Passion and Patience...2 Words That Will Improve Your Day Trading

[2leet2cheet]

Yes, you see something getting killed; you short. It's getting killed for a reason. Picking bottoms is a fools game.

"What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower."

- William J. O'Neil

[Elchapo62]

Great call Mr.GSP.

[2leet2cheet]

Rebound...You used the word rebound, implying you were buying something knowing the primary trend was down. Anyways, good luck picking bottoms.

[Greatstockpix]

@2leet2cheet Ok, so by your logic, when we find something that's getting killed on an intraday selloff, the logical trade is a short? And you say you don't understand my trading strategy? I'm having a little trouble with your logic as well. I've been running this website for 8 years now, and I've learned a thing or two about how stocks look right before they reverse. Good luck to you.

[2leet2cheet]

You mentioned; "Two and a half dollar move with 30 cents risk" Where did you get this 30 cent number from?

[Greatstockpix]

@2leet2cheet That simply means the protective stop was .30 below and didn't get hit.

[2leet2cheet]

@Greatstockpix I don't quite understand your strategy. What's the point in picking bottoms when you can only hold for a small bounce? Why not get on the right side of the market, thereby "letting your winners run".

[Greatstockpix]

@2leet2cheet Are you really calling a 7 dollar plus move 'a small bounce'??? Bottom feeding may not be a viable strategy to you, but our chat room members love it. Perhaps you just don't know how to do it so you mock it. Is a 7 dollar move less money on an intra-day reversal play than a 7 dollar move on a 'right side of the market' trade??? Please explain because perhaps my calculator is just not working today.