Early Morning Range Breakouts using time and sales

This is a discussion on Early Morning Range Breakouts using time and sales within the Trading Journals forums, part of the Reception category; Originally Posted by robocop ESRX Short 1000 @ 53.97 Stop @ 54.20 cover half @ 53.56...

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Old May 15, 2012, 8:14pm   #92
 
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Re: Early Morning Range Breakouts using time and sales

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ESRX Short 1000 @ 53.97
Stop @ 54.20
cover half @ 53.56
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Old May 15, 2012, 8:20pm   #93
 
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Re: Early Morning Range Breakouts using time and sales

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Covered 1000 shares @ 12.60
GRPN cover the rest for 12.48
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Old May 15, 2012, 8:34pm   #94
 
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Re: Early Morning Range Breakouts using time and sales

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cover half @ 53.56
ESRX cover other half @ 53.55
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Old May 15, 2012, 9:19pm   #95
 
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Re: Early Morning Range Breakouts using time and sales

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Nice trades with markets heading my way in the afternoon.
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Old May 15, 2012, 10:10pm   #96
 
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Re: Early Morning Range Breakouts using time and sales

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1. Although I am using 4 pc's. I often enter trades late as I can only seem
to get to a finite number to be sure of the trade, this reduces the profit in
the trade.
2. Because I dont have enough monitors, I also dont see the
trades setting up in time.
3. I am in the uk, and using spread betting. some
of the stocks are not available to spreadbet, sometimes when they are, IG INDEX doesnt
allow you to short a lot of stocks. Which is frustrating when a stock is
setting up nicely and then you find you are prevented from trading it.
Hi Somesh,

(1) Do you use 4 pc's? I use a 15" laptop and sometimes an attached second 22" screen.
I iterate thru the stocks in my scanner, until I see something that is nearby the early range. Then I look how it behaves and how it was traded earlier, before I hit the buy or sell button.

(2) I think there is no need to have lots of monitors to display all the stocks in your watchlist at the same time. A main monitor with your charting package and another one for the broker software and optionally one for the news (if you are using a news service).

(3) It's true that shorting isn't always available at IG. I have experienced this a few times too. May be the new options feature could provide some help here, but I am not familiar with that. The trades on this thread are papertraded with ProRealtime. It is a fairly good simulator, but I have to pay a subscription license to use it for intraday trading.

Due the fact that I have a dayjob, I cannot trade the US morning session very often. Sometimes I trade it on monday.

Your trades looks indeed familiar with mine. How do you do your stockpicking/selection? Do you use a news service or a scanner, or both?

Do you trade also in the afternoon session? The MAKO and PETD trades do take up a long time to develop. Do you sit at the screen all this time? I trade the afternoon session from (local time) 20:00 until 22:00. Thats long enough for me to hold my concentration.

Cheers,
Robocop
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Old May 16, 2012, 8:30pm   #97
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread GRPN Long 1000 @ 12.85
Stop @ 12.65
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Old May 16, 2012, 8:59pm   #98
 
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Re: Early Morning Range Breakouts using time and sales

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GRPN Long 1000 @ 12.85
Stop @ 12.65
Exit with profit @ 13.14
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