Best Thread US day traders thread.

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The majority of stocks come out with results after the close today.
Here are some Nasdaq stocks that are coming out with results before the open.

Trade them on the ECN's before the market opens and get an advantage over others that dont do that.

ANAD
ABFS
CELL
FLSH
PETS
VECO

Hi Naz

Are the above stocks not somewhat illiquid? Please correct me if you do not agree. I am wondering how you are not only able/willing to trade these during market hours but more so outside hours when there is even less volume, especially for very short term trades.

 

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Here's a list of Nasdaq stocks reporting after the close tonight.

GNTX
:
ZHNE

Hi Naz

Does your trade method actually require you to monitor the news flow for these 36 stocks?
I thought you were mainly a technical trader or is the news an aid to the trading and not a driver?

 

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alexbarsa1,
I normally have 6-10 on my hot list immediately on market open and a much larger number of core trading stocks.
There is no reason why you cannot monitor 200 or more and let your software sort them for you - and if you use scanners, the entire market.
This is the way you find the types of moving stocks you need to make money day after day.
Richard

PS I use a constant filtering system which provides the best opportunities so I can see the best ones all the time.

Hi Richard

Does your stock filtering account for volume? If so, how? What about liquidity? Pls note that volume(size of trades) and liquidity (no of bids and offers) are not the same.

Are there days when you have to walk away from the market because there are not enough prospects?
:|

 

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Mr C and Naz

Hello Gents

One of the challenges I've had with the scanning and stock filtering concept is that it can throw up a diverse range of stocks on any given day when the scan is run.

I personally find it easier to trade a stock, index or commodity I am at least familiar with in some form or other. Sometimes, when I see a chart for a stock that I know almost nothing about, I find I am loathe to touch it regardless of any promising setup.

I am sure you've both encountered this before. How did/do you deal with it?

Thanks

 

[Mr. Charts]

Hi Richard

Does your stock filtering account for volume? If so, how? What about liquidity? Pls note that volume(size of trades) and liquidity (no of bids and offers) are not the same.

Are there days when you have to walk away from the market because there are not enough prospects?
:|

Seguna,
Yes I only trade those stocks with sufficient volume and liquidity.
I am aware that volume and liquidity are not the same.
I have only walked away once this year, so yes, I can almost always find great high probability trades.
Richard


Richard

 

[Mr. Charts]

Hello Gents

One of the challenges I've had with the scanning and stock filtering concept is that it can throw up a diverse range of stocks on any given day when the scan is run.

I personally find it easier to trade a stock, index or commodity I am at least familiar with in some form or other. Sometimes, when I see a chart for a stock that I know almost nothing about, I find I am loathe to touch it regardless of any promising setup.

I am sure you've both encountered this before. How did/do you deal with it?

Thanks

Seguna,
The problem with only trading a handful of stocks with which you are familiar is that often they do not provide high probability trades. Although I have a core trading list, I like to go for the movers in the market on the day, since movement = profits for me and is the way I trade.
Richard

 

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Seguna,
The problem with only trading a handful of stocks with which you are familiar is that often they do not provide high probability trades. Although I have a core trading list, I like to go for the movers in the market on the day, since movement = profits for me and is the way I trade.
Richard

Does it not bother you trading a stock whose movement and trading characteristics you may barely know?

Pardon me if I'm being overly simple, but how does your methodology account for this? I'd like to know how to deal with this familiarity barrier problem.

 

[Mr. Charts]

Seguna,
I look at a chart and volume and can "read" at a glance whether it is a suitable stock for trading.
It is as easy as "reading" page 3 of the Sun, you know what you like immediately without having to analyse or assess - the main points stick out immediately.
Richard

 

[Naz]

Does it not bother you trading a stock whose movement and trading characteristics you may barely know?

No is the answer,i'm a day trader i get in and out, bank a profit adding up my total to make a days money.

Low liquidity on a stock before the open not a problem.Infact its a dream.
Jump on the bid,thats my order for 500 (Archchip) at 57.14 attachment 1.
You can see that people are paying in the $57.47 region so if i get any portion of my order filled at the lower price i've done rather well because its under what the majority are prepared to pay.

Attachment 2 shows my two orders at $57.14 waiting to be filled in my account stats.

Attachment 3 shows one of the orders gets filled with an instant profit.The other will wait on the screen until filled or the stock moves up further and i cancel it.

