Trading Opportunities with Premarket Scan

[johntherevelato]

Re: http://www.esignaluniversity.com/edu.../premarket.asp

With reference to the following point:

12. Checking your list of 15 against Power Scan (the market scanner that keeps track of the best trading opportunities from the opening bell to the close) will often show that, of your 15, an average of 6 will be the best stocks to have traded that day as measured by "Change from Open" on Power Scan.

Does that mean ALL 15 of this list will go on to be profitable throughout the trading day and that 6 of that 15 will be the best opportunities? In other words, open positions with all 15 of these stocks.

[flexnet]

Re: Trading Opportunities with Premarket Scan

Originally posted by johntherevelato
Re: http://www.esignaluniversity.com/edu.../premarket.asp

With reference to the following point:



Does that mean ALL 15 of this list will go on to be profitable throughout the trading day and that 6 of that 15 will be the best opportunities? In other words, open positions with all 15 of these stocks.

No strategy in the world will guarantee any stock will go on to be profitable. If this was even remotely possible, then such an "edge" would be quickly exploited and rendered ineffective in short order.

The most important thing in your trading career is how you handle losses. If you can not handle a LOSS, then do not trade. Most new (and even long time) traders take LOSSES personally. We all do to some degree. YOU WILL TOO.

If a trade goes against you, GET THE HECK OUT OF IT. Show me any winning trader and you'll see someone who controlled the size of his losses.

EVERY SINGLE TRADER HAS LOSES! WITHOUT EXCEPTIONS.

A new trader will have HUGE LOSES and SMALL WINNERS. A sucessful trader will have NICE WINNERS and SMALL LOSES.


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