I'm a short term, position trader in CA. I typically follow the markets daily. I found this thread about 1.5 weeks ago. It has added new life to my trading. I use several brokers including a direct access one (CyBerCorp).
I've made 23 trades (100 shares per trade of DIGL, BVSN, SAWS, and SNDK) using the BTT-MAX system, or my variation of it, which includes daily, 30, 15, 5, and, the sometimes very dangerous for me, 1 min charts. I use IQC, timely.com, and StockMaster.com:
stockmaster.com
I only have one open position at this time; I'm short DIGL at 92.25. I'm nervous about the opening Monday, suspecting a gap up may occur. An alternative is a few more hours of downward movement before the next move up. (See StockMaster.com for extended hours data sandwiched between two regular days' data.)
My main concern about the BTT-MAX system, similar to what I have used before, is risk management. I'm not inclined to tolerate what I would consider big drawdowns. In my case, that typically means no more than 1.5 points for my position trade plan. Hence, I am sometimes forced into a day trading situation to exit.
Many thanks to you Thomas for starting this thread and being systematic in your development of it.
I also appreciate many posts from others who are helping me clarify my work. Thank you all.
BeckyA |
