this market is friggin Dangerous-

Discussion in 'Trading' started by NY_HOOD, Jul 30, 2007.

  1. NY_HOOD


    again.i made some quick scalps near the open and am calling it a day. sure there may be more money out there but the easy money was made and trying to squeeze out another 100-200 bucks will only result in me giving back my gains. anyone else pack it in early these days? this market is dangerous right now and could drop 100 points at the turn of a dime.
  2. ssblack


    You can't be serious!
  3. piezoe


    Good call Hood. Wise trading! Perhaps this pm opportunity will knock. Right now -- nothing.
  4. Dustin


    Isn't that what traders want?
  5. xiaodre


  6. gnome


    No it's not. Well, maybe... if you trade like a frickin' DOOFUS!!
  7. NY_HOOD


    of course a trader wants volitility but not this kind. there is no discernable trend and whip saws can kill you long or short. at least near the open we can pick something with momo and ride it for a nice scalp.intraday is so damn tough because the market just dips out of the blue or rises out of the blue. you will wind up eating commission costs even if you are green at the end of the day.
  8. neke


    That's correct. Scalping for 1 or 2 cents while being exposed to the potential of a $1 gap against you is not clever.
  9. gnome


    "Scalping for 1 or 2 cents"... how insane is THAT?
  10. neke


    Read the complete sentence: ..while being exposed to the potential of a $1 gap against you.
    #10     Jul 30, 2007