Naz
Experienced member
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One thing i enjoy doing.Which i have just done tonight on MERQ is to hold a position after the close when your stacked up with profits.then as the spread realy opens up (in this case by up to 40c) and the stock continues to trade in your desired direction capture the spread when you want to get out.This added about another 25-30% to my bottom line for that trade this evening.
Anyone trading it on a level 2 screen tommorow.Goldman is worth watching.He was the MAIN MAN.Thanks for your direction and thanks for all you island guys who panicked after the bell.
Knowing my luck it'll continue to tank and i would have got out to soon,but there you go.
Anyone trading it on a level 2 screen tommorow.Goldman is worth watching.He was the MAIN MAN.Thanks for your direction and thanks for all you island guys who panicked after the bell.
Knowing my luck it'll continue to tank and i would have got out to soon,but there you go.
Last edited:
Thestockoperator
Junior member
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Listed Stocks
Naz do you only trade Nasdaq Stocks or do you trade Listed stocks as well
Naz do you only trade Nasdaq Stocks or do you trade Listed stocks as well
Trader333
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How Long to Become Proficient
Naz,
As you are a very experienced Level II trader, could you let me know how long it would take to become reasonably proficient at trading this market ? I accept that it will depend on a number of factors but after I have attended your seminar, I would like to start the ball running as soon as possible so a general idea would be welcome.
Naz,
As you are a very experienced Level II trader, could you let me know how long it would take to become reasonably proficient at trading this market ? I accept that it will depend on a number of factors but after I have attended your seminar, I would like to start the ball running as soon as possible so a general idea would be welcome.
Naz
Experienced member
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Hi Guys,
I only trade Nasdaq stocks.Where else can you grab 40c spreads.
How long does it take? Remember you are still trading the market.If you cant trade, it wont make you a better trader.However learning its tricks and sublties can add thousands to your bottom line,yes that takes a little time and everyone is different.Old codgers like me need a little more time than guys under 30.But its worth learning.
Some people pick it up quickly, some think they know it but only use half its facilities.Some just cant grasp it.But others fly and make hundreds of thousands.Every individual is different and take different lenghts of time to learn it.
Look at it like learning to drive a car.
I only trade Nasdaq stocks.Where else can you grab 40c spreads.
How long does it take? Remember you are still trading the market.If you cant trade, it wont make you a better trader.However learning its tricks and sublties can add thousands to your bottom line,yes that takes a little time and everyone is different.Old codgers like me need a little more time than guys under 30.But its worth learning.
Some people pick it up quickly, some think they know it but only use half its facilities.Some just cant grasp it.But others fly and make hundreds of thousands.Every individual is different and take different lenghts of time to learn it.
Look at it like learning to drive a car.
Hi everyone, I am a tyro at TA and SB and I find I get a lot of
enjoyment reading all the postings, my problem is it is a little
bit like learning a new language, and I get frustrated in not
following everything that I am reading. so the reason for this
missal is to ask that some kind trader spare some time to produce a glossary of some of the more used terms such as
the meaning of fib, imho, swing trading,I am sure I am not alone
in this. eddy.
enjoyment reading all the postings, my problem is it is a little
bit like learning a new language, and I get frustrated in not
following everything that I am reading. so the reason for this
missal is to ask that some kind trader spare some time to produce a glossary of some of the more used terms such as
the meaning of fib, imho, swing trading,I am sure I am not alone
in this. eddy.
eddyjo - u can easily do a search for such a glossary on the net already....
To get you started, have a look at http://stockcharts.com/education/ and also http://www.equis.com/Education/TAAZ/
HTH
To get you started, have a look at http://stockcharts.com/education/ and also http://www.equis.com/Education/TAAZ/
HTH
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eddyjo - there's no need necessarily to look elsewhere for you question to be answered, as most people here are helpful. To answer your question:
fib - this is a shortened version of the word Fibonacci (a numeric phenomenon/system often used for measuring retracements and projections in trading)
imho - this is bullboard abbreviation for In My Humble Opinion. Those who are not humble use IMO instead
swing trading - this is a form of trading which usually takes place over one to three days (but can also refer to intraday trading too) and is where you trade the swings within the predominant trend. This means that you are going long and/or shorting.
If there is anything else you need to know, please feel free to ask.
fib - this is a shortened version of the word Fibonacci (a numeric phenomenon/system often used for measuring retracements and projections in trading)
imho - this is bullboard abbreviation for In My Humble Opinion. Those who are not humble use IMO instead
swing trading - this is a form of trading which usually takes place over one to three days (but can also refer to intraday trading too) and is where you trade the swings within the predominant trend. This means that you are going long and/or shorting.
If there is anything else you need to know, please feel free to ask.
