Trading the US the Naz/Mr. Charts Way
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Salty Gibbon
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They seem to do the biz every day Neil.
Not much need to look at anything else with these 2 strutting their stuff.
I do have a dozen stocks on my watch-list but I always seem to gravitate back to RIMM because of the good and relatively quick moves.
I need the quicker moves as I tend to get restless if these things go on too long.
Not much need to look at anything else with these 2 strutting their stuff.
I do have a dozen stocks on my watch-list but I always seem to gravitate back to RIMM because of the good and relatively quick moves.
I need the quicker moves as I tend to get restless if these things go on too long.
Salty Gibbon
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Sorry JonnyT, I haven't yet reached that happy state of self confidence where I can gleefully trade 1,000 shares at a time on RIMM.
I trade much smaller than that and consequently have no fill problems.
It will be a great day when I can confidently trade 1,000 shares on a stock like RIMM and it will also cut short my trading day because of the need to make rather less trades in order to earn the daily bread.
I trade much smaller than that and consequently have no fill problems.
It will be a great day when I can confidently trade 1,000 shares on a stock like RIMM and it will also cut short my trading day because of the need to make rather less trades in order to earn the daily bread.
Mr. Charts
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The China internets seem to be re-awakening.
It'll be interesting to see if the moves on GEOI and CTXS continue or they bounce today.
Richard
It'll be interesting to see if the moves on GEOI and CTXS continue or they bounce today.
Richard
Mr. Charts
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Google gogglers.
This is a seriously hot stock, of course, and everyone likes to guess where it's going.
Technically it is looking a bit over extended, but may well continue to do so. With broker upgrades to $330 and $350 within the last few days etc., who knows where it will go.
As they say about all bubble stocks.............
I suspect that if and when the first doubts arise, the first not-so-wonderful news or growth expectations are published, we might see the mother of all shorting oportunities.
We'll see. I am not a contrarian. I don't stand in front of oncoming trains. I believe in SEEING the direction they are going in and jumping on board, not in guessing or trying to foretell the future.
With a market cap of $78 billion and a p/e of 112.6 it's looking a trifle rich already, even with all the growth expectations.
A great traders stock, long and short.
Richard
This is a seriously hot stock, of course, and everyone likes to guess where it's going.
Technically it is looking a bit over extended, but may well continue to do so. With broker upgrades to $330 and $350 within the last few days etc., who knows where it will go.
As they say about all bubble stocks.............
I suspect that if and when the first doubts arise, the first not-so-wonderful news or growth expectations are published, we might see the mother of all shorting oportunities.
We'll see. I am not a contrarian. I don't stand in front of oncoming trains. I believe in SEEING the direction they are going in and jumping on board, not in guessing or trying to foretell the future.
With a market cap of $78 billion and a p/e of 112.6 it's looking a trifle rich already, even with all the growth expectations.
A great traders stock, long and short.
Richard
Mr. Charts
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CTXS did nothing and didn't trigger, but GEOI gave me 70c profit in 4 minutes as it headed north after its initial slight pullback.
It's very difficult to take screen shots in a fast moving situation because I'm concentrating on reading the move and level 2 and T&S, but here is the exit point.
Richard
It's very difficult to take screen shots in a fast moving situation because I'm concentrating on reading the move and level 2 and T&S, but here is the exit point.
Richard
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Mr. Charts
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I've merged the threads into one and given it an old familiar name - it was getting a bit disjointed.
Please post to this thread only
Richard
Please post to this thread only
Richard
Mr. Charts
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Re- the comment in post 116 about the China stocks.
I had NTES and another on my radar and when NTES burst north through the whole number and resistance level of $56 I went long.
Chart of exit attached for a $1.77 per share profit.
It's perfectly feasible to trade the evenings with US stocks as long as you don't over trade and just wait for the right stock at the right time.
Richard
I had NTES and another on my radar and when NTES burst north through the whole number and resistance level of $56 I went long.
Chart of exit attached for a $1.77 per share profit.
It's perfectly feasible to trade the evenings with US stocks as long as you don't over trade and just wait for the right stock at the right time.
Richard
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Naz
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Some recent research showed that, believe it or not day traders were missing out by not holding over night.They back tested this and found out how profitable it was!
Yes i know.
As i day trade GOOG every day and get a little peeved recently by missing out on the initial gap on many days i put it to the test and bought late Fri pm.The result was + 769 points yesterday before being stopped out.mmm interesting.I might take it further.
For interest i also re entered for a potential evening run and breakout of the intra day high and got stopped out for +163
Yes i know.
As i day trade GOOG every day and get a little peeved recently by missing out on the initial gap on many days i put it to the test and bought late Fri pm.The result was + 769 points yesterday before being stopped out.mmm interesting.I might take it further.
For interest i also re entered for a potential evening run and breakout of the intra day high and got stopped out for +163
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Salty Gibbon
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I read this post and have pondered on it for a while.
By taking a chance on the opening gap of the next day, are you not changing the nature of the game from one of probabilities to one of pure chance ?
ie. from calculated risk taking to pure gambling ?
I am sure you will argue otherwise and I would be interested in your argument.
But I sure as hell will not be holding GOOG overnight until I can find a way ( if there is one ) to reasonably determine the probable direction of the next day's gap with a pretty high level of confidence. Even if you can do that the whole thing might be scuppered by a piece of surprise news at any point in time before the open.
By taking a chance on the opening gap of the next day, are you not changing the nature of the game from one of probabilities to one of pure chance ?
ie. from calculated risk taking to pure gambling ?
I am sure you will argue otherwise and I would be interested in your argument.
