Evening trading US shares

I have done much the same thing regarding Level II.

Still doing absolutely fine.

rdstagg, what are those parabolics on that chart you posted. All the parabolics I have looked at seem to flip out on a bit of a spike or move?

MY definition of a parabolic is where the bar goes up very fast, its a wide bar usually (ie abnormal range) - it signifies one of two things to me
Usually accompanied by volume.
1. every one wants to buy or
2. every one needs to buy eg unexpected news/info
the first you can short - the second you can't.

And before you ask no I don't always know the difference! I am NOT at the level of Mr Charts and Naz in terms of experience.

PS if a moderator is reading this - can you explain what the stars mean next to my name? Forget this I have just found out.

Very nice trade rdstagg.

timsk - very accurate.

The stock was on my radar because of its pre-market behaviour and I traded it earlier as mentioned on the other thread.
Sometimes you find they come for these stocks again in the evening and when it broke through the whole number, I went long.
As it approached the next whole number and was rejected from it, I exited at 50.81 - so an excellent assesment, timsk.
Some would say, "what if it had paused and gone up again, wouldn't you have lost out?".
Well no, because had it burst through 51 I would have been long again. In the meantime the profits had been banked again from KOSP - and that is what intra day trading is about for me. Consistency.
The cost of entering and exiting?
A 1c spread and commission of $1/hundred shares for the first 500 and 50c/hundred for more.

This is one of the patterns which work well in the post 7pm session and one of the ways of finding the right stocks to watch.
I hope some people find this helpful. No level 2 etc or volume needed.
Richard

I think my problem would have been the lack of sufficient intestinal fortitude to cope with the wriggle room necessary ( if the attached Prophet.net charts are correct) between the high of the 2.25 five min bar 50.73 and the low of the 2.30 five min bar 50.34 ) I've attached, I hope, the five and one minute charts, with the 2.30 bar marked in red.

Rob

I know there's quite a few people who trade US shares in the evening when they come home from work.
I'm posting mainly on the private t2w forum with Naz these days.
For how to access:
http://www.trade2win.com/boards/showpost.php?p=173318&postcount=76

Before market open today I commented on that forum that I thought the China internet stocks were getting hot again.
I tracked my two favourites and just before 7 pm tonight NTES burst out above $56 for a $1.77 per share profit in 40 minutes.
This is a great way to trade in my view for those with day jobs. The only thing which requires real effort is to wait patiently for the right opportunity.
I'll post the chart on the private t2w forum in a few minutes.
It's currently consolidating near its highs where I exited.
Richard

A great evening's break outs last night with
WFMI
KOMG
NGPS
SEPR
One of the things needed to trade in the evening is patience and self discipline - wait for the right trade.
I'll write a bit more about this on the private t2w forum shortly - (I've just activated everybody who has applied in the last couple of days).
Richard

Goldman Sachs released news pre-market y'day and that put it on my radar.
In the evening it broke out to new highs and ran me a $1.24 profit. (I entered before it broke out).
In my opinion, it's an easy way to trade the evening session, you just wait for the right opportunity like this example.
Richard

And, it is even at this stage, likely to go higher, whatever it is.

It is Goldman Sachs, Socrates.
Ticker GS
Richard

You have, no doubt, noticed the day traders taking their (our) profit off the table towards close ;-)
Richard

silly question, anyone noticed adbe and macr tonight just about pip for pip!

If I remember correctly ADBE is buying MACR. You'd have to check that for yourself, though.
When this happens, as with SYMC, the two tend to move in lock step
Richard

It looks as if a few people like to say what happened next, so here's a little variation.
a) what happened next?
b) and more importantly what does that long tail on the last candle mean?
Richard

Mr. Charts said:

It looks as if a few people like to say what happened next, so here's a little variation.
a) what happened next?
b) and more importantly what does that long tail on the last candle mean?
Richard

Click to expand...

