Best Thread US day traders thread.

[PitBull]

Nevermind its just gone to $78.

 

[PitBull]

Missed your post timaru. LOL

 

[timaru69]

Missed your post timaru. LOL

RIMM was moving so fast and with such volatility I would have been glad of a $2 profit. I need to speak to my Level II provider to see if there is a "bullet time" button on my direct access

 

[Cigar]

here is a link to a free e-book on the use of the first 30 minutes high/low. Its a 70 page pdf file. The last 20 or so pages concern their scanner. Its a good read.. well written with good illustrations.


http://scans.marketgauge.com/GetOReBook_step1.asp

 

[Jerry Olson]

Hi Cigar

we all use that 30 minute rule in the real time room...during the morning hours we draw horizontal lines at the highs and lows and then set alerts for triggers on the futures and stock we watch, as they break up or down.

it sets thing up for a "trend day", then if we take out the day before highs or lows we are in a follow the trend mode long or short and not fighting it..

best regards

jerry

 

[JonnyT]

AAPL and size

Whenever I look at trading stocks via IB I can never see enough size to make this worthwhile.

For example AAPL. If I look at market depth there are mostly only a handful of shares showing up.

How on earth do you get filled for 100's or 1000's of shares required to make a living?

Am I missing something?

I have attached a snapshot.

JonnyT

 

[robq]

8=800
1=100

 

[ian]

Whenever I look at trading stocks via I can never see enough size to make this worthwhile.

For example AAPL. If I look at market depth there are mostly only a handful of shares showing up.

How on earth do you get filled for 100's or 1000's of shares required to make a living?

Am I missing something?

I have attached a snapshot.

JonnyT

Are you mentoring in stocks?

 

[dvdh]

Whenever I look at trading stocks via I can never see enough size to make this worthwhile.

For example AAPL. If I look at market depth there are mostly only a handful of shares showing up.

How on earth do you get filled for 100's or 1000's of shares required to make a living?

Am I missing something?

I have attached a snapshot.

JonnyT

You see the lots on the Level II screen. 1 lot is 100 shares. 12 lots is 1200 shares. Same thing with time and sales. But your problem is, you have market depth instead of Level II or totalview for Interactive Brokers. You need to login to your account management and subscribe to Level II, or just give IB a call. You have an AAPL book open. And AAPL is one of the most liquid volatile stocks on the nasdaq. There's a LOT more size in this book than what you're seeing.

But as a trading mentor you should know this though!?!?!

-Dave.

 

[JonnyT]

Dave, thanks for that.

The trading mentor tag is a 'joke' and a point to the mods that they really should take more notice.

You need to be a sucessful trader to Mentor and I'm certainly not there with day trading, though position trading is another thing entirely.

JonnyT

 

[dvdh]

Dave, thanks for that.

The trading mentor tag is a 'joke' and a point to the mods that they really should take more notice.

You need to be a sucessful trader to Mentor and I'm certainly not there with day trading, though position trading is another thing entirely.

JonnyT

You're welcome. I was just kidding, though.
Well I know how to day trade, but I haven't got a clue about position trading. Just give me some High Beta Stocks, and I'll know what to do.

-Dave.

 

[JonnyT]

AAPLl!!!

 

[samtron]

Careful now JonnyT You could be had up under the trades description act, this is the UK you know :cheesy:

 

[Jerry Olson]

Whenever I look at trading stocks via IB I can never see enough size to make this worthwhile.

For example AAPL. If I look at market depth there are mostly only a handful of shares showing up.

How on earth do you get filled for 100's or 1000's of shares required to make a living?

Am I missing something?

I have attached a snapshot.

JonnyT

HI Jonnyt

i trade aapl all day long for at least 1000 shares and get filled in less than 1 second using the Laser Platform of Genesis Securities..

We have it set up with a 2 cent spread using the Island Book...so we spray or sweep that order from the top of the book...instant fills without slippage...

i never use Level II to trade or even look at it while i am scalping...too many headfakes in there...

i'l post a snapshot of the layout shortly...

 

[BlueChip Trader]

Whenever I look at trading stocks via IB I can never see enough size to make this worthwhile.

For example AAPL. If I look at market depth there are mostly only a handful of shares showing up.

How on earth do you get filled for 100's or 1000's of shares required to make a living?

Am I missing something?

I have attached a snapshot.

JonnyT

JonnyT,

You can't trade off a market depth platform. You need a really fast Level II platform like Laser where you'll see plenty of size and depth. See my screenshot.

p.s. How's West Bridgford?

 

[Quercus]

JT,
I think you're missing a few decimal places there. I trade Naz stocks via IB in small size up to 500 if they're cheap enough, and 8 means eight hundred, so 32 means 3200. It used to get me too until I compared directly with a QCharts data feed.
Hope this helps.
Q

 

[JonnyT]

JonnyT,

You can't trade off a market depth platform. You need a really fast Level II platform like Laser where you'll see plenty of size and depth. See my screenshot.

p.s. How's West Bridgford?

All that information would probably kill me! Do you really need Level II?

I haven't lived in WB for four years now, but I went down the new wine bar (yet another) at Lunch Time.

Still too many Students.

JonnyT

 

[PitBull]

You need a trained eye JonnyT.
Know what to look for and it stares at you straight in the face before it happens on the chart.

 

[JonnyT]

Can you not just trade of the charts?

There seems to be plenty of movement and opportunity with AAPL for example?

 

[samtron]

JonnyT,

You can't trade off a market depth platform. You need a really fast Level II platform like Laser where you'll see plenty of size and depth. See my screenshot.

p.s. How's West Bridgford?

HI BCT,

This Laser platform seams to be all the rage at the moment, do you have to sign up with Genesis Securities to use it?
I have had a look at their site and the membership procedure looks a little antiquated and time intensive, ie you have to download the application forms, print them out, fill them in and then post them back to the USA.
Do you know if they allow sterling accounts and if so can you transfer funds directly from a UK bank (which is the great thing about IB).