Breakout Trading using Time and Sales

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Old Mar 14, 2010, 7:56pm   #106
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Re: Breakout Trading using Time and Sales

heh, i haven't went live yet i've got exams soon and those are priority, in the mean time learning economics etc.

Basically what i look for is to anticipate central bank policy and how that effects the markets and trade off of that, scaling in to get in on a trend.
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Old Mar 14, 2010, 8:19pm   #107
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread Interesting. Where are you studying? Are you studying economics?

I am also finishing up a degree in financial economics. Actually, one of my courses this semester, Macroeconometric Modeling, we just did a project that sort of relates to your trading style.

I investigated the effect of an increase in U.S. interest rates on Canada's macroeconomy using a macroeconometric model at my university. Found that if U.S. interest rates increase while Canadian interest rates stay constant, then this will lead to a significant appreciation of the U.S. dollar relative to that of the Canadian dollar.

To be completely honest, I don't trade FX. However, the fact that the Canadian dollar is almost at parity with the U.S. dollar (again) is just odd. There is no way, in the long-run, the U.S. and Canadian dollars can be at parity. It's definitely time to stock up on plenty of U.S. dollars and wait till the fed increases interest rates and the U.S. economy rebounds. Thankfully my broker account lets me choose whichever currency I wish to denominate my funds.

If only all trading would be as obvious as the U.S. - Canada FX pair.

Best of luck on your exams!

Amit

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Originally Posted by FXTrend240 View Post
heh, i haven't went live yet i've got exams soon and those are priority, in the mean time learning economics etc.

Basically what i look for is to anticipate central bank policy and how that effects the markets and trade off of that, scaling in to get in on a trend.
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Old Mar 15, 2010, 5:32pm   #108
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Re: Breakout Trading using Time and Sales

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Originally Posted by amit1986 View Post
Interesting. Where are you studying? Are you studying economics?

I am also finishing up a degree in financial economics. Actually, one of my courses this semester, Macroeconometric Modeling, we just did a project that sort of relates to your trading style.

I investigated the effect of an increase in U.S. interest rates on Canada's macroeconomy using a macroeconometric model at my university. Found that if U.S. interest rates increase while Canadian interest rates stay constant, then this will lead to a significant appreciation of the U.S. dollar relative to that of the Canadian dollar.

To be completely honest, I don't trade FX. However, the fact that the Canadian dollar is almost at parity with the U.S. dollar (again) is just odd. There is no way, in the long-run, the U.S. and Canadian dollars can be at parity. It's definitely time to stock up on plenty of U.S. dollars and wait till the fed increases interest rates and the U.S. economy rebounds. Thankfully my broker account lets me choose whichever currency I wish to denominate my funds.

If only all trading would be as obvious as the U.S. - Canada FX pair.

Best of luck on your exams!

Amit
can't say where i study .

if US interest rates increase then money from lower-rate canada 'should' flow into US interest-yielding accounts.that happens but not all of the time , depends on global risk appetite/risk aversion , or if the US economy is in a real state then canadians may not want to put money there. Also CADUSD is very correlated with oil due to the US's inelastic demand for it. There are many many variables with fundamentals and imo it can be very tricky to figure out what's going on, however, that's why imo scaling in is good, scale in some of your capital, if you're wrong, meh you lost 4-5% (depends) but if you're right, you've caught a nice trend and can pyramid in and ride for potentially year-making gains .
lots can be made day trading stocks too, just watched john carter making over 100,000 in one day trade .

Also, with global macro views you aren't just tied to currencies, you can try going long the SP500, gold,oil, bonds, whatever!
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Old Mar 16, 2010, 2:40am   #109
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread Very interesting post FXTrend!

I am simply saying that when the U.S. economy starts to get on its toes again (which it will do), then the U.S. dollar is definitely going to appreciate against the Canadian dollar. The two dollars cannot be at par in the long-run.

