Continued intraday trading on AMD. Today I only short selleing the stock three times. There were false breakouts and forced me to closed positions. However, overall still gain small profits from the trade.
Continued intraday trading on AMD. Today I only short selleing the stock three times. There were false breakouts and forced me to closed positions. However, overall still gain small profits from the trade.
I used to trade stocks based on technical analysis by studying daily and weekly charts. I never trade intraday before. However, lately stock market is having large swing everyday due to corona virus crisis, it is not wise to keep the money in the market overnight or even over weekends. So recently I try to do intraday trading using technical analysis.
Here are my criteria in stock selection:
1) Listed in S&P 500.
2) Must be high volume for better liquidity
3) Target to profit USD100 per trade. Open and close the trade with 100 shares and hopefully candlestick movement above USD1.00.
4) Stock price above USD20 (the stock price might not move up or down enough if price is too low) and below USD80 (based on my account size).
With the above conditions, I have selected AMD as my first daytrading candidate.
I continued to perform intraday trading on AMD. This time I make some mistakes at the early market session. However, the trend went my direction and I was able to close the position with smaller profit.