How To Make Money Trading The Markets.

This is a discussion on How To Make Money Trading The Markets. within the Stocks forums, part of the Markets category; Originally Posted by scholfield lol, are you kidding?? Hi Scolfield No, not at all. Cheers Steve...

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Old Oct 17, 2013, 7:26pm   #2141
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Originally Posted by scholfield View Post
lol, are you kidding??
Hi Scolfield

No, not at all.

Cheers
Steve
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Old Oct 17, 2013, 8:21pm   #2142
 
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Wink Re: How To Make Money Trading The Markets.

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Originally Posted by evostik View Post
Hi D70; please, what is a blotter?

Thanks
Steve
it's what you use to soak up excess ink when writing a letter etc. "Blotter" soaks up ink "blots."

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....Indicators show the past. Price Action "Indicates" the future.
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Old Oct 17, 2013, 8:25pm   #2143
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I think the bracket orders are going to be a good idea. I have always used bracket orders when trading futures (ATM strategy in ninjatrader) but thought I would try trading naked as Richard does. TWS is a little clunkier than Ninja and Im still getting the hang of placing orders. For the most part I feel that I execute stop-outs without much regret, its the sudden movement that seems to be putting me at -15 to -20 on some trades which is alot more than the -5 to -10 I would like.

If you guys are using TWS and mosaic, how do you set up your screens and place orders? I find managing/closing a few trades in short succession to be clunky. Im currently using Mosaics "monitor - portfolio" window to conglomerate my open trades.
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Old Oct 17, 2013, 8:32pm   #2144
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I think I might have over traded today as well and picked a few no so good stocks.

XIV +10
UVXY +4
TSO -11
SNDK -29
SFUN -67
KERX -13
AMT -7
ABT +13

Shameful, Shameful day
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Old Oct 17, 2013, 8:48pm   #2145
 
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Mr. Charts started this thread stefan,
Keep away from large spread stocks, and on 1 min candles limit yourself to stocks with ATRs of <8.
If on 3 min candles, then ATRs of <15.
As it happens, SNDK, AMT, ABT were also on my list, but I didn't trade them as they didn't fulfill my criteria (at least not when I was looking at them); but you probably know that if you've read my blog today.
Don't be so hard on yourself, you've just started !
I always advise people to paper trade first, not with real money. Of course there is no emotion paper trading but if you're not profitable paper trading you're not going to succeed for real, though success at paper trading is no guarantee in the real thing.
Richard
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Old Oct 17, 2013, 10:53pm   #2146
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Originally Posted by Mr. Charts View Post
stefan,
Keep away from large spread stocks, and on 1 min candles limit yourself to stocks with ATRs of <8.
If on 3 min candles, then ATRs of <15.
As it happens, SNDK, AMT, ABT were also on my list, but I didn't trade them as they didn't fulfill my criteria (at least not when I was looking at them); but you probably know that if you've read my blog today.
Don't be so hard on yourself, you've just started !
I always advise people to paper trade first, not with real money. Of course there is no emotion paper trading but if you're not profitable paper trading you're not going to succeed for real, though success at paper trading is no guarantee in the real thing.
Richard
Yes I did in fact check out today's post on your site. I like to check it out and see if I've looked at somewhat similar trades as you. I am in fact paper trading and then move to 100-200 lot trades with cash. The thought of only risking a handful of dollars per trade to start vs the sometimes hundreds in futures at a minimum is great as long as you can over come the $25,000 PDT rule.

Ill make sure to stick to the lower ATR stocks. do you recommend trading off the 1 or 3 min charts? I currently use 1 min in the morning session.
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Old Oct 18, 2013, 2:45pm   #2147
 
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Mr. Charts started this thread Another ETF the chart of which I always have up is TQQQ (PROSHARES ULTRAPRO QQQ) which moves at about three times the Nasdaq. Since QQQ is moving about more than SPY or DIA at the moment it's worthwhile keeping an eye on for sudden surges/plunges as well as several set ups.
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Old Oct 28, 2013, 1:07pm   #2148
 
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Hi there Richard
What's the link for your blog please?
Rgds
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Old Oct 28, 2013, 1:20pm   #2149
 
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Mr. Charts started this thread I can't tell you that because they will ban me for advertising !
You could google my real name or my nick or PM or email me.
Richard
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Old Oct 28, 2013, 8:03pm   #2150
 
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I can't tell you that because they will ban me for advertising !
You could google my real name or my nick or PM or email me.
Richard
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