SFMc01
358 posts
msg #63140
- Ignore SFMc01 |
5/30/2008 10:30:47 AM
I daytrade, using statistics as my base. Before placing a trade, I have a specific profit objective. When I reach the goal, I sell because:
(1) I have been burnt B4 and am repeatedly warned that it is dangerous to be greedy, and,
(2) I have no idea of how to tell if the profits will probably keep growing or will tend to reverse.
Are there good any indications that the profits will continue to increase or may be out of steam? What indicators has anyone found to be reliable?
Thanks ... Steve
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chetron
2,817 posts
msg #63144
- Ignore chetron |
5/30/2008 12:39:52 PM
i found this thread interesting. "Solutions to Your Trading Problems"
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nikoschopen
2,824 posts
msg #63145
- Ignore nikoschopen |
5/30/2008 12:44:42 PM
All the best daytraders that I know are minimalists to the core. They use only price and volume, coupled with their knowledge of trendlines and/or support/resistance lines. That's all you need to know IMHO to capture profit time after time. You would be amazed how many times the market reverses at these points, especially when the two converge. Visit my Intraday Trend Watch: S&P 500 thread, if you haven't already, for additional tips.
P.S. It appears that ure not satisfied with only the 5¢ profit margin guaranteed by ure stat system. ;^)
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