Just a quick scalp.
Execution detail:
nice lil bottom pick scalp!
Lol, thanks man! I'm still trading very small until I achieve consistency, but I have found my initial "bread and butter" trader which is going long strong names that are over extended from their 5min 20 moving average to the downside. Basically wait until the downtrend breaks, and go long with stop on LOD.
BTFD!!! been a pretty decent strategy in this QE mkt over last 10 yrs lol.
I do like that you wait for the downside trend to reverse ( ie waiting for backside/rightside of trade) bc there is the occasional day that these very strong names put in just NASTY trend down reversal days after accumulating so much hot air from going straight up. I call them "tech wreck" days and bottom picking on those days can be very costly, something I know from experience.
Dude, tell me about it. Like NKE on earnings day. I thought, let me buy the dip, and sell the bounce.... But the bounce just never came lol. Had to add new rule of 3x tries, and move on.
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nice lil bottom pick scalp!