Trading NASDAQ stocks with Jerry Olson & Ian Hodgson

[Grey1]

Grey1, I could never use TWS for scalping in todays markets. I have had an IB account for a few years, and think that the TWS is antique. It is greatly improved with some of the front-ends that are available, in particular the one from Henry in France, but having to press more than one button to enter or exit your trade is just too slow.
The Laser layout that we use is based on simple one-click entries and exits. You will probably have the demo of it setup today, so I would be very interested to see how you think it compares? I just keep my IB account now as a backup, as I believe any serious trader should have backups of everything that can possibly go wrong. Even access to his/her account!

Thanks Ian ,

SNOWDJ eventually managed to set it up for me as your site was not functioning properly . Now it all works and i am looking into it . It looks awesome just that to do dynamic postion sizing i still have to type the lots . ALL in all , it is much faster than TWS.

I am also told the Stops does not work properly and you are looking into that .

Grey1

 

[Jerry Olson]

Thanks Ian ,

SNOWDJ eventually managed to set it up for me as your site was not functioning properly . Now it all works and i am looking into it . It looks awesome just that to do dynamic postion sizing i still have to type the lots . ALL in all , it is much faster than TWS.

I am also told the Stops does not work properly and you are looking into that .

Grey1

Hi Grey 1 & Snowdj my main men.

In 2 weeks Laser will have a new platform since Genesis is going to start options trading. So all stops will be fixed

Next as for typing lot sizes in, forget that Iraj, Ian will set you up with you're own layout with what ever buttons you need to push for entry.

so we can do what ever it takes to help anyone trade smoothly and effortlessly using these layouts.

even the pros...................................... :cheesy:

 

[samtron]

That might be a scam too...

bluff and double bluff epecially if they send a cheque for 7350 usd dollars by mistake and want the seller to send back a cheque for the balance with the software :cheesy:

 

[samtron]

Hi Grey 1 & Snowdj my main men.

In 2 weeks Laser will have a new platform since Genesis is going to start options trading. So all stops will be fixed

Next as for typing lot sizes in, forget that Iraj, Ian will set you up with you're own layout with what ever buttons you need to push for entry.

so we can do what ever it takes to help anyone trade smoothly and effortlessly using these layouts.

even the pros...................................... :cheesy:

Jerry,
The IB platform is c88p but they do make the depositing and withdrawal of funds for UK based traders a piece og cake, + the esignal integration software for IB is quite slick.

By the way who is on the right and who is on the left?

(stop press teva is approacing upper vwap but dow is + 50 so forget it)

 

[Jerry Olson]

Jerry,
The IB platform is c88p but they do make the depositing and withdrawal of funds for UK based traders a piece og cake, + the esignal integration software for IB is quite slick.

By the way who is on the right and who is on the left?

(stop press teva is approacing upper vwap but dow is + 50 so forget it)

Hiya Samtron

same with Genesis easy in and out for world wide traders. We have the same connect deal with Esignal very important to me and the traders. They also connet to Trade_Ideas as well.

Moving money around is not a problem ever...we have a bunch of UK guys in the group now using Laser....

 

[Grey1]

Today's report,

I had a guest here to discuss Trading and we made $606 in few min which we gave back $60 of it , SO While my guest was here we made only 3 or 4 trades and we were up $546 and i traded RMBS short to give me extra $229.82 . SO the total win for the day was $546+$229= $775 for only few min work . I cannot post the final screen from the IB because while my guest was here we had to reboot and those who use IB know that in the new window it does not show the previous P/L.

All in all i met a nice guy . Pretty advanced trader and very sharp person .

AMIN

grey1

 

[Jerry Olson]

Today's report,

I had a guest here to discuss Trading and we made $606 in few min which we gave back $60 of it , SO While my guest was here we made only 3 or 4 trades and we were up $546 and i traded RMBS short to give me extra $229.82 . SO the total win for the day was $546+$229= $775 for only few min work . I cannot post the final screen from the IB because while my guest was here we had to reboot and those who use IB know that in the new window it does not show the previous P/L.

