|What to expect|
|Written by L.A. Little|
|Wednesday, 09 January 2013 07:10|
Everyday I get up with an idea about what to expect from the market that day. I run through the overseas markets; skim the headlines for overnight news; review the key support/resistance zones in light of where the futures are and then I either decide that my thesis from the night before on the day that has become is either correct, needs some modification or should be scrapped. I do it everyday.
It's not that I am day trading - I don't that much anymore. I am scaling in and out of positions and when and where I do that has a lot to do with what the market is doing short term. The positions are longer term but they are traded on two time frames, the short and intermediate term time frames and it is the short term time frame where you do all the work.
Now most brokers are interested in the intermediate and long term time frames. That's easier. There's much less to do. Just put the money in and if it goes up too much take some profits and if it goes down too far, take some losses. Everything in between doesn't require much thought or effort. If the market moves higher he looks like a genius because some will outperform and most will just ride the wave higher.
It's when the market doesn't go up but instead goes down that every hates their broker. Why? Because they are not willing to do the day-to-day work required to stay out of harms way.
That is what I do and what we do at TA Today. If you haven't tried us out, hit the free trial button and see for yourself. Many trading ideas and lots of advice - each and every day.
|Last Updated on Wednesday, 09 January 2013 07:22|