Equities ended up trying to rally by the end of the day yesterday, but couldn’t hold on to the strength this morning and is pushing down. That said, it’s not pushing down too strongly and is quite a ways above the lows of yesterday, so maybe this short momentum is running out
Also, overall, volatility is beginning to increase. The VIX has been pushing up since the beginning of the year and while it’s had some pullbacks it still looks fairly strong. I’ll keep that in mind when looking at options — maybe I’ll look to be a seller this week. Remember – Limit Orders.
GBP/CAD pushed down earlier this morning, but looking at the hourly chart it’s bouncing off of the lower band, and on the daily chart, it’s sitting right on it’s 20MA. This looks like it could push up today — it’s a Bollinger band trade, which I’ve only “theorized” and haven’t yet practiced, but I’m going to put and entry order in here
It’s only 11 and this trade triggered and stopped me out already. My stop was RIGHT on the support level and it just touched it and stopped me out. Maybe I should’ve gone a bit lower, maybe into a non-round number. As of right now, it’s still sitting near that level. I’ll update EOD. Another thing I want to say about this is that I tried to take a full 2% position, but for some reason IB wouldn’t let me. I took 10x less, wondering if it was a calculation problem, or leverage problem in IB, but when I got stopped out, it was only for a $150 loss instead of $1500, so I’m still not sure why I wasn’t able to take the full position there, but supposedly it worked out here
Again, there’s nearly 40 available stocks in my screener, which is overwhelming. I need to figure out a way to get that down to a more manageable number. Hell, even 20 might overwhelm me so I really need to figure something out. Maybe I sort and only look at the top 10, or at least start with the top 10, eliminating the one’s I don’t like quickly and simply continuing down the list.
What constitutes top, though? Do I sort by percentage increase/decrease? Volume increase/decrease? Dollar increase/decrease? Something to think about, but I think I’m ready to essentially be done for the day save for the EOD analysis. I should look at a couple of options, but, again, I’m overwhelmed. I’m going to take a break, use the bathroom and hopefully read some articles and ideally I’ll get the insight/aha moment that I’m looking for