All in all i met a nice guy . Pretty advanced trader and very sharp person .

AMIN

grey1

Hi Grey 1

trust me, we'll all trust you..................... :cheesy:

and yes sir, he is such a nice person, i wish him and his friends all the best

thanks for your continued support for the room and it's members

 

[Glenn]

Today's report,

I had a guest here to discuss Trading and we made $606 in few min which we gave back $60 of it , SO While my guest was here we made only 3 or 4 trades and we were up $546 and i traded RMBS short to give me extra $229.82 . SO the total win for the day was $546+$229= $775 for only few min work . I cannot post the final screen from the IB because while my guest was here we had to reboot and those who use IB know that in the new window it does not show the previous P/L.

All in all i met a nice guy . Pretty advanced trader and very sharp person .

AMIN

grey1

Hi Grey1
I take it that none of those trades were pair trades or based on VWAP, presumably because the market was strong.
You seemed to be long above and short below vwap.
Is that right ?

Regards
Glenn

 

[snowdej]

Thanks

Today's report,
I had a guest here to discuss Trading
grey1

Well a very very enlightening day it was...

I also met a top notch guy - Grey1 really knows his stuff

His confidence in the trades he takes is something that you can see in his posts (and results) however to sit and watch the man in action... wow

I am learning as quick as possible... and hope to become an active contributor to this forum in the fullness of time.

Thanks for a great day Iraj

 

[snowdej]

Still learning

Hi Jerry

You know the last few months have been a steep learning curve..

I am constantly amazed by...
- How people offer to help
- The insight that is gained from listening and watching the "old hands" :cheesy:
- The diversity of trading style - all of which show there is a way to create our "own" style

I am trying hard to catch you all up

But I feel like I am getting there- at least i got the outline of the jigsaw..

Regards

Julian

 

[snowdej]

reboot!

Today's report,
I cannot post the final screen from the IB because while my guest was here we had to reboot and those who use IB know that in the new window it does not show the previous P/L.

grey1

Well we can all guess who wanted the reboot can't we.

Well at least I helped Grey1 in return by setting up laser/genesis and speeding the PC up a little.....

But guys - Grey1, like Jerry, is a straight up trader...

Jools

 

[TheBramble]

Sounds like I'm missing out big time. Where is this room? Who do I pay?

 

[Jerry Olson]

Hi Jerry

You know the last few months have been a steep learning curve..

I am constantly amazed by...
- How people offer to help
- The insight that is gained from listening and watching the "old hands" :cheesy:
- The diversity of trading style - all of which show there is a way to create our "own" style

I am trying hard to catch you all up

But I feel like I am getting there- at least i got the outline of the jigsaw..

Regards

Julian

Hi Jools.............................. :cheesy:

My dear friend, it will take awhile to make this work, but time is on your hands. Like i've said dozens of time to everyone in the room, the tuition we all had to pay to learn our craft is far cheaper than any cost of a college education these days.

So in the long run while most new traders lose money early on it's a necessity to stick it out and pay that tution for the end results that are so incredible so rewarding.

I know it will not take you long to accomplish this, and with Iraj in your corner and me pounding everyone to sell too soon, you'll be an excellent pro trader in no time.

You know Jools when i first introduced this to my wife Inna she was a blank page. Never even knew what a chart or trading was all about. But after sitting next to me for months on end and watching and learning all the set ups she has become an amazing trader using small shares each trade. She banged out $1350.00 today and was all smiles.

I wanted to say what Iraj did for you today is a wonderful thing. I only wish we could all be in the same room together each day in person to trade each trade and fight the good fight.

When i talked about Osmosis i was not kidding. Watching a pro trader day in and day out can make you fully understand how we think and why we do the things we do.

But obviously that cannot happen. So we have the next best thing and that's the Real Time Trading Room for all to participate day in and day out.

