[Mar 25, 2012 8:03:30 PM EDT]     InvestorsLive    hope you guys had a good Friday, felt good to take the day off had people in and out all day ended up working on walk way all day with my buddy
[Mar 25, 2012 8:04:03 PM EDT]     InvestorsLive    you forget the outside lifestyle after being behind screens for a living for so long, always enjoyed outdoor stuff in yard … but been in Boston and suburbs forever now
[Mar 25, 2012 8:04:05 PM EDT]     InvestorsLive    never having grass
[Mar 25, 2012 8:04:10 PM EDT]     InvestorsLive    was fun anyway
[Mar 25, 2012 8:04:13 PM EDT]     InvestorsLive    lets start
[Mar 25, 2012 8:04:37 PM EDT]     InvestorsLive    Same as always – I will cover the questions sent in and open it up for RELATED questions after each one
[Mar 25, 2012 8:04:53 PM EDT]     InvestorsLive    don’t ask me what I think of AAPL after I answer a question I will go in order and then open it up at the end
[Mar 25, 2012 8:05:00 PM EDT]     InvestorsLive    better yet, don’t ask me about AAPL at all
[Mar 25, 2012 8:05:12 PM EDT]     InvestorsLive    QUESTION: Could you list and discuss what you regard as the essential steps to daily preparation.
[Mar 25, 2012 8:05:23 PM EDT]     InvestorsLive    ANSWER: Scans the night before, come to the market with a plan and one thing I should mention given last week why not see what is available for borrows? GALE for example everyone decides to try to short it into the parabolic and all I saw in chat “ugh no borrows, no borrows, dang no borrows, none here, anyone have borrows?” etc … Why? Why did you wait until the trade set up at 9:40AM to find out it needed to be reserved? I asked that question in chat, this is the stuff that separates those who want it vs. those that just expect it, and those that just want someone else to do it for them. Common guys! Lift a finger, prepare yourself – take this seriously. It’s the prep work that makes trading easier.
[Mar 25, 2012 8:06:06 PM EDT]     InvestorsLive    The main thing with trading the way Muddy and I do is knowing what stocks can run, know what stocks have a history of moving and knowing WHAT charts look like
[Mar 25, 2012 8:06:28 PM EDT]     InvestorsLive    knowing WHAT charts look like ie: knowing what the daily chart looks like
[Mar 25, 2012 8:06:57 PM EDT]     InvestorsLive    how does it help? you may not be watching it during the day you see it scream on the HOD list and you remember HEY Tuesday night that stock looked like it was about to break never did … but NOW it JUST did
[Mar 25, 2012 8:07:11 PM EDT]     InvestorsLive    that’s what it’s about, and you only see/remember/know that from your daily prep
[Mar 25, 2012 8:07:43 PM EDT]     InvestorsLive    so whether or not you plan to trade them I suggest review every daily chart that you see on scan, momo scan or anything just to get it in your brain – believe it or not you’ll start remember more than you can imagine
[Mar 25, 2012 8:08:23 PM EDT]     InvestorsLive    Any questions related?
[Mar 25, 2012 8:08:50 PM EDT]     sfk10    how do you exactly reserve borrows? didn’t know you could do so even
[Mar 25, 2012 8:09:04 PM EDT]     InvestorsLive    depends on your broker
[Mar 25, 2012 8:09:11 PM EDT]     InvestorsLive    some online, some phone, some just checking or requesting a borrow
[Mar 25, 2012 8:09:18 PM EDT]     jonthegreek1    on suretrader I tried to reserve some shares pre market they told me I had to call into the sales desk to do the trades…. is that how it works with them only
[Mar 25, 2012 8:09:28 PM EDT]     InvestorsLive    Broad you can do online, Skype etc, Speed/Sure through the message center and I’m not sure about others
[Mar 25, 2012 8:09:29 PM EDT]     karen99    FYI, I call up every day t 8:10 and reserve shares to short. If i don’t use them, no big deal. But at least i have them
[Mar 25, 2012 8:09:35 PM EDT]     InvestorsLive    you can find that out by calling your own broker
[Mar 25, 2012 8:09:39 PM EDT]     sfk10    ok
[Mar 25, 2012 8:09:42 PM EDT]     InvestorsLive    exactly karen and you know by 8:10AM
[Mar 25, 2012 8:09:55 PM EDT]     InvestorsLive    not 9:31AM when you want them and find out “sh*t I shoulda reserved”
[Mar 25, 2012 8:10:04 PM EDT]     Vegita    who do you use as your broker karen99 ?
