Best Thread US day traders thread.
Mr. Charts
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Thanks, Bez, but it really is just stock choice, the right set-ups, the right trigger, then manage the trade on what I call micro-analysis, (chart, level 2, T&S, reading market participants all integrated like driving a car), and the discipline to act on the evidence in front of your eyes.
If you look at the time of the post, (14.47), when I said, "turning so out" and then look at the attached chart, you can see that indeed was the turning point which my micro-analysis fore-warned me of BEFORE it happened. And look at where the price dropped to afterwards......
The other thing is that although like everyone else I have my opinion, (I thought initially gap closure was likely), when the evidence tells me my opinion requires revision - it gets revised instantly. I had no idea where it would finally end up, but then I don't need to know/guess/judge; I just do as the market tells me. So actually I don't take any notice of anyone's opinion, not even my own.
Really it is just method and technique.............and no navel gazing.
Richard
If you look at the time of the post, (14.47), when I said, "turning so out" and then look at the attached chart, you can see that indeed was the turning point which my micro-analysis fore-warned me of BEFORE it happened. And look at where the price dropped to afterwards......
The other thing is that although like everyone else I have my opinion, (I thought initially gap closure was likely), when the evidence tells me my opinion requires revision - it gets revised instantly. I had no idea where it would finally end up, but then I don't need to know/guess/judge; I just do as the market tells me. So actually I don't take any notice of anyone's opinion, not even my own.
Really it is just method and technique.............and no navel gazing.
Richard
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Mr. Charts
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No, I didn't samtron 
I was out for an average fill of over $71.
I don't wait for a stop or trailing stop to be hit if the evidence on micro-analysis tells me the move is likely to be over.
IMO, this business is not about watching yourself lose profits waiting for a stop to be hit if it turns against you.............
Richard
I was out for an average fill of over $71.
I don't wait for a stop or trailing stop to be hit if the evidence on micro-analysis tells me the move is likely to be over.
IMO, this business is not about watching yourself lose profits waiting for a stop to be hit if it turns against you.............
Richard
Bez said:Personally I wouldn't get to hung up on it at the moment.....It will come easier over time
To me the simple chart patterns are the key at first ,know these backwards, then you can start to get a feel of the L2 screen around these key pressure points to give an idea if they going to hold or fail.
I know, I use a more technically based method then most, & its true, L2 is more of a secondary tool for me ,to try gauge whats happening as we arrive at a known pressure point (if your on a sub 5min time frame). Other than that, the bars/ patterns are still my primary focus. The printed 5min bar will tell the story of what happened around these areas's if you didn't have the L2 up.
Others might think its a barmy way of doing things but it sits easy with me & above all thats the most important thing find something that fits your style
I've got a problem on my main line (Diagnosis B004 : FAULT) what ever that means so its a take it easy kind of day for me
Good point.
I can recognise the patterns quite well, I think the next step (for me ) is to build absolute trust in
them, and not loose faith in a set up just because its let you down recently. (Its all in the mind
)Hope your line is fixed soon,
My broad-band went down for 2 weeks once and being stuck with just a standard modem for two weeks was a real pain.
Gadgetman
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Recommend this site to anyone looking to compare broadband suppliers: http://www.adslguide.org.uksamtron said:
(You can check how your broadband is performing, too.)
Not sure if I'm supposed to say who I use (maybe someone can advise?) but they always top the surveys in all categories. Not the cheapest but certainly the most resilient I've ever used.
Gadgetman
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I don't want to hex myself but.........
Highly recommend "Trading in the Zone" to any other novices who cannot figure out what they're doing wrong. Still only half-way through and it's made a massive difference to my attitude.
It's all in the mind! :idea:
Added: I've been told there are a couple of books with the same title. The one I'm talking about is by Mark Douglas. (Thanks to PitBull for the recommendation.)
Highly recommend "Trading in the Zone" to any other novices who cannot figure out what they're doing wrong. Still only half-way through and it's made a massive difference to my attitude.
