October US Equity Trading

[Mr. Charts]

Naz,
I'm looking forward to it hugely - we all continue to learn throughout our lives. When you stop learning, it's time to climb into the final box.
One thing struck me about your last comment, "I thank all the books,cd's and US training courses that say dont do this and dont do that,because for me thats where the answers lay."
I know exactly what you mean, but there is another layer to it, which is that so much in the way of myths and falsehoods get promulgated in books, websites etc., that new traders who have little experience accept the material unquestioningly.
Well, you and I can pass on some of our actual experience to those who come to the joint session and in our 1-2-1s and enable people to become much, much better traders.
Yes, I can see some people reading the above words and saying, "blatant advertising" and much worse, but I have a choice to say what I want as well.
I'm actually trying to express my enthusiasm in muted terms, but hey, am I looking forward to Nov 15th and showing all those doubters and self-appointed arbiters of what is right or wrong for other people, what you and I are made of ;-)
Richard

 

[Mr. Charts]

Tim,
You asked for a chart without the type of entry mentioned, so here is the entry point of a quick 1000 share trade I took y'day.
So, long or short?
If you want to "talk" about it off board
[email protected]
Richard

 

[timsk]

Richard,
The answer is definitely, unquestionably, without a shadow of doubt . . . LONG!
(I expect I've just made a big *** of myself! Hey-ho.)
I'll e-mail you with my reasons why.
Cheers,
Tim.

 

[Felix]

Chartitis

Naz

I fear that you have become infected with Chartitis the reasons being as follows:

1. Your abandonment of level 2 in favour of chart based trading

2. Your newly appointed name of “Naz the Chartist”

3. Your new reluctance to post charts of trades you have taken and even a refusal to say which stocks you trade.

Let us compare the Naz of old to the New Naz
From the Naz of old I have read your posts on the Nasdaq/Level2 thread as well as many other threads where you posted chart set ups and even described in detail what was happening on the level screen 2 screen and how you used fibonacci to provide set ups. You always showed which stocks you were trading and the profits made including how the Ax was causing the stock to move.

From Naz the Chartist all we get is a statement of how much profit you have made ie around $3K one day and $4K the next with no other information other than you have found a new chart based set up and we are not even told which stocks gave the profit. Let’s face it what use is that to anyone?

Also concerns must be coming from your former students who have had 1-2-1 sessions with you for Level 2 training. Are we now to believe that they have wasted their time and how are they all to get this new chart set up? Will they all have to book themselves in for 1-2-1 sessions again and be re educated on the merits of chart based trading to that over Level 2?

After all you have frequently posted saying that by the time a chart shows something it is often too late and that all of what you see on a chart is seen first on the level 2 screen.

I had always viewed you as the most prolific promoter of level 2 trading and your conversion to “Chartism” is of the same biblical consequence for the level 2 trading community as the conversion of St Paul on the road to Damascus was to the aims of the Roman Empire.

It is suggested that you take medication in the form of immersing yourself in Level2 for the next 3 trading days. Failure to do so may result in you developing the far more serious condition of “Chartism Syndrome” for which I am afraid there is no known cure.

Get Well Soon Naz because the Level 2 community need you back as the pioneering leader for Nasdaq Level2 in the UK.



Felix

 

[coffee]

Richard? Did u trade CVTX on Friday?

 

[Mr. Charts]

Coffee, you're the man ;-)
Check your mail.
Richard

 

[Mr. Charts]

Tim,
A beautiful analysis, sir!
In your mail
Enjoy the w/e
Richard

 

[temporarilylight]

Interesting post felix. You always raise a bit of controversy but its good reading . Sometimes i think you say what alot of the members are thinking but won't say. Naz, you da man....but i can't help but feel a tinge of 'i told you so' concerning your conversion to the 'chartist's' way of trading. Trade2win rules. I been here for years but it's still my first port of call every trading day, even though i don't post mch at the moment.
I'm sure the seminar will be brilliant. Mr.Charts and Naz know their stuff...I can tell from their posts.....'cos i know my stuff aswell
Trade well

Temp

 

[Naz]

I enjoyed the post Felix.

Nasdaq trading can be anything anyone wants it to be.EOD,charts,level2.The main reason is that its so volatile it creates opportunities all the time.More i believe than most other markets.

I have two hats to wear,a trader and a trainer.

As a trader i'm a level 2 direct access scalper that could say to some, look my trading platform and weep,because you will never have the speed and flexibility in working your orders like i can.Some will look at stocks with wide spreads and think i cant trade that.I will look at it and see an opportunity.Some might look at the open an think its to fast.I look at it and think wow! what fantastic momentum in which to jump on this trade and go for a quick ride, completely confident in taking my orders and getting my fills in the blink of an eye.No re quotes here.

As a trainer i'm always looking at how i can help others.Thats where the charts come in.Its to show that the Nasdaq can equally be traded very well by just by chart reading.My latest strategy is chart based.Its was designed to help people who want to trade the Nasdaq at a much gentler pace.This is what i've been demonstrating live last week.

