Hello. I disagree with daytrading PFE. It is best to accumulate and position shares in legs. Perhaps trading out several days and then liquidating. It's tight to daytrade but on some days it does have a wider range as per your observation. I would get short on any upward price action unless price can hold above the previous three days. I think $25 is home near term.
No worries. It wasn't personal. Just my frustration. And, what i am frustrated about is this: missing my signal on a beautiful ROK trade. I didn't touch MMM. I want to hear about an options setup on a good volume month when you have the chance. I just moved my home office and am too in the midst of chaos. All will be fine. Thanks for your help.
TXT is getting bid now. The contract news must have trickled into the retail traders universe. It pays to be prepared. Check it out. The bush war machine lives on. EDIT: ASH looks to good to be true. I may initiate a long position today.
Looking at the daily chart with what I believe is your suggested view, I see that you make a great point. Thanks for your analysis Cluseau.
Thanks for being nice but it is hardly analysis. It is my observation compared to other daytrading instruments. I, personally, would swing trade PFE. Please continue in your approach and let me know how effective it is so that i can give it proper merit and consideration. As of now, i'm finding 2 out of 5 days to be favorable for intra-day trades. But, if you should have a solid opening strategy with consistent risk/return then by all means please let me know. I will honor your work without question. Thanks.
I agree with your observation that the swingtrade appears to offer more reliable profit opportunities than the daytrade.
Best trade I've made in a week. Sorry for not calling it live but I thought I would share it here and on my blog for learning purposes should anyone care. http://charts.dacharts.com/2005-07-06/Samfox58.png
Been looking to trade the YM and has been looking good for me for my entries. Does anyone here mind if I post my entries? Looking at 1 or 2 trades a day at the most. Currently in a demo account but want to make only good calls cause I really don't want to get flamed on how bad my call was but just looking for advise on a bad trade if one is made. I am a newbie trader just looking to get started and seeing if I have what it takes. Hope you guys don't mind. Will try and post in a 2-3 min timeframe. Thanks for any remarks you guys post in response to my calls. Have a great day tomorrow. J