NVDA gapped down and cratered on the open on news that it had received a subpoena related to a federal investigation into potential antitrust violations. After an hour of selling, it bounced off of support and rallied back up to its OR low which lined up nicely with yesterday's low and the downsloping 10 and 20 MAs. After tagging its 20/200 MAs, it reversed and presented a low risk, dummy short entry. I covered 50% as price approached the morning low and covered the balance into the close.
3 comments:
Thanks NoGreedNoFear and likewise on the SBH trade.
Right now I'm trading from my 9 to 5 day job. A few years ago I traded with a prop firm, but they were focused on small caps under $5.00 and I was just finding it too slow.
And you, have you traded with any prop firms? Do you know of any good ones in Montreal?
The prop firm I was with was SJJ Capital. They are financed by a rich guy from New York and their offices are located on St. Catherine between Drummond and Stanley. However, they are very cheap and it takes forever before they give you the kind of capital required to make a living from it. Basically, they concentrate on level II screens and they scalp all day long. Not recommended for serious day traders like yourself.
I'm in the same situation at work as you were. Basically I decided to take a six month contract back in May because I felt the market was going to go into a summer doldrum phase and I always find this type of trading environment to be boring. However, it turned out to be quite the opposite. My contract is over but they've asked me to stay on a little bit longer. I wouldn't feel right about leaving them in the lurch just when year-end is coming around but I am anxious to get back to regular day trading.
I don't post all of my trades. I try to post trades that have some training value for new traders and myself.
The one good thing about trading from work, is that I try to limit my trades to 1-3 high quality setups per day. That's something I had a lot of difficulty controlling when I traded from home.
Thanks and hope you a very profitable week too!
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