Best Thread US day traders thread.
Naz
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Hi Seguna,
I've been on holiday, then doing a lot of trading.Talked to Richard and he's been trading as well.You have to remember we both trade the Nasdaq for a living.Which means we can't hang around the bb's all day.
Going on to trading, these are my own thoughts that many i'm sure many will disagree with.but for some others it might help.
This is just a general example only to show a point,nothing else.
Some might say leave the first hour alone,others consider this is wrong.So the new trader does this and waits for the first hour to pass after the strong move has occurred.In his/her mind that strong move has confirmed the opinion that the stock is going up and they try then to make money by trading the break out of the last major high,because thats what common trading perception has taught them.Only after this strong move we are now taking a breather and going sideways, every move up is followed by a drift down.So the trader buys at the highs and gets stopped out as the stock drifts down taking loads of small losses.Its hard to change ones perception of what the stock is now doing if a traders mind has emotionally seen a strong move and trading break outs of the last highs has been indelibly printed in his/her sub conscious by lots of trading books.
This just an example of how two myths and a traders sub conscious feelings have clubbed together and caused him/her to take a string of small losses for the day,give up just before the next big move comes for the US afternoon run.
In the US the day trading opportunities are there,its working at your own carefully thought out trading plan as to how you are going to take advantage of these and re affirming that plan so that it becomes part of your subconscious,that under pressure your conscious mind feels obligated to carry out.
Naz
I've been on holiday, then doing a lot of trading.Talked to Richard and he's been trading as well.You have to remember we both trade the Nasdaq for a living.Which means we can't hang around the bb's all day.
Going on to trading, these are my own thoughts that many i'm sure many will disagree with.but for some others it might help.
This is just a general example only to show a point,nothing else.
Some might say leave the first hour alone,others consider this is wrong.So the new trader does this and waits for the first hour to pass after the strong move has occurred.In his/her mind that strong move has confirmed the opinion that the stock is going up and they try then to make money by trading the break out of the last major high,because thats what common trading perception has taught them.Only after this strong move we are now taking a breather and going sideways, every move up is followed by a drift down.So the trader buys at the highs and gets stopped out as the stock drifts down taking loads of small losses.Its hard to change ones perception of what the stock is now doing if a traders mind has emotionally seen a strong move and trading break outs of the last highs has been indelibly printed in his/her sub conscious by lots of trading books.
This just an example of how two myths and a traders sub conscious feelings have clubbed together and caused him/her to take a string of small losses for the day,give up just before the next big move comes for the US afternoon run.
In the US the day trading opportunities are there,its working at your own carefully thought out trading plan as to how you are going to take advantage of these and re affirming that plan so that it becomes part of your subconscious,that under pressure your conscious mind feels obligated to carry out.
Naz
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Bidu
Judging from the point where you went long, you probably held for over two hours. As I know you to be a daytrader, sometimes holding only for minutes, can you share why you were able to hold for this long especially noting that over the 2 hr period there were three 2$ pullbacks which were tradeable in themselves.
Great TradeNaz said:
Judging from the point where you went long, you probably held for over two hours. As I know you to be a daytrader, sometimes holding only for minutes, can you share why you were able to hold for this long especially noting that over the 2 hr period there were three 2$ pullbacks which were tradeable in themselves.
Naz
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Day trading by the very name is trading through out the day.It dosnt matter if a trade is 2 min long or 2 hours long.So one might sit there grabbing small moves and adding them up or elect to go for the longer run.Yesterday i elected to go for the longer run.If a stock runs $10 in 2 hours it has to pull back a few times to get there.Getting through the pull backs is part of the game.
I would argue as BIDU had already run strongly on the previous trading day, then if it exhibited the right potential the next day for a continuation,why muck around taking 20c here or 30c there.The stock has already flagged up what its got the potential to move in a day.Go for it, its another trading opportunity.
Most other markets dawdle along so many traders get used to taking small bits because thats all their chosen market gives them.The bigger moves are all part of trading the Nasdaq.When they're there you grab them.That's why it can be traded for a living because bigger moves exist.
