Trading NASDAQ stocks with Jerry Olson & Ian Hodgson

[eurotrader52]

entry based on technical analysis criteria, nothing FUNDAMENTAL about that!

it has little to do with intraday scalping...

we do not use FA for anything that's nothing but noise

we trade only the charts they do not lie...

Were your scalps based on technical analysis? if they were, please elucidate the TECHNICAL analysis that inspired the trade and not just the gains.

 

[Trader333]

Tuesday was an excellent day and has been pretty much summed up by Samtron and EK1. Iraj and his lady were wonderful hosts and couldnt have been better in their generosity to us and at their own cost for which I will always be grateful.

In Summary:

1) The stategy used is always profitable (I know people will doubt this but just ask others who have been and they will confirm this)

2) Contrary to what others have said the Market can be bullied if you know how (not every market but some definitely can)

3) Position sizing relative to volatility is of critical importance for long term trading profitability

4) All trades were executed in front of us in realtime.

5) The strategy used clearly demonstrated that market direction is of little importance

6) Level II is simply not needed to ensure profitable trading using this approach

I will end by saying that the strategy is pretty advanced in TA terms compared to other approaches that I have seen used.


Paul

 

[eurotrader52]

SNDK second short below 54.50 (see chart)

SNDK has been an almost perfect short any rally stock (today's 10:00 high and reversal) of course if you were nimble it was also possible to get a good gain on the morning chart by 9:35. Either way there was at least 3 bars (15 minutes) of potential trade. I'm looking for the short side on SNDK because the chart is predominantly in a DOWNTREND where rallies have made for good shorts.

 

[eurotrader52]

EBAY and GOOG short set ups here (see intraday chart below)

see intraday chart below

SNDK has been an almost perfect short any rally stock (today's 10:00 high and reversal) of course if you were nimble it was also possible to get a good gain on the morning chart by 9:35. Either way there was at least 3 bars (15 minutes) of potential trade. I'm looking for the short side on SNDK because the chart is predominantly in a DOWNTREND where rallies have made for good shorts.

 

[eurotrader52]

EBAY, SNDK, GOOG, reversals of periodic bounces on short term time frames

Market continues to be a good short the bounce especially in tech sector. Bounces are not lasting long. Some scalpers/daytrades are too quick to call for massive selloffs as well as "we've bottomed from here!" statements, while this market is solidly in a downtrend and the bigger picture hasn't changed as yet. Long players are only too happy to close out their morning bounces and take profits and then put on new shorts. New intraday highs are very good SHORTING opportunity for more than just a few cents scalp.

 

[eurotrader52]

KDUFM (165 calls in SHLD) up from 2.20 to high of 4.60 trade is over though!

I like SHLD for the move to 168-170 by options expiration (see technicals in charts below) You might see gains for more than a mere scalp here. I am also watching FAL (canadian metal company) on the long side, with further SHORT an upside rally for the SOX. Very important to trade with precision in THE DIRECTION of the prevailing trend (which might be established by 10:00 or after 3 bars on the 10 minute chart) and not trade against a STRONG trend.

Hope someone got into SHLD this morning. SHLD is not a short the rally but a "buy the dip" stock.

 

[eurotrader52]

GOOG 380 puts in play as GOOG dropped below 390 (see chart from last night)

If you plan a day trade in GOOG I would buy long only after 3 completed bars of higher highs on the 5 minute chart. You might buy the OPTIONS since they trade as easily as the stock due to very high intraday volume. GOOG options will give you huge gains with minimum outlay of cash. If you are a more rational and careful trader you might trade ONLY after the morning gap 'n move up FIZZLES by probably 10:00 and SHORT the resulting rally. If there is a GENUINE RALLY TOMORROW, you will still have ample opportunity to make a gain in GOOG on the long side. If this is just a BEAR TRAP (which I think it will likely be) you will have an EVEN longer term SHORT. NEVER SWIM AGAINST THE PREVAILING trend especially if the downside (or upside) continues through more than one period. I would NOT TRADE the doldrums as this is when YOU CAN GET IN EASILY ENOUGH, but try getting out with a profit!

380 puts

 

[eurotrader52]

SNDK anatomy of technicals intraday

Sndk Short

 

[eurotrader52]

Technicals for continuing SHORTS in play!! Look here at BMC

BMC is a high risk/ high reward set up with earnings out tonight, BMC has 'overreached' and already moved up 5% in front of its report. This play will remind trader of JOYG another gapper and crapper after its previous earnings report. If you don't want to risk holding the 22.50 BMC puts tonight then watch BMC tonight and early tomorrow morning for some good FAST ACTION.

 

[eurotrader52]

building sector (PHM representative short added HOV) huge short the rally plays

:cheesy: Restate finally upside in the SLB puts bought to hedge a long play in SLB which had been stopped out late last week. Reiterating the SLB puts for a new target of 60.

 

[Grey1]

Mucha gracias Mr Market Muahhhhhh

Tuesday was an excellent day and has been pretty much summed up by Samtron and EK1. Iraj and his lady were wonderful hosts and couldnt have been better in their generosity to us and at their own cost for which I will always be grateful.

In Summary:

1) The stategy used is always profitable (I know people will doubt this but just ask others who have been and they will confirm this)

2) Contrary to what others have said the Market can be bullied if you know how (not every market but some definitely can)

3) Position sizing relative to volatility is of critical importance for long term trading profitability

4) All trades were executed in front of us in realtime.

