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Note:
Trading the Market’s open can be very unpredictable and risky. As a reminder, I will not take any new trade that sets up during the open or within the opening five minutes. If a trade sets up during that time it will be cancelled and I will look for another set up and trading plan. Simply put, any trade that sets up on the open is no longer valid. I prefer to wait at least five minutes prior to taking a new trade. The first five minutes are highly volatile and subject to many false moves increasing the risk greatly. I just want to make everyone aware of the increased risk if you choose to take a trade during this time.
PLEASE NOTE:
The primary focus is to find Swing Trades. I look for intraday setups that have a potential to become swing trades.Since traders area diverse I do post additional ideas (day trades, position trades and scalp trades). It is up to you to decide which trades are appropriate for your trading style. I do NOT personally take every trade (I don't trade scalp and fast trades). Your success depends on YOU taking trades you understand and like. I am always available to contact for additional trade explanation.
TRADING THE OPEN
During normal market conditions our regular setups generally do very well regardless what time they are taken. Trading right at the open always adds risk. It is recommended that new trades not be taken for the first 5 minutes the market is open. I will treat each new trade that sets up during this time as a gap trade and wait till the stock comes back and takes out its 15 minute high or low.
Trading is risky. It is our job as traders to reduce this risk and increase our chances of success.
IMPORTANT:
Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Over trading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!!
Day - swing trade corner
Dear traders,
I like to write few words about moment. When I was learning about trading (still learning) one thing impressed me and that was emotions. In my opinion emotions are more than 80% of trading. I 3will try to explain. We all can learn patterns and scanning for new ideas. That is just how persistent we are. That is just my opinion. We can learn from experience how big or small risk is. After that it is our decision what risk we will use. But if won’t feel good in trade what we are taking, if we really don't like pattern or if we have suspicions, if we don't have trust in trade then we have problem. Yesterday TSM (second trade) is very good example. I took it and I didn't trust much. Generally, I like pattern, but I didn't like intraday action and I didn’t trust. Closed trade breakeven and after that before the end TSM closed promising. My emotions have come out and I made decision. We need to control emotions. It is not problem with that trade, after all I don’t have any risk there. It was good for me to close trade because I didn't feel good in it, problem is that I took that trade without trust in it. I truly hope that make sense.
Reason why I'm trying to explain this is today situation. I found many nice possibilities: lie AAPL, MAFT, PYPL, again TSM, ORCL, ABBV, ABT, LLY, UNH (all same sector), ASML, TMO, AMGN…But I don't trust to market for swing long. Of course, that I can easily be wrong. Maybe I will take something, but for me that will be with smaller risk. All look to good to be true in (for me) extended market. Maybe I'm too conservative, maybe I'm to caution because I feel responsibility for my customer accounts, but if my head is not clear, for me it is better to be extra caution. I truly hope that all make sense. For sure I will be with market and then I will see. This is reason why I don’t have trading plan for individual stock before market open. If anyone will have any question please let me know.
NOTE: next week I will be on the Croatian coast. I can't promise, but my plan is to send watch list. This is my 1st vacation after 2018 year (5 days) and I hope that you all will understand that. After that I will back in normal.
Wish you all good trading
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Note:
Trading the Market’s open can be very unpredictable and risky. As a reminder, I will not take any new trade that sets up during the open or within the opening five minutes. If a trade sets up during that time it will be cancelled and I will look for another set up and trading plan. Simply put, any trade that sets up on the open is no longer valid. I prefer to wait at least five minutes prior to taking a new trade. The first five minutes are highly volatile and subject to many false moves increasing the risk greatly. I just want to make everyone aware of the increased risk if you choose to take a trade during this time.
PLEASE NOTE:
The primary focus is to find Swing Trades. I look for intraday setups that have a potential to become swing trades.Since traders area diverse I do post additional ideas (day trades, position trades and scalp trades). It is up to you to decide which trades are appropriate for your trading style. I do NOT personally take every trade (I don't trade scalp and fast trades). Your success depends on YOU taking trades you understand and like. I am always available to contact for additional trade explanation.
TRADING THE OPEN
During normal market conditions our regular setups generally do very well regardless what time they are taken. Trading right at the open always adds risk. It is recommended that new trades not be taken for the first 5 minutes the market is open. I will treat each new trade that sets up during this time as a gap trade and wait till the stock comes back and takes out its 15 minute high or low.
Trading is risky. It is our job as traders to reduce this risk and increase our chances of success.
IMPORTANT:
Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Over trading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!!