Trading NASDAQ stocks with Jerry Olson & Ian Hodgson

[JillyB]

Hi Jerry

Just found your thread. Looking forward to what you have to say and learning from it.

I generally scalp or swing trade on the Dow - but I'm always open to new ideas, markets and information.

Trading is not the easiest job in the world - if it was, everyone would be doing it - and I believe IMHO that it's important to always be open to new ideas, strategies, etc. As you've said previously, there is no Holy Grail out there, and no-one can ever be 100% certain of what the markets are going to do, until after they've done it! So, its best to be armed with as much information and knowledge as you can get.

I'm listening avidly for what you have to say.

 

[Jerry Olson]

Hi Jerry,

good to see you got your own thread going. It's been a little quiet on the US Daytraders thread. We need some new people joining in on the boards.

Trade safe and good luck to ya.

-Dave.

Hey Dave good to see you here, hope all is well..

Chop is the key word my young friend...

but i like the markets higher at any lows tomorrow all the way thru early May...

we are just scalping away each day...

have a good one

 

[Jerry Olson]

Hi Jerry

Just found your thread. Looking forward to what you have to say and learning from it.

I generally scalp or swing trade on the Dow - but I'm always open to new ideas, markets and information.

Trading is not the easiest job in the world - if it was, everyone would be doing it - and I believe IMHO that it's important to always be open to new ideas, strategies, etc. As you've said previously, there is no Holy Grail out there, and no-one can ever be 100% certain of what the markets are going to do, until after they've done it! So, its best to be armed with as much information and knowledge as you can get.

I'm listening avidly for what you have to say.

Hi JillyB

welcome to this small corner of the wrold.....................

All i can say is we are here like everyone else trying to make a livng at our craft. Anything i can do to help anyone i'm happier for it.


Let's make some money.................................. :cheesy:

 

[samtron]

By the way. The market is pretty choppy lately. There was HUGE crossing volume in the S&P pit at the end of last month during expiration. The next day was all about buyers. We had a good move up and since the last fed meeting I've only heard SIZE sellers. All the banks have been selling bigtime. And we had big sell stops running off this morning. And I think that if we go lower there are a lot more sell stops to be hit.

VOLATILITY RULEZZZ.

-Dave.

hey dave great to see ya

the other thread seams to hit a brickwall? I'm sure (and hope) it will take off again, but in the meantime its great to see this new thread-
trading the naz without takeing much notice of L2 ?
go jerry go!

 

[Jerry Olson]

hey dave great to see ya

the other thread seams to hit a brickwall? I'm sure (and hope) it will take off again, but in the meantime its great to see this new thread-
trading the naz without takeing much notice of L2 ?
go jerry go!

Hi Samtron...

we are messing around with a robot of my day trades..

this one shows i made net $740 for the day...

we are scalping here...

http://jogtrader.com/trades/dailytrades.php

 

[Jerry Olson]

Hi Ian

nice chart. I think AAPL sees 73-75 next week ahead of eps date...what a fabulous intraday scalper type stock.

Just a headsup to all of us about interest rates. I wrote a little something to the troops this am, and wanted to pass it along. i'll do charts later when time permits.
=========================================================================

Good Morning everyone

The markets are taking a breather this week as expected. My downside potential near term targets on the S&P Futures chart is around 1295 right at excellent Point & Figure Support. On the NQ M6 chart around 1700 or the 50 day would be ok there as well. We needed this pullback ahead of full blown earnings season starting really next week on the 17th, and since we are not open this Friday for trading a lot of folks are out of the markets till next week. I was thinking and have been writing about interest rates. They are at 4 year highs. While we see that bonds are at the bottom of the charts deeply oversold and are due for a bounce. There are rising wedge set ups on the 10 & 30 yield rate charts with the FOMC coming up on the 9th of May my guess is that we'll see a sharp pullback in yields and a rally in the bonds. You can use the TLT(iShares Lehman 20+ Year Tres. Bond Fund (TLT)
to play this potential next best move. Next week we have a slew of very important economic numbers that the FED will be watching keenly ahead of their meeting to try and see if this is a good enough time to raise one more time to 5.00% and pause. IN fact folks that's exactly what I think is going to happen. I truly feel that could give the markets a big boost higher if they finally rest. In my opinion their work is finished for the foreseeable future as of this next meeting. While this week will be dull and listless you can bet the farm next week, options expiration week will be wild and volatile as the big boy tech stocks begin to bring home the bacon. I am always getting excited about the gyrations intraday and post market during this time frame. Stay focused and rest up this week.

