Tuesday, May 19, 2009

Tuesday's night minds

I wrote a Monday's review below and now want to write some minds too.
A TraderFeed's quote: "Several traders that I interacted with today were not able to participate on the long side despite the fact that the stock market was strong throughout the day. When they explained their selling bias, they said things like, "I just don't believe we should be trading up here" and "There's no way we are going higher"". During US trading hours, trend dont change often. Maybe even better to say wave. We have maximum 3 waves in trading day. Often we have just one wave - good trendive day. So, why we trieng always to catch a reverse? My expirience saying that i have better results when i just trading on the past direction.
Another problem of daytraders - they make trades too often. Its hard to make new deals every day , but more hadder to make it a lot due trading day. Its not to hard to do analyses, to click on keys "buy" or "sell" . Its hard to keep realized good and to perceive patterns correctly, as you can do it not in trading hours.

No comments: