Best Thread US day traders thread.

[Chicken Curry]

I use the Nasdaq Level II screen in a fairly basic way by following what I perceive to be the ax and / or a recognised major player.

If I see him moving up the bid, holding the inside bid whilst moving his ask higher in value and I see no gaps on the bid side and some gaps on the ask side, I will be inclined to go long if I have already identified a long set up.

Opposite for the short side.

This is all I do and sometimes it works and sometimes it doesn't.

What I am unsure of is whether this basic approach is effective or not. ie. when I win, is it due to proper reading of Level II or was it just one of those set-ups that worked anyway ?

I would be interested to learn what other people think is a basic but effective approach to the use of Level II.

 

[Cigar]

GILD on 52 week high (1 cent away..) if anyone is interested. GSCO and UBSS just above it

 

[Gadgetman]

GILD on 52 week high (1 cent away..) if anyone is interested. GSCO and UBSS just above it

Good point - it might form support at 61 on the daily chart.........?

 

[Cigar]

Just noticed its Presidents Day in the US on Monday... better get the valium out.. it could be the shakes with nothing to do. May have to get a life for the afternoon

 

[thevinman]

Hi Guys,

This weekend I had an electricity problem at my home. It fried my computer and three of my monitors(and my alarm clock, router, lamp, digitil tv and printer). Just want to say that you should also take care of possible electricity problems.

Cheers The Vinman

 

[DavidS]

Hi Guys,

This weekend I had an electricity problem at my home. It fried my computer and three of my monitors(and my alarm clock, router, lamp, digitil tv and printer). Just want to say that you should also take care of possible electricity problems.

Cheers The Vinman

That was some problem Peter! Hope you were insured.... :?:

 

[Gadgetman]

FOMC Minutes.......

........are due to be released today at 14.00 ET...............

 

[dvdh]

........are due to be released today at 14.00 ET...............

That's right Peter!!

Yeah David,
can't wait untill they're released. We might actually have a volatile day today, but then again, I say that every day. LOL :cheesy: :cheesy:

-Dave.

 

[samtron]

Hi Guys,

This weekend I had an electricity problem at my home. It fried my computer and three of my monitors(and my alarm clock, router, lamp, digitil tv and printer). Just want to say that you should also take care of possible electricity problems.

Cheers The Vinman

Hey Peter sorry to hear about that!

Are the Gods of Trading trying to tell you something?

good luck today guys!

 

[Jerry Olson]

level 11

Hi all

this is my first post here on trade2win

I am from the US currently trading live in a chat room on paltalk.com.

i wanted to mention about level II trading...as a scalper for 10 years and a trader for 30 i have never watched level II to trade.

i currently use the 5 min charts with the 20 ema and the use of CCI (14) along with ADX and volume..

I just met the guys at trade2 win at the New York City Traders Expo what a great bunch of guys

I think they will drop by my trading room for a looksee sometime this week or next...

today we have traded RIMM long GOOG both ways :cheesy: and AAPL of course..

once i get the hang of this message board i'll post some real time charts i use intraday for scalps, showing bearish and bullish divergences on the CCI that we love to trade...

good luck to you all

regards

jerry

 

[sandpiper]

OptionsJerry,

How's it hangin' dude.....

Welcome to T2W!!

 

[Jerry Olson]

hi sandpiper

geez haven't used that name since the old SI days

can you tell me who you are???

 

[sandpiper]

Jerry,

You wouldn't remember me..... However, I remember you from SI and Theresa Lo's old place, so I thought I'd say hello!!!

Always good to see someone on the boards that knows what they are talking about!!!

Look forward to your postings once you get the hang of the place.

 

[Jerry Olson]

thank sand

T-Lo wow have not seen or heard form her in years, absolutely the best spooos trader/scalper i've ever seen, she real knows her stuff

I still use all her trading techniques right now as we speak... i have aded a few of my own and have stopped trading options nad have become a scalp trader only.

cash each night no holding ever. and sleep like a baby...

AAPL looks ripe for a long if the futes can go, over the 69.75 area..a buy stop up there would pop the trade nicely higher...set buy stops and let er wing...

talk to you soon

best regards

jerry

 

[Jerry Olson]

Fomc Minutes Coming Up At 2.00 Pm Est Usa

The street is waiting for the FOMC minutes released at 2.00 pm est US.

Things should be volatile after the release

i watch the ES H6 e-mini's to trade stocks...

AAPL broke the up trend line form the 12.00 loows up to the 1.00 lows at the 20 ema...

so the buy stop is out..

we now look to catch this lower...maybe right here at 69.05 with 20 cents stops

 

[Jerry Olson]

just sold aapl here at 69.30 for $.25 cents and will look to re enter over the 20 ema... :cheesy:

in edit...69.30

 

[TheBramble]

Hi Jerry, also a welcome from me to t2w.

It's always good to get another perspective on any market. And particularly from a scalper who doesn't use LII.

I look forward to your posts.

 

[hampy]

Good call Jerry, quick 30 cents there :cheesy: .
If it's not giving too much away, would you be able to say how you incorporate the ES into your stock trading.
Thanks, hampy

BTW, welcome to T2W

 

[Jerry Olson]

hi TheBramble

thank yo for the nice welcome...

before we get the Level 2 guys all in a dither i never knock anything that any trader uses to make themselves money...

it's just i do not use it at all..

i am a pattern trader using the 5 min charts and the 20 period exp moving averages along with the 50 & 200...and watching the futes all day long

when i learn how to post a chart here i'll show everyone my daytrading set ups...

regards

jerry

 

[Jerry Olson]

Good call Jerry, quick 30 cents there :cheesy: .
If it's not giving too much away, would you be able to say how you incorporate the ES into your stock trading.
Thanks, hampy

BTW, welcome to T2W

Hi Hampy

the futures lead stocks around by the nose. i use a 3 minute chart with a 10 & 30 period ema, aloing with adx and cci and voilume PERIOD!

The KISS method makes it easier for old guys to make a buck once in awhile

i watch the futes while i am drawing lines on my stock charts setting up alerts for buys and sells..

thanks again

regards

jerry