October US Equity Trading

Trader333

Moderator
8,659 984
On limit orders, and for the one you were wanting to place, it is
always a good idea to put the order in at 1/1000 above (or below for a long position), the exact figure you wanted to be filled at. So in this case you would have placed the limit order at 33.441.
This would improve the chances of your order being filled before
others who are trading at 33.44 Not that it mattered in this case
because you beat the limit price but I have found this to be of
use in the past.


Paul
 
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Grey1

Senior member
2,188 185
Paul,

My EOD scanner short lists daily ( .. this is not my realtime scanner ) short and long candidates to play against each other.. The candidates are then transferred to realtick for CONFIRMATION by the market.

Is not it amazing that all the short candidates are in red to day ?

sean ,

I have mentioned VWAP and how it works in a few posts in the past .. If you could not find it then PM me and I will explain ..
I have also posted on risk element in real time trading , which could be helpful..
 

seancass

Well-known member
329 1
Paul and Grey 1.

Many thanks

Sean
 

Grey1

Senior member
2,188 185
My friday's Long VRTS is trading @ 33.86 .. I have now moved my stop to entry @ 33.47... I will be closing my position on wednesday or earlier should it hit my stop..


I have also shorted AMGN but I fell into a cheap trick and lost quite a bit ...
 

Grey1

Senior member
2,188 185
would not you consider AMGN an excellent short hedged against Long T..

There was also a nice support from L2, 8000 buyer who vanished in the thin air as they often do ,,,

We have many chartists on this BB.... What you think ?

Up date .. I have now closed both AMGN and T with a net loss of around $500 + costs ( gave back all my gains in T against short AMGN .. ) .. My Long VRTS is doing excellent.... currently trading @ 33.98 a handsome profit..
 

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Grey1

Senior member
2,188 185
VRTS closed up by 68C.. I have sold 1/4 of my position letting the other 3/4 to run ..The 1/4 sell was allowed for gapping down 2 morrow ( just in case it does happen )..

AMGN short was a good candidate, but I got cought in a sudden buyers surge on a comment from this CNBC idiot on their Q3 results 2morrow.. (news? who cares about news.. charts knows it all ...)

AMGN closed 2% down ..


Also traded MMM and MO ..
 

Grey1

Senior member
2,188 185
VRTS is up 50C to day trading @ 34.78 Up ( $1.31) from friday

Just raised my stop to 34.50 .
Also in a pair trade

Had a pair signal EK hedged against SBC.. nice divergence
 

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wysinawyg

Active member
186 1
Grey1,

Sorry if you've mentioned before, but are you short EK and long SBC on an expectation of them reverting to mean as it were or long EK and short SBC on the basis that EK is stronger?

wysi
 

Grey1

Senior member
2,188 185
yes, correct .. As soon as one of them reverts to its mean the positons are closed.. I will post a further chart after the trade is over .. Now I have to wait and see.. I am hoping EK to collapse as DOW is in negative ..
 

Grey1

Senior member
2,188 185
this is the after effect of mean reversion ..

EK has now reverted back to its mean... The blue line is EK's VWAP @ 23.72.. can you see how SBC is reverting to its mean as well.. Just keep your eyes on the trade in real time..
 

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Grey1

Senior member
2,188 185
Risk managment is often confused with money managment.. I had no interest where the market was going to go ( even though technically speaking it should continue in the direction of previous trend which was DOWN ) .. Even if i was wrong still would make little affect on my strategy plan .. ( except that SBC would revert instead )

I have posted the two charts in real time for you guys to look at the risk of applying such a strategy ... This was a simple risk controlled trade than trying to predict the market direction .. JESUS GUYS NO ONE CAN PREDICT THE MARKET DIRECTION ... ( God is excluded)


Also can you watch VRTS trade? DOW down 30 points MSFT in negative but VRTS going strong .. VRTS was a friday,s swing trade and tomorrow is its last day ...
 

Grey1

Senior member
2,188 185
First EK reverted back to its VWAP and then SBC.. The chart below speak for itself.. Those of you who have been watching the trade in real time can now see the logic behind taking a Risk controlled trade such as above..
 

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