Best Thread US day traders thread.

Level 2

If anyone else is struggling with Level 2, try using ADBE for practice and follow GSCO.

I've been watching it for a few days now, it doesn't move too quickly and Goldman's movements follow a definite pattern. Not sure if this is the norm for Adobe but it's a handy study at the moment.

All I've got to do now is make sense of the pattern!
 
Goog after the % 50 around $408 :?:

If it carn't pop the 38.2% @ $406 then its still down hill :eek:
 

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Hans

Not one that's been on my watchlist but, looking at the daily and intra-day charts, think I'll include it for a while, even though volume can be a bit low. I note it is no. 19 in one subscriber site's Top 25 most-shorted stocks for December.......
 
A post to divert the atmosphere :eek:

AMGN is looking interesting....(slightly late on the screen shot )
 

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I too have enjoyed Mr Charts posts...Thank you Richard !!

Yes he may offer training...big deal......he put's plenty of examples of trade set ups on here so people can see what he's using, if you're so inclined.

For discloser , I should add, I've never had any training or anything else for that matter from Mr Charts..

Update of AMGN....
 

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Bez said:
Update of AMGN....

Nice one Bez! Saw your first post and thought "I'll have a look at that after some food" :(

Post another one and I promise I'll give it more immediate attention :)
 
Thanks Gadgetman !!

I try and post things as close as I can to real time.....Other wise it becomes more of a hypothetical exercise on the theory of sett ups...
 
Bez said:
Thanks Gadgetman !!

I try and post things as close as I can to real time.....Other wise it becomes more of a hypothetical exercise on the theory of sett ups...
Wonder if it'll bounce off the 79, which is around the 50% retracement mark.....
 
Bez said:
Thanks Gadgetman !!

I try and post things as close as I can to real time.....Other wise it becomes more of a hypothetical exercise on the theory of sett ups...

Bez, Could I also say thanks for your input over the last couple of weeks, real quality stuff mate.
Just what a newbie like me needs and appreciates.
 
Lets please get back on track

What has happened to this thread?.....we've got 4 pages of waffle!!!

As this is supposed to be about trading, lets post some quality trades and commentary.

I am now settling into the evening session comfortably, as unable to trade the open at present due to work pressures. I find it a lot slower but still with some good moves. I'm getting used to level 2 a lot more, as the moves are not as erratic, so it gives one time to take it in and assess the evidence.

Theres a great thread on here by Naz and others way back in 2003. it's called "t/a and level 2". there is some very insightful snippets of how the master Naz uses L2.

Anyway, back to business!!

5 trades tonight: 2 losses, both got stopped out, 3 winners.

losses:
RIMM -20
SNDK -8

Winners:
AAPL +1.04
TXN +45
QCOM +43

Total = +1.66

Things I'm looking for in these evening moves, are the continuation of the morning, i.e. a breakout of intraday range (see DNA chart posted a few days ago). Caught a couple of these tonight. TXN and QCOM.

The losses could of been avoidable, as I rushed the trade and should have waited longer for more confirmation. I was waiting for the break of the lows on RIMM, but it just chopped around. I let it approach my stop when I should of cut it dead if things were not working within minutes. I do have a time stop on a trade and I should of implemented it!!

SNDK. I was looking for the next leg down, but it quickly reversed, so I took a small hit.

Other setups looking for in the evening are the down bars and a lovely juicy hammer like the one on the AAPL chart at 7.30pm UK. This was a classic afternoon reversal and I took it for a dollar, with hardly any resistance on the way up. As the missed Mr C would say "a no brainer".

All the best Mr C in your new endeavour. We will all miss your contributions.

Regards
Pitbull
 

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Naz said:
Here's a thread that offers an insight into US stocks that are currently interesting.Stocks that can move either way for one reason or another.Any info in fact that the US day trader could be interested in.

Some of the stocks picked for intra day trading go on to fly and become fantastic opportunities for the end of day trader as well.Here's two that seem to be coming up day afer day.Both were up 100% last month.ANTP and BOOM.

Today Non farm Payrolls is out at 0830est

Earnings guidance kicks in for many companies starting April 11th.Google's is after the close on Apr 21st.These figures always offer some great oppertunities.
For those that dont know.US day traders can trade before and after market hours to take advantage of these potential moves as soon as the figures are released.

Naz
.. those charts are great
 
I've done some housekeeping on this thread. Let's now please keep the dialogue to trading the US markets. Thank you.
 
I'm sure most saw this set up.....:)

Missed the entry after the low ( while messing on the futs ) but theirs always a second chance for a run at the gap....
 

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Bez said:
I'm sure most saw this set up.....:)

Missed the entry after the low ( while messing on the futs ) but theirs always a second chance for a run at the gap....
OK, I figured out it was RIMM but I can't get my charts to look like yours! What interval are the candles?
Cheers.....
 
Your correct Gadgetman its RIMM & most of my charts are set on a 5min time frame....

It filled the gap and some more its seems :eek: :)
 

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Bez said:
Your correct Gadgetman its RIMM & most of my charts are set on a 5min time frame....

It filled the gap and some more its seems :eek: :)
I'll say, look at it go.......
 
Thats one for the files :cheesy:
 

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Just a quick question,

Can you get any meaninful size on RIMM

i.e what sort of spread wou;d you end up paying?
 
JonnyT,
Current spread is 1 to 3 cents
1000-2000 is no problem with fills
Richard
 
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