Spam Man
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Gadgetman said:I'm too embarassed to list the losing trades
That would be an excellent alternative title for this thread .
Gadgetman said:I'm too embarassed to list the losing trades
samtron said:Hi guys
Looking on the money.net site to-nite, I notice they offer 2 Level 2 packages.
Level 2
Totalview.
Is it worth paying the extra for Totalview and what would be the main advantages?
Are there any other specialised Level 2 feeds out there with more bells and whistles than the bog standard packages, that might help with the learning curve for a level 2 wannabe?
hi bez welcome to the thread
cheers
Bez said:samtron would QuoteTracker with the IQFEED be another option at $52 per month :?:
http://www.iqfeed.net/index.cfm?displayaction=data§ion=fees
For the basic feed its $40 dollars (Includes access to RT US and Canadian Equities) & $12 dollars for NAS level 1 &2.
I think you said you have an IB account so you can use that for everything else such as Futs ect..
The great thing about QuoteTracker is the abilaty to have to data feeds in the platform
dvdh said:My platform works again! A bit of a low volume day. Except for RIMM and GOOG.
My trades so far:
goog +100
goog +50
goog -16
cogn +-0 scratch
sndk +6
sndk +8
smtc -5
rimm -5
rimm -6
rimm +185
rimm +77
wfmi -7
cost -4
cost -8
cost -7
goog +-0 scratch (was up almost a dollar at a certain moment, didn't see it coming.)
rimm +15
rimm +5
Total so far: +388
How did you guys do?
-Dave.
Gadgetman said:Well, I've looked through all my trades yesterday.
Three main reasons why I failed:
1. Bad stop management - Not taking the range of the stock into account and setting stops far too tight. In majority of trades I had picked the right direction but was getting stopped out too quickly. An acknowledged novice's error, I believe!
2. I think it would be wise for me to wait for a confirmation candle after my setup appears to have been triggered.
On those trades which went against me, if I had waited for a confirmation candle I wouldn't have entered the trade at that point. It's not even a case of being faked out - sometimes the pattern just doesn't develop against the probability of the setup. Might cost me some cents profit but better than a loss!
The ideal would be the ability to read Level 2 and use that to interpret what's happening more quickly but, until I develop those skills, the slower option is probably best.
3. Not enough pre-open chart analysis. I pick the stocks to monitor prior to open but don't spend enough time looking for support/resistance levels, have been focusing on just the last highs and lows, not intermediate resistance points over a period.
I've been trying to limit my stop/loss to $0.15 a share. The problem with that is, of course, when the range of the stock is higher. Not sure what to do in those circumstances, I guess the safest option is not to take the trade.......
Bez said:Just a quick pattern one