Best Thread US day traders thread.

[Mr. Charts]

Forgot the chart.

 

[dvdh]

Forgot the chart.

Beautiful. That Microanalysis is really a big edge isn't it?

-Dave.

 

[Mr. Charts]

In my opinion, yes. Very much so.
Nothing is infallible, but for me and in the way I use it it is a huge edge.
Sometimes, not always, it will tell you what is going to happen BEFORE it does.
It often tells me whether support or resistance will hold or break IN ADVANCE.
Let's say someone finds their breakout strategies work 60% of the time, add an understanding of micro-analysis and the hit rate becomes nearer 80%.
It's not a magic wand, but it frequently gets me into trades at the right time, keeps me out of many trades which then go on to fail, gets me out of trades close to the end of a move, keeps my losing trades small when they do occur and allows me to take trades like that GILD one this afternoon.
It's not easy and does need learning and needs patience, application and plenty of screen time and practice before anyone masters it.
You can tell volume is about to come in long before it shows on whatever time (one min 5 min etc) bar you are looking at.
But once you can do it, wow is it worthwhile.
Sorry if I've over-enthused.
Richard

 

[dvdh]

Guys, I'm gonna call it a day. Starting to lose a little money this afternoon.

My trades:
sndk -2
sndk -6
sndk -5
sndk -5
sndk -9
goog -18
driv +19
Total this afternoon: -26
Total for the day: +169-26=+143.

Still not a bad day, but I'm gonna call it one. Good luck guys.

Richard, let me tell you if you over-enthused in a couple of weeks. If you know what I mean.
I believe ya, though!

-Dave.

 

[dvdh]

This is one boring morning session today. I can't find the right set-ups.
My trades this morning:
nvda +22
nvda +13
nvda +12
nvda -17
nvda -17
sndk -10
goog +100
goog +66
nvda -11
rimm +13
rimm -3
yhoo -8
nvda -10
nvda +-0 scratch
driv +16
sndk +20
sndk +30
esrx -5
appx +17
appx +4
appx +6
goog +229
Total so far: +467.

My P&L is quite good. But my trading really bad. I can't find the set-ups before the break.

What about you guys? Did you see NDAQ. I mean that's the trade of the day. And I missed out completely.

-Dave.

 

[Mr. Charts]

Choppy (small losses + small gains) for me too till GOOG....
Shorted break of 420, covered on hammer for +218
Shorted as it fell again 416.88 and still open with trailing stop currently at 412.70
Richard

 

[Mr. Charts]

Tightened trailing stop to 412.20

 

[Mr. Charts]

Out

 

[dvdh]

Out

Superb trade, Master Charts. I'm not in the zone today. Missing out on about everything. I'm gonna relax a bit and then start over this afternoon.

Really a monstertrade you did on GOOG.

-Dave.

 

[Mr. Charts]

Thanks dvdh, but it was only one of my favourite pattern set-ups developing that alerted me to it and jumping on board when triggered on micro-analysis. The first exit was triggered by the hammer, very strightforward; the second short was another pattern entry and the exit on reading the waves of selling pressure abating and those of buying pressure building, but having seen the level of activity on level 2 earlier. The latter is never as reliable on GOOG as it is with most stocks so I also read the one minute candles and what their volume was telling me to choose the first TS. I became more convinced the move was in imminent danger of being over,(which later proved to be correct), so I tightened the stop to lock in as much profit as possible.
But both those trades were just method and obeying my own rules, nothing special.
I don't think it was you having problems today, it was the nature of the market.
Richard

 

[dvdh]

Thanks dvdh, but it was only one of my favourite pattern set-ups developing that alerted me to it and jumping on board when triggered on micro-analysis. The first exit was triggered by the hammer, very strightforward; the second short was another pattern entry and the exit on reading the waves of selling pressure abating and those of buying pressure building, but having seen the level of activity on level 2 earlier. The latter is never as reliable on GOOG as it is with most stocks so I also read the one minute candles and what their volume was telling me to choose the first TS. I became more convinced the move was in imminent danger of being over,(which later proved to be correct), so I tightened the stop to lock in as much profit as possible.
But both those trades were just method and obeying my own rules, nothing special.
I don't think it was you having problems today, it was the nature of the market.
Richard

Really great, man. But I'm sure it was me today. The problem was. I didn't even see GOOG, when it broke. I saw it when it had already broken a couple of dollars. The point is that I didn't enter my alerts, like I do usually. So there was no way that I would have found goog. Or it would have been coincidence. But I'm sure I could have taken loads of money out of GOOG. Cuz the pattern is a school example. But looking back doesn't work. So we'll see what this afternoon brings. You've done a great job again, as usual. Is GOOG the only trade you did? You saw NDAQ?

