Best Thread US day traders thread.

[Trader333]

When trades are going through T&S at 35.99, anyone have an idea why I would get filled on a market order at 35.96? I wouldn't mind if I was going long but it was a short.............

What was the size of your order ?
What was the inside Bid at the time ?
What was the inside Ask at the time ?
Which broker were you using ? (I bet is wasnt any true Level II direct access platform was it ?)

Actually even more relevant is do you know what the inside Bid and Ask were for the broker you were using ?


Paul

 

[Gadgetman]

What was the size of your order ?
What was the inside Bid at the time ?
What was the inside Ask at the time ?
Which broker were you using ? (I bet is wasnt any true Level II direct access platform was it ?)

Actually even more relevant is do you know what the inside Bid and Ask were for the broker you were using ?


Paul

Hi Paul
As highlighted on the T&S, I only traded 100 shares - back down to that this week, still better than paper trading.
Bid was .99 Ask was .00. Price started to drop just after I was filled.
And you're right about the the direct access - all through TradeStation.........."Intelligent" Routing.

 

[wheezergeezer]

G/Man, cant sleep ???

 

[Gadgetman]

G/Man, cant sleep ???

Ditto

When you get to my age, you don't need a lot (of sleep.........)

 

[wheezergeezer]

Know what you mean dude, Ive just finnished work..........thats my excuse..........

So Good Night or should that be Good Morning

 

[BoyTrader]

Hi Paul
As highlighted on the T&S, I only traded 100 shares - back down to that this week, still better than paper trading.
Bid was .99 Ask was .00. Price started to drop just after I was filled.
And you're right about the the direct access - all through TradeStation.........."Intelligent" Routing.

Hi everyone,

Sorry to interupt GM but...

this is my first post to this thread as im gonna start trading the Nasdaq, just building the right amount of capital & waiting for a new computer to arrive... so im the process of studying & reading all the books I can, seriously I cant put the books down!!!!

I was reading a part this morning on the train to work on SOES re market orders in volatile stocks & it's my understanding that although SOES provides lighting fast fills they are executed in the order in which they are received ! so to answer your question GM it appears there may have been orders in front of you which moved the price....

Hope this helps...

Happy trading everyone

It's good to talk........BT

 

[laytonm]

Tax for UK folks with a US equities account

Hi All

Have not posted for a few weeks - had to drop daytrading because of an upsurge in activity with the 'day job'. Have been swing trading US stocks which is also fun, but needs a little more patience. Trying to free up some time given that it's 'earnings time'. Would be a pity to miss it.

This is the first full year that I've had a direct access account in the US (previously used cfds and sb). I had a statement (1042-S) from Penson showing my gross income and US federal tax withheld. Is this info simply for my UK tax return, or is there more to it ?

I thought someone on this board who's been doing this for longer than I might be able to help me out with this.

Cheers

Mark

 

[samtron]

Hi All

Have not posted for a few weeks - had to drop daytrading because of an upsurge in activity with the 'day job'. Have been swing trading US stocks which is also fun, but needs a little more patience. Trying to free up some time given that it's 'earnings time'. Would be a pity to miss it.

This is the first full year that I've had a direct access account in the US (previously used cfds and sb). I had a statement (1042-S) from Penson showing my gross income and US federal tax withheld. Is this info simply for my UK tax return, or is there more to it ?

I thought someone on this board who's been doing this for longer than I might be able to help me out with this.

Cheers

Mark

Hi Mark,
I don't think this will help, but I use IB and they have some information on their website about tax and tax forms for non USA residents. The information can be found at the following links
:
Link1

Link2

cheers

 

[laytonm]

Cheers, I'll take a look

Hi Mark,
I don't think this will help, but I use IB and they have some information on their website about tax and tax forms for non USA residents. The information can be found at the following links
:
Link1

Link2

cheers

 

[BlackPanther]

My first trade

Hi all,

This thread has been a bit dead lately, however as I am not sure if I should post it in Naz's thread or not and I have just become a "US day trader" I am posting it here.

Well, I've finally started "trading" with my first proper trade - a 54-second scalp on AAPL for +13c. It's only a small one - but is a happy beginning for me!

I saw many many opportunities today, and just need to get a bit better at paying attention and finding them in the right time together with having the discipline to enter them and not just wait and wait until it has become too late. However, I'm a programmer previously so am going to work my way around to setting something up to help me with this.. I'm sure the discipline is also something that will come with practice/patience/time.

