Trading NASDAQ stocks with Jerry Olson & Ian Hodgson

[ianh]

Many thanks to all the guys for posting there views, and I have to say that I am really pleased that the thread is generating renewed interest in "Trading the Nasdaq". That was the whole idea when Jerry & I started the thread, as many people have pointed out, the old "Trading the US" thread was losing interest and getting a bit stale.

As an ex pupil of Alan's, and with my experience of working with Jerry over the last six months, I have to say that their methods are very similar. They both scalp the market very quickly, and I truly believe that a lot can be learned from both of them. The arrival of Grey1 into Jerry's room has shown another dimension, and I know that a lot of the guys appreciate the time and effort that he takes to show his trades. The Trading Room gives every trader an advantage as there are over 100 pairs of eyes watching everything going on in the market. Quite a lot of the guys had a piece of RMBS on Thursday as the stock dropped 15 points on the news, only to recover 10 of them in the next three 5 minute bars.

Bottom Line guys: This is not a competition. We all have the same goal. To make a days pay in this crazy market!

 

[Jerry Olson]

The e mails are coming into me now so i will explain something.

Before this thread started i was not allowed to mention my commercial activities. So thats why i havent posted. This thread has changed those boundaries, so now i'm able to talk about what i do day in day out. So many thanks for giving me that opportunity.

Its great that others have started posting about a market that is so close to my heart and which i trade for a living. My style is probably different to these guys but at the end of the day we all believe this is a market worth following and where anyone astute enough can make a living.

I wish this thread well and when i'm ready i will start my own thread along side this one so that the two of them can offer T2W members interesting reading material day in and day out and hopefully entice even more members to ponder about trading the US markets.

If you want to know more about how i trade, i shall be talking at a free evening at the Holiday Inn central London next Thurs. Details on www.clickevents.co.uk.

Many thanks to the guys on this thread for their understanding, i wish them well.

All the best.

Naz

Hiya Alan

Welcome to this thread anytime. All i've heard from the UK traders is your a straight shooter and one of the best traders anywhere.

Actually i think i must have violated some terms of use here by posting my e-mail address to many time..........

And parts of my newsletters and pre market updates on the thread probably where not supposed to be here.. So i do not think i'll be able to do that anymore. I guess if someone wishes to contact me they'll have to do it thru my profile???, or by private message i guess

However i am going to be here from time to time as time permits posting ideas for "ALL" traders no matter what there current status as traders, either scalpers, swing or investors. It matters not which they choose to be as long as we are all here to help each other make money.

It's certainly not about ego's, who's better than who, how much money we make or have, it never mattered to me how many shares a trader uses to make a trade or in fact how much money they made.

This has never been my point ever! My point Alan et all is try to make sense of this twisted world of the markets ebbs and flows, and interpret it like a pro.

So i welcome anyone, all traders investors etc to post here or on Alan's thread it simply does not matter to me. If you have something that anyone thinks can help others, that is worthwhile without an underlying negative thought process trying to "catch" traders mistakes, trying to undermine a good thinkers thoughts, then everyone is welcome.

Hey Alan and all i just got home from celabrating my 65th Birthday with my wife Inna in NYC. We had a a grand old time shopping eating drinking and making merry. Today in fact is that day.

However i'll be working with the free trial people at 2.00 pm est US, to continually try to move traders up a knotch above the madening crowd.

Alan i to have a fee based service for subscribers. I charge $50.00 bucks a month for approx. 320 hours a month worth of time and effort, about 80 hours a week. I send out a weekly newsletter, it goes out to everyone tonight, i do pre market updates tues thru friday, and i give people entrance to my real time trading room all in one neat package.

So for about $1.33 per day traders and investors can partake in my craft. As per usual if i am not providing new and better information for traders then they can cancel whenever they wish. Very simple and straight forward. For the hours i work i want to be compensated like any other service provider. Every one pays to play no matter what you do in any business.

In closing i am happy if anyone that posts here or on Alan's thread can make some money for other traders everywhere. I will ignore all negative posts, all ankle biters when i am wrong about a call, since my record will speak for itself, like it or not. My skin is thinker then an old BULL Elephants so rant and rave all you want folks.

Since i have been there and done that for 30 years, at 65 i am one happy guy that i'm alive, in good health and spirits thank the good Lord, and still to this very day have a full head of black hair. That is my one shining claim to fame....................... :cheesy:

Alan and all welcome and let's just make some money................PERIOD

with warm regards to all

Jerry & Inna

 

[timsk]

. . . and still to this very day have a full head of black hair.

Jerry,
Just when I was starting to warm to you - you come out with this!
Tim.

 

[Jerry Olson]

Many thanks to all the guys for posting there views, and I have to say that I am really pleased that the thread is generating renewed interest in "Trading the Nasdaq". That was the whole idea when Jerry & I started the thread, as many people have pointed out, the old "Trading the US" thread was losing interest and getting a bit stale.

As an ex pupil of Alan's, and with my experience of working with Jerry over the last six months, I have to say that their methods are very similar. They both scalp the market very quickly, and I truly believe that a lot can be learned from both of them. The arrival of Grey1 into Jerry's room has shown another dimension, and I know that a lot of the guys appreciate the time and effort that he takes to show his trades. The Trading Room gives every trader an advantage as there are over 100 pairs of eyes watching everything going on in the market. Quite a lot of the guys had a piece of RMBS on Thursday as the stock dropped 15 points on the news, only to recover 10 of them in the next three 5 minute bars.

Bottom Line guys: This is not a competition. We all have the same goal. To make a days pay in this crazy market!

I'll Drink to that Ian.........................................

No truer words were ever written so well

i can tell you from me to you that meeting you and getting to know you has been a wonderful event in my life.

