DTers After Market Lounge 4th May

Originally posted by Infidel75 ↑

Good Evening Everyone

I hope you all had a good day. Ben you still on Big? Nice if you are. At least for me (perhaps I was just looking at the right stocks for a change) I felt like some life returned to the market. Below is a scan of what moved today and how it ended up.

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If I may make an observation I would like to touch on something that Cabbie said last night something along the lines that perhaps day traders shouldn’t day trade.

FWIW , remember I’m still finding my mojo as a trader, but as I’ve touched on before I believe it is about being in sync with your timeframe, the ebb/flow and the corresponding results timeframe. It appears, at least to me, the DT thread is generally more of a very short term thread. What I mean by that is most posts, myself included, have charts with a daily interval, which is great for identifying the overall trend but little use to intraday traders. I always thought that day traders meant intra-day. It doesn’t really matter, but just set your expectations in line with chart interval you’re using. I guess what I’m saying is if your using a daily chart don’t often expect daily result rather weekly ones.

To that end I thought I’d paper trade THC today on the 1 min chart to see how I did. Seeing as the chart is/was new nothing but price / volume action to go on as no other indicators were available. It was fun and “profitable” for anyone looking to hone their skills I recommend trying it, especially in times of boredom. It wasn’t that hard as the trend was in my favour (probably a lesson there) but the chart and the analysis evolved over time as more data was available. It was interesting to see if I was right when I wrong, right when I was right, wrong when I was wrong or wrong when I was right if you can follow that. In case anyone is interested below is the chart.

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Thanks for indulging my ramblings just thought I’d share my observation in a continuing effort to improve.

The road is long and path isn’t wide…..

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For intra day - 1 mins ,the first red candle is usually exit and the first candle to break the high of the previous candle is an entry . Obviously , volume is key and 9 ,20 ema's usually a support / resistance .

This obviously is just my opinion and if you see the charts you attached it holds.

Interested to see other trade's intraday stratergies.

Thanks .