What a Successful Trader Would Never Do

via SMB Capital – Day Trading Blog:

Mike,

This was kind of a mixed week.

Good.

1. I find the 2nd day trade makes the most sense to me. I pick the strongest stock of the day and then find two levels of support and outline my entry price, stop price, target, and size. So far so good.

2. I also found that I don’t pay as much attention to the offers as I paid to the bids. This was my working goal for the week.

3. And I changed my chart layout to have more perspective of the price. I added a 5-day/30-min chart.

Bad.

1. At the last hours of Friday a took four trades that erased the profit of the week only because I saw the stock on Steve Spencer’s monitor: Read more [...]

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SMB Capital – Day Trading Blog

What a Successful Trader Would Never Do

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