Best Thread How To Make Money Trading The Markets.
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Mr. Charts
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You could trade CFDs or spread bets, but it's not as profitable as direct access, which is what you would need $25k for.
Richard
Richard
CFDs maybe, spread bets would be illegal for US citizens until they change the online gambling law.
I am not 100% on this but can't other citizens, eg UK open a 10k account in the UK but then trade US stocks without being subject to the 25k rule?
Richard
they allow max 4 trades per 5 biz days, may be i could at least do that, anyway i work 4on4off so i can only do so much now, 4 trades better then nothing.
i could may be do futures,forex, but leverage is way too high and slippage could be bad.
tha's a bummer of course
, well, i gota go and get that extra 15 k , off i go, be positive .
thanks for your help guys
they allow max 4 trades per 5 biz days, may be i could at least do that, anyway i work 4on4off so i can only do so much now, 4 trades better then nothing.
i could may be do futures,forex, but leverage is way too high and slippage could be bad.
tha's a bummer of course
, well, i gota go and get that extra 15 k , off i go, be positive .thanks for your help guys
Mr. Charts
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max7,
I suspect it's three trades in a five day rolling period, but make absolutely sure for yourself as if you breach the regulations you could find your account frozen !
Don't be tempted to breach or circumvent US laws even though it seems you are a UK citizen.
I have heard of brokers in the West Indies - unregulated - who say they consolidate orders to get round US laws. I don't personally know of anyone who has used them, but I would suggest you keep everything honest and straightforward.
Hope things work out for you,
Richard
I suspect it's three trades in a five day rolling period, but make absolutely sure for yourself as if you breach the regulations you could find your account frozen !
Don't be tempted to breach or circumvent US laws even though it seems you are a UK citizen.
I have heard of brokers in the West Indies - unregulated - who say they consolidate orders to get round US laws. I don't personally know of anyone who has used them, but I would suggest you keep everything honest and straightforward.
Hope things work out for you,
Richard
other options are a fim like alliance, maybe?:
http://www.alliancetrader.com/about.html
Not ideal due to commissions and various fees, but what are ya gonna do!?
Or maybe trade remotely through a prop firm like Nexis or JC trading group? I believe there are firms where you put up £5k or so and you trade under an 'umbrella' account where you can daytrade as much as you want. That 5k is your risk capital, but they'd want a cut of any profits. Seems to be popular amongt alot of the US traders over at elitetrader. I dont know of anyone who's tried it though.
I dont know. It's annoying though. Id like to daytrade very small numbers of shares myself.
Just some ideas. Let me know if you try any of them.
http://www.alliancetrader.com/about.html
Not ideal due to commissions and various fees, but what are ya gonna do!?
Or maybe trade remotely through a prop firm like Nexis or JC trading group? I believe there are firms where you put up £5k or so and you trade under an 'umbrella' account where you can daytrade as much as you want. That 5k is your risk capital, but they'd want a cut of any profits. Seems to be popular amongt alot of the US traders over at elitetrader. I dont know of anyone who's tried it though.
I dont know. It's annoying though. Id like to daytrade very small numbers of shares myself.
Just some ideas. Let me know if you try any of them.
Mr. Charts
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Today was a choppy day overall on the US markets, but POT made it into a cracking good one.
This was my third trade today in POT and is the "variant" of the method in this thread.
Entrance slightly late on the red X hairs and exit at time of image as the buying stopped and the selling began. Why wait till the trailing stop is triggered when you can see a reverse is beginning to happen......
Note the volume blow off, the reversal and diminished volume as the shorts covered forcing price up. I don't use volume much but this was a classic text book situation.
Surprisingly, (to those who believe everything they read in text books), price frequently rises sharply on very little volume - quite contrary to what almost everyone believes.
+108c per share on this one alone.
Richard
This was my third trade today in POT and is the "variant" of the method in this thread.
Entrance slightly late on the red X hairs and exit at time of image as the buying stopped and the selling began. Why wait till the trailing stop is triggered when you can see a reverse is beginning to happen......
Note the volume blow off, the reversal and diminished volume as the shorts covered forcing price up. I don't use volume much but this was a classic text book situation.
Surprisingly, (to those who believe everything they read in text books), price frequently rises sharply on very little volume - quite contrary to what almost everyone believes.
+108c per share on this one alone.
Richard
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Mr. Charts
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Here's another one from today.
CTRP was on my watch list from before open. Once it broke down I shorted it and followed it down till the chart exit rule I've decribed earlier took me out.
The point is, even if a stock doesn't set up it's still worth keeping it on watch in case it does later, as this one did.
+63c per share
CTRP was on my watch list from before open. Once it broke down I shorted it and followed it down till the chart exit rule I've decribed earlier took me out.
The point is, even if a stock doesn't set up it's still worth keeping it on watch in case it does later, as this one did.
+63c per share
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Mr. Charts
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A typical "gap and crap" day as our American friends call it.
Mr. Charts
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Surprisingly, (to those who believe everything they read in text books), price frequently rises sharply on very little volume - quite contrary to what almost everyone believes.
There are a lot of myths in trading and people tend to believe them as they appear sensible, logical and are repeated so often they become accepted.
Sometimes there is a modicum of truth and reality in them, but the problem is that the exceptions often are more frequent than the accepted norm......
Most people would dispute that and I'm not going to argue with them, I just have 10 years experience of trading for a living so I know what works and what doesn't in this probability business - and it is a matter of probabilities, not certainties - and you do need to treat trading as a business.
This chart of a trade I did yesterday illustrates the point about price rising on falling volume.
Richard
There are a lot of myths in trading and people tend to believe them as they appear sensible, logical and are repeated so often they become accepted.
Sometimes there is a modicum of truth and reality in them, but the problem is that the exceptions often are more frequent than the accepted norm......
Most people would dispute that and I'm not going to argue with them, I just have 10 years experience of trading for a living so I know what works and what doesn't in this probability business - and it is a matter of probabilities, not certainties - and you do need to treat trading as a business.
This chart of a trade I did yesterday illustrates the point about price rising on falling volume.
Richard
Mr. Charts
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Mr. Charts
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I've updated my blog and as can be seen I had a few losing trades today in the chop.
Still profitable, though.
Richard
Still profitable, though.
Richard
Mr. Charts
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See you on Monday, aberden
Richard
Richard
High probability you might have to pay to find out or demo it and work on the rules yourself
Mr. Charts
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One of the basic mistakes people make about volume is to assume that when they see a blue volume bar or a red one on a chart that means all the trades printing off must have been buys or sells respectively.
They then make decisions based on that.
Every trade is simultaneously a buy AND a sell.
Richard
They then make decisions based on that.
Every trade is simultaneously a buy AND a sell.
Richard
Mr. Charts
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Mr. Charts
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Purely from the chart there was no reason whatsoever to exit when I did - plenty of "blue" volume
I did not wait for a chart signal to exit the trade as the depth was very readable and I could see there was a strong possibility of a reversal from the way participants were behaving.
In fact it turned out I exited on the highest candle.
This is what it looked like a few minutes later.
I did not wait for a chart signal to exit the trade as the depth was very readable and I could see there was a strong possibility of a reversal from the way participants were behaving.
In fact it turned out I exited on the highest candle.
This is what it looked like a few minutes later.
