2 VIDEOS…Swing Trading For A Living From a Technical Trader…
Video #1…TraderFlorida “$RIMM sharing a few trading insights – TAKE NOTES” http://stocktwits.com
Video #2…TraderFlorida “$PCLN never chase gap ups” http://stocktwits.com
Trading is all about leaving your emotions at the door, I agree…hard to do though…
I just had to publish these videos for you, they were too powerful not to. It’s always nice to pick off the bottoms and the tops but like TraderFlorida mentions when the price is broken, wait for a consolidation and then pick it off. He also talks about Gap Ups in the price of a stock, I agree with him. chasing a stock just gets you into trouble.
Everyone trades a little differently but the fundamentals of trading are the same, you know the old saying about reinventing the wheel. I myself believe, like I’ve mentioned in the previous posts that the markets look as if they are topping, I’am not saying that emotionally but the characteristics and patterns of the charts. Jack Schwager said that “the only enemy a trader has is him or herself” otherwise stated.. emotions screw you.
Like TraderFlorida mentioned in his video about broken stocks. The HUI is broken on the monthly scale, I only call it like I see it. Until the price and the momentum indicators diverge I’m just going to sit on the side lines, I was tempted though, but I know that when the price of an underlying asset has good momentum on the upside or the down side, there’s usually a divergence. Until then, I wait for a pattern to unfold, and that could be a while since it’s a monthly chart…just have to wait…when the herd starts running, I don’t want to get trampled. Just a simple hit here or there for now. Trading for a living as a technical trader is all about looking at the patterns and acting on the rules around the patterns…if there are no patterns in the chart….don’t trade…simple.
The Charts are from me, 2 charts of the EUR USD and one of the HUI. When a triangle speaks, you listen…that’s all I have to say about that EURUSD and HUI has that nasty red candle breaking a long uptrend, nasty, but it might go sideways for a while. I’m not touching it, tempted though. Maybe the odd trade here and there if the setup is right on the hourly chart.
Swing Trading for a living takes time to master, so I would recommend coming back often and reviewing the 2 videos as a refresher…I know I will.
CLICK HERE… FOR THE RESULT http://www.swingtradingforecast.com/trading-the-triangle-chart-pattern/
EUR-USD February 1, 2013…Fibonacci, ending diagonal – 5 wave wedge – Elliott Wave a, b c patern
CLICK HERE… FOR THE RESULT http://www.swingtradingforecast.com/trading-the-triangle-chart-pattern/
HUI – Gold Bugs Index Monthly chart, January 31, 2012 big red candle stick is scary
