So, after watching, reading, more watching and more reading I am ready to get behind the wheels. I will post my trades on chart as well as my thought process behind the trades. Please give your comments constructive as well as destructive. I am a tough nut mentally and can filter out the constructive part of destructive comments too. As few things to start with.
1> How important are stop loss? I mean if you are actively looking at the real time 1 min chart and have your cursor on the market (sell/buy) ready to click and number of shares already filled in. If I am going to bathroom, I do put stop loss.
2> For adds, do you put limit order or market? If limit, how and when do you know when you will add? I mean when you have bought the first, you wait for stronger confirmation for adds after locking in some profit. So, lets say the bar comes near trend line after posting a higher high. Now do you put add as limit after crossing the high or buy limit at market when the bar touches the trend line. Is this a novice question to ask?
I have done 3 intraday trades in before as 4th one would have triggered the day trader signal to the brokerage firm .
1> How important are stop loss? I mean if you are actively looking at the real time 1 min chart and have your cursor on the market (sell/buy) ready to click and number of shares already filled in. If I am going to bathroom, I do put stop loss.
2> For adds, do you put limit order or market? If limit, how and when do you know when you will add? I mean when you have bought the first, you wait for stronger confirmation for adds after locking in some profit. So, lets say the bar comes near trend line after posting a higher high. Now do you put add as limit after crossing the high or buy limit at market when the bar touches the trend line. Is this a novice question to ask?
I have done 3 intraday trades in before as 4th one would have triggered the day trader signal to the brokerage firm .