Friday, April 28, 2006

Trade setups based on type of trading day


You may want to switch styles of trading based on what type of trading day your going into. If it's friday, you can expect low volume, and you may have a better chance at trading short term trends on the 5min chart instead of taking scalping on 1 min charts.
Also, be aware of big pending news that could decrease volatility and volume like economic numbers and FOC interest rate announcements. Also be aware of big cap earnings annoucements like MSFT had today, losing 11%, down to $24.15, and trading over 500mil shares for the day with over 100mil during the premarket.

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