You see the chart pattern or play but the action before does count. Take a stock that trades down off the open then consolidates forming a nice support line. This line breaks so the chart says sell it short. Seems like a high probability trade right? But what if its 12:30 pm? Do you think the fact that its lunch … Read More
And the Probability Is….?
Intraday trading is not about predictions or fulfilling your need to be right. It’s simply about finding spots to trade that offer high probability risk to reward. Most aspiring traders take this thought and run to the charts. They will search and study until they find a pattern or play that seems to repeat with a predictable outcome. They will … Read More
Find an ATM and Use It!!
Do you have a stock that due to both technical and fundamental reasons has traded in pretty much one direction for weeks or months? I do…for the last few months it’s RIMM. I have RIMM on my screen everyday and I know exactly how it feels, moves and reacts. I play it virtually every day and use it like my … Read More
Discipline, Focus and Patience
The above three words have been written about many times by Bella and Steve and you have read about them in countless other places. Becoming consistently profitable in day trading requires the knowledge and use of all three! I would like to give a simple thought from my trading yesterday intertwining the three principles… At one point yesterday if you … Read More
How I Will Trade Earnings Season (a response)
I received this email which frankly was so much better than my post today that I had to share… Thanks for the blog post today on “How I Will Trade This Earnings Season”. It provides focus for thought and more efficient preparation. As a tool to get better as a trader, I developed a spreadsheet to collect and categorize data/results … Read More
7/11/11 Market Overview and Swing Setups
@AdamG_SMB discusses setups in $SPY $ES_F $SI_F $CL_F $DX_F $AG $EXK $ITW $MMM $SODA $VMC $BGS $LO $HAL $MS $BIIB $JAZZ $KCI $AAP $BKS $DDS $FL $SBUX $TZOO $VZ $IBM $QCOM $VHC $CSX $FDX $NSC
Want to Make it as a Trader?
Guest Post from Fred Barnes This musing on intraday trading may come off as a bit harsh and simplistic, but I think subconsciously maybe that is what I intended when I decided to pen this piece (initially as an email to a few traders friends). Here’s the premise for this piece: trading is “blue collar” work. If you want to succeed … Read More
6/26/11 Market Overview and Flag Trading Lesson
@AdamG_SMB discusses trading pullback patterns and looks at setups in $GS $ANN $FNSR $BIIB $ZAGG $SCCO $RS $BA $TXT $IR $SFLY $LO $HOC $AFL $GS $ABT $MCO $WTW $JNPR $PLCM $VHC $NVDA $YGE $N $TTWO $SPY $CL_F $SI_F