the wall, page-199

Mr. Mustard. I thought my post might ruffle a few feathers amongst the herd. So in my own words let me clarify for you. And as someone who has a proven track record in Day Trading, Short term trading, Momentum trading and Swing trading. I feel I have a right to voice my opinions. I have stated previously that I consider day trading to be amongst the easiest of the market disciplines. I had a few negative comments. The sad thing is that with the amount of information and very profitable calls I have made. Not one of the posters that posted negatively actually asked why I had that opinion. That’s why along with other things I really feel that perhaps my form of TA and the contributions I make on this forum are perhaps not understood by an ignorant section of readers who would rather just post negative, spiteful little one liners as opposed to asking for clarification of the topic.

The other sad thing is that after these 3 months I would love to see that at least the regular readers or the regular emailers could post in support showing me that at least they have grasped the basics of what is being posted. Alas, that seems not to be the case. And therefore I can only assume that my form of strategy for short term trading swings & momentum is obviously over the heads of all that read these posts.

Back to the issue at hand. To accurately chart a stock so that you have a very good chance of taking a profit on momentum or swings. You need to go back years and have multiple charting techniques and knowledge to make those calls accurate. Now here in lies the logic. The majority of day trades are enacted upon due to A. Announcement being positive. B. Volume corresponding to that announcement giving a signal for entry. The only chart work involved is through the trading platform so that you can look for support, resistance and patterns forming. Once the day is finished and you exit the trade. That’s the end of it. If you decide to hold overnight, then by definition it is no longer a day trade and it becomes a short term trade. And then you need to open the charts and run your calculations.

So I consider scanning for possible day trades. Taking a position. Watching the charts. And exiting the position to be 85% less work and much easier than. Looking through 2000 charts. Selecting those that match the criteria. Running multiple manual scans to weed out the weakest. Run multiple charting techniques on those that are prospective positions. Continue over days to watch to confirm you initial calculations so that you can take a position. Once the position is taken you would expect it to be longer than a day, so you may need to continue charting and reevaluating your position for days if not weeks or even months on nice momentum positions. How anybody can think that day trading is harder than short, swing or momentum trading is ludicrous. Even long term buy and hold is harder than day trading as although it doesn’t rely upon constant calculations of the charts. You need to have a very good grasp on FA that needs to be constantly updated.

Mr. Mustard not solely directed at you. But if any of you don’t understand the basics of what I’m alluding to. Please feel free to ask. It doesn’t make you look foolish to ask. It does make you look foolish to act arrogantly.

One other thing. If I said I found sky diving very easy. And a person said. No sky diving is really hard. In reality I have made a positive comment because if I can do it so can others. The second comment is negative. Because if you find it hard then you should say. I find it hard, emphasis on I. As it is only hard for you. That’s the basic difference between a positive person and a negative person. I always say, I can. I can. Most others are just I cants.