It's all in the mind! :idea:
Added: I've been told there are a couple of books with the same title. The one I'm talking about is by Mark Douglas. (Thanks to PitBull for the recommendation.)
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PitBull
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Richard
Fantastic trade sir! I saw that one and let it go as had others to concentrate on.
A quick question if I may about these trades straight out of the gate.
What was your trigger, as obviously no chart pattern had set itself up at the open straightaway?
Was it the break of the first 5 min bar, third 5 min bar or was it purely a level 2 play?
Many thanks
Lee
Fantastic trade sir! I saw that one and let it go as had others to concentrate on.
A quick question if I may about these trades straight out of the gate.
What was your trigger, as obviously no chart pattern had set itself up at the open straightaway?
Was it the break of the first 5 min bar, third 5 min bar or was it purely a level 2 play?
Many thanks
Lee
Gadgetman
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Frustrated of Dover
Have been doing well and getting to grips with Level 2. Made money today then recurring problem hits me from TradeStation. They've had quite a few complaints about delays (Waiting for data.....) coming up on the Level 2 screen. I've had to post a scathing comment on their support board :-(
I'm sitting here watching QCOM as it breaks $42 and can't trade it because I have no idea where the MMs are sitting
And as I'm writing it's got up to 46.14 - ah well maybe it'll hit resistance at yesterday's highs around 46.20-ish.
D*MN!
If you're having a similar problem with them - pls let me know.
Have been doing well and getting to grips with Level 2. Made money today then recurring problem hits me from TradeStation. They've had quite a few complaints about delays (Waiting for data.....) coming up on the Level 2 screen. I've had to post a scathing comment on their support board :-(
I'm sitting here watching QCOM as it breaks $42 and can't trade it because I have no idea where the MMs are sitting
And as I'm writing it's got up to 46.14 - ah well maybe it'll hit resistance at yesterday's highs around 46.20-ish.
D*MN!
If you're having a similar problem with them - pls let me know.
Yeah. There is a problem indeed. INET is out. The order matching machine was out to be exact. Currently it works again. But you can't see the ISLD book yet. Volume is extreme low and the books thin. So watch out.Gadgetman said:Have been doing well and getting to grips with Level 2. Made money today then recurring problem hits me from TradeStation. They've had quite a few complaints about delays (Waiting for data.....) coming up on the Level 2 screen. I've had to post a scathing comment on their support board :-(
I'm sitting here watching QCOM as it breaks $42 and can't trade it because I have no idea where the MMs are sitting
And as I'm writing it's got up to 46.14 - ah well maybe it'll hit resistance at yesterday's highs around 46.20-ish.
D*MN!
If you're having a similar problem with them - pls let me know.
-Dave.
Gadgetman
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Gadgetman said:Have been doing well and getting to grips with Level 2. Made money today then recurring problem hits me from TradeStation. They've had quite a few complaints about delays (Waiting for data.....) coming up on the Level 2 screen. I've had to post a scathing comment on their support board :-(
I'm sitting here watching QCOM as it breaks $42 and can't trade it because I have no idea where the MMs are sitting
And as I'm writing it's got up to 46.14 - ah well maybe it'll hit resistance at yesterday's highs around 46.20-ish.
D*MN!
If you're having a similar problem with them - pls let me know.
And I've just watched WYNN go through a 40 cent move but didn't trade because didn't have the confidence that L2 would stay available.
Calm down Dave - it's the weekend........
About Island
robq
December 16, 2005
Head Trader Alert #2005-145 -INET Data Center is Unavailable
http://www.nasdaqtrader.com/Trader/News/2005/headtraderalerts/hta2005-145.stm
robq
December 16, 2005
Head Trader Alert #2005-145 -INET Data Center is Unavailable
http://www.nasdaqtrader.com/Trader/News/2005/headtraderalerts/hta2005-145.stm
Hi people
hope you dont mind me butting in but can anyone point me in the right direction regarding level 2. the breakdown with amgn tonight possibly only predictable with level 2? starting to feel like im kinda missing it a little bit.
