Yes. It's been said that a rising tide (market rally) lifts "all" boats. It's high probability trading.
Reid, Yes, I agree with you about not liking to hold overnight. However, I have been looking for a play to take advantage of the potential in an overnight. I take my stop losses immediately, and I was running very tight stops much like yourself. I have put together a lot of different offenses for intraday. I dont know IF I am alone. but I am finding myself more and more developing more short term swing plays. Are you guys? PatrickQ
S, I just see there are means to making more cash by putting your money to work for you with overnights, plus IF I am still at this in 20 years I would like to walk into the office, and walk out of the office 20-60 mintues later. I have simply started to think a little more longer term and that is why the short term swing plays appeal to me. PatrickQ
yes, you are right ... if this is within 'your plan' than by all means, stick to it ... it is when you deviate from 'the plan' is where you can get bit.
If I was to swing trade I'd do pairs trading: one long position and one short position and wait for the divergence to occur, with the long position gone long and the short position gone short, then cash in. That's easier said than done because finding the right pair requires extensive research into individual stocks and sectors. Would have to dedicate much time to that.
Sobemark, I only trade stocks and can you explain in detail what you did here. Sorry but I need some spoonfeeding. 10:01:16 Buy to Open 15 +XBAAP at 4.50 on EBS (15 traded @ 4.5000) Executed 10:02:07 Buy to Open 15 +XBAAP at 4.20 on EBS (15 traded @ 4.2000) Executed 10:03:14 Buy to Open 15 +XBAAP at 3.60 on EBS (15 traded @ 3.6000) Executed 10:04:54 Buy to Open 10 +XBAAP at 3.60 on EBS (10 traded @ 3.6000) Executed 10:06:13 Buy to Open 20 +XBAAP at 2.70 on EBS (10 traded @ 2.7000) Executed 10:07:10 Buy to Open 10 +XBAAP at 3.30 on EBS (10 traded @ 3.3000) Executed 10:08:00 Sell to Close 20 +XBAAP at 4.10 on EBS (10 traded @ 4.1000) Executed 10:09:37 Sell to Close 20 +XBAAP at 4.00 on EBS (20 traded @ 4.0000) Executed 10:11:12 Sell to Close 20 +XBAAP at 4.30 on EBS (20 traded @ 4.3000) Executed 10:13:48 Sell to Close 25 +XBAAP at 4.50 on EBS (25 traded @ 4.5000) Executed redemption good for a very profitable morning.