You;re one stand up guy...thanks for all you do in the roolm and behind the scenes..

see you tomorrow best to Pam and the family

 

[Jerry Olson]

Jerry,
Just when I was starting to warm to you - you come out with this!
Tim.

LOL Roflmao

ahahahahahahaha

 

[Jerry Olson]

Let the Games Begin

Morning all

I would think we'll get a short pullback early this week and then a major pop leading to the May 9th FOMC meeting.

My upside targets for the DJIA is 11,650 2440 for the NASDAQ and above 560 SOX which to me is now the key index to watch.

There is a new move in rates as the 10 year yield now has a graveston edoji on the daily while there is a super nice bullish divergence on the CCI of the TLT.

here are those charts.

TLT---THE LEHMAN BOND SHARES. LOOKS POISED TO RALLY HERE AFTER A HORENDOUS FALL.

TNX THE 10 YEAR YIELD CHART----A SET UP FOR A HUGE SURPRISE TO THE DOWNSIDE ON RATES. I HAVE BEEN
SPECULATING FOR WEEKS NOW. THE BEARISH DIVERGENCE CCI IS THE "TELL".

I am a big believer of watching the CCI on the Daily Candle Charts looking for divergences as "tells" of a seed change in the trend of the chart.

I would be buying any dip the first couple of days this week.

have a good trading week all.

btw fwiw i will not be placing my web site or e-mail address in any posts, if you wish to contact me please use my profile they are right thtere. thanks

 

[samtron]

This is the screen shot of my trading platform ..

Hi Grey1, thanks for posting.
Does this mean that you, in the main, ignore L2 when trading?

 

[Grey1]

Hi Grey1, thanks for posting.
Does this mean that you, in the main, ignore L2 when trading?

Samtron my man ,

I no longer use L2 .. No need what so ever Thanks to Advanced Technical analysis .. ( was it fundamentalists who said TA does not work HEHEHEHEH load of bull... )

I was late to day but still managed to scalp $713 in two trades . ma ma mia

 

[Chicken Curry]

Grey 1

Do you use fairly generous stops ?

From what I can see the BRCM trade must have gone against you by some 20 cents ( at least on the first part ) before turning down again.

 

[Chicken Curry]

Grey 1

I have been reading " The Complete VWAP strategy" on your Technical Trader forum.

If you no longer use L2, how would you amend that strategy with regards to the fine tuning on trade entry ?

 

[Trader333]

Iraj,

.......I no longer use L2..No need what so ever Thanks to Advanced Technical analysis .

Now you have me very curious indeed


Paul

 

[samtron]

Samtron my man ,

I no longer use L2 .. No need what so ever Thanks to Advanced Technical analysis .. ( was it fundamentalists who said TA does not work HEHEHEHEH load of bull... )

I was late to day but still managed to scalp $713 in two trades . ma ma mia

Cheers Grey1, trading the nasdaq without taking too much notice of L2 , I like the sound of that! now where's this thread on VWAP?

 

[Grey1]

Now this is my final win and i am gonna go for a run and back to answer some of the question .

 

[LevII]

Iraj,



Now you have me very curious indeed


Paul

Me too.
Glad to see you back Iraj
LII

 

[Chicken Curry]

where's this thread on VWAP?

http://www.trade2win.com/boards/showthread.php?t=8325

 

[samtron]

Now this is my final win and i am gonna go for a run and back to answer some of the question .

Grey1 the marathon was yesterday :cheesy:
Anyway just been doing a little research on VWAP. I notice that the TI (no adverising) scanner provides a few VWAP alerts have you tried them G1 and if so are they worth considering.

 

[Jerry Olson]

Now this is my final win and i am gonna go for a run and back to answer some of the question .

Hi Ira

just wanted to post a partial of my actual trades today using smaller lot sizes i am trying to prove to all newbie traders that even with 500 or so shares per trade you can make a days pay...

today i am up $4300+ mostly on RMBS as it opened..

http://www.buyitbuyitsellitsellit.com/OJ2.gif

btw man you can trade a ton............................nice going.......................... :cheesy:

 

[Grey1]

Chicken curry my man ,,
.

There has been Tons of posts on Stop loss, Money management and still perhaps most of the traders don't know how to set an stop in a way that it is not

a) Too tight
b) Too wide

I am posting a screen shot for you and i want you to look at the different position size for each stock for different time frame .

Look at the BRCM pos size.. As the time frame increases the pos size reduces and stop widens dynamically to cater for the volatility of the stock. This is what is called risk management that most people talk about but none seems to understand the foundation of it. ( No disrespect guys honest ).

Going back to your question on why i allowed a wide stop loss on BRCM . The answer is the higher time frame lower pos size hence lesser RISK TO TOTAL CAPITAL .

So as you can see you are reducing the risk on your capital by controlling your pos size ( this in turn is reflected in the stop loss )

I really donot understand some of the coahes who post on this BB and only talk about making loads of $$$ by entering @ X getting out @ Y with no reference to their pos size when the trade is initiated. The name of this game is this .. I I TOOK LOW RISK WITH HIGH RETURN . and [ NOT I TOOK HIGH RISK AND MADE A KILLING . ANY CHILD CAN DO THAT .

Managing risk is Vital .. you either learn it and apply it or market shall dilute your capital and that be the end of ya.

if you still not sure what i mean perhaps you can phone me and I will clear it for ya over the phone . Pm me if not sure buddy


Grey1

 

[Chicken Curry]

Thanks Grey1

That's pretty clear

 

[Trader333]

Iraj,

I see on your screens that you have position size for all stocks that you are monitoring but that only some of them have postions ie "Short" next to them. Is this because you have automated the position sizing requirement based on the stock value and size of your account or is it something else ?


Paul