Millsy
hope you dont mind me butting in but can anyone point me in the right direction regarding level 2. the breakdown with amgn tonight possibly only predictable with level 2? starting to feel like im kinda missing it a little bit.
Millsy
Mr. Charts
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Since my final post has disappeared, I re-iterate my days of posting on t2w are over as are answering questions and helping people off board by PM.
I have unsubscribed from all threads and will not be reading PMs, but my friends and everyone I have helped in the past can always contact me on [email protected]
I'm out.
Richard
And I trust this post stays....it seems quite reasonable to me.
I have unsubscribed from all threads and will not be reading PMs, but my friends and everyone I have helped in the past can always contact me on [email protected]
I'm out.
Richard
And I trust this post stays....it seems quite reasonable to me.
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millsy500 said:
Hi millsy...
The breakdown in AMGN was well flagged in the charts.....The price action and patterns gave the clues all day it was in a weak position..
Level 2 has its place but its just a tool in your trading box....Learn the patterns, listen to what the market is trying to tell you, with the price action. After all, patterns are just foot prints of traders and a guide to the money flow. Once you've mastered the patterns you can then focus on areas that offer the trading opportunities, you can then fine tune things around these area's with the likes of Level 2 ect ect... But its always the price action and patterns that alert you to the possible opportunities in the first place
Richard..
Its a very drastic conclusion, but I'd just like to thank you for all your posts!!!
Hopefully things might change in the future, that might allow you to reconsider your position about posting?? until then I wish you all the best!! ....
Right I'm of the the Airport to pick family up at this un savoury hour for a Saturday morning
A 5min AMGN Chart & a 60min to show the larger 50%
Bez
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Richard, I too was annoyed at the "apparent" removal of posts. However it transpires that they have been moved to here:
http://www.trade2win.com/boards/showthread.php?p=226193&highlight=banned#post226193
It seems to me rather rude, to move posts with no reference to the action on the thread itself, and even more so to do it without informing the poster of the action directly. Ho Hum.
Q
http://www.trade2win.com/boards/showthread.php?p=226193&highlight=banned#post226193
It seems to me rather rude, to move posts with no reference to the action on the thread itself, and even more so to do it without informing the poster of the action directly. Ho Hum.
Q
Hi Bez
thanks for that explaination i see it now. I was kind of thinking that it was going to test the support early on and i think Samtron summed me up perfect , i allowed my judgement to become clouded.
Another i see moment!
Cheers people
Millsy
thanks for that explaination i see it now. I was kind of thinking that it was going to test the support early on and i think Samtron summed me up perfect , i allowed my judgement to become clouded.
Another i see moment!
Cheers people
Millsy
Bez said:Hi millsy...
The breakdown in AMGN was well flagged in the charts.....The price action and patterns gave the clues all day it was in a weak position..
Level 2 has its place but its just a tool in your trading box....Learn the patterns, listen to what the market is trying to tell you, with the price action. After all, patterns are just foot prints of traders and a guide to the money flow. Once you've mastered the patterns you can then focus on areas that offer the trading opportunities, you can then fine tune things around these area's with the likes of Level 2 ect ect... But its always the price action and patterns that alert you to the possible opportunities in the first place
Richard..
Its a very drastic conclusion, but I'd just like to thank you for all your posts!!!
Hopefully things might change in the future, that might allow you to reconsider your position about posting?? until then I wish you all the best!! ....
Right I'm of the the Airport to pick family up at this un savoury hour for a Saturday morning
A 5min AMGN Chart & a 60min to show the larger 50%
Bez
Hi Bez, Great posts!!
But I'd say support actually came in around the pivot at 79.18. On a 3 min chart. It consolidates a couple of minutes around the pivot and then around 15.10 (5 min) 15.12 (3 min) the bar closes under the pivot. Which gives another short signal. And then it touched the low of Thursday. Which is another support!
That's what I see. I think both explanations would be correct! What do you think, Bez?
-Dave.
