Best Thread US day traders thread.

[Gadgetman]

Hey guys,
anyone know a good head-shrink, I am having a job pulling the trigger

Might be better to take a break from it, come back fresh. Have you read "Trading in the Zone" by Mark Douglas? Helped me a lot and PitBull described it as a "lightbulb moment"......

 

[MaximusDollarus]

NEWS Source

Grab yourself a SIRIUS radio reciever and put one in your trading office. By switching back and forth from CNBC and Bloomberg you can pretty much get all the news you need short of having a buddy on the floor!

 

[Bez]

Not posted on here for a while

A cheeky "starbucks" trade based on pattern...

AAPL

 

[MaximusDollarus]

Trigger Issues

Might be better to take a break from it, come back fresh. Have you read "Trading in the Zone" by Mark Douglas? Helped me a lot and PitBull described it as a "lightbulb moment"......

YOU MIGHT WANT TO START TRADING IN LOT SIZES OF TEN OR TWENTY SHARES. THAT WILL HELP EASE YOU INTO TRADING EMOTION-FREE. A MISTAKE MADE WHEN TRADING SMALL LOT SIZES WON'T COST YOU MUCH AND YOU'LL BE ABLE TO SLEEP AT NIGHT...NOT TO MENTION THAT YOU'LL BE GAINING MORE EXPERIENCE WITH EVERYTIME YOU 'PULL THE TRIGGER'.

DOUGLAS' BOOK IS GREAT, BUT IT'S ONE OF THE MORE BORING BOOKS I'VE EVER READ. HE DEFINATELY GOES OFF ON TANGENTS THAT WILL BORE YOU TO SLEEP...BUT THERE DEFINATELY IS SOME GOOD INFO IN THERE FOR THE EMOTIONALLY CHALLENGED.

 

[laytonm]

A tricky day for me, down a little from aapl and sndk.

Then all is forgiven.

I think I might give up trading in market hours.

Time for a large glass of wine.

Cheers

Mark

 

[PitBull]

Mark

Great minds and all that. I traded this as well !!
You got a better entry than me but I was out on the second bar. As soon as it started coming back fast I was out.

A bit more voltaile than the AAPL trade yesterday.

 

[strewthmate]

Pulling the trigger

Samtron

Being a "head shrink" myself - I'll offer my 2 pennies worth

Not being able to pull the trigger is your brain's way of saying STOP - painful thing coming up, just like it might do if you were about to do a bungee jump. Most things that go wrong with us are faulty patterns which can be corrected, so separate "yourself" from the pattern (i.e. don't blame yourself). Then as has already suggested break off and come back small, start convincing your brain that this "protective" pattern isnt actually protecting you.

Breathing relaxation exercises and visualisation can help calm you if needed. PM me if you'd like some simple exercises.

Start off small then build up - paper trade, notice your reaction if ok, move up to 10 shares, notice your reactions, if ok move up to 50/100 etc if you get to 1000 shares and dont feel comfortable, move back down to 500 and build back up etc.

Also trading in the zone is excellent - especially the chapter on risk.

Hope that is a smidgen of help

Pitbull

You seem a regular user of the Naz scanner - is he on their every day, or is it mostly used for the scanners signals? cheers

Dave

 

[laytonm]

FAST might be worth a look pre market today ?

 

[PitBull]

Pitbull

You seem a regular user of the Naz scanner - is he on their every day, or is it mostly used for the scanners signals? cheers

Dave

Hi Dave

Yes, Naz is giving commentary everyday and very passionate about it too!

Nice words on the stuff between our ears!

Cheers
Lee

 

[PitBull]

Pulling The Trigger

Samtron

The fear of loss is causing you to become "trigger shy". Learn to accept that losses are an inevitable part of daytrading, more than any form of trading for that matter. Accept that the markets are unpredictable, and don't expect anything from the market. If you have any expectations from the market, you are fighting it. Just think of the market as an opportunity flow presenting you with information. Like a river, you jump in when you want and jump out when you want.

