read your excellent post sefty and decided to join the board.
i very rarely use tech analysis(to lazy to learn it i guess)but i feel i need to get to grips with at least the very basics.
nowadays i tend to daytrade/v.short term my shares with good results as long as i stick with this simple plan.
firstly monitor 10-15 big name tech companies e.g. Baltimore,Psion,Marconi etc.make sure you have a good idea where you think their support levels are(www.investtech.com is a good site for people who don't have the use of analysis software,Sukhi,they basicaly do it all for you.)find out if the stocks are about to release results or had a profit warning etc.
now this is the simple bit,wait until the Nasdaq opens and at around 16:00 decide if it's sustaining it's strong opening,if so buy one of your monitored stocks which has dropped to it's support level(or near abouts).never buy the next morning because the spread will be a killer and if you've got a number of stocks to choose from go for the one with the results due.Simple eh!
if the Nasdaq has continued to be strong till the closing bell then over night the MM's should have been at work,the share should open higher and continue to rise through public buying for the first hour or so,that's when you sell and cash in.around about £5000+ is what you need to get started.
you must not jump in,like i have done in the past,thinking a stock wouldn't go any lower only to find a number of bad Nasdaq days dragging it down further(MONI at the moment).there are some big profits to be made soon,when the Nas rallies.use these simple rules,do not stray and enjoy the ride.
i very rarely use tech analysis(to lazy to learn it i guess)but i feel i need to get to grips with at least the very basics.
nowadays i tend to daytrade/v.short term my shares with good results as long as i stick with this simple plan.
firstly monitor 10-15 big name tech companies e.g. Baltimore,Psion,Marconi etc.make sure you have a good idea where you think their support levels are(www.investtech.com is a good site for people who don't have the use of analysis software,Sukhi,they basicaly do it all for you.)find out if the stocks are about to release results or had a profit warning etc.
now this is the simple bit,wait until the Nasdaq opens and at around 16:00 decide if it's sustaining it's strong opening,if so buy one of your monitored stocks which has dropped to it's support level(or near abouts).never buy the next morning because the spread will be a killer and if you've got a number of stocks to choose from go for the one with the results due.Simple eh!
if the Nasdaq has continued to be strong till the closing bell then over night the MM's should have been at work,the share should open higher and continue to rise through public buying for the first hour or so,that's when you sell and cash in.around about £5000+ is what you need to get started.
you must not jump in,like i have done in the past,thinking a stock wouldn't go any lower only to find a number of bad Nasdaq days dragging it down further(MONI at the moment).there are some big profits to be made soon,when the Nas rallies.use these simple rules,do not stray and enjoy the ride.
