Wednesday, May 13, 2009





Less than 15 minutes to go, not much conviction up or down so I'll close everything out

SKF











FAZ


















JPM















MS
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3 comments:

fozzking said...

thanks again for all the insight. i am trying to get a handle on playing these momo stocks. right now, since i am finally "live" trading real money, i am focusing on gappers that break highs/lows after 10:30 or retrace. they are usually pretty slow moving trades but they make money. i can make rookie mistakes with these slow movers and still recover. in the afternoons, i try paper trading these momo's, but i haven't gotten the timing right yet. i shorted ice today after it and cme ran up three huge 5 min bars. i was a little too early and got shaken out. tryed buying it, but got shaken out there as well. i am just not use to those price swings and quick action. in the end, i was right but had bad execution. i try timing skf,sds,faz,fas with the s+p or qqqq graphs like you talk about but i am just not there yet. we will see as the year progresses. thanks again for the insight.
-joshua

10:11 p.m.
Scott said...

CME has such a huge spread, it wouldn't be to hard lose money on that one right away. Try MS, JPM, WFC, ZION, they have a .01 spread so it's nice for entries,stops and exits. You never get a bad fill.
Recognizing momentum just takes time spent watching the markets. Don't think you will run out of opportunities if you're just watching and not trading. Tomorrow is another day. You get a valuable education and day by day your skill and confidence rises. It works much better than jumping in before you're fully prepared and blowing out your account and getting psycologically damaged.

10:29 p.m.
fozzking said...

sounds good. i will keep on eye them. yes, the spread is pretty wide which makes it even harder. like you said, i just need to increase my skill day by day, and in return my confidence will grow.

7:02 a.m.

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