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Go_Stocks

03/21/06 10:27 PM

#3665 RE: Pay_tience #3655

PP,

It is tough to squeeze time and do research if you have two kids and wife does nothing to help you, I have to wait until kids went to sleep., but I am in charge :-)

This was one of the reasons I changed from trading pennies to futures. To make consistent profit in trading stocks, research is a must, I'm not the kind of guy chasing the runners, I like to position myself first and wait for a run to come, It is slow, could take days, but I have no heart attacks. After-market DDs and constant charting is a must.

On the other hand, no research is needed in scalping futures, making 150-200 round-trip trades a day is a regular routine, very small profits on each trade, but sometimes one loss due to power failure/software failure/Internet connection failure could wipe out all the gains made in the whole day or even the whole week. In addition, I had to glue my eyes to the charts all day long, it is boring and stressful.

Now I feel much better in swing trading stocks. When I trade futures, I look at 30 seconds and 1 minute chart to made trade decisions, rarely look at the daily chart, now I look at 30 minutes, 60 minutes, and daily charts in trading these stocks, quite a change in pace, lol.








Go_Stocks

03/21/06 11:41 PM

#3671 RE: Pay_tience #3655

PP, 1.53 is certainly one of the pivots - along with $1.607 and 1.69 in this area. By looking at its support and resistence, the next strong support is at $1.31.