Does anybody make money today ( 28 June )? Nasty horizontal trend... In my opinion, it's better to stay out of the market on days like today. What do you guys think? DT-waw
The morning was dead. Not many clean moves. I thought the day was over at 10:00 if it weren't for the MSFT announcement. A agree with you 100%, sometimes its just better not to trade. Most of the traders I know including myself stop trading around 11:00 and do not resume until 2-2:30. You can't really profit off small moves. All you will do is generate commissions. I learned that the most important part of trading is to learn when not to trade.
100% agree with ya, I wasn't even takin one shot yesterday and bitching about the market in our chat room... the whole naz were ralling, yet I could not find anything I like. RBAK suppose to close the gap, yet it didn't do much, and I wouldn't short it either cuz the MM's and the whole market tone was goin up... Cutting lost is hard, letting profit run is HARDER, Knowing when to trade is hard, knowing when NOT TO TRADE is HARDER... Same with today (6/29), one trade, flat, that's it.
I thought it was a good day. Every day stuff moves. You just have to find what moves. I took $8200, so i can't complain.
Praetorian2, You hit the nail on the head right there. One has to be focused on the stocks that are moving. The next question is: how does one do that (LOL)....
Briefing.com: 15:00 ET Nasdaq Technical Difficulties : CNBC reporting that the SelectNet and SOES systems are currently down, making it difficult to execute Nasdaq orders. That's why...
Regarding the 28th, I personally had a good day, but I don't think that means anything. I've had many days when I've struggled and my trading partner had thought the day was a breeze and vice versa. We have very different styles and certain circumstances favor one or both of us.
In all honesty, most of my gains were on 2 trades that day. I did almost 150k shares traded, and most were net-net a push. You just have to look around. Read the news. I don't trade nasdaq, so the snet thing didn't affect me. I took most of my gains on uco on thurs. I caught the bottom and sold most for a point gain.
I took some losses for the last few days 6/28 and today 6/29. It depends on the trader. A lot of traders at my firm didn't do too well today. But there were a few who had great days. It depends on many factors. I trade setups I like. There wasn't many around so I let it go. Live to trade another day. rtharp