Don't agree with trading being "simple" in "Trading for a living: The Biggest Lie of All," posted a couple of days ago.
I get a trigger,
-find the stock on my list,
-try to determine what type of trigger it was by:
-looking at daily and 2/5/15 bar charts for a setup:
-breakout, 3/5 bar bounce, others,
-find the 20/200/50 MAs on the charts,
-look for MA support/resistance then
-diagonal and horizontal trendlines S/R,
-check tick, trin, naz, sp, index of its group, then
-the futures,
-check level II for depth at bid if going long...,
-look for prints in my direction on time & sales,
-am I at a reversal time of day,
-is my internet connection reliable and OLB responding,
-find a target for exit and stop,
but the futures turn on a dime espeically lately, if I wait for the futures, the stock ran away or reversed, too late, find another and the chase continues until it all comes together. Or like today, I skip some of this or the market is whipsawing all over the place, and get seriously burned. So with all of this, I'll be trading maybe once a day if I'm lucky. I'd be interested in hearing other people's process. Is this what others really do? Some people trade many stocks simultaneously - how? |