Jools let me say right here and right now, my money is on you!!!

best of luck and please send my regards to Nigel and Paul

your friend

jerry

 

[Grey1]

Well a very very enlightening day it was...

I also met a top notch guy - Grey1 really knows his stuff

His confidence in the trades he takes is something that you can see in his posts (and results) however to sit and watch the man in action... wow

I am learning as quick as possible... and hope to become an active contributor to this forum in the fullness of time.

Thanks for a great day Iraj

Snow my man ,

It was a pleasure to spend few hours with you . I coached some one in 1999 and you were the second person I ever coached. I think i managed to show you what RISK meant and how one could control risk by dynamic position sizing and also showed you how to precisely see the momentum exhaustion and the reversal of the trend right in front of your eyes.

Some time it makes me laUGH when i read people say stock X is HOT .. it is not a Burger you know . There is not any major differences between stocks. Those who are more volatile ( if this is what they mean by HOT ) then they carry more risk with them .. so one as a trader should be able to manage the risk of trading SUCH STOCKS properly to be able to tame them . RISK MANAGEMENT IS ABOUT TAMING VOLATILITY , WHICH IN TURN WILL AFFECT YOUR STOP LOSS LEVEL AND IN TURN WILL AFFECT YOUr RISK LEVEL . THERE IS LITTLE POINT IN ARGUING WHERE TO PUT STOP IF YOUR POS SIZE CARRY HUGE RISK RELATIVE TO YOUR TOTAL CAPITAL .

A trader is not a Trader if he is blind to risk management.

 

[snowdej]

UK tour?

When i talked about Osmosis i was not kidding. Watching a pro trader day in and day out can make you fully understand how we think and why we do the things we do.

But obviously that cannot happen. So we have the next best thing and that's the Real Time Trading Room for all to participate day in and day out.

jerry

Hello Jerry,

Well when you come over to the UK that can happen too... when you get used to the time zone, you will even manage to have a lie in bed on a morning!

Kind regards

Jools

 

[Grey1]

Not an ideal day as the pair trade RIMM against AAPL did not turn out as well as i thought it should have , how ever my risk algorithm stopped APPL hurting me as RIMM paid off in return . The correlation factor between RIMM and APPL weaken d and i tried to find out what the reason was but still no idea . A nice directional trade on OTVI and what a signal from the mighty mighty VWAP engine

AMIN

 

[Grey1]

To all memebr of T2W.

Thanks for your emails and Pms . I now have received over 250 emails asking on the VWAP system / risk management / pair trading . I have out lined all the strategy in detail on this BB . I really appreciate if you read it first as I simply am not able to reply to all 250 emails . Please don't get offended as i mean no harm just that i simply don't get the chance to reply . I however will answer any questions on the BB for the benefit of all .

Grey1

 

[Jerry Olson]

Not an ideal day as the pair trade RIMM against AAPL did not turn out as well as i thought it should have , how ever my risk algorithm stopped APPL hurting me as RIMM paid off in return . The correlation factor between RIMM and APPL weaken d and i tried to find out what the reason was but still no idea . A nice directional trade on OTVI and what a signal from the mighty mighty VWAP engine

AMIN

HI Vwap

we certainly identified the OVTI trade and upgrade early for the room. many traders nailed it more than 3-4 times during the day, me included...

I did one of my countertrend trades on AAPL and came out ok later on after adding on the way down below my entry. I did mention in the room that was a Pro only type trade...

let's rock this afternoon...

 

[Jerry Olson]

HI Vwap

we certainly identified the OVTI trade and upgrade early for the room. many traders nailed it more than 3-4 times during the day, me included...

I did one of my countertrend trades on AAPL and came out ok later on after adding on the way down below my entry. I did mention in the room that was a Pro only type trade...

let's rock this afternoon...

