Best Thread US day traders thread.

[PitBull]

A very nice day indeed.

Thanks to Gadgetman who alerted me to a few while on skype. Cheers Dave.

Trades today:

RHAT +0.52
RIMM +1.05
COGN +0.46
KOMG +0.31
BIIB +0.32
FDX +0.26
SNDK +0.33
BCRX scratch

Total so far +3.15

With one still going.........BBBY. I think I'll just go to Starbucks now

 

[samtron]

After hours report.

I'm getting ready to RAM RIMM, get my PAY from PAYX and maybe take a BATH in BBBY,

Excuse my bad sense of humour :cheesy:

LOL, LOL

psychology as we all know is a big factor in trading and laughter is one of the best therapies.

not to sound too flippant but

win or loose a good belly laugh at 2 and 5 pm really works wonders!

sounds daft I know but try it (make sure no ones watching) , it works for me

 

[laytonm]

A typical male trait - multi-tasking is too much for me so concentrated on RIMM - buying breakouts worked a treat today. Simple but effective today. Will call it a day there.

 

[laytonm]

oops, meant to post a chart

A typical male trait - multi-tasking is too much for me so concentrated on RIMM - buying breakouts worked a treat today. Simple but effective today. Will call it a day there.

 

[Gadgetman]

Thank you RIMM

Managed to catch it @ 68.04 as it started a decent break. Needed to leave the computer, so put on a 20 cent trailing stop. Look what happened on the T&S: Climbing nicely but one trade spikes it down (exactly 20 cents!), against the movement and triggers my stop/loss leaving me with $0.31 gain - could have been quite a bit more!

Fortunately I managed to climb back on and took another $0.35 before it stalled around $69.

 

[Bez]

Seen as RIMM is the flavour of the day .....

A "Starbucks" based on some fibs

 

[Gadgetman]

Seen as RIMM is the flavour of the day .....

A "Starbucks" based on some fibs

Great trade Bez.
Notice you put the number of bars elapsed on your chart (i.e. the 34 and 61). Do you use the numbers as any sort of guide?

Still amazes me how often the critical prices line up against the Fib ratios......Dan Brown was right......

 

[Bez]

Yes its a well know method of Elliott wave, sub dividing the degree waves by fib bar counts.

If you nail the count pattern, you can often get a very good idea to the exact bar (time) that its going to be a pressure point...

 

[Gadgetman]

Yes its a well know method of Elliott wave,

Even more well known now then
Thanks for that....

 

[Bez]

Still amazes me how often the critical prices line up against the Fib ratios.....

Yes I'd recommend anyone to get to know how to use fibs....Although its important to learn how to break down the waves correctly so your setting the fibs from the correct swing points...
Fibs are extremely useful Dynamic Sup/Res points, for traders when there's no Implied levels ( high or low swing points) to work with. Every Technical Trader ( & his software) will be aware of these Dynamic levels so it always worth while to know these levels & to watch how the price reacts around them either on the Chart itself or the L2

A reasonable understanding of Elliott wave will help immencely on helping to narrow down which Fib ratio's are more key than others depending on the structure. For example if your count says your looking for a "B" wave you don't really want to sell the 38.2% when most 2 "B" waves retrace 61.8& or more.

 

[Gadgetman]

Yes I'd recommend anyone to get to know how to use fibs....Although its important to learn how to break down the waves correctly so your setting the fibs from the correct swing points...
Fibs are extremely useful Dynamic Sup/Res points, for traders when there's no Implied levels ( high or low swing points) to work with. Every Technical Trader ( & his software) will be aware of these Dynamic levels so it always worth while to know these levels & to watch how the price reacts around them either on the Chart itself or the L2

Any recommendations for a good book/source on the subject Bez?
Cheers.

 

[Bez]

The usual suspects are:

Prechter, Miner, Fischer, Plummer & Neely

http://www.trade2win.com/knowledge/books/elliott-wave-principle---20th-anniversary-edition-gi-9944/

http://www.trade2win.com/knowledge/books/dynamic-trading-gi-9649/

http://www.trade2win.com/knowledge/...-and-strategies-for-trading-success-gi-14160/

http://www.trade2win.com/knowledge/books/forecasting-financial-markets-gi-1664/

http://www.traderspress.com/searchr...nSearch.y=0&txtFromSearch=fromSearch&iLevel=1


Bez

 

[tonie]

Gadgetman

may well be worth in future setting a 'ARCA STOP' - so your trailing stop loss will only trigger if ARCA trades at that level.

