Hi Mitta3Good to hear from you. Everyone developed their own...

Hi Mitta3

Good to hear from you. Everyone developed their own trading strategy. I've been trading with my current plan and have been averaging reasonably good return with high wins and lower losses. But my strike rate is only satisfactory and would like to get it higher.

Regarding shorting or long, normally by looking at the live intraday chart or even trading screen, you get to "feel" where the support or resistance is. Generally it's when there's consistent buying/selling at a particular sell/buy price over large volume. I've watched this over many years and it hardly gone wrong. Just like LNC when it was trading just 80c a few weeks back, I was watching it at that level and lots of 50K @ 80c gone through, reminds me of when XJO rebounded over few hundreds points during the GFC turnaround when buying was frenzy at the reversal point.

I normally like to short at T3, i.e. first day up with great news - it's hard to short at first day except when it reached exhaution past the opening price (i.e. UGL, ORI amongst others), 2nd day gap up (when trader joins in after reading good news overnight), 3rd day when the general investors or those who missed out don't want to miss out on the ride (like MMS on T3), it gapped up but it's just the final bunch of buyers (i.e. exhaustion). That's how I normally find my entry/exit points with reasonably good level of risk/return.

I also don't ave up or down. Based on my past experince I find that I always end up lossing more than breaking even, it's just one of my trading strategy and everyone has diff set of rules.

cheer pcyc