Here's the last trade we made live on PEIX
=========================================================================
(2:14 PM) Earl the Pearl: i knew i was tracking SLB lol
(2:14 PM) KerriM: peix drop
(2:17 PM) ovetus: JBL very nice setup, i like it for a swing long
(2:17 PM) Earl the Pearl: Q's still coming down
(2:17 PM) ovetus: JBL has ps down at 40.1798
(2:19 PM) Earl the Pearl: Juan any thoughts on RMBS?
(2:20 PM) ovetus: long JBL 40.27 for a swing >>>>>
JerryO3434: LONG PEIX AT 37.08
(2:20 PM) screenshot: L ER 65.20
(2:21 PM) screenshot: life is a beach lol
(2:21 PM) majdog: n
(2:21 PM) mplsrmt: 14:21 OSK Oshkosh Truck: Mgmt being conservative, still upside to 2006 guidance - Reuters (55.41 +0
(2:21 PM) mplsrmt: 14:21 PDX Pediatrix Medical tgt raised $55 from $48.50 at Ryan Beck (50.01 -0.44) -Update
(2:24 PM) screenshot: OUT ER +.70
(2:24 PM) screenshot: hehheeh baby
(2:24 PM) itsmevu_: gj
(2:27 PM) screenshot: YM coil
(2:27 PM) karin_60: in Peix
(2:27 PM) karin_60: 36.90
(2:27 PM) Earl the Pearl: ICE nice today
(2:28 PM) karin_60: out
(2:28 PM) karin_60: 37
(2:28 PM) karin_60: chicken
(2:28 PM) ovetus: SNDK suport 60.05
(2:29 PM) seward: long peix 37 stop .70
(2:29 PM) seward: stop .90
(2:29 PM) ragic_1: ovti starting to move
(2:30 PM) ovetus: CIB>Banco Colombia, not doing so good, hit hard
(2:30 PM) ovetus: CIB lomosky
(2:31 PM) ovetus: CIB hit
(2:31 PM) Earl the Pearl: still coming down
(2:31 PM) mplsrmt: 14:29 BSC Bear Stearns extends afternoon slide nearing early low (138.23 -1.98) -Technical
JerryO3434: watch rmbs at 35.,80
(2:34 PM) ovetus: my Trurkish Wireless Company (only one in Wall Street) going up,, TKC go baby
(2:34 PM) ovetus: is a 17.50 dollar stock that pays a .55 cents dividend in cash plus 20 % in stock
(2:34 PM) mplsrmt: 14:29 BSC Bear Stearns extends afternoon slide nearing early low (138.23 -1.98) -Technical
(2:34 PM) ovetus: not bad+
(2:34 PM) mplsrmt: 14:34 CTSH Cognizant Tech tgt raised to $70 from $58 at RBC (67.10 +6.04) -Update
(2:34 PM) screenshot: YM Baby
(2:34 PM) screenshot: go go go
(2:35 PM) screenshot: coil coil
(2:35 PM) Earl the Pearl: sndk trying to bounce off support level
(2:35 PM) brownbear_1: green ???
(2:35 PM) brownbear_1: i hear ya
(2:36 PM) mplsrmt: green means possitive?
(2:36 PM) brownbear_1: lol
(2:36 PM) brownbear_1: i'll take it
(2:36 PM) cashmarket: green-span means market killer
(2:36 PM) stann8: jerr will you use the 35.60 level on rmbs for a stop if we break 35.80
(2:36 PM) brownbear_1: oh yeah
(2:37 PM) ovetus: on my swing JBL, i expect it to trade near 41.80 next days
(2:37 PM) ovetus: now 40.35
(2:37 PM) ovetus: very nice setup JBL
(2:37 PM) cashmarket: jaun i need a bridge ;O)
(2:37 PM) ovetus: a powerhouse
(2:38 PM) ovetus: a b ridge or patience?
(2:38 PM) cashmarket: i though bridge was vacation...lol
(2:38 PM) mplsrmt: 14:38 PBR Petrobras Brasileiro CEO says studying LNG imports after Bolivia energy nationalization - Reuters (100.19 -1.98
