Another day of generate gambling.. i mean day trading. Up around $1000, then gave it back, up about $1000 again, then gave it back again, finally was up $2000.. stopped for the day. That last up $2000 was another hail marry pass/ revenge trade at double normal size that luckily worked out. Went Long about 2 hours before the close and got out of those longs when the markets approached resistance. Im still a blowup waiting to happen, should stick to automated trading. Not suited for this discretionary style at all.
SRTY looking good, picked up some during the gap after selling all my 3x ETFs because it feels forced. Maybe it's me?
Right re forced, things are uncertain with current index charts. I went mostly cash to exit with profits today..... closing this winning chapter. I'm still very bearish so will buy light size (6-10k) of inverses aftermarket tonight. SRTY/TZA/TWM best Russell inverses. SQQQ/TECS/SARK for nas, SDOW LABD FAZ etc all good inverses... should be interesting.
Here's one that runs on my box. Cobbled through windows, can be used in a variety of ways, low overhead on the system vs the online alarm gizmos?
Over trading hurts all traders, dont do it. If I make one very good trade, I walk away for the day. Its hard enough to make one good trade, never mind two.
I usually make my money some time between 9:30 and 11. Sometimes from 2:30 to 4. 5 minute charts for daytrades.
Our latest blog touches on this subject! Hope it helps: Cannon Futures Blog - Overtrading the Afternoon