paint dry is not that kind of system, it's basically just a 401K
non-trader, that says we are still in a bull market, or no we
are possibly starting a bear market get to safety kind of thing,
better than buy and hold forever and simply riding bear market's
down - the market stair steps higher over the long term, but
attempts to take the down steps out
as far as those of you who work busy day jobs or too busy one
thing I used to do in the past, and still do from time to time, is
set buy stop limit's on long positions. If a stock has a
breakout at 50, maybe I set a buy stop limit at 50.01 - 50.05 or
.1, depends on the spread. Stocks that trade with penny
spread you can set your buy stop and limit very tight, for others
you need to widen it some. You need the limit because
sometimes our long ideas might gap way over the resistance on some
news etc and you don't want to chase and get bad fills, so that's
where the limit comes in. Again this is not as ideal as being
able to set alerts and look at it before you enter, but it's one
way if you can't do that. Also I suggest being pickier about
the setups, if there's 10 setups, try to pick the best 3 - 5, I
know that's subjective but again that's just trading, however over
time after looking at enough charts you get a feel for charts that
stand out
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paint dry is not that
Alerts vs Buy Stop orders for entries?Great video on position ...
Posted by matt on 12th of Mar 2018 at 01:57 pm
paint dry is not that kind of system, it's basically just a 401K non-trader, that says we are still in a bull market, or no we are possibly starting a bear market get to safety kind of thing, better than buy and hold forever and simply riding bear market's down - the market stair steps higher over the long term, but attempts to take the down steps out
as far as those of you who work busy day jobs or too busy one thing I used to do in the past, and still do from time to time, is set buy stop limit's on long positions. If a stock has a breakout at 50, maybe I set a buy stop limit at 50.01 - 50.05 or .1, depends on the spread. Stocks that trade with penny spread you can set your buy stop and limit very tight, for others you need to widen it some. You need the limit because sometimes our long ideas might gap way over the resistance on some news etc and you don't want to chase and get bad fills, so that's where the limit comes in. Again this is not as ideal as being able to set alerts and look at it before you enter, but it's one way if you can't do that. Also I suggest being pickier about the setups, if there's 10 setups, try to pick the best 3 - 5, I know that's subjective but again that's just trading, however over time after looking at enough charts you get a feel for charts that stand out