(2:38 PM) ovetus: oh i see
(2:38 PM) ovetus: yes y ou r right
(2:38 PM) ovetus: means vacation here
(2:38 PM) cashmarket: thats sounded like the budweiser frogs...lol
(2:39 PM) ovetus: bridge
(2:40 PM) mplsrmt: Crude fell $2.31 to $72.30pbl; natty fell 14 cents to $6.61mbtu; heating oil fell 7.28 cents to $2.0060/gal; gasoline fell 8.61 cents to $2.0890/gal; RBOB gasoline fell 4.5 cents to $2.28/gal
(2:40 PM) Earl the Pearl: nice setup juan JBL....
(2:41 PM) screenshot: go ym go go
JerryO3434: SOLD PEIX AT 37.25
(2:42 PM) karin_60: I did
(2:43 PM) Woolly Bully: y
(2:43 PM) seward: y
(2:43 PM) KerriM: trying 100 sh
(2:43 PM) ferniee3: got it
(2:43 PM) seward: at 37
(2:43 PM) screenshot: L ER 67.40
(2:43 PM) mplsrmt: rimm
(2:43 PM) screenshot: yep looking GOOOOOOD
(2:44 PM) mplsrmt: 14:44 NYMEX boosts margin on gold contract to $2750, boosts silver contract margin to $6000 - Bloomberg
(2:45 PM) screenshot: out ER + ..90
(2:45 PM) seward: out at 37.27 for .27
(2:45 PM) screenshot: hheheheh
(2:45 PM) screenshot: ty
(2:46 PM) brownbear_1: hey jer - we starting up
(2:46 PM) mplsrmt: 14:45 FRPT Force Protection, Inc. Receives $50 Million Contract for Cougar Armored Vehicles (2.35 +0.41)
(2:46 PM) screenshot: got pounce quick
(2:46 PM) brownbear_1: es looks a little better here
(2:46 PM) ovetus: yellow metal
(2:46 PM) screenshot: hola compadre
(2:47 PM) karin_60: hola, quetal
(2:47 PM) ovetus: JBL (jumbo jet ) taking off
(2:47 PM) ovetus: slow but sure
(2:47 PM) ovetus: Karin
(2:48 PM) ovetus: como estas?
(2:48 PM) karin_60: bien
(2:48 PM) karin_60: et tu
(2:48 PM) karin_60: muy bien
(2:49 PM) ovetus: lol
(2:49 PM) screenshot: please dont sing the national anthem tho
(2:49 PM) seward: subamos ahora mismo
(2:49 PM) cabtrader:
(2:49 PM) cabtrader: serà?
(2:49 PM) KerriM: out nvda .40
(2:49 PM) screenshot: ym baby go go go
(2:49 PM) ovetus: just to enrich the room atmosphere Jerrr
(2:50 PM) screenshot: maybe this time
(2:50 PM) KerriM: not nvda - out peix
(2:50 PM) ovetus: nice trade
(2:50 PM) KerriM: still in nvda...
(2:50 PM) karin_60: like the chart formation
(2:50 PM) ovetus: JBL next 40.60
(2:50 PM) karin_60: on the 5
(2:50 PM) ovetus: TZOO holding finally
(2:51 PM) BarbaraT1: back for a bit .. screen - did you get out of your YMs
(2:51 PM) mplsrmt: 14:50 ERTS Electronic Arts: Earnings preview (54.02 -.52)
(2:51 PM) seward: pops in the am
(2:51 PM) seward: craps after 10
(2:51 PM) seward: cst
(2:53 PM) screenshot: no Barb, NO REASON
(2:54 PM) mplsrmt: 14:54 WOLF Great Wolf Resorts -- Small Cap Profile (11.75 +0.42
(2:54 PM) BarbaraT1: k - thought it had bounced in my absense

 

[Grey1]

The final P/L is + $ 816.67 .. I all turned out to be good .

I am going to contribute some thing about Do's and DO NOT' s for intra day traders .,, later on for all our young traders. I first need to go for a run other wise my URIC ACID will break out to a new high lol