FNSR -- was strong at the open.. Traded heavy vol. Could have entered midday and still gotten a point.
Strong, story name, volume, strength
IPI - traded 2x normal vol. Created classic 3 bump pattern over multi-day -- 3rd bump was low of day for .80 move. Big vol. bar hit on low of day - 5 min candle.
Key is to go with trend.
Don't be afraid to buy in.
Set stop tightly -- will not get hit if you buy right.
Thursday, March 31, 2011
Saturday, March 26, 2011
recent trade notes:
GCI -- .30
SVNT: .70
AEO: .60
TSL: 1.00
SANM: .50
TZA: too soon. waiting for 3 bumps
SCO: too soon - needed 3 bumps. stop too tight
F: did not enter
MSFT: .50
goal: hold positions longer/overnight
establish 3 bump entries -- when in doubt, unclear, do not enter.
accept losses.
patience on winners is a big drag.
SVNT: .70
AEO: .60
TSL: 1.00
SANM: .50
TZA: too soon. waiting for 3 bumps
SCO: too soon - needed 3 bumps. stop too tight
F: did not enter
MSFT: .50
goal: hold positions longer/overnight
establish 3 bump entries -- when in doubt, unclear, do not enter.
accept losses.
patience on winners is a big drag.
Thursday, March 10, 2011
Listen
The market is always giving you information. Just not necessarily in a language you're familiar with. Your job is to listen carefully.
Do it long enough, and you'll start to hear what the market is saying in bits and pieces.
Do it long enough, and you'll start to hear what the market is saying in bits and pieces.
Wednesday, March 2, 2011
Time of Day
Once again - market began its downtrend at PRECISELY 11 AM - then it was an easy - hold all day short.
Need to relax when trade goes my way...
goal: stay in the trade with raised stop along the way... patience with winners. Do not be afraid. Keep position size small. Gain confidence.
Take it one day at a time.
Listen to the market. Search for relative strength.
Need to relax when trade goes my way...
goal: stay in the trade with raised stop along the way... patience with winners. Do not be afraid. Keep position size small. Gain confidence.
Take it one day at a time.
Listen to the market. Search for relative strength.
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