Naz
I would argue as BIDU had already run strongly on the previous trading day, then if it exhibited the right potential the next day for a continuation,why muck around taking 20c here or 30c there.The stock has already flagged up what its got the potential to move in a day.Go for it, its another trading opportunity.
Most other markets dawdle along so many traders get used to taking small bits because thats all their chosen market gives them.The bigger moves are all part of trading the Nasdaq.When they're there you grab them.That's why it can be traded for a living because bigger moves exist.
Naz
compoundup
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Good afternoon all.
I haven't been active on T2W for a long time but came in for a look-see on what has turned out to be a lacklustre trading session for me so far. This was my first day back on the Nasdaq for a while, not least because of the Ashes where £36m was matched on Betfair on the 5th Test alone. Wonderful day-trading opportunities with entertainment to boot.
I digress.
Having quickly read through this thread I see some recent sceptical postings about whether anyone would admit to successful trading for a living and would acknowledge that their skills are based on 1-2-1 training.
I do.
I had my first session with Richard in September 2003, a day seminar with Richard and Alan together in January 2004 and my second 1-2-1 with Richard in January this year. I trade for a living in 3 environments based on my study with them and others. I find after many months that my Nasdaq trading strategies still align pretty closely with the methods that Richard uses and when I analyse completed trades, the ones that have gone against me are usually where I have failed to keep to my own rules.
If you want an acid test for the value of 1-2-1 trading, consider how much money you are prepared to lose in place of having the benefit of a leg-up the learning curve from someone who has been studying the markets for years. Let's say you aspire to margin trading the Nasdaq - that's $25k on account - say $30k for comfort or £18,000. For that size of account I reckon a setup-up cost of 10% was worthwhile. I've certainly earned it back from what I learned.
Edward
I haven't been active on T2W for a long time but came in for a look-see on what has turned out to be a lacklustre trading session for me so far. This was my first day back on the Nasdaq for a while, not least because of the Ashes where £36m was matched on Betfair on the 5th Test alone. Wonderful day-trading opportunities with entertainment to boot.
I digress.
Having quickly read through this thread I see some recent sceptical postings about whether anyone would admit to successful trading for a living and would acknowledge that their skills are based on 1-2-1 training.
I do.
I had my first session with Richard in September 2003, a day seminar with Richard and Alan together in January 2004 and my second 1-2-1 with Richard in January this year. I trade for a living in 3 environments based on my study with them and others. I find after many months that my Nasdaq trading strategies still align pretty closely with the methods that Richard uses and when I analyse completed trades, the ones that have gone against me are usually where I have failed to keep to my own rules.
If you want an acid test for the value of 1-2-1 trading, consider how much money you are prepared to lose in place of having the benefit of a leg-up the learning curve from someone who has been studying the markets for years. Let's say you aspire to margin trading the Nasdaq - that's $25k on account - say $30k for comfort or £18,000. For that size of account I reckon a setup-up cost of 10% was worthwhile. I've certainly earned it back from what I learned.
Edward
Naz
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I see Goldman is out saying BIDU is worth $27,whilst a couple of days ago a Japanese broker is reportedly said to have given it a $200 target.
Any way its setting up for a nice $20+ gap today if things keep on like they are right at this moment.
Attachment shows pre and post market activity.
Any way its setting up for a nice $20+ gap today if things keep on like they are right at this moment.
Attachment shows pre and post market activity.
Attachments
Naz
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GOOG had a nice move yesterday.
From the chart you can see that lower highs came in all morning,continued during lunch.Then took out the low of the day for the afternoon run.Spot on 2pm est it came back and kissed old support good bye before falling all afternoon.What an interesting looking chart.
From the chart you can see that lower highs came in all morning,continued during lunch.Then took out the low of the day for the afternoon run.Spot on 2pm est it came back and kissed old support good bye before falling all afternoon.What an interesting looking chart.
Attachments
Naz
I guess you held long because you did not see anything on the micro level to alert you to get out?
:|
Thanks for this response but it wasn't quite what I was asking. I was not faulting your decision to go for a longer bigger trade, I just wanted to know why, since most of your posted trades use Nasdaq Level II which lends itself to much shorter time frames.Naz said:
I guess you held long because you did not see anything on the micro level to alert you to get out?
