I've been trading 3 years now, mostly options and spreads. But inconsistent results. Some huge gains, then some huge losses. Very frustrating. I'm happy to have that experience- it "hardened" me against the experience of losing money.
But I think I am liking the "Dip Buy" concept better - for stocks; but I suppose it could work for options on more expensive stocks, but more complicated due to the price of volatility, time value, etc. It seems much easier to dip buy shares themselves.
Have Dip Bought couple times now. Having Stocks To Trade is so helpful. Like a lighthouse on a dark, rainy night. I look for guidance, tickers from them every morning, even if I don't plan to trade that day.
So far, dip buying has been very fun, but also very exhausting. Not so much figuring out entries, exits and stops, but maybe more so trying not giving in to my emotions, not chasing, and trying not to sell too soon. When price finally trades above VWAP after dip buy, I'm amazed how fast the price moves. Seconds, minutes. It's exhilarating and nerve-racking at the same time. I try to have a "mental" stop but that kind of ties me to the computer. I could also just set alerts, so that helps.
I try to set my price targets where shorts might put their stops as well as Fib levels, areas of previous resistance such as previous highs. For entries, Fib levels, areas of previous support, as well as MACD and TTM Squeeze. For entry, I try to time my entry before the TTM Squeeze fires to get in 'before the move'. I also have some other indicators from John Carter I like, 10X bars and multi-squeeze indicator. So in summary, I like 10X bar candlestick price action, TTM Squeeze, VWAP and Fibonacci levels.
thank you for sharing
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