<<I have a question, exactly how many times have you been wrong?>>
Oh that is easy. I have been wrong exactly 49.87653 % of the time . The first key to day trading is to first put the ods in your favor, i.e. trade with the trend and short at resistance levels on downtrends and buy at support levels on uptrends. The second key of day trading is when you are wrong cut your losses short quickly. This keeps you making money even when you can only get it right half the time, because you'll have gains twice as big as your losses when you do get it right. Its mostly money management, with some skill (playing the probabilities, and some luck.
With regards to the volume, volume has to be compared to some benchmark to classify it as either high or low. For example if COMS average daily volume on NASDAQ is 7M and they traded 10M, that's higher than normal volume. But as you say, NASDAQ counts volume between MMs, so its "real" volume was 5M and its average "real" volume is 3.5M, so the volume is still high.
Also seems to me if you don't like technical analysis because you don't believe in it and you also don't have any "feel" into fundamentals like sales and earnings (I don't have this ability either by the way, so I only use T/A), why are you invested in COMS or any stocks for that matter? Shouldn't you be fully invested in a savings account?
It wasn't me who said anything about institutional money, except to say that they do buy and hold. I made some comments about professional traders. |
