Wednesday, May 9, 2012

keep on keeping on

Still here, still trading, always adapting. Been very light trading in the morning, with 1/4 size and a "right or right out" mentality. I have been making more successful trades in the afternoon after things shape up and the direction of the day becomes clear, so have shifted accordingly. It seems the market is all about headfakes in the morming. I remember a time when most my trades were morning gappers, and what you saw was what you got, but that is not working so much for me now, so mostly sticking with unusual high volume stocks and playing breaking news. I was 2 seconds away from getting DRIV, and missed LEAP and PCS entirely. I took PFE but got wick'd and didn't get back in, but I did get AVP. I was late and missed the initial move, but took the second break and it worked instantly. One good trade makes up for a stretch of tight misses.