So you are trading mometum stocks at a prop firm.

Hey

Anybody else day trading momentum stocks? I search for good candidates on my esignal scanner usually from the open, 1st hour breakout, midday breakout. I look to cut my losers short and run my winners. So far it is working out ok.

The prop firm I joined does not offer any training or link up with other traders (I am trading remotely in London) so I was wondering if anybody else was doing a similar thing and wanted to hook up.

Thanks

Londonkid.

 

A nice, basic strategy. Works well at times, gotta be really, really, selective in the long run. Are you Series 7?

Don

 

Translation......

Fooled by randomness....i.e. luck

 

Hi Don

Nope don't have series 7.

I do ok as long as I cut my losers tight. still cant work out what is better to enter on pullbacks or breaks. hmmm

 

I trade mo' mentum b/c it gives me mo' money.

Beats other strategies.

 

hey kid, why not both like a Blowpop lollipop?

I enter on pullbacks AND breakouts.

I used to only enter on pullbacks when I only had one ball. Now that I have two balls, I enter on pullbacks and breakouts.

 

Hey Steve

so far I have been looking at the character of the trend. If there has been shallow pullbacks then I tend to trade on a pullback, if no pullbacks then go with the breakout. seems to work ok but always interested in sharing notes.

not sure what you mean by blowpop and lollipop, must be some NYC lingo I dont understand

 

Blowpops are lollilops that I used to consume as a kid in the US. Not sure if they sell them anymore. Last time I had one was back in 1990. Provide a quick source of sugar.

The commercial for it went something like this:

Mom: What will it be kids? Lollipop or bubble gum?

Son and daughter: BOTH!!!!

Mom (with a huge grin) then gives each of her kids a Blowpop.

Blowpop: Lollipop with a bubble gum in the center.

It's probably toxic like most US foods.

Buying/selling on pullbacks seems safe but it's no safer than buying/selling on breakouts.

Buying/selling on breakouts seems risky but it's no riskier than buying on pullbacks/selling.

Learned this after 20,000 hours of screen time. Lol.

I trade both ways but I prefer breakouts over pullbacks.

 

thanks for the insight Steve buddy.

had some cracking trades today, HPQ was a peach.

 

My former boyfriend, Jacob, told me that trading pullbacks is best.

My new French boyfriend, Jean-Pierre, prefers breakouts.

I suppose it does not really matter as long as you cut those loosers short and go for a healthy reward to risk ratio,