Evening trading US shares

Mr. Charts

Legendary member
7,370 1,194
Many people have day jobs and believe they can't trade intra day because of their work.
However, the US closes at 9 pm UK time and many people are home by 7 pm to 7.30 pm
This means they can trade in the evening if they wish and gradually build up their knowledge and experience - and profits - and perhaps eventually give up the day job and trade full time.
Not everyone can do it, of course, but with determination and persistence it is possible to climb the learning curve for many people. That's up to the individual.

Some evenings it can be very difficult to find opportunities, other times they are everywhere.

Reasons for entries and exits are essentially reading sentiment as I've mentioned many times on the the "Trading the US........." thread.

Here are some examples showing the trades I did tonight, one loss (keep them small and you find them emotionally acceptable ), three wins, total profits 79c per share traded.

The idea of this thread is to show that the transition from doing an unsatisfactory day job to working for yourself from home is to do both in tandem in the early stages - steadily and safely is the way to go, in my opinion.

Richard


AMGN long 54.05
closed 54.33

for profit + 28
 

Attachments

  • amgn230604long.gif
    amgn230604long.gif
    12.1 KB · Views: 1,499
  • amgnsold230604.gif
    amgnsold230604.gif
    11 KB · Views: 1,202

Mr. Charts

Legendary member
7,370 1,194
TASR long 32.78
closed 32.71
for loss - 7
 

Attachments

  • tasrlong230604.gif
    tasrlong230604.gif
    10.4 KB · Views: 925
  • tasrsold230604.gif
    tasrsold230604.gif
    10 KB · Views: 865

Mr. Charts

Legendary member
7,370 1,194
BIIB long 59.01
closed 59.50

for profit + 49
 

Attachments

  • biiblong230604.gif
    biiblong230604.gif
    10.6 KB · Views: 949
  • biibsold230604.gif
    biibsold230604.gif
    10.4 KB · Views: 880

Mr. Charts

Legendary member
7,370 1,194
YHOO long 34.07
closed 34.16

for profit + 9
 

Attachments

  • yhoolong230604.gif
    yhoolong230604.gif
    11.1 KB · Views: 721
  • yhoosold230604.gif
    yhoosold230604.gif
    9.9 KB · Views: 2,358

ChartMan

Legendary member
5,580 46
I agree, but patience is required. I have found that 7pm is an excellent entry time- you have most of the day's position in front of you and often you can find excellent set-ups.I guess you'll need 30 mins preparation time.... If you don't see anything, DON'T trade!
 

Mr. Charts

Legendary member
7,370 1,194
Absolutely right.
I only ever go for the high probability trades. You are in this business to make money, not to take chances so if the opportunity doesn't present itself, walk away.
One of the basic errors is to feel you HAVE to trade - you don't, the market is always there tomorrow.

Richard
 

mik1973

Well-known member
290 13
I haven't dealt in individual US shares but have taken positions in the Dow and S&P (with limited success). Are the trades you are refering to NASDAQ shares or are there opportunities to trade the above indices at around 7pm.

Cheers,
Mick
 

Naz

Experienced member
1,391 24
I agree Chartman 7pm is an excellent entry time.As you also say you've got a lot of the days move already in front of you so this is a big bonus in searching out potential movers.

As an example a $1 run with 300 shares is $300 profit.With ib and Tradestation the commission would be $3 in and $3 out.

The attachment shows an evening move from another day with a dollar run which might be of help.Of course it should also be said that this type of trading is not for everyone and like any type of trading losses can occur.
 

Attachments

  • mrvl.gif
    mrvl.gif
    23.2 KB · Views: 1,144

Naz

Experienced member
1,391 24
Hi Mick,

I dont know about the others but i'm talking about Nasdaq shares .
 

Mr. Charts

Legendary member
7,370 1,194
MIK1973
Those trades were nasdaq shares.
It's worth remembering that if you trade indices or their futures, you essentially have a very tiny number of choices. You might not find decent moves to trade. With shares you have thousands to choose from so the probability of finding decent moves is infinitely better..
I use scanners as well as the stocks on my daily radar list to find the opportunities to make money by finding and trading those movers.
Richard
 

mik1973

Well-known member
290 13
Thanks for your replies, unfortunately i'm not able to open an IB account (in order to trade the Nasdaq effectively), owing to limited resources but was curious as to which markets you were referring to.
Cheers,
Mick
 

Mr. Charts

Legendary member
7,370 1,194
You don't need a lot of money to trade nasdaq. You can trade with cfds but you do need to only go for bigger swings, not quickies, so they are far from ideal. Alternatively you can open an acct with IB with little money and do 3 day trades in five days - that's a good way to get started. I've also seen posts on t2w about UK firms avoiding the US regs and enabling UK citizens to day trade much more.
With will and determination there's often a way round problems.
Richard
 

mik1973

Well-known member
290 13
Thanks for your response Richard. I'm currently trading (using a SB). Could you give an indication what funds would be required to open:
A) A CFD account
B) IB account (ref the three trades in five days)

Is there a reliable CFD provider which offers competitive (read low) spreads in order to trade the Nasdaq? I have researched trading this market but the financial implications have always been the obstacle.

Cheers,
Mick
 

JonnyT

Senior member
2,560 22
A) Forget CFDs the spreads are too wide for such tactics.
B) You will get 50% margin if you have less than $25,000 in your account. Get over $25,000 and you get 25%

For example a $10,000 account could buy/sell $20,000 worth of share
A $30,000 account could buy/sell $120,000 of shares

Given that most stocks trade in the $10s you need to be trading 1000+ shares of each stock to make a living.

To just try out IB you could open an account with the minimum balance plus a bit for losses etc.

JonnyT
 

bdholmes

Junior member
34 1
Mr. Charts said:
MIK1973
With shares you have thousands to choose from so the probability of finding decent moves is infinitely better..
I use scanners as well as the stocks on my daily radar list to find the opportunities to make money by finding and trading those movers.
Richard

When you trade US stocks, at what point does liquidity become a problem? I currently trade the eminis and the Euro FX contract so volume isn't a problem for me. I'm looking to do the same as you and start trading US shares using Tradestation RadarScreen and IB. In your experience, when does slippage and not getting fills become a problem in terms of shares traded per day? Are there really thousands of US stocks with enough volume?

Many thanks,

Brendan
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock