{"id":42758,"date":"2015-08-30T04:42:45","date_gmt":"2015-08-30T11:42:45","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=42758"},"modified":"2018-03-25T02:34:53","modified_gmt":"2018-03-25T09:34:53","slug":"why-not-take-late-end-of-day-trades","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/ask-al\/why-not-take-late-end-of-day-trades\/","title":{"rendered":"Ask Al: Why not take late, end of day trades?"},"content":{"rendered":"<h2>BPA trading room Q&amp;A: June 1, 2015<\/h2>\n<p class=\"content-box-green\">Can you comment more about why you were not willing to short during 68 to 74?<\/p>\n<p><em>Video duration: 1min 50sec<\/em><\/p>\n<div style='position:relative;height:0;padding-bottom:56.25%'><iframe class='sproutvideo-player' src='\/\/videos.sproutvideo.com\/embed\/489adfbb1319eeccc0\/adbf64f36edbbc8c?playerTheme=dark&amp;playerColor=' style='position:absolute;width:100%;height:100%;left:0;top:0' frameborder='0' allowfullscreen><\/iframe><\/div>\n<p><\/p>\n<h2>Video transcript<\/h2>\n<h3>Taking those enticing end of day trades<\/h3>\n<p>I did end up taking one short. In general, at the end of the day, I don\u2019t like to trade much at all. In general, I like to trade using wide stops and scaling in &mdash; or at least I like that option, and at the end of the day, I cannot do that. Can I buy below 69 and use a wide stop and scale in? No, I\u2019d lose too much money. Can I sell 74 using a wide stop and scaling in? No. Can I sell a 76, 75? I cannot, right?<\/p>\n<p>So a lot of the trades that I would take at other times earlier in the day I cannot take this late in the day. Also, I\u2019m tired, and I just know, that I\u2019m slower to make up my mind, I\u2019m slower to place my orders; I\u2019m more prone to making mistakes when I place my orders; I tend to forget that I have trades on. So if I take a trade and I start talking, I forget that I have the trade on, so I don\u2019t manage it well.<\/p>\n<p>So, all of those things make it more difficult for me to make money in the final 30 minutes. Usually, the only trades I\u2019ll take are stop entries or occasionally, if the market is breaking out strongly, I\u2019ll take a quick scalp. Sometimes, I\u2019ll pop up the one-minute chart, and if I start to see this series of bear bars closing near the lows, I just sell at the market. I just the \u201cSell Market\u201d button and try to get out with one or two points. Sometimes, if I don\u2019t sell that, I\u2019ll place a limit order to sell the high of that bar, stop above here. That\u2019s more than I\u2019d like to risk this late in the day, especially selling above a bull bar.<\/p>\n<p>But a lot of times, that\u2019s what I do. When I see the market falling quickly, saying, \u201cHuh, that should not be happening,\u201d &mdash; it is happening, and therefore, I can make some money. So usually I just do it at the market. <\/p>\n<p><em>Al Brooks<\/em><\/p>\n<p><a title=\"Al Brooks' trading room\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\">Information on Al&#8217;s Online day trading room<\/a><\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>BPA trading room Q&amp;A: June 1, 2015 Can you comment more about why you were not willing to short during 68 to 74? Video duration: 1min 50sec Video transcript Taking those enticing end of day trades I did end up taking one short. In general, at the end of the day, I don\u2019t like to [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-42758","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/42758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=42758"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/42758\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=42758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=42758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=42758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}