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October 16th, 2009 at 12:34 pm
Pvipul – Yeah would definitely buy if it got into this range. Unfortunately, C has not hit our range of buying. If you bought at 4.69 or 4.68…congrats. I can’t really change the range once I have locked it in writing.
Liminal – Sorry for not getting back to you earlier. What we want to do is to figure out what you are happy with in gains. Daytrading is all about knowing how much you want. In my case, I look to make 2-3% per day everyday. Its not much in the short term yet if consistent can be a lot. If you make any money…you are making money. Its never bad to be conservative. Yet, we don’t want to be conservative based on emotions. Puling out at 12.30 would be good for me because I got in at 12.10. I think if a couple hours in you have seen such a small range of movement in the whole market, then its probably okay to be happy with just 1%. On the other hand, if you are looking for 2%, I would hold until you get there or the day is over. That is how I play, typically.