March Madness continues...

I could not actually place any trades today...well I could have used the web based order entry but it is so cumbersome I would not want to use it for daytrading. I am waiting for my platform to be re-established under the Pro version. Little wrinkle there.

So in the interest of playing I did some fake trading to just try out a cute early morning strategy.

I figured today was going to be mostly range bound, at least for gold, so I tracked opposing trades in the Horizons BetaPro Global Gold ETFs, bull and bear.

I should mention that I have my RRSP account transferred and accessable so I am no longer restricted to a single trade at any given time...although I have to be a bit careful which trades I make in my TFSA I still want to concentrate on growing it first.

So entering the respective ETF trade based on resistance and support established off the start had me in three trades for some small gains overall. Probably not the best method but I was still playing.

The proper trades would have been in the financial market as that is where the strength was this morning. I entered BNS late as I waited for a nice convergence of SMAs and a pivot point and netted a decent 40 cent move. Ideally I would have been watching this earlier as I saw the strength early on due to now having a page with just my favourite indices and cumulative tick charts. I would have no qualms about entering a small position early based on the indications in the market.

I am going to like working with esignals.

All this boils down to me deciding, or realizing, that while my previous strategies would work, the real comfortable trading is based more on leading information rather than the price of the moment. I now have easy access to some decent information streams to put the information where I need it, when I need it. I will play with putting some of my new charts up, they may not be as pretty as the stockcharts but they are certainly more flexible and better for the live workings.

I am done for today and I have little to do for trading over the weekend other than a bit of reading so I will most likely be back on Monday for some real, and perhaps more serious, trading.

Jeff.