It is my strong opinion that the vast majority of intraday day-tradable patterns are initiated at or very close to the opening of trading and that the close analysis of the first 15 to 30 minutes of pattern and related volume development is key to recognizing what stocks may be excellent day trades or at least strong early scalp play possibilities. Also, an early indicator to pay close attention to is Worden Brothers Volume Buzz. We’ll also look at the need to early on create a focus list.
■ Developing a Disciplined, Organized, Focused Approach
First and foremost, none of what you may learn from this book will do you much good unless you are able to maintain a disciplined, organized, and focused approach to be able to benefit financially from what you have absorbed. Over the more than 45 years I’ve been trading and especially since I started thetechtrader.com in 2001, I’ve noticed that my trading skills and more successful trading record have been greatly enhanced since I evolved my trading style into a more focused and disciplined approach. This was necessary due to the many subscribers to my service that rely on me for accurate technical advice. Because of this, I’ve been able to offer a more attractive and effective service.
It’s my observation, especially since I started my trading advice site, thetechtrader.com, that the most successful traders appear to be the most organized and focused among my many subscribers. In addition, ...