I am bullish long term and my trading reflects this, unfortunately the current market is so choppy and gaps up and down every other day that I am spinning my wheels (and capital )...So I was wondering if anyone was going long and doing well right now ?
============== Rfriend,HI; yes, but metals may medium & long term UPTREND trend better than SPY, not a prediction. QQQ & SPY are HI priced ; sure they are long /med term up TREND,uptrending in a seasonal bullish bias[6 mo, 12 mo 120 mo................................................................... So even with a battle tested bullish bias on QQQ for NOV, maybe DEC;why buy HI, unless a little, little bit long term scale in?????
Those who are beginning to trade could consider only trading one direction at first. For many neuroscience based reasons, only trading long may be helpful. Go to Behavioral Finance home page to consider how improving trading works. It also works for beginning trading.
What is your trading time frame and your average hold time for trades? If you're a day trader you can be making money both directions. Even through the downdraft of the past 4 trading days, there have been plenty of profitable long intraday setups. But if I were a bullish swing trader, I'd be sitting on my hands after 10/11's action (lower low printed following a lower high).
I've had a decent month with equities. There are good trades to be had, although not frequently. As I hold trades till EOD then go flat, gaps are only an issue for me in terms of my system selecting candidates each morning. Pick your points carefully, be selective, and don't get impatient. Even one good trade a week will pay your rent. Good long trades this month: PSSI on 3 Oct RGR on 5 Oct CLMT on 10 Oct VRTX on 12 Oct ERX on 22 Oct NUS on 24 Oct
For swing traders, earnings are a crapshoot. Also, many are lowering guidance which is not good for appreciation of SP.
To make use of the december christmas rally, BUY NOW. You got no time to lose. Buy the dips. Free money. Jesse Livermore: it's a bull market ya know.
Yes , I'm making , trading penny stocks. In and out trading is just stupid , don't listen what these promoters tell you on this board. IB < cheap commissions , will never make you money>
Trading time frame is intra day for 90% of trades, with occasional multi day swing trades..these gap downs and churning markets have been rough on the overnight positions..