Today the Nasdaq worked through my favorite day-type aka the neutral day. For some reason it didn’t have everyone as riled up as it usually does. Nevertheless, it provided some sweet intraday opportunities for mean revision play.
My day trading is at a stage of discretionary action with mechanical execution. Entries types are planned well in advance. I have 9 now, up from about 5 a few months back. Some are variations of what I have observed the greats do while others are complete brainchildren of my own.
Many times I have been told to create my own trading ideas. It would frustrate me because I simply wanted to be told, “do A + B to earn C”. Anything worth doing is not that simple. Or at the least, it’s only that simple for a short period of time before regulation, arbitrage, or some other force eliminates it.
I am finding my own trade ideas generate the biggest returns per trade. What a blessing!
Swing trading has been a slow earner for me this year but I have managed some good moves. My best performer on the year is another home brewed idea—Sprint. This was based on a giant panel of C-suite banksters nearly all saying to avoid telecoms in 2015. It also had the added essence of the falling wedge chart pattern both Option Addict and I adore.
The same chart pattern the afflicts me with GPRO!…but I digress.
What I am emphasizing on this cold winter afternoon it the importance of thinking for yourself. Embrace your ideas, test them, and reap reward from them. There are few joys better.
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