DAYTRADING Fundamentals Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING Fundamentals

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Eric P who wrote (3404)	8/29/1999 8:46:00 PM
From: Magnatizer	Read Replies (1) of 18137

Eric/Thread Friday I made an error which I am having some trouble overcoming... Situation: Carried over spoo (sp future) short position from Thursday which had a good entry based on my personal support and resistance lines (just above nearest resistance on Thurs close). Friday morning the market came up to test the resistance and it held so I now have a downward bias on a end of day read. About 10:00 rolls around and I start to see some buying come into the market. My intraday system was showing very oversold readings so I felt the market was going to try to make a run at the resistance on probable short covering as they book profits. I decided to take my 3 points and wait for the pop. 30 seconds later AG beat his drum and the spoos dropped 10 points in 1-2 minutes. Knowing news many times overrides TA I decided this was just something I had to deal with, no biggie. Problem was it seemed to effect my decisions the rest of the day. This is a common problem for me and I was wondering how others get put past trades in the past. I usually just leave and go golfing but I was wanting to get back into the proper short position so bad I struggled the rest of the day with it. Another problem I have is trying to get the "perfect" entry/exit. Nailing long entrys at support and shorts at resistance is just too hard. I find myself letting trades go if I do not hit it correctly. What do the experienced daytraders do on entries? Average in, chase up to a point, let go....? ht david

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next