[Mar 25, 2012 8:10:12 PM EDT]     InvestorsLive    FIdeility
[Mar 25, 2012 8:10:17 PM EDT]     InvestorsLive    Fidelity
[Mar 25, 2012 8:10:19 PM EDT]     InvestorsLive    for Karen
[Mar 25, 2012 8:10:26 PM EDT]     karen99    that department opens up at 8, so i call right away. they know my routine
[Mar 25, 2012 8:10:37 PM EDT]     karen99    yes fidelity
[Mar 25, 2012 8:10:41 PM EDT]     sfk10    interesting, thanks for info
[Mar 25, 2012 8:10:42 PM EDT]     rude1    with ib we cant do that though fwiw
[Mar 25, 2012 8:11:05 PM EDT]     InvestorsLive    yes jon – we’ve been over this – One reason I didn’t ‘promote’ SureTrader as the “secret broker w/ best borrows dual clearing” is b/c it’s a pain in the %%% to get them BUT you at least have the OPTION to
[Mar 25, 2012 8:11:14 PM EDT]     InvestorsLive    like Timmy did
[Mar 25, 2012 8:11:19 PM EDT]     InvestorsLive    its more about the pattern day trade rule
[Mar 25, 2012 8:11:45 PM EDT]     InvestorsLive    sure, SureTrader you can use the dual clearing feature ie: Wedbush clearing which allows you to use another borrow list but you need to place the trade with them on the desk – not worth it in my opinion
[Mar 25, 2012 8:12:00 PM EDT]     InvestorsLive    Speed/Sure has had plenty of borrows as is
[Mar 25, 2012 8:12:08 PM EDT]     GaryJPalys    Yeah, the commissions could eat you alive with penny stocks on SureTrader
[Mar 25, 2012 8:12:19 PM EDT]     jonthegreek1    ok thanks
[Mar 25, 2012 8:12:33 PM EDT]     InvestorsLive    well it’s not for pennystocks it’s for traders under $25k w/ a reasonable comission structure
[Mar 25, 2012 8:12:43 PM EDT]     InvestorsLive    if you want competitive rates on penny stocks then open SpeedTrader
[Mar 25, 2012 8:12:49 PM EDT]     InvestorsLive    the point is it’s for sub $25k
[Mar 25, 2012 8:12:55 PM EDT]     CrackerJack    IL…I short mostly, looking to open another acct, between IB or Speed which has best borrows for most OTC, NAZ, NYSE in your experience?
[Mar 25, 2012 8:12:57 PM EDT]     emthree    Not many people using eTrade for shorting, is it because of difficult to find borrows? I recently switched over
[Mar 25, 2012 8:13:02 PM EDT]     jonthegreek1    would you recommend them over broadstreet?
[Mar 25, 2012 8:13:35 PM EDT]     InvestorsLive    Speed has been fine, I use Speed Broad Street Capstone and have just about all I want
[Mar 25, 2012 8:13:39 PM EDT]     InvestorsLive    Etrade sux
[Mar 25, 2012 8:13:43 PM EDT]     sotorious    is it even smart for a new person entering stocks to think about shorting just yet? Or is it brest to learn the basics first?
[Mar 25, 2012 8:13:52 PM EDT]     InvestorsLive    Broad Street has great availability
[Mar 25, 2012 8:14:03 PM EDT]     InvestorsLive    ok guys – as I said to begin we will go in order w/ the questions and not get off topic
[Mar 25, 2012 8:14:14 PM EDT]     karen99    and if i can’t get the shares, i just ignore that play. and concentrate on others. GALE i couldn’t get any, so i just moved on
[Mar 25, 2012 8:14:25 PM EDT]     InvestorsLive    sotorious – shorting is basic, easier for me to short than it is to long
[Mar 25, 2012 8:14:44 PM EDT]     Laura    right karen, just move on is corrrect
[Mar 25, 2012 8:14:51 PM EDT]     sotorious    so something i should def look into. I sort of ignored that subject.
[Mar 25, 2012 8:14:58 PM EDT]     InvestorsLive    QUESTION: I noticed a member in the chat went long on a s/s position earlier this week due to misinterpretation of an alert. Is it possible to set some new guidelines to avoid this from happening in the future?
[Mar 25, 2012 8:15:08 PM EDT]     InvestorsLive    ANSWER: The only reason they’d misinterpret is if they didn’t pay attention to what was alerted nor review the plan for the day. I posted I wanted an AM gap and parabolic move for the short, I said I started in s/s at 3.30 and was hoping for a 3.50+ squeeze to get the rest, it happened I added and we banked. Then someone said they were long and thought long, between the scan, pre market comments and clear call I’d say maybe it’s a good thing that it happened now as a wakeup call and not with more money if they are not going to pay attention to alerts.
