Friday, April 26, 2013

Pivot Play 26 April 2013

I am starting to look at different strategies that I could use if I wanted to start day trading.  My life as a SW manager may be coming to an end, and I am looking for other opportunities.  With that, I watched the S&P today and put the pivot points on the chart.  After the first half hour, the price crossed R1.  Opportunity to short it.  When it crossed the pivot, sell half the order and move stop between R1 and Pivot Point with a target of S1.  After it hits S1 reverse the trade and go long, once again sell half at the pivot point and let the stock run to the target at R1.  This is a very classic chart.  I don't believe all will be like it, but I am going to watch it every day for a month to see if I could be successful with this strategy. 

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