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Posts: 742

Joined: 7/1/2006
Location: Madison, AL 35758

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/1/2010 3:48 PM
Post #5447 - In reply to #5446


Information provided per your request.

Attached is a chat extract from this morning’s trading for about an hour and a half after market open.

Several things to point out are that as you will see, I personally made some errors in assessing which stocks were likely to provide big moves after market open, reading charts (like thinking price action had entered a window, when it had not; being early on the last NFLX turn back down for a final trade for this morning, and etc.), but we constantly update things, and errors do not hurt individual trades very much. We have coined an expression that “we trade what we see”. We normally trade a map that contains the earnings stocks, other stocks that have displayed recent tradable volatility, and stocks that are gapping during the pre-market hours with higher than usual volume.

I personally mostly use price action in the form of candles, and volume to perform my trades. I am in the process of learning indicators, but it is a work in progress. I always have some indicators on my charts to mainly aid in learning them as time permits.

For a trader new to these types of trades, it might be beneficial to focus on only a few stocks at a time, and trade in small share size (even if commissions eat up profits) until comfortable with this quick pace action. It might be of benefit to reduce the earning map to just today’s stocks and do a replay for practice. One nice trade I missed today was AEIS, and there are usually better plays found after the fact on each trading day. I have sometimes joked that “we can not catch all of the fish in the sea”. Some traders have started performing these trades by applying what they already preferred, like only entering plays on the first pull back, and etc.

OK, it would now be appreciated if you shared what you did this morning in the way of trades, approaches, or anything else you might want to add/share. Also please share later day trading information. As you know, these stocks often also provide excellent trades later in the day


Jim B.

Attached file : 101101 Chat Extract For Today.wps (13KB - 446 downloads)

Deleting message 5447 : RE: Using News To Form A Superior Watchlist

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