Evening trading US shares

This is me for today no more trade I have had enough of spending time in front of PC.. An excellent Exhaustion signal from the Vwap engine locked in a handsome return on my short term AMZN trade. The exhaustion engine is a must for those who trade the momentum in stocks . I think I have given the code for TS to those who subscribed to my Technical Forum if I am not mistaken

I let you guys to catch the rest of the trend on Amzn ,,

Muchas Gracias
 

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dvdh said:
Totally agree!
Click to expand...


Thanks both of you for explaining, I still have a lot to learn but every day I get a little better. I'm aiming to use a similar trading method to the both of you LII, candlestick and MA's to pick up .50 to $1 of a momentum move so all help is welcome.

At the moment my main problems seem to be not watching the correct stocks at the open and missing opportunities (sp) and when I do spot a decent setup second guessing myself out of it. So please keep posting your trades as it really helps me identify setups :D.

Hope you had a profitable day

Jim.
 
Axler said:
Thanks both of you for explaining, I still have a lot to learn but every day I get a little better. I'm aiming to use a similar trading method to the both of you LII, candlestick and MA's to pick up .50 to $1 of a momentum move so all help is welcome.

At the moment my main problems seem to be not watching the correct stocks at the open and missing opportunities (sp) and when I do spot a decent setup second guessing myself out of it. So please keep posting your trades as it really helps me identify setups :D.

Hope you had a profitable day

Jim.
Click to expand...

It sure was profitable!
 
Guys,

the selling thursday in the index futures, was all because of options expiration.

Today we had widespread selling from the highs down to the lows in the S&P because of locals that we're pushing it lower. Merrill Lynch has been buying the open for a few days in a row now for size. And he just sold the cash close 1000 time, and it wasn't the options group! So seriously expecting a move lower the last two trading days!

Keep your eyes open!

-Dave
 
I thought that I had missed out on AMZN on my swing trade when it went ballistic this morning, but I made up for it scalping it short all this evening, am bloody exhausted now after 8 scalps all for around 20 to 30 each when it kept on breaking it's lows. Hey Grey, do you think if you put me in your exhaustion engine it would give a valid signal as I am knackered? LOL
PB
 
grey1 is in trading mood for some reason . A beautiful divergence hedge QCOM short against AMZN long paid a quick 2000$ ish ..

it just feel great to compete.

grey1
 

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Trader333 said:
Grey1,

What was the basis for trading these 2 ?


Paul
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Paul ,

Every night I choose 3 short 3 long stocks ,,, 30 min before the market open I look for any adverse news against any of the picks. I then look for market confirmation ,, Those stocks that are great shorts hover around and above previous close and visa versa

Now, Pos size is determind by stochastic Volatility envelope ( I have said people to use ATR because of the maths behind SVE is some thing I keep to myself but people can still use the historical eveidence ,,, hence the ATR ).

The stocks from the night before are determind as follow
I use MLT ,, Multi time frame analysis,, hence I use cycles in a higher time frame to determine the stock direction in lower time frame ,,Therefore stocks that go through negative cycles are good candidates for next day short and visa versa



At open if i get one excellent short and a excellent long from daily analysis explained above i hedge them and close them fast. I donot have to close them fast but i do that before program traders adjust to stock's fair value ,,, Hence the edge ,,


I am up around $3300 ish for the day ,,, A very simple day to kick ass,

I have an OVER NIGHT TRADE SHORT PXD @ 49.242 Currently up $212 so I will close my short pos with $ 200 stop loss 2morrow and a target of around 700$ ish //( the exect pos size for the stock was 1112 ..)

Did it help at all my man ?

grey1
 

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Grey1 said:
. I am sure you know what I think of the market by now ,, I feel we have a major correction ahead of us late next week ,,


grey1
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today was the first leg of correction ,, technically we should go down far more with in next few days but as you all know this market is sentiment driven as much as technical , either way donot take a LONGGGG ( scalp long but donot take a LONG pos and let it run ) postions specially if you have Over night postions,, The risk is much much Higher

The daily cycle for INDU is 3 days ,, so if we are down 2morrow and Monday then we might get an up side reaction to it on Tuesday ,,

This must be the first time in last past few years that I have been on this BB to forcast the market future trend ,, This is not some thing I am expert at all and I am aure there are more qualified guys than me to comment about this issue

grey1
 
Grey1 said:
Paul ,

Every night I choose 3 short 3 long stocks ,,, 30 min before the market open I look for any adverse news against any of the picks. I then look for market confirmation ,, Those stocks that are great shorts hover around and above previous close and visa versa

Now, Pos size is determind by stochastic Volatility envelope ( I have said people to use ATR because of the maths behind SVE is some thing I keep to myself but people can still use the historical eveidence ,,, hence the ATR ).

