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Sorry I didn't respond sooner. Been trading, no time for reading :-)
I've had the opposite. My best trades have been momentum plays around late morning, where I spot a stock trending and jump on board.
As for my Hit&Run trades, I just bought the software to run on TradeStation, a lot cheaper than subscribing to Jeff's hotline. Yesterday won on a few of his setups. Today...let's not discuss today. My shorts went up, my longs went down, the market destroyed my buy-and-hold portfolio. Had the choice of going to bed and crying or checking this thread.
Anyone daytrading shorts successfully? I've had a few wins, but find my fills take too long and come in at a disappointing price. Hard to trade under that situation. Today, Jeff's signal to go short on AMR came up at 67 1/2. I had a stop-sellshort in place. First uptick on NYSE (there were other upticks, but on regional exchanges so they didn't affect my order) was at 66 13/16. By then the stock was already down a couple points and had a technical rebound and I got stopped out. Then, of course, it continued south and I missed a healthy profit. If I'd been filled at or near my stop-short order, I wouldn't have been stopped out of the trade and would be a happy man at the moment.
Suggestions on how to handle this? Jeff's suggestion is to use very large stop losses, but I can't afford to risk losing a couple thousand or more on a trade. (In fairness, if I'd have used his recommended stop I would have stayed in the trade, but I've saved a lot of money using tighter stops to get out of trades that go bad).
Thanks team.
Deep |
