| allenbary |
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Gold User, Member, Platinum User, TeleChart
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| Registered User |
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| Unsure |
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| Wednesday, October 26, 2005 |
| Friday, November 2, 2012 9:04:18 PM |
238
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Funny you mentioned that kness1. in my forex trading i quit using red for that very reason. I found it causes me to hesitate. I did not know there was a study on it .
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Hi jimstacy, Well what I use to do in hours haphazardly, I now do in minutes and accurate. My trading day starts at 9am, by 9:30 im ready and I have good idea if the markets are ripe for long or short entrys. I dont look for individual stocks till 9:45 when I run my scans. The scans run and update all day till close. If there are no hits I'll try to catch a daytrade so I get some profit everyday. When he markets close I review my trades BUT I do not look at the markets or for new trades till the next morning. AB
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Does anyone other than me have or use a trading plan as in an organizational plan on there daily activity?I find it is a big help sinse in trading from home I have no boss to make sure I am covering all the bases. And it gives me more free time to spend with the family.
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I'd have to agree with funnymony on this one.
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Its no wonder 90 + percent of new trader wash out!!!!
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Ok back to the question in this thread Rick17 asked. Rick are you sure swing trading (as in 1 to 5 days from buy to sell) fits you . Or do you want to swing trade on a intraday time frame? How much time can you devote to your trading? You have to know how much time and capitol you have for trading and your risk tolerance and how psycho you are then learn a methodology and style that will define you. AB
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BTW everything you need to learn can be found for free on the net, My best advice find a friend that is a good trader already and watch and study them.
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Most traders learn what Martha Stokes teaches in one form or another, sexy indicator stuff. Most traders wash out!!!!! Hummm I know this is harsh but cut the sexy stuff. Understand how and why the market moves, I know its boring.. A Price and Volume chart is all you need. I am not picking on Martha but face it her first job is to sell her product. Not teach, teaching is incidental.
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are you buy and hold, position trading, swing trading, or daytrading this stock? it makes a difference! if you are bullish on the market it might be a good pick for a longer term hold with the H&S and pennent. But as a shorter term swing trade it fails as it is in a stage 3 consolidation pattern and not a stage 2 uptrend on the daily chart. IMO anyway. AB
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Trade the chart not the news
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