Hi Roger..
here's few KISS method's i use to trade for a living...
i have QCHarts real tick...a must..streaming is ok, but not good enough...
on my open workspaces i have the following,,,
a chart of the stock, with volume and ADX..period...no other indicators...inside the chart i have the 20 & 40 & 200 period mvas...thats it...
i would get Steve Nison's candlestick book, and learn this TA..we are all using it now...
to enter any trade it must happen from your DD using the Daily Candle Chart on the stock...once you enter the trade, move back to 5 & 15 minute time frames thruout the day...but you have to know what your looking at on that chart???, before you buy it or sell it short...
next before you enter the trade...set profit and exit strategies...how much do you want to make or lose..
whats your pain tolerance..and what part of your trading capital are you willing to risk in each trade..
keep the trades small..forget 1000++++ share trades...
do 200-500 max...make 1-2-3 points with stops at breakeven...and relax...breathe...
you'll be surprised at how much better you'll trade if your not whippsawed out watching very short time frames like 1-2 minute charts..forget it...
always watch the S&P futures, NAZ futures and tick and trin...more than enough to help make decisions on when to exit or enter...
there's a lot more believe me..but learn 5-10 candle patterns..don't get involved in overly technical it will freeze you up..keep it simple..
and above all...tune out all the noise..Barrons-CNBC-etc etc etc...just learn to trade technically..just the charts only in front of your face...
forget half the things you read here, unless it pertains to your stock, an upgrade or downgrade etc..everything else is nonsensical drivel...we are not investing here...FA is fine, but of little use when daytrading for a living...
remember one enourmous point...the stocks being talked about here by Jenna, Me or other Gemmers, on the Watch List & Earnings Plays list, are head and shoulders above the rest...they have been scanned, and srutinized over and over again and again..why mess with anything else????
it's ridiculous...and of course, too many stocks to track are negative...pick 3-4-5 stocks and track them as they are called...
anyway, best of luck...OJ |
