Looking for some more pullback for a daytrade and maybe a swingtrade too but keeping an open mind no positions yet
A short story about FOMC days. 5 or 6 trading days before FOMC, the 10 portfolio managers at 20 big hedge funds all get a call from risk management: 'Hey Bradford, you're long AAPL and a bunch of semiconductor stocks that are up 100%. We're levered 4:1. We gotta hedge that, bro. FOMC is in 5 days' So they all sell S&P futures to 'hedge'. FOMC statement is out. The risk managers go: cover those hedges, we don't need those, the skies are blue. THE END
noticed the 10 min looked like a coiled spring thought there would be little profit taking at resisntance or even a double top so got out for +5
Hi Chuck, Anything in particular you're looking for in a chart ? (no problem if you don't want to share too much publicly) Be careful with the extra stress that comes with posting real-time entries. Anyway, good luck with this journal. JP
Thanks for your interest James, I appreciate it. In day-trading: I am looking at about 10 things, but the main question I am asking is, Is it like a coiled spring, that is about to explode higher? There are clues in the candles and the speed, and the way the quotes flicker. If yes: go long. On the other side: Is the bottom about to drop out? My swing trading is very loosely based on the Taylor Trading Technique.
Newer traders won't believe this: but there is no holy grail. There are just some strategies/systems that are more or less common knowledge, but it is the way YOU implement them to suit you (your character, your risk tolerance, your stress-resistance, etc..) that will work. Please don't go looking for a holy grail. I spend way too many years looking for it.