Friday, May 24, 2013

Trade The Tape

Ideas and education for those interested in day trading stocks for a living. Blog will cover techniques and strategies using technical analysis and tape reading. Will provide daily commentary on the market and sectors. Trading stocks can enable you to attain your financial and lifestyle dreams. It can be done from anywhere in the world.

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Jeff Davis

Jeff Davis

Professional day trader and mentor for 12 years. Veteran of the proprietary trading world. I have over 30,000 hours behind the screen and have traded both bull and bear markets successfully. Tape reading and short selling intra day are my specialties. My passion for trading has spilled over into my mentoring and blogging.

Posted by on in Stock Trading Today

Just because you know how to use Google search and have a gmail account doesn't mean you should try and trade the stock today. GOOG is a ticker symbol best left to the pro's because thats who you will trading against if you venture into that name today. Day trading requires you to find a stock being moved but it has to fit your skill level or bad things happen to your account. You may get lucky the first time you try trading a  stock that trades with a wide spread and thin, but it will bite you sooner rather than later if your trading skills don't fit the volatility. Today I will be looking for profit taking to maybe set it. A great course of action is to let an opening range set in the market(first 30 minutes) and look for stocks breaking to new lows if the SPY is red. If the SPY can trade and hold below 131 it should find a way to test the 130.50 level rather quickly. INTC is trading up this morning on earnings but always seems to find a way to drift lower as the day goes on. Good luck trading today.

Jeff Davis                 Follow me on twitter @Shaq48_Trading     

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Disclaimer

There is substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Each investor must consider whether this is a suitable investment.

Trades or trade recommendations made on this site have not been made by Georgia Anderson.

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