10/31/2008
Day trading Technical Analysis:
The markets were making a symmetrical triangle and support and resistance within the triangle is 8200 and 9300 in the Dow. The bulls clearly defended the 8200 several times. A break below would see the Dow at approx. 7100 – 7400 which would be the 2020 lows. A close above 9300 [...]
Archive for October, 2008
31 Oct
Day Trading Technical Analysis
29 Oct
Fed Cuts Interest Rates
The Federal Reserve cut 50 basis points today to 1.00%, meeting the consensus forecast figure. Stocks had an unusual reaction to the news, first selling off, then rallying over 200 points only to fall 300 points in the final 30 minutes of the trading day. The Dow closed down -74.16 to 8990.96 below [...]
27 Oct
knowing what “should” happen next when day trading
Do you want to earn a great living as a day trader? The only way to do that is to understand probabilities and take every trade based on what is probably going to happen, not what “is” going to happen. When managing money you must always look both ways before you place a trade. Most [...]
25 Oct
“How do I trade this market”?
The curent market environment we are now trading in is one that has not been seen since the the 1920’s. Until we realize this as traders, we will be frustrated with our trading systems. The volatility is great if you understand how to trade it, however if you are only relying on technical analysis you [...]
21 Oct
Remote Trading…
Trading from afar: This week I am trading remotely as I am not in our NY office. I can say that it has been so far a good experience. I have set myself up with a couple of screens and have found that traders can do with what is available; the most important component in [...]
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