BlackPanther
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BIIB was much too choppy for my liking in the end. However, SNDK did end up making a nice move downwards!
TrendTracker
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BlackPanther said:
What a move! SNKD is one of my favourites but I made so well out of the first 90min that I decided to spent some time with my dear wife. So I missed the move. This underlines the fact that you should never assume there are no opportunities. (Don't have a life, keep your aching eyes on the screen and trade!
) Cheers,
TT
Mr. Charts
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Yet another excellent day for HOT stocks and core traders.
For example, here's an early trade in TTWO. The entry is a no brainer and the screen shot is at the time of exit. That candle was the high of the day, so yet again micro-analysis told me in advance that the move was over - BEFORE there was any indication at all on the chart !
The price then fell from that level and has fallen ever since; it is currently at 14.12 - where it opened the day.
Anyone who wants to see the level2 screen at the instant of my exit is welcome to PM me.
Richard
Nice trade Richard,
If you have a level II screen shot available, post it here. Please do not make people PM you for it.
JO
For example, here's an early trade in TTWO. The entry is a no brainer and the screen shot is at the time of exit. That candle was the high of the day, so yet again micro-analysis told me in advance that the move was over - BEFORE there was any indication at all on the chart !
The price then fell from that level and has fallen ever since; it is currently at 14.12 - where it opened the day.
Anyone who wants to see the level2 screen at the instant of my exit is welcome to PM me.
Richard
Nice trade Richard,
If you have a level II screen shot available, post it here. Please do not make people PM you for it.
JO
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Mr. Charts
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.........so, as I was saying, 99% of the time there are HOT stocks to be found to make money from, even on days like today when the COMPQ ended -0.06%, the DOW -0.27% and the SPX -0.09%.
One of my HOT stocks was QCOM, chosen before the market even opened.
Some would say, why? Well, check out the daily chart; check out news stories etc. and you will find the answers easily enough. More than enough to justify keeping an especially close eye on the stock right from the get go.
I watched micro-analysis and saw the behaviour of the MMs and retail and the volume of sells as everyone sold/shorted this stock. As it broke through the decade number heading for penguin land only the seriously unwise were buying from the sellers on sheer momentum. That particular sort of momentum doesn't turn on a dime in this type of situation so I shorted on the cross hairs at 39.95 with a MAXIMUM immediate stop of 40.02, a risk of 7c. However the probability of that stop being hit was close to zero. Yes, I know that sounds unlikely and unbelievable but when you can read and recognise that sort of momentum and have been trading for years for your living doing this sort of trade, you'd understand.
The price waterfalled and showed some signs of slowing as it approached the $39 level so I covered half my position at 39.02.
It then continued down reaching a low of 38.77 and then micro-analysis (level 2 MM and retail activity, T&S, momentum) visibly changed and I hit "close position" to cover the other 500 with a fill at 38.83
This produced a profit after commission of $1015 on the trade between entry at 2.33pm and final exit at 2.41pm
This is the way a trader starts the day making a $1000 for minimum risk.....repeatedly.
True traders can trade a market whatever it does, trend or chop, using different approaches.
Personally I prefer HOT stocks because you can make more money and they suit my personality - I love movement preferring it to chop. Of course, if there is only chop around that has to do, but you can almost always find movement.
On the rare occasions you can't, then you trade relatively small moves but need to use larger size to make it worthwhile.
The micro-analysis proved to be spot on and the stock made a low for the day at 38.77.
Level 2 often tells you what is going to happen BEFORE it does, just as in this instance.
People should also, imho, set up their screens for ultra fast executions in a similar manner to that shown in this image which was taken a few seconds after my final exit.
Such an arrangement also allows you pyramid into positions, scale in and scale out as you actively manage the position.
I am indebted to Black Panther for showing me out to tailor design the screen like that.
Making the day's minimum profits inside 11 minutes from the open is quite acceptable to me.
Richard
One of my HOT stocks was QCOM, chosen before the market even opened.