A HUUUUUUUGE thanks has to go out to my coach and mentor, Mr Charts. I had a couple of courses, about one a year ago before getting married (tip for anyone: If you are going to get married, your trading will probably have to wait) and then never had time to get around to it - finally I started my revision again and had a live session last week with him. The day was absolutely fantastic, and the stocks that were picked...boy did they move!! I've learned one hell of a lot, especially regarding micro-analysis of when to enter/exit moves for the maximum profit potential. It's one skill I don't think I will ever be able to give enough thanks for having been taught.

If he was in to coaching for the money, I'd surely be reserving him entirely for myself!

I truly admire the people here who are committed to trading, and who help others. I've especially enjoyed posts by Mr Charts, Naz, dvdh, PitBull, samtron and others who I have forgotten the handles of because I haven't read this thread lately. It's people like you who have inspired me to get into trading. Keep at it...

I should be posting here more soon, but am leaving the country tomorrow so may not be around for a week or so

I hope everyone is doing well, and reeping the rewards that the market gives out!

BP

 

[Mr. Charts]

quote

A HUUUUUUUGE thanks has to go out to my coach and mentor, Mr Charts. I had a couple of courses, about one a year ago before getting married (tip for anyone: If you are going to get married, your trading will probably have to wait) and then never had time to get around to it - finally I started my revision again and had a live session last week with him. The day was absolutely fantastic, and the stocks that were picked...boy did they move!! I've learned one hell of a lot, especially regarding micro-analysis of when to enter/exit moves for the maximum profit potential. It's one skill I don't think I will ever be able to give enough thanks for having been taught.

end quote

Thanks for your kind words, BlackPanther.
I enjoyed our day very much too and thanks for your hospitality.
The live sessions where I pick stocks before market and on going during market hours, enter and exit in real time using the methods I teach are normally very enjoyable, although very rarely you can a get a day when there is little action. There has only ever been one like that.
Have a good journey back and let me know if you have any questions whatsoever I'm always happy to help and guide.
Take care,
Richard

 

[BlackPanther]

Hi Richard,

Cheers for the response. I have found it truly amazing how many opportunities the market is throwing up. Anyway, off to Heathrow in under an hour and thought I'd have a quick look at the market. Unfortunately only 4 hours of sleep (both previous 2 nights)... however I am going to be honest here and admit my mistakes for all to see:

I shorted AAPL and didn't get out quick enough when it moved against me, very silly - I lost 12 cents on that. However, I then took a quick scalp on NBIX for 55 cents (only to see it fall more than double that! But that's life.. and I will learn)

I then tried a short on YHOO but closed for -4, followed by going to AAPL and seeing a short but not taking it til later. When I did take it I got a bit confused by my software platform showing my last trade as a "Long" when I was sure I had shorted it.. it seems that it was just my previous trade and that I hadn't been filled yet on my current order (IB sometimes spoil you, othertimes a touch of patience is needed!). I closed out by frantically clicking close, instead of understanding what the problem might have been (hey, if anyone had thought they'd been long at that moment they'd panic!) and missed an absolute beauty.

However, all is not lost - some more valuable lessons learned - I've got to follow the rules better and be more disciplined!!

Total for the day (or rather, first 10 mins): -12, +55, -4, +1. Net: +40

It'll buy me some beers at least...

BP

 

[Mr. Charts]

Hi Black Panther,
That's a good net result for only the second day !
Hope your journey back went well.
Great potential movers yet again this afternoon, huh? ;-)))
Richard

 

[smbtnt]

Mr C,

What do you have penned in your watchlist for today?

 

[Mr. Charts]

smbnt,
Sorry not to reply sooner.
You have a pm

 

[Bez]

A quick example on lookng for a break of a half centary number of a weak dumper play stock that laboured up to its 50%....

 

[Bez]

Its Samtron's fault for getting me a little nostalgic

Note No level 2 on QCOM just the basic eyeball pattern stuff & the Futs

 

[Bez]

Update...

Once the "Scanner boys" pick up that its at the low of the day we should squeeze a few more cents out of it ....

 

[Bez]

Thats me done... the pikers can play with it now.....

QCOM is not the most exciting stcok but I just wanted to show a dumper afternoon play.

 

[samtron]

Its Samtron's fault for getting me a little nostalgic

Note No level 2 on QCOM just the basic eyeball pattern stuff & the Futs

Cheers Bez- Top stuff as always.