Hi All

today was like going to the dentist without a toothache???

man is was slow, but we did manage to eek out a profitable day

we are going to have each days trading results posted on the jogtrader web site soon...

we are working on this to show real and actual results.. there is a time stamp on the text area to show you actula time of trades and exits too..

hang tough...

ps: we are having an open house in my room on Sunday 7.00 pm UK time 2.00 pm US time all are invited

 

[ianh]

Quick Scalps was the only way to go today! Just look at the action (or lack of) in the ES

 

[Jerry Olson]

Quick Scalps was the only way to go today! Just look at the action (or lack of) in the ES

Ian it was ridiculous today but we all came out ok...

did you see Trendhack???? 31 trades and a net of $500.00

just taking 7-12 cents per trade...no greed and no fear...

nicely done...

 

[Jerry Olson]

ALERT EVERYONE

SNDK added to the S&P 500 index up 5 points and going a lot higher..

then the really big news is LRCX not only did they beat...but they guided waaaaaaay up like in much higher both eps and revs

my new upside target is 52 to 55.00 very soon for LRCX

the semis could really rock tomorrow

rest up and be ready you hear????????????.............................. :cheesy:

 

[Grey1]

Jerry my man ,

Just saw your P/L table and thought it was very decent of you to report all P/L. Nice one Keep up the good work

How ever I also noticed that you Trade 1000 shares irrespective of

1) stock's Volatility ( one should not buy same amount of different stocks irrespective of their volatility .. ( Example if you just traded 1000 STOCK X with ATR of 20C you should then be trading less of STOCK Y with HIGHER ATR )

2) Equity curve fluctuations ( number of shares should be reduced after a loss and added after a win )

These rules are foundation of Risk management / Capital managment before the trade is initiated. Once the trade initiated ( Trade managment ) that is another story ( trailing , dynamic dumping of position based on change of ATR , ,,,, )


Program Traders use both above concepts specially @ open



Grey

 

[Jerry Olson]

Jerry my man ,

Just saw your P/L table and thought it was very decent of you to report all P/L. Nice one Keep up the good work

How ever I also noticed that you Trade 1000 shares irrespective of

1) stock's Volatility ( one should not buy same amount of different stocks irrespective of their volatility .. ( Example if you just traded 1000 STOCK X with ATR of 20C you should then be trading less of STOCK Y with HIGHER ATR )

2) Equity curve fluctuations ( number of shares should be reduced after a loss and added after a win )

These rules are foundation of Risk management / Capital managment before the trade is initiated. Once the trade initiated ( Trade managment ) that is another story ( trailing , dynamic dumping of position based on change of ATR , ,,,, )


Program Traders use both above concepts specially @ open



Grey

Morning Grey

Each trader has their own version of what is best for them. That illustration was used as an example of what a person can expect trading the markets with me using all my real time calls in the room.

We chose 1000 share lot sizes for reporting purposes. Many traders do in fact fluctuate their share size depending on the stocks price and volatility.

But for all intents and purposes this basic set up can at least show traders what the expected outcome "could" be trading my calls, or for that matter the "rooms" calls.

We are going to try not only to publish the actual real time trades each day, but a full transcript of the whole day in the room for people to read and observe the action. Of course a lot of the banter is on the Mic with me yakking away all day, and some others speaking as well.

The other thing is there's a time stamp in the text window that traders can "check" time and sales to verify the entries and exits.

We are straight shooters posting all trades real time with entires and exits in voice first and then text abit later.

We were 9 for 10 winners for the day Thursday just doing quite well in a surprisingly solid trading day once we identified the right stocks to trade.

The trend in the futures was sideways to nowhere, but selected stocks moved good enough for our scalp trades.

Grey when ever time permits please feel free to drop by. We are having a Sunday Meeting at 7.00 pm UK time 2.00 pm US time on the 16th

Have a nice holiday weekend

 

[Grey1]

Morning Grey

Each trader has their own version of what is best for them. That illustration was used as an example of what a person can expect trading the markets with me using all my real time calls in the room.

We chose 1000 share lot sizes for reporting purposes. Many traders do in fact fluctuate their share size depending on the stocks price and volatility.

But for all intents and purposes this basic set up can at least show traders what the expected outcome "could" be trading my calls, or for that matter the "rooms" calls.

We are going to try not only to publish the actual real time trades each day, but a full transcript of the whole day in the room for people to read and observe the action. Of course a lot of the banter is on the Mic with me yakking away all day, and some others speaking as well.

The other thing is there's a time stamp in the text window that traders can "check" time and sales to verify the entries and exits.

We are straight shooters posting all trades real time with entires and exits in voice first and then text abit later.

We were 9 for 10 winners for the day Thursday just doing quite well in a surprisingly solid trading day once we identified the right stocks to trade.

The trend in the futures was sideways to nowhere, but selected stocks moved good enough for our scalp trades.