Hi Richard,
The 'What Happened Next' game is irresistible - just wish I was better at it
a) Price continues its advance up, strongly.
b) The long tail suggests that after the break out to new highs just before 19.30 or so, there is some profit taking by the longs or a test to check the strength of the up trend. The tail was created by a wave of demand - happy to gobble up the limited supply. The accompanying volume is very light, suggesting that there aren't that many shares to be had and, if your gonna be one of the lucky few to acquire some of 'em, you're gonna have to really make it worthwhile for the seller(s)!

Okay, now you can tell me price plummeted!
Hope you're keeping well,
Tim.

timsk said:

Hi Richard,
The 'What Happened Next' game is irresistible - just wish I was better at it
a) Price continues its advance up, strongly.
b) The long tail suggests that after the break out to new highs just before 19.30 or so, there is some profit taking by the longs or a test to check the strength of the up trend. The tail was created by a wave of demand - happy to gobble up the limited supply. The accompanying volume is very light, suggesting that there aren't that many shares to be had and, if your gonna be one of the lucky few to acquire some of 'em, you're gonna have to really make it worthwhile for the seller(s)!

Okay, now you can tell me price plummeted!
Hope you're keeping well,
Tim.

Click to expand...

Or, it was a fill away from the market bid/ask, I see them now and again on my Level II

Cheers

Andrew C

Interesing one.
Large volume beforehand and indecisive candles.
This candle has no volume and a large tail.
I think its going back down or at least consolidating - the trend has run out of steam.

However that kind of candle with that kind of volume is kind of strange.
Personally I would wait at least another bar.

I am fascinated by the answer!

Sadly it appears as if there isn't much in the way of people wanting to think for themselves and learn how to do so; only three venturing an opinion.
This is obviously only a personal view, but I think once someone learns how to do something that isn't the end of the learning process. The next stages include long hard work, experience,
determination, application and self-discipline - and being able to think for themselves. Without those the probability of success is low.
You can teach a man how to fish........
The previous image was, of course, contemporaneous and it is worth comparing the final candle on it with the completed candle shown on the attached image which is the EOD so you can see what happened.
Another image will follow in a few minutes.
Richard

Tim, Andrew and Russ, thank you for your positive contributions.

Tim, the volume appears light only because one minute 18 secs of the 5 min candle had elapsed. Almost everyone looks as such images and assumes the time window of the candle is complete.............
Yes, it did indeed rise.

Andrew, bullseye ;-)

Russ, yes, wise to wait for further evidence before contemplating a trade, if at all.

1. Not taking a trade at any particular point IS a choice and an active one.
2. Don't draw conclusions on a Nasdaq stock solely on a chart, unless you enjoy being half blind....or too blind to see.......
3. Don't assume a contemporaneous chart is only taken at the end of the time window.
4. Look at the T&S screen and you will see the large trade printing off away from the inside price, just as Andrew commented. Maximum info=better decision making processes.
5. Remember a tail, (wick, shadow whatever you want to call it), may be created by just a single trade.
6. Don't assume because someone appears to sell at a price 31c below best bid that that means professional distribution is under way. It might be, but, hey, would you draw a conclusion on the basis of a single event in any field without repeated events or confirmation from another source? Then why do that in trading? Learn to distinguish the significant from the insignificant and don't assume that everyone else knows what they are doing better than you, usually they are amateurs so learn what the professionals and MMs do and THINK FOR YOURSELF.
7. Don't exclude micro-analysis because its understanding gives you greater and real comprehension. Whilst in the land of the blind the one eyed man is king, in the land of the one eyed the man with stereoscopic and penetrating (call it MRI, CAT scans whatever as an analogy) vision rules as (s)he not only has the maximum information available but understands it - that provides the power............
This image is part of my larger set up and you can see the original image was part of a greater one.
I hope a few people find these comments interesting, perhaps even helpful.
Thanks again to those brave guys who contributed.
Richard

The glass is half full

Half right in that it had a brief consolidation - nice of you to be generous to me Mr Charts!

I DID assume the candle had finished and that is instructive in itself.

I don't trade equities but is a quote that far away from the bid unusual?
I have seen it happen in the futures market and there it most definitely does mean something is occuring.

Personally I like the "what happens next " - very instructional. Maybe more people don't respond for fear of being made to look foolish?

I am happy to say that the markets constantly make me look foolish.