I will add to the list as request come in.
- When do I post a trade each day on my blog? I try and post each day before 8:00 PM eastern time after the trading day. I try to post at least 4 times a week.
- Is your trading plan a book or downloadable file? Its a adobe acrobat downloadable file sent by email.
- When is my trading plan emailed out? Within 24 hours, ususually much earlier as I check my email on a regular basis.
- When do I sell? I scale out as the trade moves in my favor and usually let it run, this is all outlined in my business plan.
- Why am I selling my business plan? It gets a little boring trading - no employess :) - so I figured to start my own blog to interact with traders and share my trading plan. My hope is that my trading plan will help others shorten their learning curve to becoming a profitable trader.
- How long have I been trading? Day trading a little over 8 years
- What platform do I use? Schwab Street smart pro (stocks) & Tradestation (emini)
- What types of stocks do I scan for? Stocks 10 and up that trade on average of 1,000,000 shares.
- What time frames do I trade in? 2, 5, 10, 15, 30 & 60 minute charts
- What do I look for in a trade? Volume, Supporting daily chart with room to run, Strong Candle to enter, Proper risk/reward
- Do I prefer trading an up, down, or flat market? My setups are for either up, down or flat markets. Most of my trades are long which favor strong markets but when the market is getting crushed you can find some nice oversold intra day plays that really move when they bounce back. These have been some of my better trading days.
- Do You trade all day? When I first started trading yes. I now prefer the first hour of the day using 5 minute charts. You can find plenty of nice setups. Some days I will stick around and trade into lunch.
Posts
13 comments:
Hi, I am trading in the Singapore Market (SGX), can your trading/business plan be use in Singapore?
not familiar with the SGX - I am sure some of the same concepts will work with any market if using candlesticks, stocks with lots of volume, money management, and playing stocks gapping up at the open.
Could I have a few days sample of your program before I purchase?
- here is the table of contents
http://www.howidaytrade.com/Table_Of_Contents.html
Hi, I think your book look very interesting. I use Trade Ideas for intraday scanning, do you describe in the book how to setup the right alerts and filters for your setups?
That part is very critical for me because of the overwhelming possibilities with the software.
John
I sparingly use trade ideas for my setups, I explain the parimeters I use to find setups. You can take those and use it to build a scan that fits your needs.
Hi..I am interested in your book and methods..but have to ask for some information on what kind of a return on Capital one can expect using methods like these..I understand every person will be somewhat different..but what would you suggest to expect from this type of trading...Thanks much
Learn a method, master it, and then increase your risk as you gain success. No matter how much money you have to risk start with the minimal amount until you achieve success.
For example risking $25 per trade to start. So if your entry is 51.
50 and your stop 51 then buy only 50 shares. Once you earn your success then move up the amount you are willing to risk. Dont go from risking $25 a trade to $500 a trade. Earn it and learn on the way.
Hi,Is you street smart pro set to a bracket order once you enter a trade or you manually monitor your trade as you scale out? Thanks
I both manually place my exits and use brackets. I dont make many trades so its easy to monitor.
What charting package are you using?
street smart pro and tradestation
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