nikoschopen
2,824 posts
msg #62390
- Ignore nikoschopen |
5/9/2008 2:06:33 AM
This thread is obviously for "no-frills" daytraders and others who might be inclined to make the plunge into the unwholesome world of day trading. Only request that I make is that you limit the discussion to, well, day trading and DO NOT post filters. Day trading is all about timing and utilizing the best techniques to maximize gains while minimizing losses. It's got nothing to do with what the filter spits out, or so I'm told.
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luc1grunt
622 posts
msg #62394
- Ignore luc1grunt
modified |
5/9/2008 7:12:05 AM
intraday triangles setups on the 1, 5, 15 minute chart. 15 for s/r levels, 5 minute for the strong pattern with volume support and calculation of r;r, the 1 minute for entry. These setups pay consideration to opening range and previous OHLC as well. Matching patterns on the 5 and 15 are extra strong.
15 minute opening range breakout
Oh yeah, and always a couple gap fades during the open.
edit: the only filters that supports this are a naz volume / ADR% scan and gap fill % scan.
I won't post the filters Niko, self explanatary.... :)
3 types of trades each day on a basis of 5-15 stocks.
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TheRumpledOne
6,407 posts
msg #62403
- Ignore TheRumpledOne |
5/9/2008 10:20:27 AM
"Day trading is all about timing and utilizing the best techniques to maximize gains while minimizing losses. It's got nothing to do with what the filter spits out, or so I'm told."
Some stocks, like aapl and rimm, are volatile and range over a dollar a day on average. But you don't know that unless you use a filter to display the statistics. The filter isn't used to pick the stocks. The filter is used to report the stats.
Other stocks, like abk and spf, usually "POP" 10% or more once every two weeks. Once again, the filter tells you that.
Now, "WAIT FOR GREEN" is about the best technique for daytrading because it is simple and uses no indicators.
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chetron
2,817 posts
msg #62406
- Ignore chetron |
5/9/2008 11:07:17 AM
luc1grunt
could you give us a stock name that you traded today as an example?
tia chetron
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nikoschopen
2,824 posts
msg #62412
- Ignore nikoschopen |
5/9/2008 11:32:40 AM
Quote from TheRumpledOne:
Some stocks, like aapl and rimm, are volatile and range over a dollar a day on average. But you don't know that unless you use a filter to display the statistics. The filter isn't used to pick the stocks. The filter is used to report the stats.
Although I have my reservations, I'll give you the benefit of the doubt. In that case, I would ask not WHAT but HOW (sounds familiar, eh?) you would trade the stats. Give us as much specific examples as possible. (eg. What is "Wait for green"?) As the thread header indicates, I think it would be in the best interest of others should you elaborate on specific techniques, if no other than ordinary tips or tricks. Thanks.
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nikoschopen
2,824 posts
msg #62414
- Ignore nikoschopen
modified |
5/9/2008 11:39:02 AM
Quote from luc1grunt :
I won't post the filters Niko, self explanatary.... :)
You shouldn't have to. Posting a chart or two illustrating where and when you made the trade would work better in my opinion. For a quick primer on how to post ure chart, refer to this thread: How to Post Various Kewl Graphic Stuff on SF
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luc1grunt
622 posts
msg #62423
- Ignore luc1grunt
modified |
5/9/2008 12:48:09 PM
JNPR, descending triangle forming on the 5 minute at 10:35. Bounced and slowly brokedown. at 11:07 on the 1, it broke spt but quickly retraced. At 11:00 it broke and held. Initial tgt was very minor support at 27.41. It easily broke and proceeded to increase volume. Next target was LOD so there was room to scale in at both touches of .41. Naz began sliding back down. T&S showed price sticking at .33. Added anoher limit short at .29 and away she went.
Sorry for the delay in posting, just exited at 27.05.
initial stop at .62 to give it room.
Naz/S&P direction gave the trade confidence on top of the JNPR selling volume.
No indicators other than volume and the 5/1 minute s/r levels. 15 minute provided the intial LOD and range.
JNPR has the volatility and liquidity to ease in and out with many shares while using limits.
Hope that helps.
Edit....above posted time of 11;00 ("it broke and held") should have been 11:10. Can't post and monitor trades.
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luc1grunt
622 posts
msg #62424
- Ignore luc1grunt |
5/9/2008 12:54:19 PM
Niko, I stated that in jest as I was staying in concert with the OP. Grunt
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luc1grunt
622 posts
msg #62425
- Ignore luc1grunt |
5/9/2008 12:55:21 PM
CEPH....sym triangle on the 15, 5 and 1
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nikoschopen
2,824 posts
msg #62427
- Ignore nikoschopen |
5/9/2008 1:31:37 PM
Grunt,
Thanks for the pointer. Perhaps you could post a chart with detailed annotations once the market is closed.
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