Finding myself only able to trade the open and the first hour and a half and then the last hour. I've been much more successful lately by never adding to a position and only riding on my first shares. Anything for idea flow seems to help. Anyone using a decent "newsletter"? I've been a subscription to chartpattern.com for quite sometime - Dan Zanger is the man IMO. Great chat room. A buddy just signed me up for a free beta test at SCOTtrends.com and we are sharing the tradalytics login. I spent 5 minutes on their site - right before the open and was tipped off to AMLN. Guess it has already done its job : ) Anyone following anything else? J
This scottrends.com site is pretty neat the more I go through it. No chat room - which I enjoy - but definitely worth checking out...
Please tell me how I can get paid to promote websites here on Elitetrader.com without getting into any sort of difficulty with the owner here. I want some of this action. Seems easier than trading. About how much are you making by doing this? You don't have to be specific, just a ballpark figure. Thanks.
HA! Nice call out. I'm actually not affiliated with either. I was merely trying to see where people are getting idea flow in this horrid tape.
Me too, although I'd qualify that and say that I either: 1-enter a trade within the first 45 minutes or so and let it ride to hit my target or beyond if it's trending strongly - not too many of those lately, lol.. 2- find nothing and wait for the last 2- 2 1/2 hrs and start making an assessment of whether or not there's anything worth Midday is low volume chop, with crappy follow through/reversals, etc. VERY FEW overnight holds lately too.....
You said it there - CRAPPY FOLLOW THROUGH REVERSALS - These have me beating my head on the desk lately - big time today. Stocks aren't easily making it to my targets so i've been closely tending positions and being quick to take profits.
Know what you mean. Say hello to Mr Volatility for me. I've become a believer in the saying (through experience:eek: ) that bulls make money; bears make money; but pigs get slaughtered.
I agree... But I feel as if many traders have to break there own rules in this market. It is not paying us to sell through lows or buy through highs... Not trading during lunch has been key for me. "Are you sure you wish to login off the trading platform" YES!
I disagree with this. Now is the time not to break one's rules, but to refine them when excessive risk has been the downfall - ie, pigs getting slaughtered. And then to stick to them.
oh yeah, i've been not-trading a lot of the time recently. quick trades, in out, and then do nothing. learned long ago if i start forcing things when there's no vol, i'll give back money on bad trades. i don't like doing that.