Mr. Charts
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Already very liquid and heavily traded
One way only as it's an 11830
Richard
One way only as it's an 11830
Richard
Trading the US the Naz/Mr. Charts Way
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Mr. Charts
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Difficult to short - NASD rules
ATVI and maybe SYNA might set up as decent shorts, we'll see.
Richard
ATVI and maybe SYNA might set up as decent shorts, we'll see.
Richard
The Beyonder
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I tend to find that shares that gap up v big, > 10% have little follow through and just flat-line like AUGT and to a certain extent ISON. Smaller gaps like ERES I find work better, though I missed that one looking else where, 
Mr. Charts
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Hello Mangeman,
I do some scalping, but many of my trades are intraday swings.
For example, yesterday I shorted INTU 4c below what proved to be its intraday high and held it for three hours for a 97c profit.
The maximum risk on the trade was just 6c. The risk/reward, as most people would view it, proved to be 1:16. Although I did not know where the price would would fall to, I did know from my methods and microanalysis at the entry point exactly what the risk was to within a cent or so.
This was a relaxing swing trade and because the risk is so small on this type of trade, a larger number of shares can be taken.
The risk on a 100 share size was only $6, on 1000 shares the risk was $60, on a 3000 share size the risk was only $180 (less than £100)
The profits on a beginner trading 100 shares would have been $97
For an experienced trader choosing, say 3000 shares, approx. $2850 to $2900 profit (with that number of shares there were partial fills at slightly different prices).
Richard
PS Since you specifically ask, yes, I do run a distance learning course.
I do some scalping, but many of my trades are intraday swings.
For example, yesterday I shorted INTU 4c below what proved to be its intraday high and held it for three hours for a 97c profit.
The maximum risk on the trade was just 6c. The risk/reward, as most people would view it, proved to be 1:16. Although I did not know where the price would would fall to, I did know from my methods and microanalysis at the entry point exactly what the risk was to within a cent or so.
This was a relaxing swing trade and because the risk is so small on this type of trade, a larger number of shares can be taken.
The risk on a 100 share size was only $6, on 1000 shares the risk was $60, on a 3000 share size the risk was only $180 (less than £100)
The profits on a beginner trading 100 shares would have been $97
For an experienced trader choosing, say 3000 shares, approx. $2850 to $2900 profit (with that number of shares there were partial fills at slightly different prices).
Richard
PS Since you specifically ask, yes, I do run a distance learning course.
Hi
Sounds great, I also trade intraday swings but often i try to stay in a stock as long as I can as long as it goes in the right direction so it could be anything from 1 hour up to several weeks, of course staying overnight ads a risk in bad news and big gap opening.
I usually trade 1000 shares, "cheaper" stocks (like Sun) could be up to 5000 shares but I only trade big cap.
I like semi's right now, Intel looks ok on daily chart and I even look at weekly monthly chart and cycles, semi's almost always hit their low second half ever second (even) year (like they did last year) and go up every uneven year so i'm hoping for a nice long upswing something similar to what they did last uneven year 2003, this is of course for the longer swingtrader.
Looking forward to your email
cheers
Sounds great, I also trade intraday swings but often i try to stay in a stock as long as I can as long as it goes in the right direction so it could be anything from 1 hour up to several weeks, of course staying overnight ads a risk in bad news and big gap opening.
I usually trade 1000 shares, "cheaper" stocks (like Sun) could be up to 5000 shares but I only trade big cap.
I like semi's right now, Intel looks ok on daily chart and I even look at weekly monthly chart and cycles, semi's almost always hit their low second half ever second (even) year (like they did last year) and go up every uneven year so i'm hoping for a nice long upswing something similar to what they did last uneven year 2003, this is of course for the longer swingtrader.
Looking forward to your email
cheers
Mr. Charts
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Rdstagg & Beyonder,
No I didn't get ILSE, but did grab a chunk of ERES.
You could (and you might well do so already) set key kevels on your software alert system to bleep and pop up visually as price approaches your chosen entry level; and/or use a second or even third monitor to park a series of the charts that are on your radar, possibly with lines drawn at the key levels. The latter enables me to see at one glance how several stocks are moving.
Richard
No I didn't get ILSE, but did grab a chunk of ERES.
You could (and you might well do so already) set key kevels on your software alert system to bleep and pop up visually as price approaches your chosen entry level; and/or use a second or even third monitor to park a series of the charts that are on your radar, possibly with lines drawn at the key levels. The latter enables me to see at one glance how several stocks are moving.
Richard
Mr. Charts
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Just a quickie.
News story alerted me to ALTI
Micro analysis of chart, level 2, buy/sell pressures, participant behaviour, Time and sales showed a no brainer:
Long 6.04
Exit 6.36
32c profit in as many seconds
Many here know my normal share size for sub-$10 stocks
This business is not all about charts, imho it's also about reading the market price action properly.
Richard
PS Exit on similar micro analysis, price now way back down at 5.70
News story alerted me to ALTI
Micro analysis of chart, level 2, buy/sell pressures, participant behaviour, Time and sales showed a no brainer:
Long 6.04
Exit 6.36
32c profit in as many seconds
Many here know my normal share size for sub-$10 stocks
This business is not all about charts, imho it's also about reading the market price action properly.
Richard
PS Exit on similar micro analysis, price now way back down at 5.70
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Mr. Charts
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(Re-emails from recently coached people - ALTI was alerted by TINY pre-market comments on briefing.com then no-brainer pattern 1 from "Finding the movers on the day" and teaching example and live screen shot was PENN from 041104.
