Mon Nov 25 11:30:00 UTC 2024: **Experienced Trader Adjusts Strategy, Emphasizes Patience in Stock Day Trading**
NEW YORK, NY – Veteran trader Cory, known for his stock and forex trading education and analysis through TradeThatSwing, recently revealed a refined approach to his day trading strategy, emphasizing patience and the “mastery of the hold.” Cory, a professional trader since 2005, shared insights into his adapted methods, which now incorporate holding trades longer to capture bigger gains.
His new approach involves a later trading start time (9:30-9:45 am Eastern), allowing for pre-market preparation and leveraging potential pullbacks around 9:45 am. He scans for high-momentum stocks the evening before, creating a watchlist of eight potential trades. He utilizes a 2-minute chart for cleaner visuals and employs the VWAP (Volume Weighted Average Price) indicator to inform early-session entry decisions (long above VWAP, short below).
Cory detailed two recent trades, highlighting his focus on patience. One trade in IONQ involved holding through extended periods of sideways movement, ultimately resulting in a profitable exit. Another trade in RCAT, identified through a morning scan, demonstrated successful entry and holding after a pullback.
Key elements of his “hold” strategy include: pre-defined exit rules based on trailing stops, unexpected pullbacks, volume spikes, resistance/support levels, prolonged stagnation, and slowing price action after strong upward movements. Cory shared his personal checklist of exit scenarios to help maintain discipline and avoid emotional decision-making.
While Cory continues to offer shorter-term trades, his refined approach seeks to balance his existing successful strategies with the potential for significantly larger returns by holding positions for longer durations. He plans to integrate video instruction on these “hold” trades into his Price Action Stock Day Trading Course. He emphasized that trading involves substantial risk and is not offering financial advice.
First Piper 