People are telling you what they do. I'll tell you what not to do. 1. Never take a laxative just before the market opens. 2. Never take Viagra just before the market opens. 3. Never take Viagra and a laxative together. You won't know if you're coming or going.
See thats where im confused. I was doing that myself and then started watching videos on youtube and they all said to look at other time frames to get a better understnading. Do you trade patterns and trends? Or do you mostly just look at candlestick markings? And how reliable are they because ive tried that apporach and so far nothing.
LOL same here!! Whew im glad im not the only one. I thought that i had the worst luck in the world AND THAT THIS WAS A SIGN FROM GOD TELLING ME THE QUIT. the pic down below was one example of todays trade that i missed out on.
Im just curious just by looking at this chart would you have gotten in at the top or not. I was about but then i saw how small the candlestick at the top was and thought this was def losing momentum.
THis something i dont understnad how can there be a premarket trend if the markets are closed? My broker doesnt show any of that, instead it takes off right where it left to the other day
Cashclay, The questions you're asking so far implies you should not be trading right now. Also, you're now starting to ask more specific trade method questions without revealing anything about what you're trading, your trading instruments, your trade strategy, your trading plan and so on. Do not trade until you have a trading plan that includes having a morning routine to prepare you for trading, backtested trade strategy(s), proper capitalization, money management (risk management) rules, proper trade environment and so on.
people sit there and think they're gonna make it on a bagel or something, it just doesn't work that way
That's a nice gap and go setup. I probably wouldn't have gotten in at all because there wasn't a certain movement I look for prior to the run, but treating the break of the initial bar (little red bar) high as a pure breakout long entry is a worthy entry idea.
Here is my quick routine. 1. Coffee machine on and primed. 2. Check news schedule for session. 3. Check yday's trades cleared ok and account all good. 4. Run through position sizing and game plan if I lose/win first few trades. 5. Monthly/Weekly/Daily levels - draw all the obvious ones into a chart. 6. Note 5 day ADR 7. Check overnight news/volatility 8. Oatmeal 9. Run through various what if scenarios 10. Trade 11. Close platform forget about it - win/lose/draw.
I make a chart for a trading day (before the bell), but for stocks I prefer 3 day chart. This gives me confidence what to expect and what to do and when to trade. Here are examples (of course you need to pick up stocks with the best and the clearest pattern, DO NOT TRADE TRASH as a day trader, respect yourself: My monthly scenarios at work are also present at this forum. oil http://www.elitetrader.com/et/index.php?threads/a-on-crude-oil-clq15-7-2-2015-8-7-2015.292666/ heavy index stocks http://www.elitetrader.com/et/index...their-platform-in-less-than-one-month.291091/