Evening comments...

Well, more than just the day.

I am still in search of the trading style and method that are right for me and my style... or personality if you will. I have run a wide gambit of methods and strategies, almost all have been brain farts of my own mixed with some of what I have read along the way. At this point it is hard to tell the difference as I have read so much and tried so many things. Suffice it to say I am getting quite a lesson in variety.

I look at the latest strategy for day trading using the TICK as a primary tool along with pivot points, daily OHLC, monthly pivot points, moving averages, sector trends... and I am sure a few other tings. Each of these parts has been used to study price patterns in the various stocks and ETFs that I have played with in an effort to get familiar with each and how they interact with those that I already am reasonably familiar with.

Luckily, or perhaps unluckily, I have a bit of a passion for this sort of thing. Not only does it keep my mind working on interesting stuff but it has the potential to net some nice returns.

I am seeing some strong potential in this latest method. The absolute dollar returns possibility is not as great as some other strategies that I have formulated in the past, but I could not get comfortable enough with them to let them work to their full potential. I felt restless once I established that they could work and then tried tweaking until they would no longer work and moved on to something else.

This method feels more comfortable. I can drop in to trade at anytime during the day, see the established pattern and trade as much or as little as I like without having to see the open, follow every tick along the way. It does not look like a huge money maker off the bat, but that really has never been the point. I can up the position size if I so choose to increase the profits rather than having to work harder at making the trades work. Exits are by manually moved stops which leaves me the safety factor of being able to walk away from a trade if I need to and not have to be overly concerned that I may loose more than I already allowed for.

I may take a couple of day to let this soak in and get some other thing completed that I would like to before jumping into this with both feet. The volume in the market is dropping off apparently due to the pending long weekend so trading may not be quite as normal as it has been...although that might be the best time to try this particular strategy out.

The next step is seeing how this may be incorporated into a longer term strategy. I have some ideas but I have no idea if they are anywhere near realistic.

Jeff.