The stocks from the night before are determind as follow
I use MLT ,, Multi time frame analysis,, hence I use cycles in a higher time frame to determine the stock direction in lower time frame ,,Therefore stocks that go through negative cycles are good candidates for next day short and visa versa



At open if i get one excellent short and a excellent long from daily analysis explained above i hedge them and close them fast. I donot have to close them fast but i do that before program traders adjust to stock's fair value ,,, Hence the edge ,,


I am up around $3300 ish for the day ,,, A very simple day to kick ass,

I have an OVER NIGHT TRADE SHORT PXD @ 49.242 Currently up $212 so I will close my short pos with $ 200 stop loss 2morrow and a target of around 700$ ish //( the exect pos size for the stock was 1112 ..)

Did it help at all my man ?

grey1
Click to expand...

Iraj,

Yes thanks for your reply, I use ATR as you have suggested as a basis for volatility and it works well enough for my purposes. Can I ask one thing, for your Long candidates, do they hover around and below the previous close ?


Paul
 
The index moved lower today!!!!!
And it looks like this is definately not the end. There was a paper cash dealer in the pit, unloading a position 100 at a time. (100 big contracts, 500 minis). He sold a few 1000 in 30 minutes time. That is HUGE. This guy normally doesn't trade these HUGE sizes. And he came in relentless big time seller. So let's see tomorrow!

We did have small paper buyers on the cash close! But it's been a while since these kind of size sellers came through! Let's see what china does overnight!

-Dave
 
I take it you're listening to one of those pit squawks. Total waste of time and money IMO.

Relax, it's just a 50% pullback of a 2 week rally.
 
notouch said:
I take it you're listening to one of those pit squawks. Total waste of time and money IMO.

Relax, it's just a 50% pullback of a 2 week rally.
Click to expand...

That's your opinion. It's been working perfectly for me for the last 3 years! When I trade a stock that's about to break out, and I hear the futures ticking up and some buying going on. then I know that my stock is most likely going to break out too! I know when there's follow through and you can't see that from a chart!
Many people think it's a waste of money. If that's you're opinion, then you shouldn't waste it! For me it's an edge, believe it or not!

I'm relaxed. I don't care whether we sell off 50 points in the S&P or go 50 points higher.

-Dave
 
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I want some advice. This is my favourite thread. I have recently found that it may be possible for me to daytrade without having the pdt required $25k if i trade with a canadian broker. Namely questrade. I was hoping to be trading 100 share lots to see if I can carry my demo performance over to real live trading, although because of their commissions i think it would only be worth my while if i wa trading more like 500 shares (which is a bit rich for my blood really.)

I have been practicing on a demo account of directaccesselite for a few months and every day I am making, although I am relatively new to direct access trading and I want to see if I actually would be making once commissions.fees etc are brought into the equasion.

these are todays trades: Would I be making money overall if every day was similar to todays p/l statement? Also commissions. If the broker says 1c per share (minimum $4.95) that means I pay $5 for 500 shares. £4.95 for 100 shares. and is that for a roundtrip or per side?
 

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dvdh said:
That's your opinion. It's been working perfectly for me for the last 3 years! When I trade a stock that's about to break out, and I hear the futures ticking up and some buying going on. then I know that my stock is most likely going to break out too! I know when there's follow through and you can't see that from a chart!
Many people think it's a waste of money. If that's you're opinion, then you shouldn't waste it! For me it's an edge, believe it or not!

I'm relaxed. I don't care whether we sell off 50 points in the S&P or go 50 points higher.

-Dave
Click to expand...

All you're hearing is volume in the pit. You're far better off looking at electronic volume in the ES, which has far higher liquidity than the dying pit anyway.
 
grey1 is down around 950$ to day ,, PXD was a bad trade which cost me around 500 ( my stoploss did not trigger )

Reason for the loss was ,,,,getting the market direction totally 100%, wrong ..

I am not displeased with the loss with very very annoyed with getting the market direction wrong whole day ,,

have a nice week end,, well p****d off i am now

grey1
 
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