:|
Hi NazNaz said:
Just to be sure I'm not missing something, what's nice about the $20 gap down unless you are already in the market and short?
Has anyone else noticed that over the last few days, after two quietish weeks, volume in BIDU has picked up hugely and so has the daily price range?
seguna said:
Seguna, I thought NAZ answered the question perfectly clearly.
Why do I get the impression that some seem to question everything that NAZ and MR CHARTS post? If you look back over various posts I remember reading from one of them that using a scalpers entry for timing but looking for the larger intra-day swings is a very good way to trade...I trade AMGN, RIMM, GOOG and that's very true for them as it is i'm sure for many NASDAQ stocks.
I've learnt more from their posts about Nasdaq L2 and intra-day chart reading than from the numerous books i've read and speakers i've listened to. I've never met or spoken to either of them, exchanged posts or paid for any 1to1 training...i've just followed their posts on these boards for a year and spent £20 on a couple of cd's by NAZ which are fantastic value and highly recommended.
I broke even in my first 10 months after trading mostly UK stocks/CFD's but have now switched to direct access NASDAQ/L2 and it's another world!
If I fail to make a living from trading it will be no-one's fault but my own and will not be for the lack of effort.
NAZ/MR CHARTS..on behalf of what I suspect is a silent majority, please keep up the good work and great posts!
Naz
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Thanks for the support rich64.
I know the silent majority are out there getting on with it because we both receive so many e mails from people that are doing it but dont want to get into a slanging match on the boards.
The trouble with the writing on the bb is that sometimes that inoccent questions can come over the wrong way and i think this might be a case in point so i'm going to compose a quick reply.
Hold on.
I know the silent majority are out there getting on with it because we both receive so many e mails from people that are doing it but dont want to get into a slanging match on the boards.
The trouble with the writing on the bb is that sometimes that inoccent questions can come over the wrong way and i think this might be a case in point so i'm going to compose a quick reply.
Hold on.
Naz
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Hi Seguna,
Sorry if i mis understood you, re the longer trade.
Naturally many focus on the very short term movements when they day trade and level 2 is an excellent tool to do this with.If nothings happening yes i'll have to go and grab a little here and some there and build up my profits that way using that style.
However there are many different other ways of making your days money.
If a stock like BIDU is gaping down pre market on huge volume pre market then a trader will have different set ups to play the gap movers.
If a stock like GOOG is falling like it was yesterday and setting up for an afternoon collapse then the chart gives a excellent large picture of whats happening.However if you want to see very closely the point at which it kisses the old support good bye and collapses i'd be looking at the reaction on the level 2 screen for the rejection of that level and to take my trade with minimum risk.So in that instance i'm using t/a and level 2.
Many traders start by over trading and grabbing the very small moves i believe that a day trader should have an arsenal of options up their sleeve and level 2 is just part of that arsenal.Thats why on T2W i have a course which shows 25 of the best intra day chart set ups and strategies available for day traders to profit from.Things that i play day after day.Anyone can pm me if they want details.
Naz
Sorry if i mis understood you, re the longer trade.
Naturally many focus on the very short term movements when they day trade and level 2 is an excellent tool to do this with.If nothings happening yes i'll have to go and grab a little here and some there and build up my profits that way using that style.
However there are many different other ways of making your days money.
If a stock like BIDU is gaping down pre market on huge volume pre market then a trader will have different set ups to play the gap movers.
If a stock like GOOG is falling like it was yesterday and setting up for an afternoon collapse then the chart gives a excellent large picture of whats happening.However if you want to see very closely the point at which it kisses the old support good bye and collapses i'd be looking at the reaction on the level 2 screen for the rejection of that level and to take my trade with minimum risk.So in that instance i'm using t/a and level 2.
Many traders start by over trading and grabbing the very small moves i believe that a day trader should have an arsenal of options up their sleeve and level 2 is just part of that arsenal.Thats why on T2W i have a course which shows 25 of the best intra day chart set ups and strategies available for day traders to profit from.Things that i play day after day.Anyone can pm me if they want details.
