Great move. I did the same thing. I have 4 rules posted in front of my computer. 1) Cut losses 2) Wait 3) Take profit & run 4) Don't chase. I am seeing a change in my trading already.
Nice! I like take profit & run.
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No, I missed the spike to 5.10 by like 30 minutes and didn't want to chase but god damn It was perfect. Nice eye mayne.
@dailyzen hey thanks for your reply. ah too bad you missed it also. i love these perfect plays, i just wish i was around to execute a trade.
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Avoidable, yes, but at least you cut your losses quickly. That's rule #1.
Did you wake up for the market open or after?
@dailyzen I stay awake all night, study and make watchlist so Im prepared at market open.
Damn, #savage
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Hello there sorry for the delay in my reply. Thank you for the comments. I like to trade earnings winners (long) and dip buys. I use the 15 minute chart. I will tell you the edge is in shorting. Always safer to trade the break rather than ride the wave. That is the only way to make real money.
No worries, your probably a busy guy! That's interesting you use the 15 minute chart to go long, what would you say are the benefits of using the 15 opposed to the 5 or 1? Also, would you ever consider making a dvd for people to buy or are you solely focused on trading?
Less noise when you use the 15. The more swings the more emotional toll on your mind. Reduces mistakes from fakeouts that cause the trader to sell early or cover early. If I felt I could help students learn with a DVD I would do it. Right now I am still testing various methods to trade (long, short, etc)
I see, well your winning % definitely reflects that using the 15 is reliable lol. What indicators are you looking for on a breakout/ earnings winner when you buy and sell?
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@Jap11 Hey man, I scoped out your style of trading going long and I love that approach! Do you shoot for 5 to 10 cent profit targets most of the time?
Hi. You have amazing track record. Congrats. Can you please advice me what studies or charts do you use to take out 5 to 10 cents profit daily.
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