I say to myself, to cope with losses, that I need to spend a certain amount of money to make myself available for the winning trades. Cost of doing business if you like. Also, I say that this loss is only one of 400 out of the 1000 trades I may do this year. And as Dave says, be comfortable with your risk.

Hope this helps.
Good luck

 

[Gadgetman]

Interesting site . . .
There is a link on this thread to a potentially useful (free) site . I expect that most folks here subscribe to briefing.com and they probably provide the same info'. Either way, it might be one to file away in your 'favourites' somewhere.
http://www.trade2win.com/boards/showthread.php?t=18303
Tim.

Tim - useful site with insider trading information!

I had a look a few days ago and immediately spotted that a director of SEED had bought 150,000 shares for $13.28 - reported on 13th Jan (transaction date 11th). They closed at $15.41 on the 13th.........

Thanks for the lead!

 

[dvdh]

Samtron

The fear of loss is causing you to become "trigger shy". Learn to accept that losses are an inevitable part of daytrading, more than any form of trading for that matter. Accept that the markets are unpredictable, and don't expect anything from the market. If you have any expectations from the market, you are fighting it. Just think of the market as an opportunity flow presenting you with information. Like a river, you jump in when you want and jump out when you want.

I say to myself, to cope with losses, that I need to spend a certain amount of money to make myself available for the winning trades. Cost of doing business if you like. Also, I say that this loss is only one of 400 out of the 1000 trades I may do this year. And as Dave says, be comfortable with your risk.

Hope this helps.
Good luck

Mark Douglas a.k.a. PitBull! :cheesy:

More than right guv!

-Dave.

 

[Gadgetman]

Earnings

Nasdaq only.
Post-market yesterday:
CAMD
CLDN
CREE
FFIV
GNSS
HLIT
HYSL
MCHP
MIPS
MOLX
MROI
RMBS
SUPX
SYNA
XLNX
Pre-market today:
FAST

There is some free information you can get on gappers etc. on MSN:
http://moneycentral.msn.com/investo...reen.aspx?query=Gapping+Up+Today&btnQryFrm=Go
Not sure when it gets updated, wasn't showing any gappers at 13.00 but I'm sure I've found stocks on there pre-market before.

 

[EK1]

I always find this site interesting. I think it might have been posted in the past.

http://screening.nasdaq.com/heatmaps/heatmap_100.asp

EK1

 

[millsy500]

Tim - useful site with insider trading information!

I had a look a few days ago and immediately spotted that a director of SEED had bought 150,000 shares for $13.28 - reported on 13th Jan (transaction date 11th). They closed at $15.41 on the 13th.........

Thanks for the lead!

Hi Dave

Check out adbe on the site some insider selling last week could be forming a trend reversal.
Saying that new highs are bullish. I shorted near the close yesterday, I'll risk a dollar!

Millsy

 

[strewthmate]

Adbe

Well done that man - Adbe dropping like a stone with the rest of the market

Luckily closed my ADBE swing position last night following a Bearish Engulfing on the Hourly chart. Didn't think to short

 

[Gadgetman]

Hi Dave

Check out adbe on the site some insider selling last week could be forming a trend reversal.
Saying that new highs are bullish. I shorted near the close yesterday, I'll risk a dollar!

Millsy

Didn't trade today apart from quick one right at start and one right at end of day

I won't ignore the next one you suggest!

 

[millsy500]

Cheers guys!
Enjoy the seminar tomorrow, booked a ticket but had to pull out regretably, hope to catch up with you on the next one tho

regards Millsy

 

[millsy500]

Didn't trade today apart from quick one right at start and one right at end of day

I won't ignore the next one you suggest!

won't be making any more calls as i want to keep my 100% record on this thread lol


Millsy

 

[samtron]

Cheers to everyone who made suggestions on my post "pulling the trigger"

I think my main problem might be that I come from an engineering background, and am used to looking for certainties, too many confirmations, over analysis etc etc by the time I have done all that the stock has moved and I have missed the trade.
I read the TITZ a few weeks back and agree with everyone its a classic.

roll on Monday