Mr. Charts
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The spread was 4 cents.........
I often trade inside the spread anyway acting as a market maker.
I often trade inside the spread anyway acting as a market maker.
Best Thread US day traders thread.
Naz
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Short term swing trading.
As well as day trading Nasdaq stocks i also swing trade UK stocks.At the moment i'm in NLR.
Its slow and dull but it trundles on and if i'm lucky i hope to make up to approx 8% in about 3 days since my entry.
All i'm looking for are stocks that are poised to move.
During the three days i have lots of time to think about NLR and of course different feelings come into ones head but i have to keep focused and leave the emotion aside.
Contrast this with a Nasdaq stock i was trading testerday FOXH.I found the stock along with others,spending the same amount of time as i did finding NLR.It runs 15% in 3 hours in a nice trend.
How did i know when it was ready to trade? An intra day scanner i use popped up and let me know,so i dont have to stay glued to the chart all the time and it means i can use the scanner to watch all the hot stocks that day.
As a trader using a short term swing trading style of trading (rather than a quick scalping style)all i'm doing is exactly the same things with both stocks but on the Nasdaq i can find more of them and i can get the runs over and done with in hours rather than days.
This is one reason why many short term traders who trade for a living trade Nasdaq stocks.The stocks are there, the moves are there,the trading platforms are excellent.After all its a business and in business one seeks out the best opportunities.All one needs is the ability to trade it and that of course is a personal thing.
Naz
As well as day trading Nasdaq stocks i also swing trade UK stocks.At the moment i'm in NLR.
Its slow and dull but it trundles on and if i'm lucky i hope to make up to approx 8% in about 3 days since my entry.
All i'm looking for are stocks that are poised to move.
During the three days i have lots of time to think about NLR and of course different feelings come into ones head but i have to keep focused and leave the emotion aside.
Contrast this with a Nasdaq stock i was trading testerday FOXH.I found the stock along with others,spending the same amount of time as i did finding NLR.It runs 15% in 3 hours in a nice trend.
How did i know when it was ready to trade? An intra day scanner i use popped up and let me know,so i dont have to stay glued to the chart all the time and it means i can use the scanner to watch all the hot stocks that day.
As a trader using a short term swing trading style of trading (rather than a quick scalping style)all i'm doing is exactly the same things with both stocks but on the Nasdaq i can find more of them and i can get the runs over and done with in hours rather than days.
This is one reason why many short term traders who trade for a living trade Nasdaq stocks.The stocks are there, the moves are there,the trading platforms are excellent.After all its a business and in business one seeks out the best opportunities.All one needs is the ability to trade it and that of course is a personal thing.
Naz
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Naz
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A whole lot of stocks have set themselves up today after results last night.Nasdaq day traders should have them all on a list.Or use a scanner that will find them.
One of the best morning moves yesterday was HANS after the a negative news story pushed down the price, those traders that know came in and ran it up $7 in 1 1/2hours.or to a spread better 700 points.
Contrast that to the DOW that had a range of 70 points yesterday and you can see that by picking the right US stock you can get up to 10x the potential than trading an index.
One of the best morning moves yesterday was HANS after the a negative news story pushed down the price, those traders that know came in and ran it up $7 in 1 1/2hours.or to a spread better 700 points.
Contrast that to the DOW that had a range of 70 points yesterday and you can see that by picking the right US stock you can get up to 10x the potential than trading an index.
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Nasdaq Totalview
Hi Naz,
Sorry to jump into your thread and ask a distracting question but I thought you might have opinions on a subject which might be of interest to other US day traders.
Do you know what the benefits of Nasdaq Totalview are over Nasdaq Level II plus ECN books and do you use it? I understand that Brut order book data is now only available as part of Totalview and I need an additional monthly subscription to receive that over and above my Level I, Level II and ECN fees. Just wondering whether to take it. I don't currently actively monitor Brut order book specifically except as part of my overall level II display - perhaps I am missing a trick or three already. (undoubtably I am missing many tricks of course).
I would be interested on any view you have on the subject of how to exploit Totalview
Gareth
Hi Naz,
Sorry to jump into your thread and ask a distracting question but I thought you might have opinions on a subject which might be of interest to other US day traders.
Do you know what the benefits of Nasdaq Totalview are over Nasdaq Level II plus ECN books and do you use it? I understand that Brut order book data is now only available as part of Totalview and I need an additional monthly subscription to receive that over and above my Level I, Level II and ECN fees. Just wondering whether to take it. I don't currently actively monitor Brut order book specifically except as part of my overall level II display - perhaps I am missing a trick or three already. (undoubtably I am missing many tricks of course).
I would be interested on any view you have on the subject of how to exploit Totalview
Gareth
US Day Trading
Dear Naz
I clearly see your point about the much wider range of opportunities available by trading thousands of stocks vs two or three indices. However, my question remains that of
1. Liquidity in the particular stock
2. How much screen/scanning time is needed to identify these opportunities.
If one is not a full time trader, how can you always be in the know - monitoring news and chart setups? What would the way forward be if you can only spare a couple of evening hours?
Naz said:
Dear Naz
I clearly see your point about the much wider range of opportunities available by trading thousands of stocks vs two or three indices. However, my question remains that of
1. Liquidity in the particular stock
2. How much screen/scanning time is needed to identify these opportunities.
If one is not a full time trader, how can you always be in the know - monitoring news and chart setups? What would the way forward be if you can only spare a couple of evening hours?
Naz
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I agree with Paul that there are no additional benefits of using Totalview,i would never use it.
