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Online Share Trading

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sep13 alsi

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orange68
Super Contributor
nice gap this morning. short from last evening. now long. shall we close?
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121 REPLIES 121
sponono
Super Contributor
stick to your plan
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Rams
Super Contributor
closed yesterday's short yesterday. Short this am. Gap close trade at 36035. first target 35600.
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Rams
Super Contributor
low of day 35623. high of day 35985. a retrace now from 35750, will see low of day taken out to about 35300. trading above high of day and gap close trade is on.15 minute trend change is at 35900. Still short with stop moved to breakeven
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Rams
Super Contributor
so a good retrace from 35750 and 35600 just taken out. Next target around 35300.
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orange68
Super Contributor
made nice money both ways thus far. wondering how long the red issue will last. 11 shares in watchlist not 1 green. @least alsi is having fun
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Rams
Super Contributor
just remember that its no use questioning the moves of the market...the exit strategy is the most important component both for risk and profit in a fast moving market.for sideways markets, controlling risk is important.
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orange68
Super Contributor
old habits i used to alot on weekly trading. just curious do you know where one can find different alsi trading methods? rules etc looking to refine the risk park of my strategy.
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Rams
Super Contributor
if you have not already, read "Trading in the Zone", by Mark Douglas...its all you need.Best to read it when you are far away from trading and on holidays..
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orange68
Super Contributor
i shall get hold of it thank you.
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Rams
Super Contributor
for mechanical sysytems , you have to take every trade, hence draw-downs in sideways markets is inevitable.Beauty about intraday trading is that , you can make it a rule to limit the number of trades, limit the loss per day, limit the time trading(especially the flat market between 12 and 14H00). If its built in your rules, then its still mechanical...I find 4 losing trades a sign that its better to take the rest of the day off...some say 3 losing trades. Now this works well with intraday becos each day presents you with a new set of opportunities and if you have less losing days, then you dont have to chase losses.So in a week, if you have 2 losing days, 2 winning days and one flat day, you would still be profitable...you cannot win every trade and you cannot win every trade...but YOU CAN LIMIT your losses
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orange68
Super Contributor
that is quite true ive noticed getting in and out is fine ... but when its that "just 1 more candle to see" that is where i fall short. i think some studying/reading is in order.
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Rams
Super Contributor
Big gap on DOW and bad jobs report....
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orange68
Super Contributor
saw that... looks like we red for a while...china had to give 5c worth too
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Rams
Super Contributor
This is the best part of trading...risk free, stop moved to profit and target in site
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orange68
Super Contributor
that dow is climbing in red im happy though so is alsi
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Rams
Super Contributor
Yes , target at 36300 taken out ....always keep one for the close
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orange68
Super Contributor
pretty cool day 1300 pts roughly and still could be more.
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Rams
Super Contributor
Yep, I am out for today
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Preston
Super Contributor
Yip, Thank you,Mr Ben Bernanke. Market pullback allows one to buy good quality, dividend stocks.
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