These post are actually good. They remind me of Friday (after the close) happy hour with our traders...its healthy. I will say, the ET offers a great venue to serve up charts, outlooks, and performance if one wants to. I am a student of this business and always will be. My dad started me out young, and I thank him for it because trading is simply a sexy way to make money. Most people would love to do what we do. We are lucky to be traders...I think! So what's my point? I'd like to hear from others what they see in the short term markets. I like to trade trends as well as active daytrading. I post my results for criticism frankly. If someone has advise for me, I going to listen. A multiple perspective is healthy. In the end, I'm going to trade the way I want and every trader should, but I usually learn something when I talk to other traders...even if I "fade their market" in terms of advise. I'll start! lol...I am done for the day. I traded light with quick scalps and wanted to stay away from the exuberance in the semi's, so I shut off the box and booked a modest day. I'd enjoy similar interaction of other active traders. On the comment about Don bright, let me say after founding and running my own firm for 5 years (Maket Wise Securities, Inc.)before I merged with TerraNova, running a firm and a school ain't easy! I agree great money can be made by "selling the picks and shovels (commissions) to the miners (traders)", but if your going to be a good business man or a good trader, the same attributes apply. I respect others who do it well, and it seems to me Don has done a very good job since in order to find business success in this industry, not only do you need to be a good trader, you also need to learn how to transfer the knowledge to your customers who truly need it. The statistics prove it...most will fail in 6 months w/o leadership, and in this business it requires "leadership by example". For what its worth.
lemme see .... hmmmmmm .... where should I start .... short term trend ... okay. I took 5 short position todays close to the end of the trading day off the Oz Scanner Sky Scraper setups. I wanted to hedge my positions with a couple of Power Traders, New Kid or Bottom Fishers, but I didn't like any of the charts. Consequently, I am both gross and net short. As to criticism ... here I come ... It's gonna be ugly ... My advice to you and anyone on this board: If it ain't broken, don't fix it To each his own trading style time frame etc. When David was trading this morning I was golfing (what a beautiful day here), when I traded, David was done for the day. My first trade was placed at 15:30:48. All positions are open overnight other than covering RGEN for $70.00 profit then shorting it again. I hope you find this multiple perspective healthy Looking forward to seeing you in NY. Tony PS: easyrider, I don't make money every day. I still lose more than I'd like to lose. In fact, although my open positions show minimal gain, I can still lose on them overall. My above post is for educational purpose only. Cheers.
Easyrider, Do you have a motorcycle? Its the same thing as trading. There are rules you follow during the set-up period. This is where you design the trade in terms of risk/reward. Like a nice road trip on the bike, you follow the rules its great, but a breakdown of them is unforgiving...so crucify those losses. Set the stops, and statistically you'll be right more than wrong if you gain a good technical base. The stops take care of the rest my friend
Tony, What did you shoot. I'm in Phoenix at Troon march 6, 7, and 8. Want to go. We have 5, need one more with a hot wand and a good liver! Golf by day, poker at night. I know you have the liver...Looking forward to seeing you in NY as well!
Care to expound a bit on your rules for stops? I see you did the same type of trade here. 1k short, 1k short then double up w/ 2k more at a higher price for a 4k total. When I asked about this style in another post you mentioned trading within a range. How are your stops set for this style? Thanks, Mike
Thunderbolt, I've been looking for someone with M-T. Have you been able to play M-T for consistent $$$$? How well are you doing with them? Lately they seem to be racking up over 10+ points each, each day for past few weeks. You would think you could nail at least a third of that, don't you?Give us the scoop on them. How do you play them?