jack hershey
Registered: Feb 2003
Posts: 7369 |
06-15-12 08:09 PM
You are pretty much stuck in a bad place by your beliefs. (Who knows how you got them).
For position trading stocks, the beginning of a trade is NOT at the end of a day.
Similarly the end of a trade is NOT at the end of the day.
As you can see, brokers do NOT accomodate making money position trading stocks.
When I began trading, I position traded and just made one phone call (preplanned) a day for the first five years. About the beginning of the third year my weekly salary was less than my weekly commissions and fees.
Recently, the PC was invented as was the copier. Because of this, you could probably take a smoke break and get decision making info that is equivalent to the phone call I made.
Another advantage is that you can have the computer do the trading work for you automatically since it can be connected directly to your account.
To repeat, you do NOT understand how markets work and you do NOT understand how to time markets.
All you need is a volume look up table that is normalized to the 65 day average volume.
The look up table can be a fine (sensitive to) a 30 minute chart.
There are three trading volumes which lead price: DU, FRV and peaking volume.
You wait during DU, You enter within 1 1/2 hours of FRV and you exit when volume cannot keep up with peaking volume.
The normalized volume chart is posted as "Unusual Volume"; this is what trading volume is to CW type traders.
The efficacy of the chart was tested. The sample was 400,000 stock cycles. No changes were made to the chart.
The trading of stocks works best with a 3 Beta plus universe where the trading cycle is repeat 5times every six months.
The published results (before ET was invented) are 6 to 8 day trades which average 11.1% per trade. 7 serial trades double your capital. This means you double every 42 to 56 days, except that today the cycle has shortened to 4 to 5 days. This means in modern times (Post PC invention), the doubling of capital is 28 to 35 days. 50K becomes over a million in less than a year.
Your current beliefs preclude making money this way. I do not feel you can overcome your belief system. Your could read behavioral Finance and be told how to behave to change your beliefs. I do not think you will read about your fundamental problem and its cure.
I put the rules of this ATR in this post. And I gave you the name of the look up table. This probably makes it impossible for you to do. You are set on foraging around the CW and not finding an alternate solution. The CW has so many and so profound examples of people wandering around until they reach the yipping point where they are then headed for the exit in trading. I would say your trip is well over half way done. In other words, you are a prime example of bad beliefs eliminating any chance of success. Notice how many posters here on preceding you down the path you are taking.
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