Some would say, why? Well, check out the daily chart; check out news stories etc. and you will find the answers easily enough. More than enough to justify keeping an especially close eye on the stock right from the get go.
I watched micro-analysis and saw the behaviour of the MMs and retail and the volume of sells as everyone sold/shorted this stock. As it broke through the decade number heading for penguin land only the seriously unwise were buying from the sellers on sheer momentum. That particular sort of momentum doesn't turn on a dime in this type of situation so I shorted on the cross hairs at 39.95 with a MAXIMUM immediate stop of 40.02, a risk of 7c. However the probability of that stop being hit was close to zero. Yes, I know that sounds unlikely and unbelievable but when you can read and recognise that sort of momentum and have been trading for years for your living doing this sort of trade, you'd understand.
The price waterfalled and showed some signs of slowing as it approached the $39 level so I covered half my position at 39.02.
It then continued down reaching a low of 38.77 and then micro-analysis (level 2 MM and retail activity, T&S, momentum) visibly changed and I hit "close position" to cover the other 500 with a fill at 38.83
This produced a profit after commission of $1015 on the trade between entry at 2.33pm and final exit at 2.41pm
This is the way a trader starts the day making a $1000 for minimum risk.....repeatedly.
True traders can trade a market whatever it does, trend or chop, using different approaches.
Personally I prefer HOT stocks because you can make more money and they suit my personality - I love movement preferring it to chop. Of course, if there is only chop around that has to do, but you can almost always find movement.
On the rare occasions you can't, then you trade relatively small moves but need to use larger size to make it worthwhile.
The micro-analysis proved to be spot on and the stock made a low for the day at 38.77.
Level 2 often tells you what is going to happen BEFORE it does, just as in this instance.
People should also, imho, set up their screens for ultra fast executions in a similar manner to that shown in this image which was taken a few seconds after my final exit.
Such an arrangement also allows you pyramid into positions, scale in and scale out as you actively manage the position.
I am indebted to Black Panther for showing me out to tailor design the screen like that.
Making the day's minimum profits inside 11 minutes from the open is quite acceptable to me.
Richard
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TheBramble
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An interesting perspective on how pre-market news analysis together with detailed micro-management of the trade using using LII behaviour to assess momentum can lead to a useful profit.
The initial stop of 7c having a probability of being close to zero would be possibly difficult to qualify statistically, but given the behaviour of the stock, the 'ceiling' at $40 and the other factors you mention, it did seem quite a safe bet.
It's always a tough call on whether to scale out (or in for that matter) unless one has specific empirical rules for doing so. In which case, it's not a call at all. For any systematic methodology, everything needs to be systematic and that includes scaling in/out.
Of course, that's just my view.
Nicely executed trade Richard.
The initial stop of 7c having a probability of being close to zero would be possibly difficult to qualify statistically, but given the behaviour of the stock, the 'ceiling' at $40 and the other factors you mention, it did seem quite a safe bet.
It's always a tough call on whether to scale out (or in for that matter) unless one has specific empirical rules for doing so. In which case, it's not a call at all. For any systematic methodology, everything needs to be systematic and that includes scaling in/out.
Of course, that's just my view.
Nicely executed trade Richard.
Dentalfloss
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i thought this was alan rich"s thread,not all and sundry.keep us posted alan
TrendTracker
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dentist007 said:
Hi,
I thought about that too - after I posted my message. However, I didn't delete it for the following reasons: a) I haven't seen Alan posting here for a long time and b) I remember Alan welcoming / engouraging Richard to post here too. Therefore, a reply that relates to something that Richard posted should be okay.
I'm sorry if this is not the case and I will not post here / comment on Richard again. See, it's a bit difficult to discuss with Alan or about Alan's trades if he is not posting.
However, I'd love to read Alan's posts again.For instance, I'd be interested to hear how things are developing with Via-trader.com. Is it catching the big movers?
Cheers,
TT
Mr. Charts
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Thanks for the very kind words TrendTracker - I see your post has been moved elsewhere.
