Best Thread US day traders thread.

[tonie]

you are right trader333 nice feature.

it's a great edge if you know how to use L2 anyway.

if you can only use it to set stop losses, then it's not really an edge

regards

 

[PitBull]

Hi guys

Been a bit quiet lately as just getting on with earning profits. Nice to see some new faces here and quality posts from Bez, laytonm and tonie. Keep it up.

Just thought you might like to know what I'm watching today

MUSE
PALM
KOMG
SUNH
CESV

Good trading

 

[samtron]

Where is everyone its not the holidays yet you know!
Any way some good news,
although sadly it looks as if we may have lost Mr Charts there is some good news!

Mrs Charts has joined t2w

 

[laytonm]

Tonie

No real reason to be honest - it's how it came. I could hide one but just haven't felt the need. As mentioned 90% of my trading decisons are chart based. I really only use L2 to manage a trade. By that I mean that I highlight the biggest traders in the stock I'm trading and watch their quotes and the T&S. I have to admit I see a lot of things that are often discussed on this board (hence my post yesterday about headfakes) but I'm not sure how much difference they really make to my trades. Price and volume work for me on active Nasdaq stocks, but I'm not really a scalper. I follow the short term trend looking for 50c to $1 ideally. Made a little out of palm earlier. L2 interest me but is not pivotal to my approach - maybe one day I'll learn to harness it properly but in the mean time I'm happy enough.

On e-signal can you highlight a MM on the L2 screen and also will it show the number of times a MM has remained best bid/ask when others have left that tier ?

Mark

why have you got arca $ archip both displayed & cinn & island both showing the same information

 

[PitBull]

Some lovely U moves today.

Caught two in MRVL and JOYG. Ideal just to get in before it takes out its highs. Low risk entry.
MRVL +.51.
JOYG +1.32. Attach 1 min chart and 5min chart.

One loss on PALM.
-0.15

Total +1.68

 

[tonie]

Accumulation in motion.

 

[samtron]

You will never ever see a MM come in on the inside with size and do business.

All i can say is 'Trade what you see and not what you think'.

you have to be 1 step ahead of the players. They have very deep pockets.


regards

the trouble with this is "they" want you to think opposite to what "they" themselves really want to do, also they know that most traders know that, so in the end doesn't it come down to a game of bluff and double bluff

Mr Charts and Naz are real big fans of L2 but they have been using it for years.
>

Nice Charts PitBull.

 

[tonie]

20.95 target & out 1/2

such an easy trade to read

 

[tonie]

check out the RS

 

[laytonm]

Nice trades

I like these types of set up as well. If you don't mind me asking are you using a scanner or a watchlist based on pre-market / recent activity.

I only traded PALM today. Stopped out @ 32 but managed to scape a fraction more than break even. Can't win em all. Think I'll call it a day.

Mark

Some lovely U moves today.

Caught two in MRVL and JOYG. Ideal just to get in before it takes out its highs. Low risk entry.
MRVL +.51.
JOYG +1.32. Attach 1 min chart and 5min chart.

One loss on PALM.
-0.15

Total +1.71

 

[dvdh]

the trouble with this is "they" want you to think opposite to what "they" themselves really want to do, also they know that most traders know that, so in the end doesn't it come down to a game of bluff and double bluff

Mr Charts and Naz are real big fans of L2 but they have been using it for years.
>

Nice Charts PitBull.

Hi guys,

Reading Level II is one of the best things I've learned lately. Right now I'm able to trade without charts. Of course that isn't always practical. But my trades are extremely fine-tuned right now. I rarely have a losing trade lately! Charts are good for finding patterns. But Level II tells you whether it's gonna happen or not. And when you're in a move. Level II tells you when to get out before the actual price starts moving against you. So you have like a couple seconds left. This happens time after time. I took Mr. Charts' specialist micro analysis course two weeks ago. I've never been more profitable than I am now. So I am a big fan of Level II.
It's really a pity that Mr. Charts ain't posting no more. This thread will never be what it once was. It's good that there are some new faces posting, but we did lose the Master! And I can't believe that the owners of this forum let that happen, since the US Daytraders thread is the only quality thread, IMHO!!!

-Dave

 

[tonie]

Samtron

there are many of variables the MM can employ, it's all about making judgments on the evidence before you, that put the probabilties in your favour (an edge). this may be from just observing few or many things and having a action plan based on that.

 

[PitBull]

Hi Mark

Using a combination of Naz's scanner and pre-market activity watchlist.

 

[tonie]

DVDH

good stuff

check your messages box

regards

tonie

 

[tonie]

Looks like CHKP is being worked

look at the sector

 

[strewthmate]

Esignal

Laytonm

"On e-signal can you highlight a MM on the L2 screen and also will it show the number of times a MM has remained best bid/ask when others have left that tier ?"

Yes to the first part of your question, and not sure on the second part. Great thread guys, really helpful contributions from people.

Here's some of my trades today to add to the mix. Martkets looked promising at the start of the day so entered a few with an eye to running them on, but sadly so far this rally lacks strength so got out early.



Cheers

Dave

 

[samtron]

Where is everyone its not the holidays yet you know!
Any way some good news,
although sadly it looks as if we may have lost Mr Charts there is some good news!

Mrs Charts has joined t2w

Sorry for the distraction guys but I should point out:

That I have been reliably informed that

New member Mrs Charts is not related and any way to Mr Charts.

 

[PitBull]

Laytonm

Martkets looked promising at the start of the day so entered a few with an eye to running them on, but sadly so far this rally lacks strength so got out early.

Dave

Good stuff dave

Its great when everyone joins in to get another perspective on things. I must admit, this thread is the best on T2W.

Just a few comments on overall market.

It looked like just after the FOMC meeting the other week, we were going for a rally into Xmas, but that sure was a fake. If you look at the S&P futures over 10 days 10min charts, you will see the fake rally on Wednesday last week. It then formed the right shoulder and broke neckline support on Friday which was the catalyst for the sell off.

IMO I think any rally now will need to be watched cautiously. Take today, rally in the morning, then tanked about 6pm tonight.

tread carefully fellow traders!

 

[samtron]

Good stuff dave

Its great when everyone joins in to get another perspective on things. I must admit, this thread is the best on T2W.

Just a few comments on overall market.

It looked like just after the FOMC meeting the other week, we were going for a rally into Xmas, but that sure was a fake. If you look at the S&P futures over 10 days 10min charts, you will see the fake rally on Wednesday last week. It then formed the right shoulder and broke neckline support on Friday which was the catalyst for the sell off.

IMO I think any rally now will need to be watched cautiously. Take today, rally in the morning, then tanked about 6pm tonight.

tread carefully fellow traders!

PitBull/Strewthmate,

I have been trying to get to grips with taking overall market conditions into account, a lot of text books say it absolutely essential to include, overall market, market sector, longer time frames for the stock your about to trade etc,

Its a lot to take in the heat of battle and can lead to indecision, and whats known as analysis paralysis.
The way I overcome this is I just accept that there are trends within trends. the more trends in my favour so much the better, at the same time it doesn't matter if one or two trends are pointing the other way as long as you have other factors supporting the trade.

I suppose this is where L2 type trading comes into its own; well if you can work out what the big boys are trying to do using L2, you know they will have done the donkey work for you

 

[PitBull]

Samtron

I use to suffer from analysis paralysis, but now I just get a feel for market direction but I don't use it as a filter like I use to do. I always check the futures charts before placing a trade.

Hope this helps