Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

DOW and ROH should present some opportunities today; not necessarily on the particular set up discussed on this thread, but there should be good scalping and good swing possibilities.
Richard

 

[megamuel]

Hi Richard,

Do you ever use this in line with companies releasing their results?

 

[Mr. Charts]

ROH produced a very nice trade of +$1.30 per share. I didn't take a comtemporaneous image, but anyone can check the one minute chart and see the rise, tight triangle and break north. The exit was triggered by the level 2 screen.
Richard

 

[Mr. Charts]

I think I have already said in this thread that I sometimes trade market reaction to news, including results, never, ever the news or results themselves, always the reaction.
Obviously I mentioned these two stocks were on my radar because of the news pre-market.
Richard

 

[foredog]

Hi Richard

Sorry to hijack the thread for a moment but i'm just after some info form someone with acccess to US level 2. (doesn't have to be Richard that answers this one though)

At the moment i don't have the spare $25k to open a US trading account, but do have my money in an ETRADE account and they do let you trade NASDAQ stocks so i wanted to know if the fixed spreads they have are OK or a complete rip-off compared to the underlying prices, so i can maybe trade a bit with them while i build up enough to put into a separate account for US stocks.

Heres a few example

AAPL 5c
GOOG 25c
DELL 5c
RIMM 5c
BIDU 20c

Are these close to the usual spreads in these stocks or a rip off?

I know i'm asking how long's a piece of string and the spreads aren't constantly the same but just looking for guidance from those that know more than me about the US

Thanks

 

[Mr. Charts]

Hi foredog, At this moment - and normally - 1c spread DELL as you can see on the image I've just captured for you
Richard

 

[Mr. Charts]

currently
bidu 11-13c
goog 10-30c
aapl 1c
rimm 1-2c

Of course once you know what you are doing you can trade like a market maker inside the spread with direct access.
Also a 5c spread applies with people like etrade (on dell say) both in and out so it's really 10c (40c on bidu say)
I suspect they even charge a fee on top of that !
HTH
Richard

 

[foredog]

currently
bidu 11-13c
goog 10-30c
aapl 1c
rimm 1-2c

Of course once you know what you are doing you can trade like a market maker inside the spread with direct access.
Also a 5c spread applies with people like etrade (on dell say) both in and out so it's really 10c (40c on bidu say)
I suspect they even charge a fee on top of that !
HTH
Richard

Thanks Richard for the quick response.

You're right they do charge a comm. as well ($28 round trip!), with margins like that it's a wonder ETRADE ever had cashflow problems!

I guess there's not really a good alternative to having that DMA account.

Oh well, have to start saving so i can have two accounts. Shame i didn't think of this when it only cost £12500 to fund a $25000 account!

 

[Mr. Charts]

IB charge $2 round trip 200 shares, $5 RT for 500 shares, $10 RT for 1000 shares.
Trade on 1c spread stocks and trading is very cheap.....certainly compared with etrade.
Richard

 

[Mr. Charts]

And yet another - they are there most days, just waiting to be found and traded.
As usual, entry on the X hairs, exit at time of screenshot
Spread was 2c-3c so the actual profit was 55c per share.
A nice gentle swing trade on 3 min candles.
Richard

 

[timsk]

It might be worth adding CELG to your watchlist today boys 'n' girls following the deal done with NICE and the NHS. (The latter two aren't stocks btw. :cheesy Daily chart attached, showing 5WMA (gold), 50SMA (grey) and 200SMA (black)
Tim.

 

[Mr. Charts]

Thanks for that, timsk.
Richard

 

[Mr. Charts]

I don't want to go off subject, but I couldn't resist just this once.
View from one of my trading room windows - it's what I see when I look up from my screens.
Richard

 

[candles]

here's my view:

 

[Mr. Charts]

And from the other window

 

[timsk]

You lot wanna come and live in Devon - that's what you wanna do. A place where the sky is blue and the grass is as green as it was yesterday and the day before that. Lovely and mild it is . . .

 

[RubenE]

Looks nice and peaceful guys.

Ruben.

 

[Mr. Charts]

Hissssssssssssssss..............timssssssssssssssssssk



Have a good day,
Richard

 

[megamuel]

Hello Richard,

I have started a journal and I am giving this technique a go. Perhaps you would be so kind as to take a look at my journal as I would greatly appreciate your input. Link is in my signature. Hope that you are well,

Sam.

 

[Mr. Charts]

megamuel,
I can't really spend much time doing as you ask, I'm afraid.
As well as trading I also run a private group and those guys and girls get my on going support and comments etc most days.
I've had a quick look at that trade and it's not of the type I have posted about on this thread.
I'll make a couple of comments on your thread shortly.
Beyond that I really can't mentor you, sorry.
Richard