The volume is light today. \u00a0This was expected the day before Thanksgiving. \u00a0For those of us who made it into work we need a game plan for these lighter volume sessions. \u00a0There is some money to be made but there is more money to be lost with poor trading decisions. \u00a0Some ideas:<\/p>\n
1) Decrease your tier size. \u00a0If normally 1000 shares is your standard lot size, then reduce this to 500 shares.<\/p>\n
2) Keep your stops tight.<\/p>\n
3) Decrease the shot clock in your head. \u00a0When I make a trade I expect certain things to happen immediately after I enter the trade. \u00a0I expect the stock to start working for me. \u00a0If you do not see this quickly then scratch the trade.<\/p>\n
4) Watch for manipulated stocks. \u00a0During these light volume days those with some money tend to drive up a few stocks. \u00a0You can find a stock that is being marked higher and go along for the ride. \u00a0 These can be excellent trading opportunities for those with advanced momentum trading skills. \u00a0I have traded many successful sessions finding such stocks and crushing them while others were watching TV on their couch. \u00a0Make sure you have a clearly defined exit for these momentum plays and have the trading skills to handle such opportunities.<\/p>\n
5) Trade selectively. \u00a0This is a day only for your A trading set ups. \u00a0Forget your B and C trades.<\/p>\n
6) Take a long lunch. \u00a0The midday is where you are most\u00a0susceptible\u00a0to taking a rip. \u00a0The open will offer you the best opportunity to make money.<\/p>\n
7) Spend time with your family. \u00a0If you need a day off this is a great time to take some extra time and see your family. \u00a0Trading well is difficult if you are not leading a\u00a0fulfilling\u00a0life. \u00a0And some delicious pumpkin pie can’t hurt.<\/p>\n
Enjoy the holiday!<\/p>\n","protected":false},"excerpt":{"rendered":"