Jump to content
Sign in to follow this  
Kasper

Planning your trades

Recommended Posts

Yesterday I had an interesting discussion with a few trading buddies about planning the trades. I was baffled to learn that most of them didn't actually try to predict the move a potential stock in play could make.

I always find at least 2 stocks that I like and, try to predict the move. Basically if it could turn into a nice 1-min ORB if it rejected  a level or a 5-min ORB if it held above a certain level etc.

Let me know how you guys plan out your trades and if it helps to release some of the stress that comes with trading.

Kasper

  • Like 1

Share this post


Link to post
Share on other sites

I do not try to predicted what a stock is going to do, instead I react to what the stock has done. Using your example above, I would find the two stocks and then develop a plan that if the stock rejects "x" level as support with increased "asks" on the level 2, and volume coming in at or above the "Ask" on T&S, then enter at "X" level. 

With this mind set you are no longer predicting, you are reacting to the price action of the stock. 

 Just my thoughts. 

  • Like 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.