Struggled at first with my paper-trading... I just wasn't sharp and up to the job. Slow to react on the two big stop losses I took, $210 and $214 respectively. But I was allowing extra room for a stock that moves as much as AIG. Those were my only losses of note... the third loss was $10; essentially a breakeven.
I got rolling as the day progressed; I really tried to focus on those familiar signals. I wasn't staying in trend though; I still find myself over-trading and not playing for the longer trends of the day. I'm trying too hard to "Read the Tape" and play each of the successive moves. This not only is WAY above my skill level but is also poor trading policy in general. Scalping is not what I aspire to. Gotta work on that.
Went 5 for 5 to finish the day, which pulled me "back to black" from the three losses.
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I threw in some of the What's Familiar... the yellow lines on the chart area for dojis, etc. The short thick horiz lines for the trend extremes with thin vertical lines dropping to the volume spike below. Yellow lines in the volume area which correspond to very low-volume candles which precede a decent move. It's so easy to see these things when the day is over. Harder to trade them as they happen. I guess if it were easy, everyone would be doing it.
im like you in that i seem to gravitate to methods to find a bottom or top to a stocks journey intraday, im in a chat where hundreds of alerts are given, all seem late to me , i see four of five white candles and wonder how these guys put money on them, i try to find ways to predict a bottom and then the turn.so far no luck, the funny thing is that im ahead , if the stocks go down that day, they seem to pop the next. im using adx7 pinchs, put two adx7 charts under PRICE chart, up top use the -DI and the +DI, color out the ADX line, below that color out the -DI and +DI, use the ADX line. when the top chart DI lines, either green or red reach down , below 10, and PINCH the ADX black line below which is reaching up and above 60.there's the play, the adx is 7
ReplyDeleteIf you're ahead and you can do it consistently, it's a good method, IMO.
ReplyDeleteI'm not familiar with those indicators... seems complex on the surface of it but if it works for you in all kinds of markets, great for you.