Tuesday, June 24, 2008
Stock market, Stock trading , We Just entered a new stage, keep reading if you want to make money
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Stock traders and investors, stock market lovers (including option traders):
(New readers, email me at emailfinancialtraders@gmail.com to be added to the list and to receive trading secrets and be added to the by invitation only blog )
I have been doing well trading NDX, and just the last three days led to extremely well good results.
But now we have entered a price action type that needs a different way of thinking. It what what I call the second regime phase in a markdown leg. The first regime is done in the mark down.
It is the reason why I anticipated the three legs I discussed in my previous post (before the market open).
From now on, one needs to use a different type of market timing tools, and different type of money management and stop tools. To expand on this would need a longer column or posts.
I will write about this in the messages send to the members of the blog list.
But here is the message. If you are someone who is bearish on NDX and sells daily bottom breakouts. You should step to the side.
In the phase that just ended it is a pros one to make money, but now those pros can fall in trap and become preys.
The skill that is now needed is to time bottoms, and tops, and be vigilant to a break of the previous day.
I will post a system that I designed just for price action in this phase. It has never failed since I have used, and there is a reason for it.
For instance if you used to go short on a day when the price finish at bottom of daily range, watch out. The next day can be a gap up or if not a break of previous day low take place shortly after the open, and then the price goes the other way.
This does not make that the price will not go down further, but that the reversal can happen fast, and without notice including a morning huge gap up.
Again: we just entered phase two, it neeeds different tools, and most importantly a different MIND set.
Happy trading,
PS: email me at emailfinancialtraders@gmail.com to be added to the list and to receive trading secrets and be added to the by invitation only blog.
(New readers, email me at emailfinancialtraders@gmail.com to be added to the list and to receive trading secrets and be added to the by invitation only blog )
I have been doing well trading NDX, and just the last three days led to extremely well good results.
But now we have entered a price action type that needs a different way of thinking. It what what I call the second regime phase in a markdown leg. The first regime is done in the mark down.
It is the reason why I anticipated the three legs I discussed in my previous post (before the market open).
From now on, one needs to use a different type of market timing tools, and different type of money management and stop tools. To expand on this would need a longer column or posts.
I will write about this in the messages send to the members of the blog list.
But here is the message. If you are someone who is bearish on NDX and sells daily bottom breakouts. You should step to the side.
In the phase that just ended it is a pros one to make money, but now those pros can fall in trap and become preys.
The skill that is now needed is to time bottoms, and tops, and be vigilant to a break of the previous day.
I will post a system that I designed just for price action in this phase. It has never failed since I have used, and there is a reason for it.
For instance if you used to go short on a day when the price finish at bottom of daily range, watch out. The next day can be a gap up or if not a break of previous day low take place shortly after the open, and then the price goes the other way.
This does not make that the price will not go down further, but that the reversal can happen fast, and without notice including a morning huge gap up.
Again: we just entered phase two, it neeeds different tools, and most importantly a different MIND set.
Happy trading,
PS: email me at emailfinancialtraders@gmail.com to be added to the list and to receive trading secrets and be added to the by invitation only blog.
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