Amit

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can't say where i study .

if US interest rates increase then money from lower-rate canada 'should' flow into US interest-yielding accounts.that happens but not all of the time , depends on global risk appetite/risk aversion , or if the US economy is in a real state then canadians may not want to put money there. Also CADUSD is very correlated with oil due to the US's inelastic demand for it. There are many many variables with fundamentals and imo it can be very tricky to figure out what's going on, however, that's why imo scaling in is good, scale in some of your capital, if you're wrong, meh you lost 4-5% (depends) but if you're right, you've caught a nice trend and can pyramid in and ride for potentially year-making gains .
lots can be made day trading stocks too, just watched john carter making over 100,000 in one day trade .

Also, with global macro views you aren't just tied to currencies, you can try going long the SP500, gold,oil, bonds, whatever!
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Old May 14, 2010, 6:05pm   #110
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread Been a while since I posted here last. Today presented quite a few good trading opportunities (unlike yesterday's slow behavior), so thought I'd post one of those trades here.

This trade, FITB, is based on Mr. Charts' strategy on this thread. As it opened, it fell with every candle making lower highs. Entry on the cross-hairs at 14.30 due to strong momentum on level 2/time and sales and exit two minutes later at 14.11 for a good 19 cents per share. Not too bad for 2 minutes work.

Amit
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Old May 14, 2010, 7:05pm   #111
 
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Re: Breakout Trading using Time and Sales

Nice one, Amit
Take care,
Richard
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Old Jul 9, 2010, 4:07pm   #112
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread A bit of a different trade today - slightly different setup as the one on Mr. Charts' thread.

Although this chart shows no evidence of a trend, it was a pure level 2 breakout trade. Many people say that level 2 is pointless nowadays, however I disagree. It may be the case that level 2 is not as useful now as it may have been several years ago, but there are still techniques on level 2 that give traders an edge in the markets. I learned these techniques from Mr. Chart's himself through the one-to-one coaching.

BIDU breakout 4-minutes after the market opened. Quickly scalped (not intentionally) 38.5 cents per share in under one minute! There were a couple of other good breakout trades this morning as well. If anyone is interested, I can post them as well.

Amit

P.S. For all those skeptics out there who may doubt the validity of my trades, I am also attaching a screenshot of my broker window with my trade details!
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Old Jul 12, 2010, 5:32pm   #113
 
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Re: Breakout Trading using Time and Sales

Nice trade, Amit
Richard
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Old Jul 13, 2010, 4:59pm   #114
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread Thanks Richard!
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Old Jul 13, 2010, 5:02pm   #115
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread BIDU is starting to become one of my favorite trading stocks!

Took two trades on BIDU today.

Trade 1: +16.5 cents per share
Trade 2: +31 cents per share

Amit
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Old Jul 13, 2010, 5:10pm   #116
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Re: Breakout Trading using Time and Sales

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BIDU is starting to become one of my favorite trading stocks!
POT was my favourite when I traded stocks - couldn't get enough of it!
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Old Jul 13, 2010, 6:47pm   #117
 
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Re: Breakout Trading using Time and Sales

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POT was my favourite when I traded stocks - couldn't get enough of it!
You get arrested for that you old bugger
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Old Jul 13, 2010, 6:50pm   #118
 
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Re: Breakout Trading using Time and Sales

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You get arrested for that you old bugger
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Old Jul 23, 2010, 3:26pm   #119
 
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Don't always get entries/exits right all the time...

amit1986 started this thread I don't get entries or exits right all the time. Here's a quick example from this morning. AMZN gapped down and started trending up. I went long at 108.17, just prior to the breakout level as I saw strong momentum on level 2 / time & sales. Exit 16 seconds later at 108.33 for only 16 cents per share.

Clearly, from the chart, I got out too early - far too early. The stock continued rallying to 110.35. However, it was just far too volatile and I was not at all feeling comfortable staying in it, so decided to get out.

Can't be too disappointed I guess.
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Old Aug 2, 2010, 2:19pm   #120
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread The following stocks could present some interesting trading opportunities today: TEVA, DNDN, BIDU, NFLX, and GERN. Going to be keeping a close eye on them as the market opens.
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