Dear Mel.. all time references are Market open ,,, hours.. EST ,,
70% ,, stocks open ,, gap up ,, where MMs get out while amateurs buy as soon as market opens ,, depending on the news,, volume ,, etc by 9:50 EST ,, the direction of the stock becomes clear,, and about this time profit takers get out ,, here you have to use your savvy ,, intelligence,, level II ,, and your judgment ,, to buy on the dips,, or get out with them and re-enter,, etc,,
But then every stock behaves diffrently ,, they have individual personalities ,,like people ,, watch particular stocks that you follow ..likle a trainer in a stable,,or a manager for a boxer,, or if you are a basketball fan ,, you know whether Jordan is feeling slow,, whether he is off sync etc,, does he go full out in first quarter ? Or does he pull surprise moves,,, etc ,, you watch and learn ,,
And if you become proficient in following a particular stock ,, you don't have to run around the SI ,,like a chicken with no head,, and go see what others are buying ,,
Almost 90 % of the stocks that have heavy volume has 1/4 to 1/2 intra day swings,, unless of course there is a major sell off or gap ,, by trading let say 1,000 shares at a time for 25 cents,, you can make 250 a day ,, and if you do it 5 days a week ,, and say ,, you screwed it on two days but made it on 3 days ,, you still make 750 a week ,, thats 3,000 a month ,, you can do this probably with stocks trading over 5 dollars with large volume every day ,, then you select 2 or 3 of them ,,and just watch that like a painter studying nature,, you do it for 3 months or so ,, and you will be on your way ,, once you become consistant ,, you will become confident,,you can live off same stocks rest of your life ,, LOL .. You only risk 5 to 10K ,,, and the bottom side is 10% ,, as long as you don't play silly mo mo plays and get stuck at top as every one sells..
Once a stock has passed 10 - 15 % from open ,, no matter ,, who or how many people breaths heavy ,, just look away ,, and wait for another day ,, do not get greedy ,,and say,, well ,,, so and so says ,,it's going through the roof ,, etc ,, and blindly jump in ,,
Just stay out ,, for another day ,, your time will come ,, |
