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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (8843)	6/11/2000 4:26:00 PM
From: exdaytrader76	Respond to of 18137

Re: downhill after 11:30, my 2 cents is this: the man who taught me most of what I do know, and is our firm's instructor (not me, that was a misunderstanding) is adamant about "Don't Trade at Lunch." Volume and volatility are generally lower and profitable trades are generally more scarce. Unless the market is taking out its highs/lows or there is a news event or volume surge in a particular stock, I will not enter a trade between 11:30-2. This takes discipline to fight the boredom, but I feel it is necessary. There are traders out there, some on this thread I'm sure, who can trade like fiends all day and make money all day, but for me, and most people who have not yet reached that level, it pays to sit on your hands at lunch. Just watch, read (SI!), review rules, whatever, while keeping an eye out for the rare trading opportunity. At the very least, I would consider reviewing all of your trades' profitability organized by hour of the day. I would venture to guess that lunchtime is particularly unprofitable. Also, just me here, but one of the worst things I could ever do would be to turn a winning day into a losing day. It is critical to me psychologically to go home profitable whenever possible. My goal is to survive; the longer I survive, the greater the chance that I will eventually make it big.