Trading the US the Naz/Mr. Charts Way

[Newtron Bomb]

When you know the rules to a game it is simple to follow... learn the rules for CFD's the D4F way and you will make money.

NB

 

[rdstagg]

tony
Listen to Mr Charts - merq Missed estimates - doesn't matter that they were up.
The reaction was in the price action.

Rd

Quote : MERQ - Classic Case
This is a classic case of the market responding counter-intuitively to the news.

Incredible Q2 results 35% up good, good, good, and it open down $6.48 at $36.25 (or $38.50 if you're looking at DAE).

Anyone care to speculate why that is?

tony
__________________

 

[keano]

keano,

I'll be interested to hear you experiences.

LII

Well. I've been spreadbetting for 3 days now, using deal4free. I am experimenting just for fun, really. £1 per point on all trades. trading the Dow and US stocks. I just wanted to see how i found it. Here are my results:
Long dow +12
short Naz100 +10
long dow +26
long MER +32
long DOW +15
Short Dow +110
long NVLS (-56)
long dow +33
long dow +17
long dow +31
Short DOW +30
Long PAYX +27
Long Dow +15
Short Dow (-15)
Short Naz100 (-10)

My only bad experience was today. I attempted to buy PAYX. I was sat looking at a 'deal pending' screen for about 12 seconds in which time the stock had moved up about 14c. I was not used to this!! I guess spreadbetting companies are more suited to the slightly longer term trader. I think, however, that money can be made even in the short term if you are a good trader. (Not that i'm saying I am) Anyways. That's it from me for now. I think that my friend comes back from Holiday tomorrow and is gonna want his computer back!

 

[Naz]

I've just been scalping this afternoon,because i've been bored.I took a run out of that new IPO thats hot, "BUCY",but its seems to have dried out now and i noticed that Goldman who had a hand in bringing it to market was selling at the highs on level 2 when the major move was over.

The evening move today for me today was PDCO charts attached.I've just been stopped out on this.

 

[LevII]

Keano,

Impressive. Were these all very short term trades?

I agree D4F is a good platform for longer term trades. Lots of margin, reasonable interest on rolling cash bets, interest paid on short trades, spread matters much less and no tax.

 

[DavidS]

Anyone in the market today? Plenty of good opportunities around it seems.

 

[Mr. Charts]

Oh yes !!!
A fabulous day with UTSI and CECO )))
Richard

 

[rdstagg]

Yes ceco and utsi v nice indeed thank you.
Also lscp and pcle.
Still managing to misread L2. I trade better without it - very strange.

Russell

 

[GirlPower]

...and APOL and ASKJ.

But does anyone post their live trading calls ahead of the action?

Or isn't that the done thing?

 

[Trader333]

Yes I do as do others on here and have done several times. The most recent of mine being on these three links which I posted the executions for and then explained why I traded them. Note that one of the stocks I traded twice.


http://www.trade2win.com/boards/showpost.php?p=107047&postcount=921

http://www.trade2win.com/boards/showthread.php?p=107157#post107157

http://www.trade2win.com/boards/showpost.php?p=107679&postcount=944



Paul

 

[Mr. Charts]

Hi Felicity,
Read through this entire thread, there are more answers than questions;-)
Richard

 

[rdstagg]

I am not in the same league as Mr Charts or Trader333 - however I find it v difficult to execute,manage and close the trade whilst at the same time firing off an email to this board.
I understand your suspicion (trading is easy with hindsight) but I have made more than enough mistakes to cover that.
Worst trades yesterday eght and wbsn
You are more than willing to come and watch!

Russell

 

[Trader333]

rdstagg,

Why did you trade EGHT as it is very low in price at $1.93 and only traded 700K shares which is also too low in volume for me to consider ? Getting any real profit in this stock without huge size was going to be highly unlikely in my view.


Paul

 

[rdstagg]

Yep - its called being a moron

 

[Trader333]

rdstagg,

Dont be so hard on yourself, all of us are learning and in my view the key is to learn from mistakes made. It is only if you dont learn from previous errors that you could grant yourself this title.


Paul

 

[rdstagg]

T333 et al

No, its just very frustrating. And I DO repeat errors and that makes me feel real small. But I am getting better.
I am spending a huge part of my time trying to automate trading in tradestation.
I have the entry now and a first profit exit and a stop loss but I can't programme the myriad other reasons to exit (eg spikey volume, wide ranging bars, etc).
My current feeling is to let TS automate the entry, stop loss and first profit and then manage the trade myself.

RD

 

[Mr. Charts]

I posted my early "scalp" trades y'day here:
http://www.trade2win.com/boards/showpost.php?p=121494&postcount=41
and had some emails suggesting they were only successful because the market sold off for the first half hour.
That is irrelevant to this type of trade which is about integrating stock selection with reading sentiment on level 2, charts, T&S.
My first trade today was based on those same concepts.
These moves are readable on sentiment, there is nothing to see on the charts in that first minute of trading. This again emphasises how there is safe money to be made in the opening minutes - contrary to popular opinion.
This time they produced 68c/share in under a minute without the stock ever moving one single cent against me.
For those trading 500 shares = $340
1000 = $680
2000 = $1360
Richard

 

[Newtron Bomb]

Richard,

Brilliant stuff.
If I want to make lots of $$ from a stock that is going to move then I want to trade it when it is most likely to do so. For me this is off the open. I will only trade off the open as this provided me with ample opportunities trade even with a small basket of stocks. My day can and has been done (for trading NASDAQ) in the first hour of trading.

Regardless of the market selling off or ranging from the open I can make $$

Happy Trading
NB

 

[owl1963]

Short GENZ

Short GENZ 44.86

An interesting short, I used Quote.com ,very cost effective. I utilise "Quotetracker" ( search for installation link via GOOGLE) ,this gives ISDN level 2 free and also level 1 for no charge.
Quotetracker is very good . I currently use the basic system from www.money.net, the market heat is useful, along the lines of the NASDAQ site and the realtime streaming charts.
I shorted Genentech, and made a small profit. The overall longer-term charts for the Biotechs look to be forming market bottoms: AMGN?. I follow Genzyme, recently turned down a job there.
I trade 70% healthcare, its what I,ve done for 20 years!

Swap notes by all means : my email or via the BB, E; [email protected], Andrew Clarke..

 

[Mr. Charts]

Hi Andrew,
Welcome to this thread.
I actually traded AMGN long soon after the open today for a nice rise.
Nice to see a new contributor
Richard