Chart of the Day
* Little motion and no new tactical information [yesterday]. Market is still consolidating and still in breakout mode: expect sharp continuation once the consolidation is decisively broken. * The edge is still for an upside breakout. Intraday, selloffs are bought with conviction. Though the probabilities tilt toward the upside, respect the potential
Intraday Trading
Over the past week or so, I've written a bit about short term trading strategies on my blog, and I've also done two podcasts (here and here.) Starting tomorrow, I'm going to start a few posts that will look into the statistical behavior of
Podcast
This episode continues my look at short term (intraday and daytrading) systems and ideas. Here are the episode notes: What’s really happening intraday * Academic studies of market behavior show departures from random walk on lower timeframe * These are distortions, but don’t assume that this makes for easy trading
Chart of the Day
* Overall context is a broad consolidation, with volatility contraction visible on intraday charts as a triangle. * Within this area (and expect wide, “messy” definitions of the confines of the pattern—not precise levels), expect failures and sharp spikes that are quickly reversed. * Do not fade a breakout from this area,
Chart of the Day
* Bullish bias today, watching 2019 – 2025 as a reference range (not an exact level). Clearing this resistance could lead to a sharp rally. Failing to break that resistance could lead to another down day. Flexibility is required, but the market’s relation to that range will be the key. * Normal
Intraday Trading
When I was an active intraday trader, one of the things that was most important to me was having a rough roadmap for the day: what is most likely to happen, based on the current market structure and most likely emerging volatility conditions. This is the same concept that I&
Chart of the Day
* Momentum begets momentum—selling, usually, leads to further selling. Yesterday sent a loud and clear warning to bears in US stocks: there is a lot of hidden bullish conviction. The rally was, statistically speaking, the least likely outcome following Tuesday’s decline, and the message of that decline demands attention.
Podcast
Short term trading, intraday trading, daytrading--call it what you will, these styles of trading bring some unique challenges. Tools and approaches that work in other timeframes also work intraday, but applying them requires a different mindset and attitude toward risk. For the next few weeks, my blog will be focusing
Chart of the Day
* Yesterday's play was to not fade a break, up or down. This turned out to be correct, as the market gapped lower on the open, and did not look back throughout the day—ending in a volatile downtrend day for the entire session. * Assume bearish mode for the
Chart of the Day
This post is the first in a series I will be extending for a week or two, focusing on short-term and intraday trading. Each day, I will be publishing a chart of the day that focuses on the best short-term ideas and setups I see in the US stock index
Podcast
Off topic warning! If you are only interested in finance and trading, this podcast is not for you. :) This episode is 100%, completely about coffee: how different varieties taste, how to roast it, how to make it, and how to make the best possible coffee you can at home. If
Psychology
I was honored to be featured on the Stocktwits Must Follow Podcast series a few weeks ago. I had an interesting conversation with Sean McLaughlin in which we focused heavily on meditation and trader development, but also covered a number of trading-related topics and ideas. Some of you may already