"Jens, I almost gave up but thanks to your ebook and training I am now averaging $4000 plus per week. I never thought trading could be this easy! I can't understand why nobody wrote a book like this before!"
Dave M., Nevada
Have a look at my book now and see how it will help you also!
A typical trading day: scalping and taking breaks
by Jens Clever
Copyright 2003
Stop orders
For longer term trades I strongly advise using automated stops for your protection. They have two advantages:
- You don’t have to watch the stock all the time.
- They automate your exit decision, which leaves less room for failure.
Please be careful though with stop orders, and study your brokers order guide carefully. Some stop orders are only saved on your computer; if you lose your Internet connection or your computer crashes your order wont be send out anymore and you are not protected.
The "Slow" part of the day
The slowest part of the day trader's day is generally 11:30AM- 1:30PM, when the overall volume of trades is usually very low.
A well-known general rule is that a day trader should not trade during these hours, since moves are more random and less predictable. However, I find many interesting and often very strong moves during this period and therefore I don’t agree anymore with this “old” day trading wisdom.
This is especially true, if there wasn’t much movement in the first trading hours. If the first hours were slow, then the day trader will often see strong moves over noon. If the first hours were very volatile, then lunch-hours are most likely very slow. (More articles on day trading.)