5) The strategy used clearly demonstrated that market direction is of little importance

6) Level II is simply not needed to ensure profitable trading using this approach

I will end by saying that the strategy is pretty advanced in TA terms compared to other approaches that I have seen used.


Paul

Awsome day paul . Thanks for coming..

What a great day is today with mediteranian look like weather..... who wants to trade ? ((((((( I DO )))) lol

I spent most of the day in the garden chilling and just took one pair trade signal in the after noon from SNDK hedged against VLO later in the afternoon with $700.06 profit in no time .

Muchas gracias Mr market.

Grey1 will be coaching 4 more people on 20th June which by that time we have raised £1400 for charity ( christian Aid ) .

 

[eurotrader52]

Covering SNDK, EBAY short before close. Holding some GOOG puts (only 10)

Tomorrow is another day. I find I can get the best gains by waiting until the markets have adjusted morning buy/sell orders that accumulate before the open. By 10:00 you get a truer indication of the prevailing trend. I know you can trade irrespective of market direction but I need the market direction with the nq's, trin in order to make the longest term intraday gains (i.e. holding day trades for more than 30 seconds to 2 minutes) HAVE a GREAT EVENING folks! Thanks to Grey1 for the inspiration to try different trading techniques, maybe someday I'll drag out these old bones and make a change.

 

[Grey1]

Tomorrow is another day. I find I can get the best gains by waiting until the markets have adjusted morning buy/sell orders that accumulate before the open. By 10:00 you get a truer indication of the prevailing trend. I know you can trade irrespective of market direction but I need the market direction with the nq's, trin in order to make the longest term intraday gains (i.e. holding day trades for more than 30 seconds to 2 minutes) HAVE a GREAT EVENING folks! Thanks to Grey1 for the inspiration to try different trading techniques, maybe someday I'll drag out these old bones and make a change.

euro my man

you are a trader of high quality . your AAPL call was awesome so was the short SNDK . This is a shorting market and without a doubt we still have not seen the bottom , there again why are we looking for bottom lol I certainly am not .. what does bottom mean ? can bottom be measured ? what is the point of bottom fishing ?

That all said ,, guys becareful shorting SNDK from here on wards. Let it rally . Lets bottom fishers throw their cash at LONG SNDK . we take their money in shorting the stock early next week ..

Grey1

 

[Grey1]

when I saw my platform today , DOW was trading in positive. I thought market will collapse as i saw a blood bath with screen shot full of shorting signal.

Not long time after DOW fell 10 points and shortly after to close 76 points down .

 

[moreagr]

Grey1,

this coaching that you provide to new traders in that personal one to one mentoring? or is this over the internet?? in a group?

also another question if you dont mind.. have you applied this strategy to wealthlab like you have done to tradestation ?? I have wealth lab but not TS.

good to have you back!!

 

[eurotrader52]

NSM for EXTREME trading on Thursday

see chart below

Looking for a buy above 25 or after 3 consecutive bars of higher highs on the 3 or 5 minute chart. This is solely a "momentum driven" trade due to increased volatility as a result of earnings anticipation. Expecting EXTREME fmoves through the last reversal periods (3:00 - 3:30 and 3:30 into the close) HEDGE PLAY: A "straddle" into the close and add the 22.50 puts NSMRX which are trading now at about $.35.

What can be said about this pathetic chart? Any negative news after the earnings report might be factored in the price as it is. With hint of a better quarter, NSM could be up at least 5% or as much as 8% if the earnings are okay. Remember traders just as the building sector has seen some EXTREME downside, there are always days of 'dead cat bounces'. Still mighty bearish on the techs but check the moves of NVLS in the morning and there is at least a 5% gain there already.

 

[Grey1]

Grey1,

this coaching that you provide to new traders in that personal one to one mentoring? or is this over the internet?? in a group?

also another question if you dont mind.. have you applied this strategy to wealthlab like you have done to tradestation ?? I have wealth lab but not TS.

good to have you back!!

The coaching purpose was just to raise few $$ for charity . They take place in my own house.
I am afraid i have not applied that strategy towealth lab.

strategies are best to be explained in real time and LIVE. There are guys who offer mentoring over the phone . That is because they are dead scared of live demonstration .

Grey1

 

[eurotrader52]

BIDU - Don't let this get away (another SHLD)

Looking to capture the reversal back to the upside for BIDU. Wide Range Bars are also the case for BIDU. After a massive gap 'n snap, BIDU is a "SHLD-clone" looking for any intraday market bounce. I would like to buy BIDU above 88 or if the BIDU continues to pull back then at the 85 area or after 3 bars of consecutive higher highs on the 5 minute chart. On any market rally consider also the 95 calls for June trading now at a discount of 1.70 BDQFS.

HEDGE PLAY: the 85.00 BDQRQ.X June puts for BIDU if the market internals (NQ's, Trin, etc) continue the pullback @ 10:00

 

[eurotrader52]

The coaching purpose was just to raise few $$ for charity . They take place in my own house.
I am afraid i have not applied that strategy towealth lab.

strategies are best to be explained in real time and LIVE. There are guys who offer mentoring over the phone . That is because they are dead scared of live demonstration .

Grey1

Teaching someone to trade is a really big deal and most of us can not lay claim to the credentials and expertise for such an enormous undertaking.

 

[kako]

Hi

Euro, could u pls give an explanation of why 2:30-3:30 is most important time of day? u wrote this on 1 of recent Images, and i have no clue why.

thnx in advance
......................................................
Kako