Early Morning Range Breakouts using time and sales

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Old Nov 5, 2012, 9:15pm   #511
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread SFLY Short 83 @ 27.11 Stop @ 27.51
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Old Nov 5, 2012, 9:41pm   #512
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread CERN Long 34 @ 78.96 Stop @ 78.71

Last edited by robocop; Nov 5, 2012 at 10:02pm.
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Old Nov 5, 2012, 10:45pm   #513
 
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Re: Early Morning Range Breakouts using time and sales

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Daysummary

Entry at crosshair, exit at end of chart

trades-11-05.jpg

cern2.jpg

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I changed my lot size to start trading with very limited capital (ca. $1000). Risking around 2 to 4 percent per trade. It is of no use to start trading with IGMarkets, because their minimum commission structure is already my inital risk ($30 per roundtrip, that's 3% of capital). With IB commissions this can be viable, but they won't let you open an account if you have only $1000 to trade with, their minimum is $10000 and for daytrading you will need $30000.

Then the alternative is spreadbetting with IGIndex or CityIndex, but then you will need to overcome the spread on a regular basis. The spread differs per stock and time, but is somewhere between 10 and 15ct/share. Thus you will need a move of 10ct in your favor before you get breakeven. It is relativly easy to get 10 or 15 ct out of a stocks daily move, but it is very hard to get 20 or 30 ct out of a move on a regular basis.

To overcome the spread the daily range of the stock must be high enough so you only need a part of the move and not the low and high of the day every trade.
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