Mr. Charts
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$25000 if you want to be a Pattern Day Trader, ie day trade as many times as you want every day live into the Nasdaq.
This gives you X4 gearing so you can up to $100,000 of positions.
This gives you X4 gearing so you can up to $100,000 of positions.
Mr. Charts
Legendary member
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"pattern day trader" to include any customer who (a) the firm knows or has a reasonable basis to believe will engage in pattern day trading, or (b) day trades four or more times in five business days, unless his or her day-trading activities do not exceed 6% of his or her total trading activity for that time period;
The above is the Nasdaq regulation.
People who mess with the regs on this simply get their account closed.
http://www.interactivebrokers.co.uk/
for details of how much IB require for different accounts
HTH
The above is the Nasdaq regulation.
People who mess with the regs on this simply get their account closed.
http://www.interactivebrokers.co.uk/
for details of how much IB require for different accounts
HTH
Trader333
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Pattern Trading
Thankyou again Mr Charts. I do have an account with IB and emailed them on what would be required for Level II trading but their answer was inconclusive. I note that IB do not offer many ECNs for Level II and yet Alan has said the more the better. That said I have found IB to be very good so far.
Cheers
Paul
Thankyou again Mr Charts. I do have an account with IB and emailed them on what would be required for Level II trading but their answer was inconclusive. I note that IB do not offer many ECNs for Level II and yet Alan has said the more the better. That said I have found IB to be very good so far.
Cheers
Paul
Mr. Charts
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Paul,
I use esignal - the best IMVeryVeryHO (ok skim? ;-) ) as a feed and charting with IB integrated
I use esignal - the best IMVeryVeryHO (ok skim? ;-) ) as a feed and charting with IB integrated
Medved screen dump
Have only been using it for a day using the free software and a 2 week free trial datafeed, so I can't really add to the reviews in the relevant section.
They are currently working on extending the intraday period to cover more than a day.
The index data does seem about 30 secs behind Lycos but that may be the particular data feed I'm using.
I've stuck this here, rather tha in the review section as I can attach a picture here.
HTH
Have only been using it for a day using the free software and a 2 week free trial datafeed, so I can't really add to the reviews in the relevant section.
They are currently working on extending the intraday period to cover more than a day.
The index data does seem about 30 secs behind Lycos but that may be the particular data feed I'm using.
I've stuck this here, rather tha in the review section as I can attach a picture here.
HTH
Attachments
kinglatfan
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If you want to pattern day trade on Nasdaq on margin is it not simpler to borrow from the Bank and operate on the basis that all your trades are fully funded?
This strategy calls for detailed money management but at least you always stay in control of your positions. The Nasdaq regulations need to be read in conjunction with the Brokers own in house rules. It seems to me that sooner or later you are going to get the wrong side of the Regulations if only by accident. Brokers do have the right to liquidate your positions on a margin call over your head and this does worry me.
One other option would be to have ready access to funds with a current account mortgage although you may need some dexterity with currency exchange here.
When you are trading for real there are enough things to think about without the added burden of incurring a margin call particularly in a fast moving market.
Kinglatfan
This strategy calls for detailed money management but at least you always stay in control of your positions. The Nasdaq regulations need to be read in conjunction with the Brokers own in house rules. It seems to me that sooner or later you are going to get the wrong side of the Regulations if only by accident. Brokers do have the right to liquidate your positions on a margin call over your head and this does worry me.
One other option would be to have ready access to funds with a current account mortgage although you may need some dexterity with currency exchange here.
When you are trading for real there are enough things to think about without the added burden of incurring a margin call particularly in a fast moving market.
Kinglatfan
kinglatfan
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Miki
I suspect that dealing with a secured Bank mortgage overdraft would be a lesser evil than being at the mercy of an unsympathetic broker who will know his margin rules inside out and will have thought out his strategies before you even know you have a problem.
Trading is a dangerous game no matter how good and experienced you may be. Statistics show the majority of traders blow out in a year. Margin Trading and Capital Funding should only be considered once you have clearly established yourself as capable of consistently making a profit over several periods of time.
Reading the small print of margin accounts really scares me. I simply would prefer to trade without this additional worry.
Rest assured I have not remortgaged my house yet!
Kinglatfan
I suspect that dealing with a secured Bank mortgage overdraft would be a lesser evil than being at the mercy of an unsympathetic broker who will know his margin rules inside out and will have thought out his strategies before you even know you have a problem.
Trading is a dangerous game no matter how good and experienced you may be. Statistics show the majority of traders blow out in a year. Margin Trading and Capital Funding should only be considered once you have clearly established yourself as capable of consistently making a profit over several periods of time.
Reading the small print of margin accounts really scares me. I simply would prefer to trade without this additional worry.
Rest assured I have not remortgaged my house yet!
Kinglatfan