I started a thread a while back called t/a and level 2.I believe that if a trader can put both these things together on the Nasdaq then they really have something.

 

[ChartMan]

Naz the Chartist sees the light at last. Hallelujah.
Welcome to the club :cheesy:

 

[Grey1]

just was training a close friend of mine and showed her How to make 100 % win every day.. Made £1250 in 12 minutes..
TSIM uses real time data from IB to trade and not some fabricated data ( I am sure those who know this software know what I mean )..

SO Have I found a great strategy to brag about .. NOT REALLY ..

THIS IS ONLY PAPER TRADING AND MEANS NOTHING WHAT SO EVER.. NOTING WHAT SO EVER..

 

[Grey1]

Traded Klac ( + 17C ), QQQ ( +18 ) , CSCO ( 21) .. No losses ..

Not a lot of money but Very low risk trades was only traded..

Dow was hopeless after the initial rally .. Still into heavy consolidation with +, - 12 points..

KLAC VWAP is currently @ 58.75, price currently @ 59.40 ( range high _ low = 57.60 - 59.50 = $1.90 )

So I would short KLAC @ around 59.70 if it gets there later on ... If not, I have to wait for another signal ..

 

[Trader333]

Grey1,

Yes, excellent as usual. Would you be willing to say at what time
you traded KLAC and CSCO and what entry prices were and
whether Long or Short ?




Paul

 

[Grey1]

Paul,

All trades were Long , because DOW looked very bullish at the time.. The time of trade was around 6.30..

This was the strategy :--

Very simple ..

Klac becomes weak Bar 4
Klac showes further sign of weakness Bar 5
Klac Collapses ( remember this is only a 1 min chart and by collapse I mean a relative weakness..) bar 6

Now this is what made me to take the trade...
I have L2 screen in front of me ...

ARCHIP and another MM (can't rememebr who it was ) have been bidding 31 C away from the inside bid .. Well this would result in two scenario

1) both disapear
2) Both raise their Bid if they are genuine buyers

ARCHIP raised its bid by 10C .. that was good enough ... I knew bar 7 would form the way it did ...

Then Bar 8 and 9 was formed the way it did and made me worry (LOL)... couple of other bidders appeared from no where ( LOL) .. Not far from my entry though ...

And then the rally put smile on my face


Why did I take the trade to start with :--

Have a look at your chart now,, This is the second pull back from the high of the day .. This is one of those rules of day trading no day trader should ignore..
Always take the second pull back from HIGH OF THE DAY...

PS:-- I often can't catch the exact exit.. This time I got it right .. I have always been a bad exit guy .. Simply can't improve on this...
I would not be able to make another extra 1C on that ...

 

[Trader333]

Grey1,

Thanks for that although I do have another question. At the time
you went Long the price was around 50 cents above its own
VWAP. I thought that it was be unwise to go long on a stock
above its VWAP ? What are your views on this ?


Paul

 

[Grey1]

Paul,

The trade was not taken by VWAP strategy .. It was taken by second pull back from the high of the day .... The VWAP trade would have been as I explaind a short trade from 59.70 which it did not get there.....


If I donot get a VWAP signal or a pair trade then I would manually look for other high probable low risk entries..
I feel all traders MUST know and learn few of these PROVEN and Low risk entries to help them trade profitably



I often only get one or two signal a day and hence spread trade stocks with few C spread to keep me busy...



Would I go long KLAC if it had not satisfy the above rule ( second pull back rule ) NO WAY .....

 

[cephy1]

I went to NAZ for a 1-2-1 yesterday on Nasdaq trading (not level2).

He's very friendly and interested in helping you as much as you want.

The whole day was very informative, with little snippets coming out from time to time that were very helpful for a not too experienced trader.

He obviously knows his stuff inside out and has had the experience of trading in the city to back it up.

Level 2 is in his blood and after some explanation and seeing him working it in real time, I saw how it revealed what the charts couldn't.

Naz compiled a list of potential plays and ranked them as hot or not from the info available to all (NOT using level 2). He liked the look of one in particular but we had a list of about 8.

Three triggered to open and we played them through as if real money was at stake (he didn't use level 2 in his decision process, to show that it can be traded on chart)s. Two produced about 20 - 30 points within the hour and the one he had liked the most (which was shorted) had gained 250 points and was still going south when I left at 5pm!

This afternoon I chose my stocks and paper traded. I selected about 11 and within 10 mins of the open had crossed 6 off the list. Two triggered and both stayed in play for about 2 hours. One meandered in a very tight range and I exited at breakeven, and the other gave me 30 points. I felt much less stress sticking to the discipline Naz impressed on me than I would have before. I felt in control of the trades, even when they did temporary pullbacks.

Thanks for the help and coffee Naz!

 

[Mr. Charts]

FHRX bought 10.15

 

[Mr. Charts]

closed FHRX 10.52
for +37 for a nice sub- two minute quickie

 

[neil]

Tsk, Tsk

A two minute quickie !!

This is a family board Mr C.