Lets please get back on track
What has happened to this thread?.....we've got 4 pages of waffle!!!
As this is supposed to be about trading, lets post some quality trades and commentary.
I am now settling into the evening session comfortably, as unable to trade the open at present due to work pressures. I find it a lot slower but still with some good moves. I'm getting used to level 2 a lot more, as the moves are not as erratic, so it gives one time to take it in and assess the evidence.
Theres a great thread on here by Naz and others way back in 2003. it's called "t/a and level 2". there is some very insightful snippets of how the master Naz uses L2.
Anyway, back to business!!
5 trades tonight: 2 losses, both got stopped out, 3 winners.
losses:
RIMM -20
SNDK -8
Winners:
AAPL +1.04
TXN +45
QCOM +43
Total = +1.66
Things I'm looking for in these evening moves, are the continuation of the morning, i.e. a breakout of intraday range (see DNA chart posted a few days ago). Caught a couple of these tonight. TXN and QCOM.
The losses could of been avoidable, as I rushed the trade and should have waited longer for more confirmation. I was waiting for the break of the lows on RIMM, but it just chopped around. I let it approach my stop when I should of cut it dead if things were not working within minutes. I do have a time stop on a trade and I should of implemented it!!
SNDK. I was looking for the next leg down, but it quickly reversed, so I took a small hit.
Other setups looking for in the evening are the down bars and a lovely juicy hammer like the one on the AAPL chart at 7.30pm UK. This was a classic afternoon reversal and I took it for a dollar, with hardly any resistance on the way up. As the missed Mr C would say "a no brainer".
All the best Mr C in your new endeavour. We will all miss your contributions.
Regards
Pitbull
