Thursday, September 23, 2010

NFG




In light of what NFG did yesterday, I practiced a little patience and let it run. Now I'm getting out while its still rising

NFG entry











add size


















NFG exit

6 comments:

Day Trading Fool said...

Unreal. Keep setting the standard. Keep showing us this stuff.

And the SINA trade lol... you got within 0.03 of the high on that exit candle!!

Daniel S said...

Hi Scott, which broker do u use to trade? do you believe trading with CFD

thanks

Daniel S said...

Hi Scott, is Daniel here...I have been following you since your previous blog...I'd like to ask you one question?

How do you determine which stocks are you going to play for the day? do you have some form of edge or routine to determine so?

Let me know and thanks a lot

daniel

Scott said...

Dtf- The SINA trade was fun.
Daniel-I use penson as a broker, realtick as a platform.
I have the stocks on my watchlist that I am familiar with and watch carefully but then whatever looks good from the making new highs/lows ticker is where I find the new gold mines. If they are moving , they are in play and I'll just jump aboard.The reason they are moving doesn't matter, only that they are.

Trevor said...

Hello,

I've been reading you for some time, quick question - are you on stocktwits or do you have any chat room recommendations? I've tried a few pay chat rooms and been unimpressed, but I really do enjoy twits, and having people to chat with does ease the dry spells throughout the day!

Keep on writing, I really enjoy your posts and check back often for updates.

Scott said...

Trev-nope, never on stock twits, i view the whole thing silly and a concentration breaker. a well set up trading platform will give you more opportunities then you can ever trade, faster than any chat room and without diverting your focus. i admit when i started i was on chatrooms in hopes that i could find information on stocks that move. i realized though it is better to be able to find things myself and trade solo.when you can reduce and eliminate other peoples noise into your space you will find that you will be able to see and feel the market better.
not trying to sound like an asshole here but while you are chatting and making cyber friends, i'm using the dead zone trading time to review my performance up to that time, look for where i could have done a better job, practice visualizations, practice concentration exercises, look for any smaller clues as to market direction, repeat some affirmations or go for a walk in the park and get some fresh air. you have to give 100% to this if you want to succeed or traders like me will be buying when you're selling and selling when you're buying.