
My trading rules with respect to trading earnings is only to attempt this with highly liquid, well known names. Min. avg. daily volume of 5 million. I always wait 5 minutes (or more) for the wild price swings to shake out. After the shake out, if the stock is trading above the 10 period EMA on the 5 minute view, I try to go long as close the MA as possible. Vice versa on a short. Trading earnings is very risky because a stock could be trading up on earnings but as the conference call progresses, the dynamics could change. If you are going to trade earnings successfully, you have to have a good system. I learned this the hard way. Hope you can benefit from my experience.
My only other trade today was GILD on a buy stop order above yesterday's high which triggered around 9:45. I took my full profit at 10:00 because I didn't like the way the Qs were acting.
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