Dam how hard can trading be? Heck trading used to be easy if a stock was going up I buy if it go down i cell. I make no mo money this month. I gave up my whole year this month! I guess no christmas gift for the warden
I've found some pretty good trends this week. In fact with one day left, this week ranks as the fourth best of the year for me. Learning to fade momentum has helped a lot.
Been doing the same thing (fading momentum), but I have to agree with the trader here, this week absolutely sucked. Along with the last one. The two worst weeks I've seen so far... The downward momentum seems very freaking stubborn in December given that people seem to be realizing losses for tax reasons etc, pushing the losers lower and lower. Hardly anything ever bounces...
I should have qualified my statement by saying that a good chunk of my gains have come from opening orders, which is the only place I'm doing any real size. There have been some decent moves in the first 15 minutes this week. I think the reason for the persistent downward momentum is that every fund on the street was positioned for the assumed santa claus rally that never happened. There comes a point where they have to blow out that inventory and soon they're tripping over each other on the way to the exits.