Focus on a few high quality set-ups and the money will follow.
There were some great comments on the last "Viewer Mail" post - Charles also posted some additional thoughts and details. Check them out here.
ADD Trader made a great post worth reading on his blog - check it out here.
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trader-x
Mentoring: The Key to Developing as a Trader
5 days ago
4 comments:
Another slim day but found 2 worth trading.
WAT 15M/7B - Exit = 1/2 @ 138 FIB 1/2 @ break LO of 15B (didn't take 6B entry as EMA was a bit far away for my taste)
JSDA 15M/7B - Exit = 1/2 @ 138 FIB still trailing 1/2 (will cover at break of last 15M LO candle)
Hope tomorrow brings all of us a little more to choose from.
j,
I traded JSDA today too. I also entered on the 7th 15 minute bar. I exited entirely at 18.41, the 38.2 fib retracement. May I ask why you were looking at JDSU? I found it in a list of 52 week highs at stockpickr.com
Thanks,
tony
tonyb: I use TradeStation it has a HotList of the biggest % movers that is where I saw JSDA for a trade.
Interesting: opening 5 min naz >$20 >1pt up/dn >9k vol yielded following: crdn akam cyno esrx stld goog ccoi amgn wynn. I noticed they bounced off the 5 ema and curled up/dn to make a new high/lo on 5 min charts. stld ccoi reversed. News!Sub prime stocks sold off/ lend fed cfc ahm nde fmt/ touched the 5ema/5" and reversed. Homes too. Long akam 3-15m exit break 24-15m for coffee. Not a good trade 3 wide bars at the open but had 5ema support but that was far away too.
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