Stock patterns for day trading reading notes

Written by Keith McDonnell. Last updated on Sunday, March 03, 2013.

= Questions

What are the statistical indicators that your model isn’t working now,

What time frames can you use to validate an identified trend (2,5, 15 min) ?

= Action points

Calulate your “go home” loss for the day (kanban: stop the line)

= Notes

Never lose more than X ($650)
Only trade at a time
Cherry pick only the best trades
Dont risk more than 0.125% loss per trade
Lock in your profits
If you have 4 losses in a row – stop trading
Be quick to take profit while momentum is in your favour
Trading is 90% mental discipline

Support & Resistance refer to areas on a chart that have halted past price

Congestions / sideways:


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