Currently long AAPL on ORT3 pattern and a dollar plus into profit )
R
Currently long AAPL on ORT3 pattern and a dollar plus into profit )
R
Mr. Charts
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Now $1.50 into profit on AAPL and tightening trailing stop up to guarantee very substantial profits on this one too.
Richard
Richard
Mr. Charts
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Exited half position for $1.60 profit
Mr. Charts
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Out of the rest
Another very good day
Richard
Another very good day
Richard
The Beyonder
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Nice trade Richard.
I didn't trade that one, but having had a look at the chart Iwould have entered around $80 and then quickly got whipped out. A few minutes later it also pulls back sharply before heading higher, so how do you know when it's a good time to enter or do you have a wide stop-loss.
regards
I didn't trade that one, but having had a look at the chart Iwould have entered around $80 and then quickly got whipped out. A few minutes later it also pulls back sharply before heading higher, so how do you know when it's a good time to enter or do you have a wide stop-loss.
regards
Anyone trading Amgen today? what a ride, bought at 63.22, it flew up to 64 on nice volume and passed resistance, then they release some crappy news and the stocks dives to 63.27 and I have my stop at entry level 63.22 at that point, then it turned right back up again now trading around 63.70.
I'd like to se it above 64 and then it should go to 65 but I'm not sure how much damage that news still could do.
I'd like to se it above 64 and then it should go to 65 but I'm not sure how much damage that news still could do.
Mr. Charts
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The Beyonder,
Drop me an email and I'll help.
My post at 812 at 4.19pm saying I was tightening my stop proved to be at the precise high of the day on the one minute candle - to the cent. My micro analysis told me the probability of the move running out of steam at that point was rapidly increasing.
Mangetrader,
I'm not sure why you didn't lock in some profits when the price was rejected the first time from $64.
Hopefully you did exit after price rejection at the same level later....?
"I'm not sure how much damage that news still could do."
IMO, that is expressed purely in the price action so my approach would simply have been to act on the evidence of price movement and not try to make any assessment on the effects of the news. It seems you might be considering how fundamentals "should" affect price. Since sentiment and its manifestation in price action drives short term movement, I personally do not think there is any point in thinking about such "damage" - only in reading its actual effects on price and trading accordingly. Just the way I do things.
Have a good weekend
Richard
Drop me an email and I'll help.
My post at 812 at 4.19pm saying I was tightening my stop proved to be at the precise high of the day on the one minute candle - to the cent. My micro analysis told me the probability of the move running out of steam at that point was rapidly increasing.
Mangetrader,
I'm not sure why you didn't lock in some profits when the price was rejected the first time from $64.
Hopefully you did exit after price rejection at the same level later....?
"I'm not sure how much damage that news still could do."
IMO, that is expressed purely in the price action so my approach would simply have been to act on the evidence of price movement and not try to make any assessment on the effects of the news. It seems you might be considering how fundamentals "should" affect price. Since sentiment and its manifestation in price action drives short term movement, I personally do not think there is any point in thinking about such "damage" - only in reading its actual effects on price and trading accordingly. Just the way I do things.
Have a good weekend
Richard
Hi Richard,
I usually trade the e-minis but am thinking of adapting my methodology to some US stocks. I have a few questions if thats ok?
1) What data feeds do people use for US stocks, what is the coverage like, what is the cost?
2) what broker would you reccomend? Do you trade off a credit account, what margin should / could I expect for day trading?
cheers
David
I usually trade the e-minis but am thinking of adapting my methodology to some US stocks. I have a few questions if thats ok?
1) What data feeds do people use for US stocks, what is the coverage like, what is the cost?
2) what broker would you reccomend? Do you trade off a credit account, what margin should / could I expect for day trading?
cheers
David
Mr Charts
The Amgen trade was actually on a longer time frame, I posted that trade on the swedish forums I use before market open (since I'm new here I don't wan't to try and look like I'm backtrading), I did sell half of the position when it tried again at 64, but (before the news at least) the setup was that it could break up as it did and go to 65, there it should bounce back but most likely break through later and in that case reach 72 (at least), if it breaks 72 then it's set for ATH
that was the plan so I will keep the position I still have (1000 shares) and hopefully it works out, if not I still made a smaller profit on the ones I did sell.
regarding the news I fully agree, the problem is that bad news will always create a spike down and sometimes it will kill any uptrend but sometimes it will just reverse and continue up, in this case I will let the market tell me, I just keep my stops and see what happens.
The Amgen trade was actually on a longer time frame, I posted that trade on the swedish forums I use before market open (since I'm new here I don't wan't to try and look like I'm backtrading), I did sell half of the position when it tried again at 64, but (before the news at least) the setup was that it could break up as it did and go to 65, there it should bounce back but most likely break through later and in that case reach 72 (at least), if it breaks 72 then it's set for ATH
that was the plan so I will keep the position I still have (1000 shares) and hopefully it works out, if not I still made a smaller profit on the ones I did sell.
regarding the news I fully agree, the problem is that bad news will always create a spike down and sometimes it will kill any uptrend but sometimes it will just reverse and continue up, in this case I will let the market tell me, I just keep my stops and see what happens.
Mr. Charts
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I always say to people that in my opinion it is much easier to find trending and bouncing stocks than to trade a handful of instruments like futures/indices. Why, because you have a universe of many thousands of trading instruments - stocks. Huge range of choice.
Yesterday was yet another example. A very flat market in a narrow range, and yet there were stocks that were what I would call no-brainers.
AAPL was strong and trending.
57c in 15 minutes in a very flat market.
Richard
Yesterday was yet another example. A very flat market in a narrow range, and yet there were stocks that were what I would call no-brainers.
AAPL was strong and trending.
57c in 15 minutes in a very flat market.
Richard
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