Today was a planned sit out day. I really hate when the Fed speaks and with the press covering it so closely I knew it was going to be volatile. Saying that I am a huge MSFT fan and I saw it popping early but decided to not trade it today. I have come to the realization that even though I am a trader I don't need to trade every day. I even went golfing today and had a great time especially when I saw the 2PM drop. I'm am not trying to toot my horn, I'm just saying sometime you just need to sit one out. I see the futures are down for Thursday so I'm thinking there may be an opportunity late tomorrow. Best, Dave
Good day, 45 minutes at the open, then 60 minutes after the fed. 12 points on ES. 5-1-3 (W-L-Scratch) It was an easy peas'y Japanesee day. Very efficient and optimized. Also weed wacked the yard in between, so ready for BBQ this weekend.
I did NOT trade today either, and I have been a full-time trader since 1998. If MASTER @tiddlywinks kicked ass today, he should easily triple his performance on Thursday. I will, because Thursday is the day PS. We are good, and clear for a solid 3 months. Probably, no one will care for the next FED meeting. Good times ahead. Off to bed...
For me, long term trading is the best method. First, I do prior research on stocks and their performance. Secondly, speculate the market's future growth and look out for any important economic events. Thirdly, invest and wait for the trade to mature in value over time. Finally, exit the market at the right time.
With just a single handful of contracts, it would almost be harder not to achieve that result, with NQ having a RTH 259.50 point linear range at 11am PST. Carry on!
Nah, this was around 2010. It was ALL stocks, and leveraged (I believe 3 to 1). The value of his portfolio exceeded $1 Billion. So the change that I saw in his P&L was something completely normal to him...
I was not born with your trading gift. One day, through hard work, and perseverance, I will perhaps get there...