Learning to Snipe

First of all, I am no pro, but I am learning how to earn a living by picking the low fruit from the tree. I am going to walk you through a trade I placed this morning. I hope this will help some of you who are trying to learn how to trade small charts. I am struggling as I use big charts, but I have a style that works right now, so I will continue to practice off big charts.

Ok- I traded NFLX. It is one of my expert stocks. As most of you know, I trade off the 13. I use this chart as my bread and butter. I will sometimes snipe a trade and never care what the 55 says. I can sometimes snipe from the 13 as long as I am thrusting through resistance or support, breaking previous day's high (calls), market going in my direction, MF in my direction, and ADX in my direction, and the "E" formed.

Take a look at what happened with NFLX at around 10:20AM. It broke through resistance (real body high at (9:30). So took a sizable position at 10:20ish, only looking to ride momentum. All the indicators I mentioned above were in alignment. I knew there would be reservations during the first 1 hour or so of market open based on the threat of war. I also knew I did not want to stay in a position long because I am not as well versed on what is going on with this threat on war as I should be (my lack of studying). I knew I wanted a crumb. I bought calls at 10:20ish AM at 287.45 and sold at 11:00 for 290.55. I am buying much larger positions now, so this $3 move served me very well financially. My golden rule is, win or lose, once I sell a position, I close up shop for the day. I am finish for the day with the stock market. I will look at it tonight and set up possible trades for tomorrow.

My humble suggestion is, find what works well for YOU and your personality. Fine tune it, fine tune it, fine tune it. Once you have massaged and molded it, it is yours for the duration of your life. It takes work and time, but it is worth it.
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When trading off small charts, you need to know how your stock responds to the broad market. If you have not watched how it responds to the broad market, you are setting yourself up for failure.
You must have indicators that have been tested. In some of my previous posts, I talk about finding "gold nuggets". I have nuggets that work well together because I have tested them. Honestly, I have two combinations that when all aligned, they work EVERY SINGLE TIME! YES, EVERY SINGLE TIME! It takes work, work, work to discover those. When you are broke, and you get sick and tired of being sick and tired, you will find those nuggets. They are there. Some of you are closer than you think to finding one. All you need is one. I recall spending hours, and hours, and hours, trying to discover specific consistencies. I took several months of hard, grinding work, but I found them. I was awakened at 2:30 AM, by thoughts of process and approaches that I overlooked. I jumped up, cranked up the computer, and started testing. It worked, 10 time in a row, 20 times in a row, 30 times in a row, 40, 50, 60...... I was like Yipee! Yipeee! I found it, I found it! I could not go back to sleep and had to work that day. I was so hyped up until, I could not contain myself all day. Sorry to offend, but GOD IS GOOD! Just so you know, those "Iron Clad" processes show up about 3 times a week within my 5 expert stocks. There are several people who read the posts, but choose to never respond or comment. Several of them followed Gary's processes, and have found their "Golden Nuggets". I have always wondered why Gary would say, "I make money as easy as I breath". Hmmmmm...... This is why! He has nuggets stacked on top of nuggets.

I think too many people over complicate trading. Just find a few stock and process that work for you. I do not know anything about most of the stuff that people talk about in trading. I do not have all the terminology. I do not sound very sharp when people talk to me about trading. I just had someone state to me, "I shorted AAPL, and I think you should do the same". He might be right, but I have rules. I have exited my trade, made a chunk of change (my perception), so I am OUT! I have lost my shirt by going back into trades. My little laptop is shut down and back in my car. I am sure AAPL might go in his direction, but that is based on his research and not mine.

Trading is something that you start to "feel". When you start to feel that trade as you see your process forming, you just know it is going in your direction. For me, I have probably practiced the equivalency of people who have traded for 8 or 10 years.

Those of you who PM'ed me, I will definately respond. Just give me a day or so. I have a few to respond too. I want to make sure I answer your question and or help you with what I can. As always, I appreciate the opportunities to communicate with those who trained under the same concepts as I have. There are not many of us out there, so we have to help each other reach our goals.

Sniper Trading......
Take one stock and take a quick look at this. Lets use AMZN. Pull up your 13 chart. Take a look EVERYDAY at the time frame from 9:30-11:30. What do you see? The stock moves considerably one direction or the other during that window of time about 90% of the time. That movement is my "SWEET SPOT". All I do is use indicators and a little art to catch that move almost everyday. I get out with 10% or more. 10% of 5 to 10K is $500 to $1000 a day. I have 4 that move alot-similar to AMZN, so I see a trade literally about everyday. Stay motivated, If you like the idea of trading off small charts, absorb the information I am giving. The light is flickering. OK-I am done for awhile. I have "hogged" this forum, but sometimes it is important to help keep folks motivated. We all lose hope and feel we will never do this.

I felt unintelligent and plain dumb! When I tapped into my inner strength and discovered there is medication for my disability, I felt invinsible. I always wondered why my 3 boys were so smart- all A students! I knew it was not me because I barely made it through college. My wife says she was a good student in college and grad school, but I saw her college transcripts. Naw- not quite, she is far from being Oprah (Thank god she does not read this stuff).

After taking the pill, I started leaping buidings in a single bound- Da Da Da Da Superman! I started being able to see through charts and candles and developed patience and discipline. But whew! When I forget to take the magic pill, you guys know how I get. My thoughts are random and spacey. I can not sit stationary for 2 minutes, and I am happy, happy, happy! My wife asks me all the time, "Did you take your pill". Whether I did or not, I say, "Yes dear". She will stare at me and say, "Look at me. Look at me! No you did not! You can not even look at me without your eyes dancing in your head". Anyway, today is September 4 and this day marks my 20th anniversary! It is also my oldest son's birthday. He is 19 and not 20. We did not have a "Shotgun Wedding"-lol! I love that woman and hope we have a better life on the other side of 20 years. Because of trading, I can take her to a "Real" restaurant for dinner tonight and not worry about the cost of the meal. I will make sure I load her up with seafood, seafood, seafood. She loves lobster, crab, shrimp and oysters. I am praying this seafood/fish pay dividends. Draw your own conclusions to that one-lol!

I am breaking from the forum for a few days-unless I do not take my meds tomorrow.

Rookie30

Thanks Rookie30 - that was one of the more entertaining posts I have read on this forum...and some very good trading information too.

Always an inspiration, Rookie!

Thanks for the detailed posts.

My meds are Shock Top, Dos Equis, Leinenkugel, Blue Moon and sometimes Bud Light. lol

OH MY MY MY...... I HAVE A NEW FOUND RESPECT FOR SEAFOOD!

I hope you are trading well.

Rookie30