Liquidity of a stock.If one finds a good looking set up in any stock and the lack of liquidity puts a trader off then he/she moves on to the next candidate.With thousands of stocks out there a trader should instantly know by looking at the liquidity on the level 2 screen which ones they feel comfortable trading and which ones they dont.
Liquidity of a stock.If one finds a good looking set up in any stock and the lack of liquidity puts a trader off then he/she moves on to the next candidate.With thousands of stocks out there a trader should instantly know by looking at the liquidity on the level 2 screen which ones they feel comfortable trading and which ones they dont.
Naz
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seguna said:
The answer is no time what so ever can be spent finding these opportunities.
The way forward for any US trader from the autumn will be a new intra day scanner that will do all the work every day for any trader including ones with just a spare couple of hours in the evening.
Just switch the scanner on at any time of the day and it will call intra day setups for the hottest stocks that day. A trader can also take note of previous calls which will give the stock code,alerting the trader that stock has been picked for potential movement that day. A button by the side of the stock will alow the trader to view any news stories on the company that have initiated the move and live trading comments will also be added during the day.
I hope it will be advertised on t2w.In beta testing it has performed very well.
Naz
Naz
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Hottest stock of the day has to be BIDU absolutely awesome, i had three trades in it,the best being a $15 run in 9 mins.Now i have come back to the screens after a break to see its full daily range has been from about $60 - $145.Where else but the Nasdaq do day traders get the potential for these type of moves!
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Mr. Charts
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Mr. Charts
Legendary member
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Mr. Charts
Legendary member
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On the first image price had fallen to the area of support and clearly stopped falling. Having watched this stock earlier I knew once a sharp move had happened, a very sharp reversal was likely.
Watching the trades printing off and the behaviour of the crowd I could see the downwards momentum had died and it had started to reverse up - that was the confimation I needed.
On the second image it can be seen that the expected move took place. Again knowing how sudden any reversal can be in this stock I had a provisional target of the middle of that resistance area around 133 to 138. When it appeared to falter on my trade screens I jumped out, happy to take $14
Richard
Watching the trades printing off and the behaviour of the crowd I could see the downwards momentum had died and it had started to reverse up - that was the confimation I needed.
On the second image it can be seen that the expected move took place. Again knowing how sudden any reversal can be in this stock I had a provisional target of the middle of that resistance area around 133 to 138. When it appeared to falter on my trade screens I jumped out, happy to take $14
Richard
Naz
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No need for fundamentals no need for fancy oscillators.The hot stocks tend to be a pure reflection of human nature where t/a patterns,direct access and trading skills come in to play.
You can see the resistance at $100 (human nature).The classic t/a break of that level,the next one at $120 and finally the shooting star reversal at $150.
Many hot stocks will run all day and typically start a US afternoon run or evening run in the UK about 6.45pm GMT.You can see the break out on BIDU did exactly that.The great thing about the GMT evening move is that traders who come in from work have the advantage of already seeing how the stock has been played out during the day and one easy play is to look for a continuation of the trend.
You can see the resistance at $100 (human nature).The classic t/a break of that level,the next one at $120 and finally the shooting star reversal at $150.
Many hot stocks will run all day and typically start a US afternoon run or evening run in the UK about 6.45pm GMT.You can see the break out on BIDU did exactly that.The great thing about the GMT evening move is that traders who come in from work have the advantage of already seeing how the stock has been played out during the day and one easy play is to look for a continuation of the trend.
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Naz
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More on BIDU mainly because it was the biggest day trading story from Friday.
To find a comparable performance in the IPO market, it's necessary to go back to the dot-com hysteria of 1998-2000.
With a rise of 354%, Baidu.com's first-day gain ranks 18th in history and ranks as the best performance ever by an overseas deal.
The U.S. list is led by a 627% rise from VA Linux Systems in December 1999.
All of the IPOs in the top 20 took place between 1998 and 2000.
Part of the big debut-day move from Baidu.com can be traced to the relatively small size of the deal.
With only 4.04 million shares in the IPO and strong indications of interest from both retail and institutional investors, demand had driven up the price.
To find a comparable performance in the IPO market, it's necessary to go back to the dot-com hysteria of 1998-2000.
With a rise of 354%, Baidu.com's first-day gain ranks 18th in history and ranks as the best performance ever by an overseas deal.
The U.S. list is led by a 627% rise from VA Linux Systems in December 1999.
All of the IPOs in the top 20 took place between 1998 and 2000.
Part of the big debut-day move from Baidu.com can be traced to the relatively small size of the deal.
With only 4.04 million shares in the IPO and strong indications of interest from both retail and institutional investors, demand had driven up the price.
Naz
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Lots of chat about BIDU.Here's some more.
The market suffered a broad based decline with no sectors closing positive. One stock able to avoid the selloff was Baidu.com (BIDU) +$99.54 which unquestionably stole the show today, making a stunning debut on the Nasdaq. The stock closed at $122.54 following an IPO priced at $27 per share. Baidu.com is a Chinese internet search engine that was being compared to Google today. The performance of BIDU took investors back to days of soaring technology stocks and was the talk of many traders.
Are GOOG day traders going to switch now to BIDU,we'll see next week no doubt.
The market suffered a broad based decline with no sectors closing positive. One stock able to avoid the selloff was Baidu.com (BIDU) +$99.54 which unquestionably stole the show today, making a stunning debut on the Nasdaq. The stock closed at $122.54 following an IPO priced at $27 per share. Baidu.com is a Chinese internet search engine that was being compared to Google today. The performance of BIDU took investors back to days of soaring technology stocks and was the talk of many traders.
Are GOOG day traders going to switch now to BIDU,we'll see next week no doubt.
