Best Thread US day traders thread.
Mr. Charts
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The correct application of micro-analysis including level 2 etc is an additional tool and can and does generate greater profits.
For example, it enabled me and my group to take the opportunity of getting the initial bounce in QCOM (this stock being referred to in posts 1936,7) within one cent of the low - in other words going long at what later proved to be the low. That would be impossible without a thorough understanding of level 2 and some experience using it.
It's worth checking out the one minute candle charts for not only QCOM and its time stamp but also the times of my MRVL and NVDA posts and then looking at the one minute charts to see what happened next.
In my opinion, chart set ups are only a part of the story, there is something more and that is what I call micro-analysis.
Please note the image is from my site which is private to its members and is by invitation only, so this is not an advert for it.
There is a tiny sample video of micro-analysis on K Lab. http://www.trade2win.com/knowledge/articles/general_articles/an-example-of-tape-reading/ which I hope someone finds interesting and/or helpful.
Richard
For example, it enabled me and my group to take the opportunity of getting the initial bounce in QCOM (this stock being referred to in posts 1936,7) within one cent of the low - in other words going long at what later proved to be the low. That would be impossible without a thorough understanding of level 2 and some experience using it.
It's worth checking out the one minute candle charts for not only QCOM and its time stamp but also the times of my MRVL and NVDA posts and then looking at the one minute charts to see what happened next.
In my opinion, chart set ups are only a part of the story, there is something more and that is what I call micro-analysis.
Please note the image is from my site which is private to its members and is by invitation only, so this is not an advert for it.
There is a tiny sample video of micro-analysis on K Lab. http://www.trade2win.com/knowledge/articles/general_articles/an-example-of-tape-reading/ which I hope someone finds interesting and/or helpful.
Richard
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Mr. Charts said:
Hmmmm..... Richard you know I have nothing against your methods but that is just a little to sweeping a statement if your a skilled pattern trader especially coming into an obvious 1/4 support.
If your just watching price and vol, the 14.39 & 14.40 candles start giving the game away that there's discrete demand coming into the market at a" traffic light" level.
I personally would of weighted for the obligatory "shake and bake" to pass and then enter on the re test around the 14.48 but if people are comfortable in watching the price move quickly in favour then swiftly eroded again to test your nerve, then hats off, I just prefer a simple life.
The charts tell off hidden demand before the level was reached...would I of jumped straight in on the 14.41 probably not , but thats not to say that its impossible to nail the low with out L2. I just prefer for the players to get the mischief out of the way and enter on the re-test.
Anyway nice to see you posting on here again
Bez
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I just had a quick look of NVDA after you say "lovely pop" on the screen shot....
I can clearly see why its on your radar....but to say its only possible with l2 :?: :?:
The demand* is there (on the 1min) well before the 14.39 bar :?:
Please don't take this as an attack on your methods its not!! You should know me better than that, this chart is just an example of what I see with out the need to look at level 2 or add any of my favoured "scaffolding" such as waves and fibs....
Bez
*Ignoring the higher frames...
I can clearly see why its on your radar....but to say its only possible with l2 :?: :?:
The demand* is there (on the 1min) well before the 14.39 bar :?:
Please don't take this as an attack on your methods its not!! You should know me better than that, this chart is just an example of what I see with out the need to look at level 2 or add any of my favoured "scaffolding" such as waves and fibs....
Bez
*Ignoring the higher frames...
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Video Clip...
I viewed your video that describes the establishment of an Rhat short position with interest.
When you exclaim 'Now!' to signal the precise moment at which you enter the short position, I am not yet seeing the trigger that you saw in L2.
Would you give a further explanation of what, exactly, you saw in L2 so that I can see it, too, when I watch the video again?
Thanks,
Mike
Hi Richard,Mr. Charts said:
I viewed your video that describes the establishment of an Rhat short position with interest.
When you exclaim 'Now!' to signal the precise moment at which you enter the short position, I am not yet seeing the trigger that you saw in L2.
Would you give a further explanation of what, exactly, you saw in L2 so that I can see it, too, when I watch the video again?
