading is less stressful than day trading.Most of the time you're guessing where a stock is headed.Unless you're lucky enough to buy into a strongly moving stock,you're just trying to predict market direction.In all my years of trading,I was never a good "predictor".Nowadays I react strictly to what's in front of me at the moment,take my best shot,knowing I have the odds stacked in my favor through experience,focus & observation.My advice is,you have to know what works for you,through your own experience in the market,and in whatever time frame suits you best.Good luck.....
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fortyfour
189 posts
msg #85541
- Ignore fortyfour |
1/4/2010 10:35:02 PM
IMHO Swing1 is much faster pace and still requires glue to the screen. Lots
of daily opportunities.
Swing2: Miss it and your out of luck.... wait.........paint drying........barbecues...
ballgames.....ONE FING MONITOR!
Swing1: rsi(2) < 1 .......close between 1 and 5.....any old horse will do...
Swing2: Symlist(TNA,UCO....and 25 - 50 or so others).......williams %r(10) < -90
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karennma
8,057 posts
msg #85627
- Ignore karennma |
1/6/2010 10:29:25 AM
POT = in 1 week, a hefty $10 from my buy price. ($108.70)
Another testimony for swing trading!
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duke56468
683 posts
msg #85668
- Ignore duke56468 |
1/6/2010 6:05:07 PM
karennma
- Ignore karennma 1/4/2010 4:54:48 PM
Mesayah:
That's why I DON'T daytrade anymore.
If you read my posts, you'll see, I now stay in trades 3 days or longer before I get out.
I also DON'T trade everyday.
Some days I just "watch".
Daytrading burned me out too.
I won't do it again.
Besides, I make more money swing-trading.
*** STEC *** IS A GOOD EXAMPLE OF WHY .. **NOT** TO DAYTRADE ***
I don't "cut losses" anymore either. Don't have to.
I just "swing" .. or sit it out, until I B/E or make a gain. And as long as it's NOT an ETF, I'm okay.
LOL!
I've bee holding BCRX for a month.
I will sell .. either when I B/E or can TAKE PROFITS.
Period!
Karennma,
Are you saying that you don't use stops and are prepared to sit and wait it out for the stock to recover
no matter how long it takes? Just wondering, because some stocks never do recover. Am I misinterpreting what you said?
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fortyfour
189 posts
msg #85670
- Ignore fortyfour |
1/6/2010 6:46:52 PM
Karenma,
Thats my kind of play...... I am green and red with envy and jealousy respectively...
Nice one.....
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karennma
8,057 posts
msg #85673
- Ignore karennma
modified |
1/6/2010 8:21:38 PM
duke56468
- duke56468 1/6/2010 6:05:07 PM
Karennma,
Are you saying that you don't use stops and are prepared to sit and wait it out for the stock to recover
no matter how long it takes? Just wondering, because some stocks never do recover. Am I misinterpreting what you said?
==========================================================================================
Duke,
No, you are not misinterpreting what I said.
Much of what I buy & sell I post here.
I DON'T use stops because I'm watching my positions all day.
And ... I don't expect to take a loss on anything I buy. (how's that for hubris!?)
:>)
**Since I STOPPED trading ETFs**, my charts haven't failed me.
Edit:
My answer was too long.
I took profits in POT and STEC too early.
I'm still holding BCRX and 3 mining stocks.
They WILL all recover. In fact, I'm in profits in BCRX, and I've been holding it a month.
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karennma
8,057 posts
msg #85676
- Ignore karennma
modified |
1/6/2010 8:52:34 PM
Actually, my charts have failed me ... most recently twice ...
I got two false "tops" .. one on STEC and one on TIE ...
both of these stocks CONTINUED to go up, after I got my sell signal.
:>(
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karennma
8,057 posts
msg #85717
- Ignore karennma |
1/7/2010 11:22:30 AM
Does ANYONE here have a "fool-proof" sell signal?
:>)
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Kevin_in_GA
4,599 posts
msg #85723
- Ignore Kevin_in_GA |
1/7/2010 12:16:47 PM
Karen:
What is your sell signal based upon? Look at what you are doing now and ask why it did not work in those specific instances - maybe you are doing things right and those trades just didn't behave as they could have.
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karennma
8,057 posts
msg #85811
- Ignore karennma |
1/8/2010 11:18:25 AM
duke56468 :
DON'T do what I'm doing.
Honestly, I am so SICK of holding these +#$#g mining stocks.
I'm dying to DUMP them.
When you're stuck holding 3 stocks that don't move fast, you're capital is tied up, thus you miss other opportunities.
:>(
I am really mad at myself.
I don't know what I was thinking ..... !!
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