Naz
Mr. Charts
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Thank you very much to timsk for the review of my course in the seminar section and your comments here.
Also thanks to compoundup and tokio for your comments.
And to rich64 - I'm very pleased you've found some posts of real value to you - and for the rest of your post -
I agree with you.
I repeat what Naz said, I too have received a lot of emails of appreciation from people who, very understandably, simply do not want to post and get involved in the sniping and pettiness that appear on these boards. They just want to get on with the business of making their profits every day trading the way Naz and I teach.
Richard
Also thanks to compoundup and tokio for your comments.
And to rich64 - I'm very pleased you've found some posts of real value to you - and for the rest of your post -
I agree with you.
I repeat what Naz said, I too have received a lot of emails of appreciation from people who, very understandably, simply do not want to post and get involved in the sniping and pettiness that appear on these boards. They just want to get on with the business of making their profits every day trading the way Naz and I teach.
Richard
Rich64
Whilst your general comments here may be helpful, in directing them towards me they are unnecessary. Go back and read my posts, I don't have any kind of vendetta against Naz or Mr C.
Those of us that have neither met nor been trained by them simply don't know as much about their style and methods as you do.
:-0
Whilst your general comments here may be helpful, in directing them towards me they are unnecessary. Go back and read my posts, I don't have any kind of vendetta against Naz or Mr C.
Those of us that have neither met nor been trained by them simply don't know as much about their style and methods as you do.
:-0
Mr. Charts
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rich64,
Apparently you cannot be contacted by PM or email. If you wish, you could contact me on:
[email protected]
and I could send you some material I have authored which you might find helpful in your trading of US stocks.
Richard
Apparently you cannot be contacted by PM or email. If you wish, you could contact me on:
[email protected]
and I could send you some material I have authored which you might find helpful in your trading of US stocks.
Richard
Naz etc
Hello All
On a general note, I want to say that I have never been and never will be involved in slanging matches. I don't have the desire nor the time. If I ever wanted to grill Naz or Mr C I'd do it offline, not publicly and I have exchanged both emails and PMs with them over various issues in the past.
I am not one of those with somekind of agenda against the starters of this thread. Personally, I have quite a bit of respect for them.
In relation to their posts on this thread, my posts are always geared towards education and gaining a better understanding of their techniques and how they are applied. You must appreciate that not everyone is as versed in their methods as their ex-students.
Love, Peace and Happiness
Hello All
On a general note, I want to say that I have never been and never will be involved in slanging matches. I don't have the desire nor the time. If I ever wanted to grill Naz or Mr C I'd do it offline, not publicly and I have exchanged both emails and PMs with them over various issues in the past.
I am not one of those with somekind of agenda against the starters of this thread. Personally, I have quite a bit of respect for them.
In relation to their posts on this thread, my posts are always geared towards education and gaining a better understanding of their techniques and how they are applied. You must appreciate that not everyone is as versed in their methods as their ex-students.
Love, Peace and Happiness
Seguna,
My sincere apologies!......I should have taken the time to look back through a few more threads than I did and realise you are not one of the constant sceptics!!...I try to teach my kids to "engage brain before speaking" but forgot to do the same myself!!...again, my apologies for directing the comments to yourself. Oh, and just to clarify again, I'm not an ex-student of their's, honest guv!! :|
Mr Charts,
Thank you, that's very kind, I'm sending you an email now.
Rich'
My sincere apologies!......I should have taken the time to look back through a few more threads than I did and realise you are not one of the constant sceptics!!...I try to teach my kids to "engage brain before speaking" but forgot to do the same myself!!...again, my apologies for directing the comments to yourself. Oh, and just to clarify again, I'm not an ex-student of their's, honest guv!! :|
Mr Charts,
Thank you, that's very kind, I'm sending you an email now.
Rich'
Naz
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rich64 said:
If anyone dosn't wish to post but wants to chat about how to get into trading the US markets,intra day chart patterns and the many uses of Nasdaq level 2.They are more than welcome to e mail me at [email protected].
Naz
