KurtLoeblich

Hey Lenny! The market open is typically the most volatile for a number of reasons: 1) Any orders that were placed at the varying brokerages over night/after market close are going to be processed once the market opens 2) Any news that could theoretically have an impact on the stocks price will usually come out after the market close or before the market open and decisions are going to be made on it 3) Day Traders/momentum traders typically only trade for the first hour or so and once their volume dries up, it does reduce the overall volatility (least influential by any means but worth mentioning regardless)

Hahaha. I'm so glad you had a good time. Dont worry, your jacket is enroute to you and you'll never have to be cold again!

See everyone on Saturday!

Alright -- you guys asked for it! I'll be doing a Tape Reading Wednesday Workshop in the coming weeks!

I will share your comment with the team.

It's on the first page in the forums. As you get to a certain number of replies, the forum will generate a new page. If you dont get them added, I will do it for ya tomorrow.

Hey All! With the meetup just around the corner, please make sure that you have signed up within the Google Form at the top of the page. I need an accurate headcount for the restaurant 3 days in advance. Thank you, and see you all there!

William says its perfectly okay for you to bring her daughter. Just make sure you update the google doc so I can get a headcount. I need the totals the day before so I can confirm with the restaurant.

Let me ask William and get back to you. This is my first one I've ran so no idea what the expectations are. Hes a pro and would know the answer. Hey guys -- Venue has been selected! Rosalitas Cantina 12796 Manchester Rd, Des Peres, MO 63131 looking forward to seeing you all there!

Me too! Just for an update: I should have the venue selected in the next week or two so make sure everyone checks back! I'll make a post once its been decided.

Momentum trading is trading breakouts/breakdowns and exiting your position as soon as the immediate momentum subsides. Trend trading is longer term trading -- I look to catch as much of the move as possible. A momentum trader rarely holds through pullbacks, and will exit the entire position with the idea that once the pullback ends they might take another stab. They are basically looking to catch the move when volume is flooding in. Momentum traders will often trade countertrend moves on the longer time frame. It's like Andrew says - he can be long a stock and Brian can be short, but as long as they both manage their risk properly, they both can be winners!

Yeah -- 4 days just isnt enough. You need to test strategies for a considerable amount of time before you can determine it gives you an edge in the overall market. For myself, it was 3 months in SIM and then another 3 months live before I realized that I kind of "had it". Keep in mind, even by using someone else's strategies, you'll always need to test them and see if they are successful for YOU.

I think it's safe to say that there will be a lot of various "ah ha" moments as to when it all came together but for me personally, it was recognizing that I'm not very good at momentum trading, and when I changed my course and started focusing on trend trading. I know that, psychologically, I have a very difficult time exiting positions (winners or losers) so I had to develop a strategy that MATCHED that personality. With that in mind, it was going back, reviewing both my winners and losers, studying the charts, and putting everything together that I had learned up to that point together. I think it's very easy as a day trader to become very focused on one key element of trading (strategies, chart patterns, level2/tape, volume, support and resistance, etc) but it's once you put it all together that it all starts to make sense and things start to turn around.

Welcome to the community. You're doing it the right way by starting in SIM! Dont hesitate to reach out if you have any questions. See you in the chat!

Awesome. See you then!