[brownsfan019]

Originally Posted by thalestrader »

Hi brownsfan,

No problem, I have nothing to hide.

1) I trade S & P 500 stocks only, except for an occassional IBD 100 stock.

2) I monitor the 10-12 biggest gainers and losers on a percentage basis. I use the biggest gainers for long candidates and biggest losers for short candidates.

3) I select trades based upon support/resistance, chart patterns etc.

4) All trades are based on decisions made watching the 5 minute chart.

5) I use no indicators other than I do from time to time place a 20 EMA on the 5 minute chart. I will sometimes use pullbacks to the 20 EMA to buy/sell short.

So I am usually watching just 20 stocks, though I have the whole SP500 list on my screen. I simply scroll down through the top 10-12 gainers, and then I click on the %change column, and the watchlist reverses so that the biggest losers are now at the topof the list. I scroll down through the top 10-12 biggest losers. That is how I narrow the universe of stocks down.

When I am scrolling through the 10-24 stocks that comprise the biggest winners/losers of the moment, I am looking for potential breakouts from consolidations, flags/pennants, etc. As an example, I re-attached the CME chart from today. I was a buyer in the area highlighted within the green ellispse. As I always say, nothing fancy.

Also, you will see that I included my watchlist in the screenshot.

Best Wishes,

Thales

Excellent work and setup Thales!

What software are you using? I like the look.


Also - I started this thread to help any stock traders on the forum.

[thalestrader]

Originally Posted by brownsfan019 »

Excellent work and setup Thales!

What software are you using? I like the look.


Also - I started this thread to help any stock traders on the forum.

I like that set up also. Anyone can enjoy the same set up for free at FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

You can scroll quickly through your list by tapping the space bar.

Like I said, nothing fancy.

[thalestrader]

Originally Posted by thalestrader »

I like that set up also. Anyone can enjoy the same set up for free at FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

You can scroll quickly through your list by tapping the space bar.

Like I said, nothing fancy.

By the way - I did not post the link that way with the "best blah blah blah" tag line. I don't want anyone to think I am somehow linked to or benefit from the free stock charts dot com web site.

[Robert Joyce]

MCM, I appreciate you comments and I understand all that. I am a day trader and I look to place 3 to 5 trades a day, I do use signals to enter, I do predetermine exit points. I have been trading for 3yrs now, both real and sim mostly and watch the indexes virtually everyday. My recent trading reports are based on real trades and I am simply trying to be honest about what is happening to me as I work through this extreme anxiety I feel when in a trade. But it's not the anxiety so much as the fact I seem to forget everything I know, but not really. It's a 'strange brew' if you ask me and just something I have to work thru. But for example I noticed on Brownsfan's report today on his 6E trades the last two were sure not exited at any predetermined profit. One was long one was short at virtually the same price both were exited very close to even... something was going on there and I don't think it was mechanical execution. I also talked to a broker today who admitted that the 'emotional' element is and has to be an integral part of all trades, the mastery comes in how you deal with it. Kind of like you have to trade through it. Anyways as I said I am really trying to be honest more for myself than for the report. But thanks again for your comments.

[MCM]

Couldnt agree more - it is about working through the process on your own. your posts always have a nice amount of thought processes you are going through during the day/trades - which I ring very familiar to me.


I really didnt want to come off in my previous post like some jack*** know it all...I am far from it - adleast the "know it all part" - as for the jack*** part, my wife would probably think I own some of it! So please accept my apologies if it came off in any way like that. My prose stinks...Im gonna shut my yap now! (3 posts in one day...the board has suffered enough)

[thalestrader]

Originally Posted by Robert Joyce »

I am simply trying to be honest about what is happening to me as I work through this extreme anxiety I feel when in a trade.

"There is CALMNESS before, during, and after the trade." - Richard Wyckoff

If only it were as easy to implement as it is to read.

Best Wishes,

Thales

[Soultrader]

Sloppy trading today... sent a order to buy while trying to move my stop resulting in covering my short way to fast. Uncanceled bracket order gets hit resulting in a loss, etc...

1 trade made up for all my profits today. (last trade on my pnl list) All shorts btw. Only traded 2 hours today as I was out the entire afternoon.

[bathrobe]

Originally Posted by thalestrader »

Hi brownsfan,



2) I monitor the 10-12 biggest gainers and losers on a percentage basis. I use the biggest gainers for long candidates and biggest losers for short candidates.



Thales

Thales,
This is probably a stupid question but I am operating under the "no question is stupid" rule. I have never day traded stocks, so when you are looking for biggest gainers, is that on an intra-day basis or biggest gainers in the recent past?

Thanks
Chris