Thursday, October 16, 2008

Big money continues to fly in through my window + $ 328,000.
I have switched tactics somewhat. Since many stocks are now very cheap , I have gone to trading ETF's. Plenty of multi dollar moves there without having to get rid of 10,ooo shares of something. Today I traded only 3 names and whenever they made a good move I'd take the profit and trade them the other way. I did stay in a few longer trends as well. The market may be volatile but for today at least it was very predictable and my win/loss ratio was stunning.
A lot of traders are having big troubles in the markets nowadays but I think if they would get back to the basics and quit thinking too much about where the market is going they would do better. You definately have to have a quick trigger finger. Turn off that TV and focus on the charts.

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