Avoid The Midday: The most annoying price action these days pops up between 11 a.m. and 2 p.m. EDT. This is the period when computers and hedge funds attack price pivots, trying to break highs and lows to fish out the stops. So get your work done in the first hour and don't come back until everyone has eaten their sandwiches.
Learn To Daytrade: Shorten your time frame and play the quick bursts of buying and selling pressure during the intraday markets. Just make sure to get out as soon as momentum starts to turn and move on to the next opportunity.
Limit Total Positions: Find just one or two promising opportunities in a session and work those trades to their final outcomes. Take off the rest of the day when they close out, rather than flipping the freed-up funds into new positions.
Lower Share Size: Smaller positions can move through greater daily ranges and not shake you out. They dampen volatility levels and let large-scale support and resistance levels work as intended with your trading strategies.
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3 comments:
Hey Stewie..
I have been stalking your site for about 6 mths now and want to say that I am very grateful for your willingness to share the good and bad for us newbies. I am a 9-5er but have a passion/possible skill untapped so I am just soaking as much info as I can to potentially progress into something before I get too old :)
You certainly inspire me with each blog entry.
I see you have been getting more compliments lately and it's good to see.
Thanks again
Bartman
thanks b-man!!
hi stewie. i missed this article on your blog yesterday. what a shame, i bought skf long around 1:30 or so and low and behold i stopped out -450.00.i had nothing but buys on my screen this morn around 10 but could not get any trades through, my online brokers website was down. i just watched sun,dig,agu and jrcc take off and could not get on board. then i forced the skf trade when the online broker was repaired and got screwed.any good suggestions on good online brokers, where you know of few problems.i need to repair my own syke and not force trades. trading is a very disciplined occupation i see. if one does not adhere to it, mistakes are really costly. thanks Bill
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