FIRST TIME POST EVER IN HERE!
Sup traders! I've been trading since 2013, equities, indexes. I primarily enter a positions by selling weekly options (except after hours of course) and my primary strategy is fading. I use Tradestation; for charts I use the monthly weekly, daily to assess overall trend and 60, 15, 5min charts for intraday. I close positions back at the median, or close half and let the other half run. Given that the market has pretty much gone up and to the right since 2009 I've gotten accustomed to shorting (price usually takes the elevator down too)
So I guess my question is 2 fold
- who else here prefers to fade?
It seems like majority of posts I read are momentum traders but the way I was taught " buy low, sell high" and anything else was chasing the win.
2) How do you pick your entries?
I quantify oversold/overbought levels with: 6 different Standard deviations and 3 SD levels of VWAP for intraday. I also find support/resistance levels with Moving Averages, diagonal & horizontal Trendlines (highs/lows), and for retracements Fibonacci & Gann Fan.
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- 1 year ago
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