ETF SWING & DAY TRADING

[CITYHAWK]

Duma

Glad you liked that story. Perhaps i can update if my pal allows me to meet him ??? That might be fun.

i was a little taken back by the new IRS rules that applied to my day trading from last year and am now going to be very very selective about this type of trading. Not saying that i am not going to do it but most likely will only try when i see either from the close etc. into the next morning a set up that i really think has max potential or perhaps even a set up the week or just a great 123 type of thing etc. Yes i was for the most part kind of doing that last year but i realize that do to my not taking big losses i feel i over traded and it hurt my total profit with this Disallowed Wash Sales. So a lesson learned.
In an interesting way i think that from what my pal kind of says is that the big trader fellow mostly trys to time reversals ( maybe a major S/R , Fib and a Wave thing???) then sets up the order with a really loaded boat and takes the profit a little early but the thing seems like the stop loss is a little wider and perhaps due to the fact the trade is contrived with such understanding of what is to risk reward happen etc.
That style has always been a little harder for me for i seem to like the 2 with a trend line if there is enough space from the one LOL or just the move from the 3 etc. if also enough room has transpired. Guess that would be more of a trend type trader.
Well i will be looking into my minds eye more for this other set up as well. BUT again i am not going to be day trading much unless i move to Futures etc. So i am really working on the swing trade process more for all the reasons.
Ok a rather long post but what the hack.
i hope all is going well with your projects and etc.
If i may say i have confidence in your trading :o) so i was really speaking of life in general.

Best wishes,

ch