But I sure as hell will not be holding GOOG overnight until I can find a way ( if there is one ) to reasonably determine the probable direction of the next day's gap with a pretty high level of confidence. Even if you can do that the whole thing might be scuppered by a piece of surprise news at any point in time before the open.
Salty Gibbon
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Cool trade by the way.
Did you sweat on it overnight ?
I wouldn't have slept well but there again I am not the trader that you are.
Did you sweat on it overnight ?
I wouldn't have slept well but there again I am not the trader that you are.
Mr. Charts
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Evening trading
One vital aspect of trading in the evening, in my opinion, is to wait for the right trade.
Many people who come home from work are, rightly, enthusiastic to trade. Sometimes that can be overwhelming for them and they start to take poor probability trades. That inevitably leads to poor results and they become disheartened.
Some regard the market as some sort of cash machine they can empty every night. It isn't.
But once or twice a week you get great moves and then you really ring the cash register.
It's a bit like being a sniper, you don't waste your ammo on any old target just because you feel like taking a shot, you bide your time and wait for the right target to present itself.
Just look at WFMI KOMG NGPS SEPR last night.
Richard
One vital aspect of trading in the evening, in my opinion, is to wait for the right trade.
Many people who come home from work are, rightly, enthusiastic to trade. Sometimes that can be overwhelming for them and they start to take poor probability trades. That inevitably leads to poor results and they become disheartened.
Some regard the market as some sort of cash machine they can empty every night. It isn't.
But once or twice a week you get great moves and then you really ring the cash register.
It's a bit like being a sniper, you don't waste your ammo on any old target just because you feel like taking a shot, you bide your time and wait for the right target to present itself.
Just look at WFMI KOMG NGPS SEPR last night.
Richard
Mr. Charts
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Pre-market interest
I've got my eye mainly on
IMCL
RIMM
but also on
CMTL
ELOS
MATK
BIIB
Really ought to get a good mover or two amongst those.
Richard
I've got my eye mainly on
IMCL
RIMM
but also on
CMTL
ELOS
MATK
BIIB
Really ought to get a good mover or two amongst those.
Richard
dod
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I think that 'Evening Trading' analysis is spot on. Patience is the key word. And selectivity. I find it is only too easy to trade the best of a poor selection of setups simply because it strikes me as unreasonable that I should be prevented from trading at all. In fact, athough the next day there might be a galaxy of choices, a week or more could go by without a particular setup occuring.
I don't find watching and waiting that inspiring. I sometimes wonder what traders do to keep themselves focussed. I know someone (not a trader) who spends an hour a day concentrating on his breathing. He's even lent me his CD called "The healing art of conscious breathing". It's a recording of someone breathing for an hour, which the listener is supposed to follow. Evening trading - or watching and waiting - would seem be the ideal time to try putting this into practice. So far, I've managed about a minute, before my attention wanders ...
I don't find watching and waiting that inspiring. I sometimes wonder what traders do to keep themselves focussed. I know someone (not a trader) who spends an hour a day concentrating on his breathing. He's even lent me his CD called "The healing art of conscious breathing". It's a recording of someone breathing for an hour, which the listener is supposed to follow. Evening trading - or watching and waiting - would seem be the ideal time to try putting this into practice. So far, I've managed about a minute, before my attention wanders ...
Mr. Charts
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Something tells me that recording won't get to Number 1
You could choose your stocks, set audible alerts and go watch a candle flicker in a full lotus.
Richard
You could choose your stocks, set audible alerts and go watch a candle flicker in a full lotus.
Richard
dod
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Possibly a half lotus ... though even that is taxing. Actually, what I do do is paint. My paintings are ultra simplistic, involving lots of filling in of colour. It's very absorbing and no problem at all dropping it at a moment's notice if something demands my full attention.
Mr. Charts
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Re post 125
Having a lovely time with IMCL ;-)
Having a lovely time with IMCL ;-)
Mr. Charts
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How I traded IMCL.....1
Before market open I posted mentioning IMCL at the top of my list.
I watched its behaviour when it broke at $34. It was met with clear selling, came back below the whole number, had another attempt north and slipped back. I was also watching level 2, T&S in using my own style and interpretation and could see confirmation of selling pressure so I shorted as shown.
Richard
Before market open I posted mentioning IMCL at the top of my list.
I watched its behaviour when it broke at $34. It was met with clear selling, came back below the whole number, had another attempt north and slipped back. I was also watching level 2, T&S in using my own style and interpretation and could see confirmation of selling pressure so I shorted as shown.
Richard
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Mr. Charts
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......2
Price dropped very nicely to 33.53 and then I saw on level 2 T&S a clear and definite switch of sentiment from selling to buying. You'll notice the chart showed no hint whatsoever of what was about to happen - my micro-analysis told me before the chart could react.
It was so definite I closed the short and reversed long. I think if you have definite rules as I do you must simply apply them - changing your mind is an irrelevant concept in my book. I trade according to my methods regardless of any "opinion" I might have. My "opinion" is of no value in the market. I trade on the basis of what I see.
Richard
Price dropped very nicely to 33.53 and then I saw on level 2 T&S a clear and definite switch of sentiment from selling to buying. You'll notice the chart showed no hint whatsoever of what was about to happen - my micro-analysis told me before the chart could react.
It was so definite I closed the short and reversed long. I think if you have definite rules as I do you must simply apply them - changing your mind is an irrelevant concept in my book. I trade according to my methods regardless of any "opinion" I might have. My "opinion" is of no value in the market. I trade on the basis of what I see.
Richard
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