The only thing i would say about low liquidy large spread stocks is just play the right share size for the stock.

 

[Grey1]

Sean



This is why the likes of Grey1 use pair trading as it offsets this kind of event.


Paul

Paul ,,

Any trades above 5 blocks ( block being 1000 ) must be fully hedged as far as our office is concerned .. We are also not allowed to trade the open but we can trade right up to close of the day ..

Pair trading is a must knowledge for big players ..

If traders just knew how important pair trading is in objectively controlling their STOP LOSS ?
have ya not had enough of subjective STOP LOSS Levels such as S/R, ATR ,SD, ... yet ?

grey1

 

[timsk]

Seguna,
It is as easy as "reading" page 3 of the Sun, you know what you like immediately without having to analyse or assess - the main points stick out immediately.
Richard

:cheesy:
Richard - if I buy the sun each day and pay particular attention to the contents of p3, will that aid my stock selection?
Tim.

 

[boy]

:cheesy:
Richard - if I buy the sun each day and pay particular attention to the contents of p3, will that aid my stock selection?
Tim.

It may well do, timsk. But I think your discipline might need worked on.

 

[layman]

S4T,
I trade US stocks and it works for me.I find it much much better than any other market i've traded.

However if you cant trade then it dos'nt matter what market you trade on.Then dont blame the market youre trading just blame yourself.

 

[Naz]

I'm off to buy the Sun now to see if helps my stock selection.

If it dosn't i'll go back to the old ways of doing it.

 

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The Sun

Gents

(Assuming you are gents of course and are not insulted by that old fashoined term), can we please keep page 3 out of this? Lets remember we have female members on the site.

Page 3 doesnt help most people keep a clear head anyway. I'm told you need one to trade well...

S

 

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Questioning

Layman

I already trade US Stocks and successfully but the implication on this thread is that it is all very easy. I have yet to meet to someone who finds it as easy as is being made out here and all I want to know is if others who have taken this training are finding it as easy?

S4T

Lay off Layman, S4T can ask whatever questions he/she likes. Both for personal and communal good. A good standard of accountability is good for all on these boards.

I recognise however, that in life, there are always more losers than winners and some have used these boards to try and justify their failures and transfer responsibility. That's something we should all guard against.

 

[boy]

Layman

I already trade US Stocks and successfully but the implication on this thread is that it is all very easy. I have yet to meet to someone who finds it as easy as is being made out here and all I want to know is if others who have taken this training are finding it as easy?


S4T

I have been on 1-2-1 day's with both Charts and Naz.
Providing I stick to what I was taught on the day then I would say it was easy, but I still get too eager sometimes and iI bugger up good trades occasionally - but thats my fault not anybody else's.

Is this the reply you were seeking?

 

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I have been on 1-2-1 day's with both Charts and Naz.
Providing I stick to what I was taught on the day then I would say it was easy, but I still get too eager sometimes and iI bugger up good trades occasionally - but thats my fault not anybody else's.

Is this the reply you were seeking?

There you go. Any more former students please?

 

[Naz]

I dont think i'm making it out to be easy.All i'm pointing out is that as a day trader more opportunities exist on the Nasdaq than other most other markets.

If you read my posts you will see how the mm can run the stops in the UK but placing them on ARCA in the US can keep you in the trade in the same situation.

How by picking a a less liquid stock you can take advantage and capture a spread instead of paying it.

How you can trade outside market hours and capture explosive moves from earnings announcements.

How some of the best opportunities on the Nasdaq are in the first hour of trading.

How having the right trading platform can help an individual with their trading.

In all these areas i've tried to not just talk the talk but walk the walk and give live trading examples.I cant do more than that can i.

When it comes down to a trader taking a trade you can see from what Boy says its down to the individual.You can give a number of traders a high percentage set up,then they'll all manage it differently.They'll all take different amounts out of it.The real skill in trading is to look inside yourself as an individual and see what person you are.That will be the honest reflection on how well you will succeed.If you are able to adapt,to improve,to learn then you'll move on.

If you are completely negative in many things then that negativity will filter through into your sub conscious and destroy your trading and your out look on trading.

Many well balanced traders will not post if they see complete negativity from someone.They'll keep themselves to themselves.Thats human nature.

Naz

 

[lwebb]

Naz,

Just curious, like others I'm sure. Could you give details of the cyber room you run and how to join.

Thanks.