Reat Time Trading Results ( Us Stocks )

We lost in two pair trades both hitting our stop of 15C.. It was a rather strange day as none of us got any VWAP signals for pair trading and I had to hedge new low and high of the day against one of the postions .. This is some thing I donot do ..

I had to leave the room at 6 but the rest of the members stayed fora little chat..

Not a happy day for any of us but this is trading for you ,,


regards
 
I made up for this afternoons losses by pair trading RMBS (Short) with ERES (Long) this evening for + 50 which means that I am up on the day albeit not by much.

I will post the charts if others wish me to. The biggest issue today has been finding good quality pairs which gave good low risk entries on the Level II screen. Anyway I found the above at around 19.05 and then it was just optimising entry using Level II. My biggest concern was that RMBS was trading 10c below a massive order on the ask so I couldnt just take the trade. I set up ERES to trade at market if RMBS went up 10c which it duly did and I was in. I also set the ratio of the trade at 1.2 to 1 in favour of RMBS. I set my stop to 15c and it came close (11c), but then reversed and whipsawed around the 25c profit mark for a while before making slightly more than my 45c target and then I closed the trade.

I dont know if others were also trading this evening but I just wanted to finish Friday the 13th on a positive note which I did.



Paul
 
That's excellent , given that it was a very difficult day to trade.

Well done Paul for the positive way you've finished the day.

As I don't yet have access to more than one chart at a time and am limited to ten stocks to monitor, I would appreciate Paul if you could post the charts.

Thank you!
 
BCT,

Yes no problem. As I have previously said I always place the Short trade first. Normally I would wait for a clear alert but as we had problems finding any what I did was to look for those stocks that were a Long way away from their VWAP and RMBS along with ERES were two that met this criteria. I closed this trade as soon as my profit target was achieved and this is something that I have changed in the last few days as a result of working with Grey1.


Paul
 

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well done Paul, After I came back from my night out I saw few signals from the VWAP scanner on my computer.. a little bit late though .. I never saw that many stock with such a wide spread as yesterday.. No sure even MM's knew how play the game yesterday ...

I will be in the room on Wednesday and not the Tuesday as planned.. Sorry again guys.

I am looking forward to Wednesday but mean while please post all your trades using the strategies That I have outlined on this BB..

All trades Good bad Ugly .. ###


regards
 
Well done Paul. Nice to finish in the +

It is good that you posted how & why you entered the trade. We can all learn from this.

I have to say that I too am altering my strategy after spending the last few days working together with Grey. The confidence level when we are all working together in the room is second to none.

I have learn't so much in the last few days. Some of it a bit difficult to grasp at first, but I am working through it.

I think also that it shows that we must be patient in our trading, and not just take a trade, because we haven't done in the last hour. Friday was a typical example of this (IMHO)

IanH
 
Grey,
Is it possible that the room can be open on Tuesday for the rest of us, even though you cannot be there.

It would be really good for us to share our views as we trade throughout the day

IanH
 
Does someone need to be administrator?

To keep the nuisances out. Perhaps Paul could do this?
 
Yes I will arrange with paul Tobe the admin .. We need to have more than one admin any way ..

I have just PMed Paul on how to open the room ..
Listen guys,keep this room going and have a small community of professional traders.. I have nothing to hide and if I lose a trade I will hold my hands up as simple as that .. I am no Guru but the bottom line is that We wont be a loser by the end of the week or year.. Since we do not want to ripp each other off then the only way has to be UPPPPPPPPPPPPPPPPPPPPPP


regards
 
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IanH,

I have set a room up myself called T333 and a few of us were in it on Tuesday this week. I did post the details on here and it is password protected to enter which is trade2win. We could use that as an alternative ?


Paul
 
Welldone Paul.

an unfortunate trading day but an initial short call by Grey 1 on Psft had run into profit.
not sure if it was my question at that time that may have put doubt regarding why to short it at the level Grey suggested but non the less it was almost spot on at 22.12
am still a little confused as to why it was a short as Psft was in my opinion in a small uptrend and had some way to go to its upper band whilst the pair trade with Dish was trading at its lower wapp and continued its lower wapp for some time (could only follow this pair as it was only in my restrictions of 40 symbols), although this pair trade was not executed i was wondering if some one would give there opinion, is it 52 week high / low ? have tried to post an image but not sure how to do this. not shure may have attached it as a Bitmap
 

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Well done Paul,
Can I just ask, what was it that determined your target on rmbs?
It hadnt hit the vwap as I understand it ,but it did later on. Was it that you aimed for a reasonable ammount considering it was coming off the High band and it was reasonable to expect it to at least get this far with the time remaining, considering it was a holiday weekend for the yanks ?

Richard
 
John,

Due to market fall none of us had any short candidate.. So what I did I picked PSFT as it was the highest beta stock at the time but unfortunatley the distance from the VWAP was not enough to justify the trade .. ( remember we lhad lost 17 C from our first pair trade and I needed to have a new pair trades that one of the legs would cover my 17 C loss while the other would get me into the profit ) .. At the time we only had 10C from the VWAP from PSFT and the limit order of 22.12 would have given me that 17C ( from the VWAP ) that I needed to get my loss back ..

If I had sticked to my call , I would have come out a winner but for some reason I chose IVGN .. Not sure why though .. I think the frustration of not getting any signal was the reason ..
 
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I have found that sometimes the best position to take is "No Position" but none of us like to finish the day with a loss, so I can see the reasoning behind taking the trade

Paul, let us know which room we will be using for Tuesday?
 
What a great week !!!

I have learnt more in the last week than I thought possible,

I am sorry to be away for the next couple of weeks. I will try
and look in if I get a chance..(never thought I would look
forward to coming back from holiday)

I must say a special thanks to Iraj for taking the time and trouble
to share his trading methods, It is heartwarming in this day and age to see a genuine trader helping others for free.


And well done to Paul for getting out on top..

See you all in a couple of weeks....

Cheers
Ian
 
Netwron bomb,

I wont be in , on Tuesday, how ever if you PM Trader333 ( nick name is PAULM) while you are online he can send you an invite and you can join the chatroom.


See you there
 
Grey 1

ahh now i understand sometimes i think i have mental block so Psft was the only short able pair trade due to a high beta at the time because of no signals on other stocks from the higher wapp bands.
jezz, i swear them guy`s in white coat`s are after me.
the rule would only be to pair trade because of the position of the Dow and not to directional trade one position,
thanks for feed back on this it had me puzzled
hope you and R have a nice enjoyable weekend and look forward to Wednesday

John,
 
Correct John,

None of us had any short candidates at the time as your chart shows even PSFT was not at its upper vwap levels..

We donot do any directional trade what so ever when market is oscillating ..

regards
 
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