Today's Marketbeat:
The market started the day gaping down on the broad exchange, but it quickly found it's support on the pivot (S1) and didn't look back from that point quickly crossing the days pivot point and moving up to test the pivot R1 around the 2:30 reversal period. With Internals being messy to say the least, the A/D line and Breath not showing a clear cut winner, it's easier to let the market show its hand and play on what we see. With a close near the highs of the day, after a little drop prior to the closing bells the market looks to hold its hand for now.
Close #'s: Dow: +12 / S&P: +3 / NASDAQ: -8 / Vix: -0.75
Internals: Breath: +1.1:1 / TRIN: .70 / Core Sector list = 9/7 to the Bulls
Some stocks im watching:
Patterns: NIHD (Possible H&S forming), WYNN (Possible H&S forming), MHS (Symmetrical triangle)
Breakouts/ Bounces: AMZN, PLCE, PBR, MHS
Unusual Options activity: DBA
Today's Option Eduction:
When I began trading, it seemed very overwhelming. All these stocks, all these types of plays, risk - reward, volatility...You name it, the market will more than likely throw it at you. One thing that I have implemented into my everyday routine for trading is define a clear and precise trading plan, that goes beyond all the noise the market can sometimes bring. Now when I say plan I don't mean your game plan for your trade. I mean your game plan. How you trade, when you trade, when not to trade.
Before I knew about this difference I assumed that my trading strategy, that is to say, what i was looking for in a trade, my entry/exit plan, my checklists...risk to reward. All those are important, but they are not your plan. Your plan must go beyond individual ideas and go into the deeper person who is trading. What i mean by this is what are the circumstance under which you feel good enough to trade, or when could your focus on trading be lost due to family situations, holidays and whatnot. What are your long term goals, shorter term? How do you plan on achieving those goals? these are all good questions to ask yourself when developing a good trading plan.
You could have unlimited strategies, one for swing, one for long stock, one for calender spreads, one for speculative plays. And they all hold their importance. But having a trading plan that governs all those strategies has been an important aspect to my trading. I think it could be good for you as well
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Important Disclaimer! This website is for entertainment purposes only. Equities, Futures, Options, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Absolutely do not trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell equities, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Absolutely consult your Registered Financial Advisor and your Risk Trading Plan before ever investing or trading any financial instrument!
Close #'s: Dow: +12 / S&P: +3 / NASDAQ: -8 / Vix: -0.75
Internals: Breath: +1.1:1 / TRIN: .70 / Core Sector list = 9/7 to the Bulls
Some stocks im watching:
Patterns: NIHD (Possible H&S forming), WYNN (Possible H&S forming), MHS (Symmetrical triangle)
Breakouts/ Bounces: AMZN, PLCE, PBR, MHS
Unusual Options activity: DBA
Today's Option Eduction:
When I began trading, it seemed very overwhelming. All these stocks, all these types of plays, risk - reward, volatility...You name it, the market will more than likely throw it at you. One thing that I have implemented into my everyday routine for trading is define a clear and precise trading plan, that goes beyond all the noise the market can sometimes bring. Now when I say plan I don't mean your game plan for your trade. I mean your game plan. How you trade, when you trade, when not to trade.
Before I knew about this difference I assumed that my trading strategy, that is to say, what i was looking for in a trade, my entry/exit plan, my checklists...risk to reward. All those are important, but they are not your plan. Your plan must go beyond individual ideas and go into the deeper person who is trading. What i mean by this is what are the circumstance under which you feel good enough to trade, or when could your focus on trading be lost due to family situations, holidays and whatnot. What are your long term goals, shorter term? How do you plan on achieving those goals? these are all good questions to ask yourself when developing a good trading plan.
You could have unlimited strategies, one for swing, one for long stock, one for calender spreads, one for speculative plays. And they all hold their importance. But having a trading plan that governs all those strategies has been an important aspect to my trading. I think it could be good for you as well
---------------------------------------------
Important Disclaimer! This website is for entertainment purposes only. Equities, Futures, Options, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Absolutely do not trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell equities, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Absolutely consult your Registered Financial Advisor and your Risk Trading Plan before ever investing or trading any financial instrument!
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