Observe for youself, MM trigger rogue trades away from the market with the intention of hitting 'stops', as they know where the stops are placed.

Sometimes it'snot worth MM while to work the stock down to these levels, so they will trigger a trade away from the market to take your trade.

see or yourself

you must avoid showing your hand!

regards

tonie

 

[samtron]

Gadgetman

may well be worth in future setting a 'ARCA STOP' - so your trailing stop loss will only trigger if ARCA trades at that level.

Observe for youself, MM trigger rogue trades away from the market with the intention of hitting 'stops', as they know where the stops are placed.

Sometimes it'snot worth MM while to work the stock down to these levels, so they will trigger a trade away from the market to take your trade.

see or yourself

you must avoid showing your hand!

regards

tonie

great point tonie (IMHO) !!!
order routing I would imagine can make a huge difference
thanks for sharing!

there was a big spike on the charts just before 2.30, i would imagine it was a stop getter.
(no volume), next candle bullish on large volume very interesting (hind-site on my-part)

 

[Gadgetman]

The usual suspects are:

Prechter, Miner, Fischer, Plummer & Neely...........

Excellent, will check them out. Thanks.

 

[Gadgetman]

Gadgetman

may well be worth in future setting a 'ARCA STOP' - so your trailing stop loss will only trigger if ARCA trades at that level................

Spot on! I'd actually been advised to do that by Naz previously and, sadly, forgotten
I've recently been using "mental" stops but have been finding I need to monitor the trade a lot more closely, therefore missing other good opportunities. In fact, thinking about it I find I'm much more relaxed trading when I actually input the stops, I'll think a bit more about that and maybe change practice for a while to see how it goes. What do you guys do as a rule?

 

[Gadgetman]

Just can't keep away

Subtitle: "Dave, get a life!"

What the heck, I've done all the shopping the prezzies are wrapped and the turkey arrives tomorrow. (Shouldn't speak about the mother-in-law like that, I know....)

Actually, it's quite good for a novice like me this afternoon, although low volumes. Stocks are moving much more slowly, generally, which gives me more time to watch Level 2 screens and figure out what is going on.

Just had a nice little short on ERTS, from 53.49 , filled at 53.19. AND used a trailing stop routed via ARCX. I've decided to enter stops on all trades for a while (see previous post), either fixed or trailing depending on the particular trade.

Happy Christmas everyone - anyone trading next week?

 

[dvdh]

Subtitle: "Dave, get a life!"

What the heck, I've done all the shopping the prezzies are wrapped and the turkey arrives tomorrow. (Shouldn't speak about the mother-in-law like that, I know....)

Actually, it's quite good for a novice like me this afternoon, although low volumes. Stocks are moving much more slowly, generally, which gives me more time to watch Level 2 screens and figure out what is going on.

Just had a nice little short on ERTS, from 53.49 , filled at 53.19. AND used a trailing stop routed via ARCX. I've decided to enter stops on all trades for a while (see previous post), either fixed or trailing depending on the particular trade.

Happy Christmas everyone - anyone trading next week?

Merry Christmas to you guys too!!
I'll probably be trading next week!!

-Dave.

 

[PitBull]

Merry Xmas everyone.

I'll be trading next week as not at work so can concentrate on it full time.

Lee

 

[laytonm]

Anyone else having a look this week?

Had a (very small) pre-market long on CELG, then a mid-morning short after it broke down.

Would be tempted to add on the pullback if if it doesn't break through the old support, but closed instead as have to do yet more seasonal visiting of relatives this evening - still, this puts me in better frame of mind to do so.

Hope reasonable xmas's have been had by all

Mark

PS the support lines are only relevant to the short trade. The pre-market long was based on news and strongly positive momentum with a shallow pullback followed by more buying. I don't do this very much and when I do it's with a small position size, but it's nice when it works. I think some people make a speciality of trading pre market, and in some ways I can see why.