I figure out where I want to buy/sell, set orders and play poker. not really, but nah I don't watch level II at all, haven't for a long time. I look at the daily chart, look at comparables, look at overall market, sectors doing well, try/keep it simple--...I don't even look at time/sales or very much intraday activity other than the streamer pages which I do spend quite a bit of time checking out intraday quotes/movement of a few hundred tickers....now that I'm doing the pre-ipo reports on every offering even the ones I know I'm not going to play that's taking up a lot of time---it's taking me 1-3 hours each, with about 2 being the average---can imagine how much I'm looking forward to the next 2 weeks with 20ish offerings coming---I'll be putting together a reports on each, about 40 extra hours next 14 days on top of trading. streamer/daily charts pretty much it nowadays. I figure out where I would value something and play it from there---really I think I may be the only one that makes a living trading that doesn't really do much technical charting nor uses moving averages or any indicators at all, ---I rely on the work I do ahead of an offering to locate potetnial mis-pricings and than I just eyeball charts to look for entries/re-entries/sells etc...I do a lot by feel, it's why I tend to get into a rhythm with certain tickers like prai/clms etc.
to be honest I've been trading this niche for so long now day in/day out I've done most of the work in the past learning, now it's just autopilot a lot of times---I know what I like when I see it and I immediately know where I'd like it and I'm pretty good at playing the ranges and re-entries and sells when they get extended etc...I'm pretty much on autopilot anymore to be honest...It's not that it's easy, it's just that I've been devoting so much time/energy to this endeavor for so long now I can do more in less time than I was able 2-3 years ago even---it's why I can take on all the work that this website is going to entail(it's been an extra 10-20+ extra hours a week past 3 months) with the analysis/blogging/posting/trading and still have a few spare hours here/there:)
actually doing the analysis on every offering as I have has kept me very focused/disciplined and has helped me tremendously...glad others have gotten something from it too. |
