Breakout Trading using Time and Sales

[amit1986]

hard to find any good opportunities right now...

 

[ChocolateDigestive]

hard to find any good opportunities right now...

have you got any stock screeners running?

 

[amit1986]

have you got any stock screeners running?

Yes, IB's stock screeners:



Along with Mr. Charts' live alert site.

 

[Andyclockwise]

Yes, IB's stock screeners:

View attachment 130698

Along with Mr. Charts' live alert site.

I find those very useful as you can launch up to 16 charts in one window straight from the scan results.

 

[evostik]

I find those very useful as you can launch up to 16 charts in one window straight from the scan results.

Hey Andyclockwise - I guess you and others do the same but you can copy/paste same into an IB Portfolio Window and include columns for (among other things) SPREAD, HoD, Lod, RANGE so you can very quickly filter what characteristics you want to trade before creating IB charts. This is really easy to do.

Cheers
Steve

 

[amit1986]

-10 cents per share FSLR reversal trade failed...double bottom with bidding pressure so went long but it reversed quickly.

 

[amit1986]

should have stuck to the 5-minute chart on FSLR

 

[ChocolateDigestive]

go with the flow son, reversals are tricky, with the flow is a walk in the park.

 

[ChocolateDigestive]

Yes, IB's stock screeners:

View attachment 130698

Along with Mr. Charts' live alert site.

I dont know how advanced the IB scanner is but I know a some pros who use this scanner.

Free Stock Screener - MadScan Free Real time stock screener and stock scanner alerts.

check it out, it is awesome

 

[amit1986]

I dont know how advanced the IB scanner is but I know a some pros who use this scanner.

Free Stock Screener - MadScan Free Real time stock screener and stock scanner alerts.

check it out, it is awesome

Thank you.

Done for the day. Good trading to all!

 

[amit1986]

Results so far (all are breakout trades):

SINA: -9 cents per share
ZNGA: +3 cents per share
SINA: +30 cents per share

 

[amit1986]

I usually don't trade the likes of SINA but I got a good read on it today, so took it.

 

[amit1986]

-5 cents per share APC reversal failed...took that on the 1-minute chart till I got stopped out by the opposite end of the previous candle.

 

[neil]

Results so far (all are breakout trades):

SINA: -9 cents per share
ZNGA: +3 cents per share
SINA: +30 cents per share

Just goes to show how hard it would be to get these sort of results on a similar time scale with a spread bet firm (size of spreads).

 

[amit1986]

+13 cents per share FMCN reversal on the 5-minute chart

could only get 900 shares short on it though, not my usual 1000 shares.

 

[amit1986]

small profits today...really frustrating...hoping for a nice big gain sometime today

 

[amit1986]

+2 cents per share APC reversal...got long on the 5-minute chart and got out when it stopped going up

 

[ChocolateDigestive]

Just goes to show how hard it would be to get these sort of results on a similar time scale with a spread bet firm (size of spreads).

concur, you cannot SB this strategy. You need an IB retail account paying $0.005 a trade and $25,000 to satisfy the PDT rule. You can go through a prop trading company with a minimum $5000 deposit and they will give you $100k BP on a high split 95%+ and $0.005 commish. A lot of pros play in the dark pools where you can trade for $0.0001which makes a BIG difference, some guys still playing the ECN rebate game but that is getting harder.

 

[amit1986]

+23 cents per share SINA...that was an intra-chart trade, no breakout. Just some good buying pressure and then got out when it stopped.

 

[amit1986]

SINA trade. One not for the inexperienced level 2 reader.

Entry: 75.24
Exit: 75.47
Profit: +23 cents per share

Like I've said, I usually don't trade SINA but for some reason, I've got a good read on it today.