Journal of my thoughts and trades on the path towards achieving a consistent monthly income from day trading!
Tuesday, July 13, 2010
Powerful markets...
The markets gapped up this morning and are looking more powerful than ever. Although I still believe that this is merely a bear market rally I know that the markets can rally for longer and further than I can ever anticipate. Therefore, if by day's end I do not see a reversal and sharp sell off in the markets and individual stocks including the ones I am holding then I will exit all my positions for small manageable losses!
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MY DAY TRADING RULES
I will ONLY put stocks BREAKING OUT OF DAILY CONSOLIDATIONS TO NEW HIGHS OR NEW LOWS ON HIGH RELATIVE VOLUME from my DAY TRADING SCAN into m...
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Since the 10th of May, I haven't been able to trade on account of my violation of the PDT rule in the speed trader account I was using a...
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BIG PICTURE: Still in an up trend. Still long biased! MY BEST IDEAS: $RKT: Recent IPO. After an initial 2 day pop, it pulled back for four...
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