Come read my trades....

Welcome to my Journal

I'm a daytrader. My strategy is very simple... I watch for stocks that are ready to breakout.

I will be posting all my trades on a daily basis. I hope you'll enjoy my work because I know how difficult it is to find a sincere trader.

Thanks and everyone is welcome to participate.

 

And what do you do when they break out!

 

nysestocks,

I was planning to journal my trades on a daily basis but I had to put my trading on hold.

To answer your question, the breakout has to have big volume for me to enter.

Once i enter and it keeps going in the right direction, I take profits on different levels. I'm a daytrader so i don't hold anything overnight.

 

What constitutes big volume?

 

nysestocks,

In technical terms, they are the big institutions like Goldman Sacks who buys a lot of shares and brings the stock up temporarily. Don't worry about it cause i could care less who buys or sells.

All I look for is a big volume bar while breaking out and that's when I buy. There are a lot of factors before buying like breakout setup, market action etc. Take that into consideration.

Hope that helps,

 

Sir a couple of questions if you’ll permit me


1.) Do you seriously think big institutions purposefully show their intentions (hands) by making a big volume bars

2.) Show me a big volume bar and I’ll change your charts time frame and show you a few little ones

3.) I just wonder what a herd’s emotion looks like when reflected by a volume bar - Yes Sir I wonder


Food for thought Sir

 

Redneck trader,

Here are the answers:


1.) Do you seriously think big institutions purposefully show their intentions (hands) by making a big volume bars.

NO, You are absolutely right. In fact, they are even more manipulative than you think where they don't want you to know that they are buying so they buy little by little.

2.) Show me a big volume bar and I’ll change your charts time frame and show you a few little ones

I'm a purely technical trader so a big volume bar usually means a lot of people are interested in the stock including big institutions. That doesn't mean they wont sell it back the next minute which is when breakouts fail.

3.) I just wonder what a herd’s emotion looks like when reflected by a big volume bar - Yes Sir I wonder

Simple.... the herd's emotions are full of excitement. They are all jumping in the boat thinking they will make a lot of money.

 

My apologies Sir

You appear savvier than I initially thought

I look forward to following along Sir

Take Care
Redneck

 

Redneck,

I will not be posting any trades for a while but if you have any questions regarding trading, I'm more than willing to help you.

Trading is the most difficult business in the world and there's no way around it except hard work.

good luck,

 

Thank You - but no - I'm fine

Trading is the easiet business there is - to me

Ultimately each person must decide how how hard trading will be to them


btw - I do not believe in luck


Take Care Sir