Some notes on trading style

I wanted to write a bit about how and why I post my trades on ST. My style is mostly day-trading and very fast-paced. Most of my my trades are placed using buy/sell stops - I wait for price to come to me. In a fast-moving market - I'll just jump in using market orders.

I might trade several instruments a day - EUR, GBP, CL, GC, TF and stocks. Overall, my strategy is to scalp 10-15 ticks at a time for 1 batch on the futures, and let the rest run. I trade in multiples of 2 contracts - minimum 2, and maximum 10. For stocks - it depends on the range and price of the stock, but the concept is similar. Depending on the market (trending, rangebound, counter-trend) - I am more selective with taking profits and may bail out at certain price levels. If a trade does not go my way after a few bars, I may bail out at break/even or small loss/profit.

Sometimes, I do not have time to post the prices that I am trading, or all my trades for that matter. The point is not to have other people go in at the same time and price as me. If any traders are using my calls to enter long/short the market - then I think it is a big mistake. You don't know what my plan is, or my strategy, or even my timeframe. You could be long based on hourly, and I could be short based on 1 minute, and we could both make money.

I use traders comments as confirmation of my signals - if some of my follows are short, and I get a signal to go short (which I will take regardless), then it is just that extra level of confidence. But if I am going long, and some of my strong follows are short, I am not going to switch just because they are - which actually happened today. I was long EUR and couple of excellent traders were short. I held and it ended up being a great winner.

Early last year, I wrote a post here on not blindly entering trades based on Stocktwits traders. The advice I gave back then still holds - even more so, as there many more traders now on ST, and some are truly fantastic follows. But unless you are paying for a subscription to some of these amazing traders, please use your own analysis and rules to enter and exit the market. Please make sure you have a trading plan. Not mine or anyone else on ST.

Good trading!