I only trade stocks listed on NYSE, AMEX and NASDAQ. I do not trade currencies, commodities or futures because my competition (the person on the other side of my trade) is smarter, has deeper pockets, and is better connected than I. I trade stocks because my competition is generally a weak, gut trading and Cramer watching male trader.
I trade in three time frames: Long Term (LT, holding positions from weeks to months), Short Term (ST, holding positions from days to a week) and Intraday (holding positions from minutes to hours.
Long Term: I use all savings that I would not need for at least 5 years, unless in an emergency. This is long term money, e.g., IRA's, savings, UTMA's, etc. I use RTS exclusively to manage my long term money.
Short Term: My short term trading is exclusively selling out of the money puts and calls on stocks with weekly options.
Intraday: I am a contrarian trader intraday. I monitor about 4000 stocks and look for panic selling and frenzy buying. I buy what is panic sold and short what is frenzy bought. I look for a bounce to in my long position to close them, and I look for a drop in my short positions to close them. I never hold any intraday day position over night. Depending on the day and market, I am usually managing 5 to 50 positions intraday. I open and close my positions with a dynamic tracking system, similar to a trailing stoploss.
I trade in three time frames: Long Term (LT, holding positions from weeks to months), Short Term (ST, holding positions from days to a week) and Intraday (holding positions from minutes to hours.
Long Term: I use all savings that I would not need for at least 5 years, unless in an emergency. This is long term money, e.g., IRA's, savings, UTMA's, etc. I use RTS exclusively to manage my long term money.
Short Term: My short term trading is exclusively selling out of the money puts and calls on stocks with weekly options.
Intraday: I am a contrarian trader intraday. I monitor about 4000 stocks and look for panic selling and frenzy buying. I buy what is panic sold and short what is frenzy bought. I look for a bounce to in my long position to close them, and I look for a drop in my short positions to close them. I never hold any intraday day position over night. Depending on the day and market, I am usually managing 5 to 50 positions intraday. I open and close my positions with a dynamic tracking system, similar to a trailing stoploss.