Grey when ever time permits please feel free to drop by. We are having a Sunday Meeting at 7.00 pm UK time 2.00 pm US time on the 16th

Have a nice holiday weekend

Jerry

I try to be there on sunday and in weekdays .

Grey1

 

[Jerry Olson]

Jerry

I try to be there on sunday and in weekdays .

Grey1

Ok Grey let me know

i have to send you the password to the room since it's by invitation only and not open to the public at large

 

[Grey1]

As promised in the jerry's room

This is all the trades which was posted live in the room . I be back later if any one wants to know WHY i took a certain trade

Grey1

 

[Jerry Olson]

Hi Grey

first of all it was our pleasure to have you visit our real time room

your trades were spot on and we all appreciate it alot calling them live.

all types of traders learn from other good traders what it means to make a living doing what we both love.

Again i hope you'll become a part of our trading team we so enjoyed everything you brought to the table.

warm regards

jerry

 

[Grey1]

Hi Grey

first of all it was our pleasure to have you visit our real time room

your trades were spot on and we all appreciate it alot calling them live.

all types of traders learn from other good traders what it means to make a living doing what we both love.

Again i hope you'll become a part of our trading team we so enjoyed everything you brought to the table.

warm regards

jerry

Thanks Jerry . Today I was only directional trading and at no time I was hedged and this is some thing I donot like . I am a pair trader and always hedged against market direction but my scanner did not come with a suitable candidate due to Low Volume earlier .

I will be in the chat room 2morrow and be glad to post my trades in the room in future LIVE.

Grey1

PS:- Guys,,,,, My style of trading might not suit some traders as I am only scalping . As a result even a 5C profit is enough for me . Those following my Trades please understand you need to have a relatively large Pos size to make it worth while as you can see above I once had a 3000 Shares of AAPL .

 

[Trader333]

Hi Iraj,

I see that most of these were quite small in movement ie 10c to 15c before closing. Are you using a different approach nowdays to trade ? Also after commissions, what was your profit ?


Paul

 

[Jerry Olson]

Thanks Jerry . Today I was only directional trading and at no time I was hedged and this is some thing I donot like . I am a pair trader and always hedged against market direction but my scanner did not come with a suitable candidate due to Low Volume earlier .

I will be in the chat room 2morrow and be glad to post my trades in the room in future LIVE.

Grey1

PS:- Guys,,,,, My style of trading might not suit some traders as I am only scalping . As a result even a 5C profit is enough for me . Those following my Trades please understand you need to have a relatively large Pos size to make it worth while as you can see above I once had a 3000 Shares of AAPL .

Hi Grey

Actually that's what i'm doing as well..we in the room simply scalp trade all day. we do not hold swing trades and we exit as fast as we enter. works for us! We actually try to exit on the same 5 min bar, and never hold stocvks overnight ever! we like to sleep at night....

Like i said in the room we do not care about lot sizes, all we do really is post live trades entries and exits with the usual stops of about 20 cents.

The goal for a "days pay" is the same Grey, about $500.00 per day net. Some make less others make more. I just want traders to make money we can always tweak the system down the road. I need traders to be consistant and just set small goals for the day.

I'd prefer small lot sizes to start for newbies and just get used to the Laser Platform buying and selling quickly. I'm always telling them to sell too soon. Look you and i took 8-9-10 cents almost all day long. Nothing wrong with that.

Even if traders only trade 300-500 shares you can learn to scalp and gain the confidence to be a good solid trader each day. Losses are a part of the whole structure. We both took some hits today as chop was there all day long.

But at least they were legimate trades, lots of "so called" the best traders never lose???

Anyway i loved the way you handled your first day in the room, using the microphone and all. Grey it was awesome.

happy to have you along for the ride

best

jerry

 

[ianh]

Grey1,
It was great to have you with us yesterday, and I must also thank you for posting your trades live during the day. I know that a lot of the newer members were watching the trades unfold real-time, and although the profits were small, they were quick. I think that people can see that this is the only way to trade this crazy market at the moment. With the narrow ranges we are constantly seeing you need to be in and out in an instant, or the MM's will just reverse on you and take your stops.

Jerry has been preaching this for weeks now, and it is eventually sinking in!

We have some big names reporting earnings this week, and will be trading these each day post market.
Tuesday after the close we have AMGN & YHOO, not to mention the 3 letter boys IBM, TXN & MOT.
Wednesday after the close we have AAPL, EBAY, INTC, JNPR, NVLS, QCOM & RMBS. Hold on to your hat for that lot!
Thursday after the close we have BRCM, FFIV, GOOG, NDAQ, SNDK, SWIR, SYNA.

Should be an interesting week!

 

[BlueChip Trader]

Thanks Jerry. It was good to be with you yesterday.

There were some excellent calls live in the room. I both enjoyed and profited from them.
PEIX was a realy good call.

I've attached my day's analysis.