Here is the new plan for 2004 which I've come up with after going through the voluminous amount of feedback from readers of the site.
Day trading is a full time job and it requires my attention all morning. Most people have a full time job and have no time to
day trade. My posting throughout the day distracts me from trading and is of no use to most readers who are busy working as dentists
or insurance agents or whatever.
Starting in 2004 I will simply post once an hour the ticker symbols of the stocks I am watching for day trades.
I will not post any charts or explain where I entered, where I placed my stops, etc. during the day.
At the end of the day
I plan to post the charts of what I did trade that day. It will be like a very brief Trading for Dummies lesson. All of this will
My miscellaneous, random, rambling blog entries on topics which interest me will be posted outside of market hours only.
These of course are free (and usually only of interest to me, lol).
Now let's look at the End of Free.
I've decided to post a daily swing trade set-up for the people who like to swing trade, but don't have time to day trade.
There will probably be at least two set-ups a day, and finding out what they are will cost a few bucks. Let me explain how this will work.
There will be no monthly subscriptions since I don't want to have the hassle of setting up usernames and passwords and a secure section
of the site. People can simply PayPal me a few bucks in the morning and I will email them the ticker symbols of the stocks that
have set up for a swing trade. This way people can decide day to day whether or not they want the picks.
Let me walk you through an example of how this will work.
In the morning I will post a chart.
"ALPHA," Daily Chart
LONG play, NYSE-listed stock, around 89 cents of risk (1.15%). Paypal me $X.XX and I will email you the ticker symbol,
entry price, stop-loss price, and target prices. I will give the stock a code name: ALPHA, BRAVO, etc.
During the day if the pick triggers, I will note it on the site, and post updates monitoring the position, using the code name
so only the folks who pay are privy to what I'm talking about.
"ALPHA," 10-minute Chart
If the stock gets to target or gets stopped out I will note it on the site.
"ALPHA," 30-minute Chart
As always, I appreciate your feedback about this idea.
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