FCX smoked me today! I hit my daily shut down by 10 AM on 3 trades!!. Completely broke my rules and didn't wait for proper setups, just got caught chasing like an amatuer. I deserved it! I hope you have better luck wrestling this beast. I looked at CAT and that thing is a monster today aswell. Now im going on sim for the rest of the session . Question, what time frames do you look at to plot price. I use a 5 min chart for entries/ exits and the 1 min to measure momentum of price. I have been thinking about using constant range charts to handle these fast moving stocks and measure momentum, and use the 1 min as a control, do you have any experience with this charting concept? Can anyone else comment? Don't mean to get off topic, if you wish to keep your journal uncluttered please PM me with reply thanks.
it was a very wild morning for me too, I'll post p&l shortly after market close sorry but i don't think i can be of any help regarding the charting concept you mentioned, i don't use charts for entries, sometimes for exits, but the 5 minute intraday chart of the stock i trade i keep on my screen just to see volume, in case i miss big prints from time and sales
went to gym during the lunch time, it kept me away from overtrading but missed some good moves in AFL
10 years of profitable trading is enough to deserve the respect of anyone. Good luck! I don't believe u'll ever fail
thanks for kind words and encouragement, unfortunately most of my success was due to NYSE specialist system the only thing that is left after all these years is knowing what not to do, lets see if its enough to make any money
Care to explain what exactly are you looking for in the T&S, and share some stories or tips on why the specialist system added to your profitability? Thanks in advance.