Its interesting how you are a purely price action trader that is clearly making it work. Makes me also think of Dustin, who I'm sure you remember, who was doing exactly this same thing, but with 0 DTE options. Its really nice to see you showing this type of trading at a time when everyone is convinced that you need a PhD in math and an algo running across the street from the CME just to make a dollar.
Its definately getting harder to trade and read price actions with all the algos, they love punching stocks just through prior support or resistance during the day just to get the stops and then turning it around, you will notice 99% of my day trades are now either pre market or in the first hour of the day i literally wake up at 3.a.m. to start the open of the premarket because its more humans at that time, bigger moves, and no volatility halts, after 10:30 I basically do nothing unless I see something I really like, or its a swing or long term trade. Once the algos takeover on a stock it becomes a lot harder to read. For my long term buys in looking through their financials and then looking for a spot where I would wasnt to trade it, with these oil stocks since its a specific sector, when im doing a sector like that I will just find a bunch of names I like and put out a feeler bid on them, I will bail on the ones that arent acting properly and try to narrow it down to like 3 or 4 that I size into once I like the story and the chart. But I definately do a lot of technical analysis, like the reason I am so bearish on the QQQ right now is because the MAG 7 makes up 30% of it now and all of them look toppy to me on top of ridiculous P/E multiples. Only three technical indicators I use are VWAP intraday and then the 50 day and 200 day sma for the daily, then support and resistance. And trend lines from time to time.
Markets pretty quiet this morning nothing but old names hitting my scanner might be taking a breather after the last 3 days of craziness.
Boring morning, markets taking a breather from yesterday, one trade PMAX, lol traded 30k shares and lost 100bucks. What I was looking it is that it had been consolidating since yesterday and just drifting higher, had already done more volume premarket than all day yesterday, it is a garbage stock but its a low floater figured there were alot of shorts in it tangled up, and if it got up over 3 could be a squeeze. Was sizing in around 2.63, then 2.80 kept holding with a reserve so I sold there, tried rebuying just a few cause bottom kept holding then dumped the rest when 2.70 broke. Should have just left it alone but I was looking for anything to trade lol. Im currently opening another account with centerpoint because IB's short list sucks, you will never find shares of the good shorts, or any stock that goes parabolic with IB.
WHLR ended up being the one today wasnt paying attention to it when it finally went because i thought that move from 6:45 to 7:00 meant it was done, and i can never short these with IB so just took it off my screen, would have been a tough one to catch but those big power green bars off the lows are usually good buys if your paying attention to the stock right when it happens.
Holy smokes someone is absolutely fire selling AAPL Didnt even see this until its too far gone, but that is just straight dumping. Not even a single uptick on the 2 min chart.
Well a bit didnt take anything else today bit of a piss off on the QQQ, or NQ wanted to see it test 520 off the open on the QQQ and fail there so i literally missed getting short the NQ by about 50 points. Had an order keyed up ready to hit it later in the day at 515 cause I was pissed I missed it but thankfully convinced myself not to chase it since I probably would have averaged into the bounce way to hard and gotten stopped out, it always goes just a little further than you think in this market, have been hit to many times doing that on the index in this market. Had an order out to short FNMA at 6.59 off the open missed it by ten ticks, then when i noticed it probably could have chased it and hit it short when it was breaking through 6, but i hate how slow orders can be to fill on that piece of crap sometimes so i didnt want to be stuck in a position at 6 where it turns and then the specialist just refuses to fill you and rolls back up 10 ticks on you. Would have been a home run oh well.
NXT swing from a couple days ago noteable strength against QQQ selling again today want to see it hold up over 45 now and will add some more