-Dave.

 

[samtron]

good trading yet again guys.

just imagine catching goog today and riding it all the way but like dvdh says theres no point in looking back

How effective are trailing stops in protecting pprofits on the naz? I have noticed on a few occasions that the big moves can be interrupted by vicious counter spikes (presumably designed to knock out trailers). eg goog today at 11-17am

davev,
how good is the trade-ideas scanner I am thinking of signing up, would you say its worth it? because I'm surprised it never alerted you about the break on goog?

 

[dvdh]

good trading yet again guys.

just imagine catching goog today and riding it all the way but like dvdh says theres no point in looking back

How effective are trailing stops in protecting pprofits on the naz? I have noticed on a few occasions that the big moves can be interrupted by vicious counter spikes (presumably designed to knock out trailers). eg goog today at 11-17am

davev,
how good is the trade-ideas scanner I am thinking of signing up, would you say its worth it? because I'm surprised it never alerted you about the break on goog?

Hi samtron,
I never put a stop in the market. It's in my mind. Because the spikes, kicked me out a couple of times too.
The trade-ideas scanner is actually pretty good. But most of my profits usually come from my own hotlist. The GOOG trade didn't come through the scanner, because i want it to filter stocks from 10 to 100 dollars. But if you say up to 500 bucks, I'm sure it has come through a couple hundred times. LOL.
But the scanner is so extensive, you almost need to hire somebody to watch it for you. But it's quite usefull.

-Dave.

 

[PitBull]

Evening guys, good trading Dave and Richard

Sorry not posted for a little while but been unable to trade the open the past few days , but made some trades tonight.

2 losses and 4 winners

Losses were:

BTU -0.12
CKCM -0.15

Winners were:

NVT +0.75
ESRX +0.79
BTU +0.42
AAPL +0.78

Total = $2.47

See winning charts attached.

 

[dvdh]

Nice trading as usual, PitBull.

Wasn't a bad afternoon. Got my feeling back a bit.
The trades this afternoon:
goog +80
goog +80
grmn +7
grmn +15
grmn +9
goog +91
aapl +31
aapl +27
driv -16
goog +300
aapl -3
aapl -8
goog -16
goog +14
aapl +22
goog -30
esrx -15
goog +125
goog +95
Total this afternoon +808
Total for today +467+808=1275.

Great day after all. But really bad trading in the morning session.

You googled around a bit, Master Charts!!LOL

-Dave.

 

[PitBull]

Samtron

I use trailing stops, but make sure they are strategical, but it also depends on what kind of move you're looking for, i.e. if you are yet to take profits and you have a winning trade, you don't want to let these profits go so trail your stop in closer than if you were looking for a bigger move, i.e if a stock is trending all day, then my stop would be around SR levels and under pullbacks or above retracements.

It also depends on the stocks volatility, if you look at rimm today, there are so many spikes on the 5 min charts, I'm glad I didnt trade it. To get an idea of the spikes it could produce is to look over the last few days in the 5 min chart for example. Look for long wicks.

All the best

Lee

 

[PitBull]

DVD

You certainly have had a good day. Good old GOOG bringing it home!

I don't think I have the nerves to trade GOOG yet.

 

[dvdh]

DVD

You certainly have had a good day. Good old GOOG bringing it home!

I don't think I have the nerves to trade GOOG yet.

GOOG is my baby. He's been a little ill, that's why he's swollen up a little bit. He now starts to lose some weight!. LOL
And that's going right into our pockets!!! He's worth a grand per kilo. And he lost over 20 kilo's today. Big Diet, right!

-Dave.

 

[PitBull]

dvdh

LOL

 

[Mr. Charts]

Sometimes I like doing swing trades over a few hours and am currently long DBRN from 32.88,
but we are getting into the US lunch time chop and any dip below 34.20 and I'll exit to lock in a nice gentle swing trade of around +140c
Richard