Thanks,
Mike
Not really, its just another form of psychological scaffolding for me to put on top of the price and vol....If I need some form of "extra" scaffolding, I normally go for fibs and waves ..
Thats just I how use things, i'm far more comfortable with charts......
Bez
Thats just I how use things, i'm far more comfortable with charts......
Bez
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Mr. Charts
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Bullseye for Pitbull - of course ;-)))
Richard
Bez,
I see and do the same thing as you do, but there is another dimension, an added depth. Sometimes micro-analysis tells me very little;
sometimes it tells me what is going to happen BEFORE it appears on a chart;
sometimes it simply provides confirmation;
sometimes it confirms the chart as merely noise and intra-candle volatility;
sometimes it tells me a shadow on a candle has absolutely nothing to do with buy/sell pressure; sometimes it tells me the chart is not telling the whole or only truth.
But, Bez, we shall just have to agree to differ, but a good amicable debate, sir ;-)
Richard
Richard
Bez,
I see and do the same thing as you do, but there is another dimension, an added depth. Sometimes micro-analysis tells me very little;
sometimes it tells me what is going to happen BEFORE it appears on a chart;
sometimes it simply provides confirmation;
sometimes it confirms the chart as merely noise and intra-candle volatility;
sometimes it tells me a shadow on a candle has absolutely nothing to do with buy/sell pressure; sometimes it tells me the chart is not telling the whole or only truth.
But, Bez, we shall just have to agree to differ, but a good amicable debate, sir ;-)
Richard
I agree with what you say Richard, about what the L2 "window" can at times provide
The slight point of contention I had was, the rather broad statement saying its impossible to nail the low, with out a thorough understanding of level 2 and some experience using it.
I just wanted to highlight that pattern reading skills can also provide clear insight into approaching supp & res points with out the use of L2. Again with NVDA & MRVL the price & vol showed strength well before the break outs trades of the round dollar number's you highlighted on the screen shot.
I agree there's a time and place for everything & there's certainly many ways the skin the proverbial cat..
Hats off for posting though, hopefully this liitle debate has helped some new traders start to understand and possibly investigate more, the deeper mechanics involved in daytrading
cheers
Bez
The slight point of contention I had was, the rather broad statement saying its impossible to nail the low, with out a thorough understanding of level 2 and some experience using it.
I just wanted to highlight that pattern reading skills can also provide clear insight into approaching supp & res points with out the use of L2. Again with NVDA & MRVL the price & vol showed strength well before the break outs trades of the round dollar number's you highlighted on the screen shot.
I agree there's a time and place for everything & there's certainly many ways the skin the proverbial cat..
Hats off for posting though, hopefully this liitle debate has helped some new traders start to understand and possibly investigate more, the deeper mechanics involved in daytrading
cheers
Bez
Guys Guys, very good to see you all posting again. I thought all of you guys stopped trading since you weren't posting anymore. How are you? Richie Rich, Pitbull etc..
Good to see y'all back. You guys trying to get this thread alive again?
I'll be contributing as well then.
-Dave.
Good to see y'all back. You guys trying to get this thread alive again?
I'll be contributing as well then.
-Dave.
Mr. Charts
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Hiya Dave,
For me it depends if the mods keep the threads clean !
Take care
Richard
For me it depends if the mods keep the threads clean !
Take care
Richard
PitBull said:
What do you think. Of course I was long. That was a big day man.
And I made very good money on the open of the next day. GOOG went from 480 down to 473 before the open. And what do you think. No significant news so I got long when buyers came in. That was 2,50 per share in less then 1 minute.
Did you trade it?
-Dave.
Mr. Charts
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It's been brill, Dave, absolutely brill - extremely profitable ;-)
Pitbull, I'm sure Dave got that $20 run, whether it was his usual 10,000 share position size or only 5000, I don't know....
Richard
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Even posted at the same time lol !
Pitbull, I'm sure Dave got that $20 run, whether it was his usual 10,000 share position size or only 5000, I don't know....
Richard
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Even posted at the same time lol !
Mr. Charts
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Only 6000?
Took your eye off the ball there then... ;-)
Richard
Took your eye off the ball there then... ;-)
Richard
