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More rambling thoughts from a short term trader that might be relevant to those who want to trade short term. It started with a post from [USER=4670]@barney[/USER] about the company SPT. I looked at the chart and noticed the huge bullish bar five days ago that was also a 1st BB on my charts. Yes, I'd seen this 1stBB but ignored it as it didn't comply with my 1stBB checklist. I dismissed it in seconds because it didn't fit with the strategy that I was using when I was looking through the 1stBB scan results.


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Another person with a different strategy may have thought there was a great opportunity for a short term trade in SPT after seeing the huge bullish bar (30/8/19). This person may use a strategy that looks for obvious insto buying and anticipates that there may be some follow through immediately or in the next few days. The huge volume bullish bar would have come up in their scan results and they would have a few tactics to get into this trade opportunity.


One of my core beliefs as a short term trader is that there are an unlimited number of opportunities every day. My job is to find them and trade them using a plan. Some people like prospecting for gold, some look for truffles and some look for the next big wave. I like looking for the next trade.


I know there are lots of us out there looking for the next trade. Well, you're not going to find it without having a specific strategy in mind. It's almost impossible to look through the charts with multiple strategies in your head. Do I trade this break-out or this pull-back or this 1st BB or this huge gap up?  We've got to clear the mechanism. (Know which movie this came from?)


This is another reminder to specialise. Master one strategy at a time. I started with break-outs of Darvas boxes.  If you want to learn how trade huge volume days please ask because ASF has these specialists available.


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