Thanks also to chris_ri and fokjock and to everyone who has emailed.
Rest assured I will continue to post as and when I choose. In fact I only returned to t2w at Alan's specific request. I suggest anyone new to the thread reads the early posts...........
Also, although I haven't seen Alan for a few days, I assure anyone interested that Alan will also post when he wishes and has the time.
Richard
Thanks also to chris_ri and fokjock and to everyone who has emailed.
Rest assured I will continue to post as and when I choose. In fact I only returned to t2w at Alan's specific request. I suggest anyone new to the thread reads the early posts...........
Also, although I haven't seen Alan for a few days, I assure anyone interested that Alan will also post when he wishes and has the time.
Richard
TrendTracker
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You are welcome Richard. Have you noticed how MRVL is falling pre-market today. It is down 5 dollars right now.
Cheers,
TT
Cheers,
TT
Mr. Charts
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Yes, TrendTracker, I am short pre-market for a very large gain and my current trailing stop is 46.90
Richard
Richard
Mr. Charts
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Stop now down to 46.60
Mr. Charts
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out 46.50
TrendTracker
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Well done. There's a lot of support in the EOD chart around this area...
Mr. Charts
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Thanks TT.
A multi dollar move is a rather good start to the day.
Once the market opened, it rose exactly a whole dollar from my exit at 46.50 to a high of 47.50.
Talk later, more fish about to fry ;-))
Richard
A multi dollar move is a rather good start to the day.
Once the market opened, it rose exactly a whole dollar from my exit at 46.50 to a high of 47.50.
Talk later, more fish about to fry ;-))
Richard
Naz
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Yes, i welcome anyone posting here.
I've been absent firstly becuase i was in the St Lucia on holiday and then i was told that Via-trader wanted to become a scanning only site. So i had no choice but to leave at the end of this month along with the other traders.
This meant i've spent a lot of time dealing with people who were putting ideas to me. Testing out any software and giving them various demonstrations. As well as trading, coaching 1-2-1 and running a live web site in market hours. Now i've got to the end of the month and i've got some free time so i'm back again.
I've been absent firstly becuase i was in the St Lucia on holiday and then i was told that Via-trader wanted to become a scanning only site. So i had no choice but to leave at the end of this month along with the other traders.
This meant i've spent a lot of time dealing with people who were putting ideas to me. Testing out any software and giving them various demonstrations. As well as trading, coaching 1-2-1 and running a live web site in market hours. Now i've got to the end of the month and i've got some free time so i'm back again.
Last edited:
Naz
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As well as day trading the US, I swing trade stocks on the UK market where i read the intra day activity to understand how it fits into a multi day swing trade. This gets me in and out whilst EOD swing traders are not quite sure whats going on.
I use Sharescope, putting an intra day chart next to an end of day one to get results like the 15% five day move i made in Corus last week.
Sharescope were one of the very kind people this month who invited me to their offices where i demonstrated this idea of mixing intra day and end of day ideas together for multi day swing moves. Before you ask yes they wanted to include some of my ideas in their software, but i politely refused. Nice people as they are.
Clickevents also made me insert a module in my weekend course last Saturday to show how this works and i was pleased to see the look of surprise on attendees faces when i demonstrated it.
Here are my entries and exits on the 15% Corus move, they were both taken by applying intra day trading skills to a multi day swing trade.
Alan
I use Sharescope, putting an intra day chart next to an end of day one to get results like the 15% five day move i made in Corus last week.
Sharescope were one of the very kind people this month who invited me to their offices where i demonstrated this idea of mixing intra day and end of day ideas together for multi day swing moves. Before you ask yes they wanted to include some of my ideas in their software, but i politely refused. Nice people as they are.
Clickevents also made me insert a module in my weekend course last Saturday to show how this works and i was pleased to see the look of surprise on attendees faces when i demonstrated it.
Here are my entries and exits on the 15% Corus move, they were both taken by applying intra day trading skills to a multi day swing trade.
Alan
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