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Post by humann on Jan 22, 2016 11:45:24 GMT -5
I'm curious if anyone here is day trading MNKD, with the 10+% swings, seemingly every day, I'm feeling like I'm missing and opportunity to recoup some losses, but I've never actually done any day trading. Would like to hear more experienced folks' thoughts.
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Deleted
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Post by Deleted on Jan 22, 2016 11:47:10 GMT -5
Ive always traded positions in MNKD. Unfortunately all the profits I have ever made I re-invested back into MNKD
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Post by otherottawaguy on Jan 22, 2016 14:56:17 GMT -5
I like to watch the RSI on a one day basis. Anytime it gets above 70 I am interested in selling my trading shares. I look to buy back when RSI drops below 30. Like to trade in 5k blocks and look to get in on a 1-3% swing.
Lately you can see what direction it looks like the day is going to take by watching the action into the1030-1100h. If its way down, they have telegraphed how far they can take it. It will usually recover somewhat by 1200h and this is when I start getting interested in selling if it creeps above RSI of 70, very interested if it above 80.
It will then slowly start to get walked down, depending on how lucky I am feeling and if it gets clos to an RSI around 30, I will either buy back my original position or take them back with what I call the "Freebies" if I fully reinvest the proceeds.
This process can also be reversed when it pops in the morning and calms back down and then climbs towards the close. Tends to work best in declining markets and I don't usually play when its climbing.
Additionally, I never play in the first or last 15min of play as you are usually locked into what is on offer. I haven't been able to do this recently due to work commitments, but have whished that I could have had the time.
OOG
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Post by bioexec25 on Jan 22, 2016 15:25:02 GMT -5
Thanks OOG, very helpful. I had not been watching the RSI all that closely.
Albeit in an overall climb mrkt today, the rsi is 34 and change even after the pop.
I assume that is fairly real-time.
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