Tradman
- 14 Oct 2003 15:26
Good afternoon everyone!
I'm new to spread betting and trying to create a plan for day and short term trading.
Below are the rules I am endevouring to trade with but with mixed results.
I would be grateful for any help or comments.
1. Check whether NY stock market was rising or falling on previous day.
2. Check whether UK market/s are rising or falling - particularly market you are trading in.
3. Pick stocks trending upwards to go long - and downwards to go short.
4. Try to find stocks with prices moving firmly in one direction.
5. Check trade buys to see if the stock has liquidity - some stocks rarely trade big volumes.
6. Buy stocks trading with rising volume.
7. Look for stocks with low spreads.
8. Avoid selling on Fridays - people often unload shares before the weekend and price goes down.
9. Check if there is a best time of day to buy and sell.
10. Unless there is a good reason, buy after 10am when the spread is often lower.
11. Watch out for volatile shares - you can loose big time with a low share price and high volatility!
12. Decide a percentage profit sell price and stick to it.
13. Don't chase shares down to try and achieve a profit - sell and look for a new prospect.
14. Don't buy every day - if there's not a good prospect wait until one comes along.
15. Check news to see if anything may affect the price.
16. Trade in the direction of the market.
Sorry this is so long!
pericles
- 03 Nov 2003 11:22
- 35 of 35
Stopped ou at 4333 for -38. Obviously not wise to open futs fri eve. think I"ll lurk on Crocs thread f.t.b. P.