Posts Tagged ‘ Trade ’

TRADE REVIEW $SHLD

Slow grind up in the markets $SPY $QQQ $ES_F, making the bears sweat with each grind up and those who missed the buy are waiting for a pullback. For us day traders, it really doens;t matter what kinda move the market does, we always find the movers and the shakers and trade the easy setups like clockwork.

Came across the $SHLD call out on twitter by my friend  @askchrishetrade , follow him if your not, some good call out he’s been making on the stream. Nevertheless, call out and executions are two different things. We trade different styles, I am more of a breakout trader and he was in at 45.28..i instead waited for a breakout 45.40 to get involved. Again. diffrent traders different style, bottom line is as a trade you manage your own risk.

For traders who are looking for HIGH LEVERAGE, LOW COMMISSIONS and RELIABLE PLATFORM, check out TRADER BENEFITS TAB for more info., earning season requires you to have enough buying power to be in trades and having a Power Day Trading account can help.

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Why I went long $SPY today

Price action in $SPY $QQQ $ES_F is conducive to start long positions, as a result we started building our core positions in  our online trading room  $SPY today between 140.70-141.20 region , stops at 138.

We had a nice 6% profitable core position $SPY  swing in July ,which was documented here https://dchsn6.wordpress.com/2012/08/16/spy-target-1-142-achieved/. The charts below show my analysis for the swing core.

 

If you would like to join us in our trading room, email: dcshn6@gmail.com.

For traders who are looking for HIGH LEVERAGE, LOW COMMISSIONS and RELIABLE PLATFORM, check out TRADER BENEFITS TAB for more info., earning season requires you to have enough buying power to be in trades and having a Power Day Trading account can help.

 

 

I personally trade by watching price action only, with no fancy indicators as such and with the current dips being bought last few days, it tells me market has a bid underneath it.

 

 

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TIMING TRADES WITH THE MARKET $LULU

Basebreakout my favorite play was back in action today. Right off the bat in the morning in the free live trading room, I mentioned best case scenario for the bulls would be a slight up or down day in $SPY $QQQ $IWM, basically long story short a DOJI Candle is what I was looking for.

At this point of time unless a stock has some catalyst behind it, I don’t wanna be shorting any stock. I was looking around for some names to go long all morning, but most of them acted really sloppy and the candles on those charts were all over the place. As usual I ask my guys in the trading room to look for stocks which are clean, hence lesser chances of getting chopped out. I came across $LULU which was one of the strongest stocks from yesterday and was eyeing for an entry to go long. Once I saw the pattern , basebreakout in this case,  yours truly pounced on it and  made  a quick 5R reward to risk trade. The best of all, I timed it the markets as $QQQ was just breaking it’s intraday high as well, it helped me to get in pretty big in size with this trade.

Picture are worth a thousand words, so here it is

My top idea going into tomorrow is $LNKD, drop by in the free trading room , if you would like to see how I trade it.

Email me : dchsn6@gmail.com for free online live day trading room

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Trade Review $V

Inside day in $SPY $QQQ made it kinda hard to trade, with no followthru in most names on either side. The most convincing play of the day for me was $V Visa to the short side which was called out in free online trading room.. It had some settlement news premarket, which made it gap up above 127.60 on the daily chart. But with the market being an inside day not a lot of conviction to the upside so I tried eyeing it for the short side. $V went down 2 points from where I shorted, however from my trading plan perspective it was still a 4.5 reward to risk trade.

Shorting the gapup names are always tricky as you never know when those bag holders are gonna jump back in and drive the prices up.

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HOW TO IMPROVE TRADE MANAGEMENT $STZ

$STZ one of the strongest names from yesterday  and was on top of my list. My entry was PERFECT which was called out in our free online trading room but trade management was a bit all over the place. Even though the rest of the guys made some decent cash on it.  For me if I had to rank it, I would give it 2/10.

As can be seen from the chart I got the right price for entry, I even scaled out some of on the 1st piece near the .20s, for the rest I should have moved my stops to breakeven and let it breather and see what is going to happen, instead I closed out on that pullback near .07-.08 region.  Even though it still came out to be high reward to risk- trade because of my entry price, the trade could have been even better. As traders, there are times like these which will happen. That’s why we LIVE AND LEARN and Survive to trade another day.

I am also offering a 6 HOUR POWER DAY TRADING COURSE for new and experienced traders.

My previous Market Calls

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TRADE REVIEW $SINA

Base Breakout is by far one of my favorite patterns, also my bread and butter trades. Not all base breakouts are the same. While day trading , a lot of base breakouts happen but which one works and which one doesn’t is what differentiates between a profitable day and a losing day. We discuss all the probabilities in our LIVE ONLINE DAY TRADING ROOM.

Even though today in the morning it was a choppy day for me personally with no followthru in many of my trades, I managed to keep my losses really small and when this opporunity in $SINA cameby, I literally pounced the table and informed my traders in the trading room that I was doubling up on that trade. The $SINA chart pretty much tells you everything that I did. I messed up the trade a bit cause I took profits way too soon. But nevertheless, for me it turned out to be a 5:1 reward to risk trade and in this market environment in $SPY $QQQ, I will take that anytime.

I am also offering a 6 HOUR POWER DAY TRADING COURSE for new and experienced traders.

My previous Market Calls

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BEST TIME TO TRADE DURING TRADING DAY

I have been asked this question many a times why I don’t trade the open as easy and quick money is always   made there. My response has always been it’s not within my gameplan.  Which hours to put on trades is one of major criterias of my trading and has given me high probability trades with minimum risk.

I break it down into two

1. For morning session 10:00-11:30am

2.  For afternoon session 1pm- 2:30 pm.

I have mentioned 6 reasons in total for both morning and afternoon session.

The thesis behind morning session:

1.By 10:00 am whichever stock that you want to go long or short would have shown you the trend by then.

2. The type of candles that have been laid down you can evaluate it easily. If before 10 am , the candle laid out were whippy and choppy with big tails up or down chances of you finding a good entry point in such a stock would be low.

3. Spreads are tighter than the early morning rush, hence easier to define risk and if the trade reverses against you ,you can smack it out easily, rather than an early morning trade say at 9:35 where you put on a trade and if reverses on you the stocks moves so fast and spready that it’s highly likely you won’t know what hit you, you would be like a deer in front of a car (it has happened to me before many a times but not anymore).

4.  Even though you might have made watchlist from yesterday not all of them would have triggered or moved the way you would have thought so.  Hence between 9:30am- 10:0am you can build a solid watchlist based on the market direction on that particular day.

The thesis behind afternoon session:

1. Whichever stock that has trended in the morning,  it will usually give you another opportunity unless the stock has already maxed out its daily range or its extended on other timeframes.

2. Spreads are controllable and risks can be more defined.

For free access to online trading room email:  dchsn6@gmail.com

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