Re - the RMBS trade earlier.
This stock was on my radar as being highly likely to produce a very tradable move because of pre-market evidence.
The price ran up quickly and then briefly pulled back. I was watching the Time and Sales screen and also had an eye on another couple of things as the seconds past. When it started rising in the particular way I like, the long trade was triggered.
When the micro factors I look at indicated a possible pause, I exited half and when the same factors kicked in again I exited the rest.
This was a quick opening type trade and I knew I was going to have to leave my screens at about 3pm.
I know some of the people I've coached followed my five minute trading rules and made a lot more money on the RMBS move than I did! They were lucky their plumber wasn't on the way!
I know some people feel I should give a lot more information about why I choose a stock, enter and exit. I understand that completely, but I also feel it would be unfair to those whom I've coached to reveal set ups, triggers, methodologies etc publicly.
Of course that can be and is misconstrued by some and I can see why they would think like that.
Hopefully anyone interested in trading the US intraday will understand my dilemma about explaining trades and can look back and deduce some things for themselves.
Perhaps the above words might "provoke" adverse comments from some, perhaps even more unpleasant emails, but I really don't care - I love trading and I love teaching - sorry!
Richard
