smallest spread

Mr. Charts

Legendary member
7,370 1,194
Hi FTSE-B,
Thank you for your kind words.
Why trade the US? Let me give you some examples from today.
This is an extract from an email I sent a few minutes ago to someone considering my coaching:

"I've attached two trades I've done today. I also shorted BGEN and got stopped out for a loss of $125. As you can see they were all finished before the first hour of trading was done. If you decide to go ahead with the coaching, I would show you how to find trades like that and why they usually work reliably.
I'm done for now but might look at the market again later.
Profits ELAB $1005, profits SYMC $235, losses BGEN $125, so net profits $1115 banked. That'll do me fine, especially on a trading day like this one."

I normally trade 1000 shares with tight stops.

I think that illustrates why I trade the US.
I will now send four .gifs showing the charts I made at the moments of entries and exits on the two winning trades.
 

Mr. Charts

Legendary member
7,370 1,194
SYMC short entry
 

Attachments

  • symcshortentry.gif
    symcshortentry.gif
    19.4 KB · Views: 460

Mr. Charts

Legendary member
7,370 1,194
ELAB closed long position

I hope these .gifs vividly illustrate why I trade the US the way I do.

Best wishes,
R
 

Attachments

  • elabclosedlong.gif
    elabclosedlong.gif
    17.8 KB · Views: 452

Trader333

Moderator
8,655 981
Q for Mr Charts

Hi Mr Charts,

Would you be willing to say at what price you entered each of these trades and what price the stop was for each as well. Also would you include the Biogen enrty and exit ? I assume that for Biogen you had a stop of around 12c ? Also do you use Level II ?

Thanks


Paul
 

Mr. Charts

Legendary member
7,370 1,194
Sure.
ELAB average long fill price 23.50
" " close " 24.52
+$1020 minus $15 commission

SYMC short 40.66 also average fill prices
SYMC covered 40.41
+$250 minus $15

BGEN short 32.27
BGEN covered 32.38
-$110 minus $15
I didn't save the screen dump charts for BGEN but if it's of any help the short was at 14.42.52 and the cover at 14.48.29 so you can check that out on a chart for yourself.


My stops depend on more than one factor and are covered in my coaching. I'm not telling you all my secrets ;-)

I used level 2 on the SYMC trade only, also time and sales.
BGEN was mainly on time and sales.
ELAB was pure momentum based on news; techniques again only available to my trainees ;-)
Hope this all helps.
FWIW I started my pre-market preparation at 1.30 GMT and was finished by 3.30 GMT, though I'll keep checking for any emerging late trend from around 7pm onwards.
 

Naz

Experienced member
1,391 24
Thanks to Mr Charts for showing what Nasdaq traders do all the time.Some who have been on my course have written on this board about gap plays.ie$1200 in 20 mins.

For me you have to be a good level 2 direct access player to do this.But the profits are there to be had.Its just a case of learning.

Who needs to trade the evening when you can do the type of trades shown above.
 
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