Mike,
By the way, welcome back to the thread!
And to you and Ted: Yes, I am looking to go back to my habitual form of trading, which is taking positions in trending stocks for a period of 2-8 weeks, catching the big waves, ignoring the ripples, and generally sleeping better at night.
Recently I have been working with hourly charts, trading in and out on signals given by Stoch. and moving average crosses, but this requires way too much oversight, and exacts far too heavy a price in anxiety. I caught a nice double wave in AMCC 4 weeks ago, riding it up for about 5 points, and then down for 6 more, all in a week! But then I lost most of that in the following week as the stock went into consolidation. The "ulcer factor" is too prominent in such short-term trading.
So I am back to the dailies, and even weeklies, and going with the BIG TREND, not the little ones.
There is big money in the hourly charts, but greed is currently off my list of motivating factors...I'm in this for a better life for wife and daughter...
Good to have you back. Please post your picks as you see them, TC. |
