Posts Tagged ‘ Trading day ’

TRADE REVIEW $EBAY

Another distribution day since Sept 21, 2012 in $SPY $QQQ $ES_F.  Today after close also officially kicks off earning season, with $AA reporting.

This is one the many trade we took in EBAY making an easy 5R trade in quick 15 mins in our online live  trading room.

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

Risk: 4 cents

Reward: 21 cents.

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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TRADE REVIEW $SINA

Distribution days in $SPY $QQQ $ES_F are increasing, if your a long term- swing trader on buy side, market has given enough reasons to be cautious.

$SINA one of the stocks we shorted today, was on our radar to be shorted in our online live trading room yesterday if there was any weakness in the region of 63.70-63.90, however, we saw a a lot of buying in the tape yesterday, therefore had it on our list today. Once $SINA 62 broke today and showing weakness on the tape with a weak market, I started to look for shorting opportunity.

1st trade short  below yest low 61.85, got a crap fill and got in at .70s with stops at 62. Mentioned in the trading room if it break below 61.70s (2nd add)  time to double or triple up cause now the trade short was high probability trade on all time frames.

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.

Entry and exit was posted on twitter live too 🙂 .  Follow me on twitter @dchsn6

 

Follow me on twitter @dchsn6

Like us on Facebook: https://www.facebook.com/Dchsn6

TRADE REVIEW $SINA $EDU TPX $DFS

As I mentioned in the online trading room yesterday, we trade the best on days when $SPY $QQQ $ES_F doesn’t gap up big or gap down big. Lots of big winners throughout the day, where trader got ample amount of time to position themselves for the big move and even add to a big move which is even better. Check out the trades we called out in our online trading room .

If you would like to learn how to find these setups through my trading education or would like to join our trading room, email me: dchsn6@gmail.com for more information.

Happy Trading!! Let’s close the last day of September at the highest

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6 STEPS TO BE A PROFITABLE DAY TRADER

1. Financial Instrument: As a trader, you should understand the financial instrument that your trading whether it be stocks, options, futures or cfd’s. Each instrument has it’s own characteristics and personalities. Find which one is similar to yours and concentrate on that financial instrument. Best way to find out which one suits you is try demo accounts for those instruments, with the number of brokerages out there, you would be able to find a brokerage to have demo accounts for trial.

2. Capital: Once you determine the financial instrument you would like to trade , determine how much capital you would need. Remember, risk only what your willing to lose. If your a newbie, you might have a beginner’s luck in one-two trades i.e. why having sufficient capital to start your trading is utmost important.

3. Broker: Whether your profitable or not, you will always have to pay commissions for whichever financial instrument your trading. Find out which broker can provide you the following:

  • Low commissions
  • Stable and reliable platform
  • leverage
  • excellent customer service
  • easy to deposit and withdraw funds
  • trading room with trading mentors.

If you trade stocks then you reach out to me for which broker I use.

4. Trading Mentor: This is going to be one of the trickiest part, with some many traders out there and so many trading rooms. It has become confusing at times to find out which mentor is good for you. But once again, most mentor out there who run a trading room, they would have free trials to their room, so try to get access to it and spend atleast a month at a bare minimum and understand his strategy or personality and see if it resonates with you. @stocktwits has a lot of traders in there, you can see the posts of those traders and see if they fit your personality.

5. Trading Plan:  Trading is like a business, if you don’t have a plan of action your bound to fail. It’s only a matter of time, once you determined your trading mentor.  Ask the mentor to develop trading plan for you and help you with understanding risk management.

6. Trade Small Sizes: As a new trader when you start and have done all above 5, you will feel your pretty much invincible. But let me tell you straight up, if you keep hitting big sizes as a newbie, your account will shrink faster than you can hit those keys on your keyboard and you won’t even know what happened.

Hope all of this helps.

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IS IT TIME TO BUY THE DIPS?

At this point of time I would still be a bit cautioned about buying the dips. However, all the indications from the S&P 500 $SPY and NASDAQ $QQQ chart it looks rather constructive.

Image

1. At point A we had a failed breakdown of 131.20 level which was clear level of support.  Failed breakdowns lead to big snap backs.

2. At point B, we can see that market gapped down on June 27th and June 28th and on both days the bulls took control and bought it right back up.

3. At point C, the utmost important resistance of 136 was breached rather convicingly on high volume on June 29th. Now, some traders may argue that on July 2nd and July 3rd the follow thru days was on lighter volume. But they shouldn’t forget that we had July 4th coming up, hence trading a few days before is usually light.

for $SPY we still have 138.40 resistance coming up. If your looking to intitiate long positions, I would recommend you to wait for either a pullback to 134 which is the gapfill or maybe look for a consolidation under 138.40. At this point of time, markets look a bit extended and a rest or a pullback should be considered as an opportunity to get in long.

At these levels on $SPY and $QQQ I favor the bullscamp, $SPY below 131.20  I will have to revaluate. But as a trader, for intraday trading I am willing to switch to bear camp on a dime.

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

My previous Market Calls

If you would like to see how I navigate through these markets intraday email: dchsn6@gmail.com for free trading room request.

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