[Mar 25, 2012 8:15:36 PM EDT]     InvestorsLive    We have this new found thing called ‘selective reading’ I noticed in the chat room after we got a ton of new Tim members after his IRYS thingy …. they don’t read they just take a ticker and press buttons and ask why they lost later
[Mar 25, 2012 8:15:44 PM EDT]     GaryJPalys    I’m a nudeie and I understood that
[Mar 25, 2012 8:15:53 PM EDT]     GaryJPalys    lol nubie even
[Mar 25, 2012 8:15:56 PM EDT]     emthree    clear as day.
[Mar 25, 2012 8:16:16 PM EDT]     InvestorsLive    when I post clear cut stuff there’s no excuses – not much I can do except hope that that loss opens your eyse and says HEY you can lose $$
[Mar 25, 2012 8:16:41 PM EDT]     InvestorsLive    The next 3 questions are all re: HOD list so I merged them together and will answer them as one
[Mar 25, 2012 8:16:58 PM EDT]     InvestorsLive    QUESTION: Can you go over in details how to take positions when HOD / LOD is mentioned in the chat? I am getting confused. There is seminar already and read through that but maybe some examples again? Can you post a screenshot of the monitor for just the scottrade HOD / LOD list section and how to efficiently use it with the posted watch lists? I’m confused as to how to utilize the HOD list. From reading lots of seminars I concluded that if a stock was a former runner/HOD around an even number that it was an automatic play but after losing money this way I guess its not. Is the HOD list just to look for what’s ran a bunch and wait for it to pull back and set up? Not actually play things while they’re at their HOD? What’s your thought process when you see a high day ranger on the HOD list?
[Mar 25, 2012 8:17:47 PM EDT]     InvestorsLive    First the screen shot of HOD list looks like this: http://www.investorsunderground.com/brokers/ bottom of that page
[Mar 25, 2012 8:18:06 PM EDT]     InvestorsLive    ANSWER: HOD/LOD list is a guide; a guide to what is moving any given day. If a stock is hitting HOD that doesn’t mean buy, sell or short it’s just moving and we should taken note. It’s about sifting through the HOD list to find out what is moving, what is setting up and what has a history of running (aka former runners)
[Mar 25, 2012 8:18:31 PM EDT]     InvestorsLive    I would wait until you’re happy with the risk vs. reward. There is nothing wrong with chasing a stock that has already started to run if you think it’s about time it breaks out, chart looks good on the daily and it has plenty of volume – however I would suggest playing a bit smaller given the chase, just in case the pop you’re buying into does a quick pull back it will give you an opportunity to add rather than be in full size and %%%% outta luck.
[Mar 25, 2012 8:18:55 PM EDT]     InvestorsLive    Usually if it’s a stock I like the chart on I will wait for the stock to pull back and if it looks to continue off consolidation I will then enter with a known risk of just below where it was consolidating. Trading is all about having a plan, there is no bad trade if you have a plan. Most people just jump into a stock with no idea of a stop which is where you run into an issue.
[Mar 25, 2012 8:19:52 PM EDT]     InvestorsLive    Any questions related?
[Mar 25, 2012 8:20:19 PM EDT]     InvestorsLive    as far as entry this relates to “HOW TO TRADE THE CHAT ROOM” seminar/powerpoint
[Mar 25, 2012 8:20:21 PM EDT]     InvestorsLive    suggested for today
[Mar 25, 2012 8:20:25 PM EDT]     sfk10    here is question IL, how long does it take you to come p with a plan?
[Mar 25, 2012 8:20:30 PM EDT]     InvestorsLive    use HOD as the guide and wait for one of the set ups covered
[Mar 25, 2012 8:20:37 PM EDT]     ettothree    is that a general rule for breakouts, get in at 1/4 or so then wait for the pullback to add?
[Mar 25, 2012 8:20:40 PM EDT]     ntrades555    so you jump right in if its due for a breakout and wait for it to consolidate and re test if its just a FR on the HOD list
[Mar 25, 2012 8:21:06 PM EDT]     InvestorsLive    sfk10 – u mean off the HOD list? I look for stocks that were on scan last night, night before or stocks I am familiar with aka former runners that may be worth pulling up
[Mar 25, 2012 8:21:43 PM EDT]     InvestorsLive    ettothree- no general rule all related to how you’re trading and what your trade type is, I scale in and I scale out hence a higher win rate than someone who may just go in full and out full
[Mar 25, 2012 8:21:51 PM EDT]     sfk10    IL, I mean when you notice a new stock that you weren’t so famaliar with. Like you look at the chart and figure out in 5 mins ?
[Mar 25, 2012 8:22:03 PM EDT]     Vegita    so .. are you mostly focused on the HOD list in the morning?
[Mar 25, 2012 8:22:06 PM EDT]     InvestorsLive    ntrade555 – I jump in if it sets up consolidation/perking etc ie: a set up I’m familiar with
[Mar 25, 2012 8:22:20 PM EDT]     Vegita    on the open .. do you watch the charts or the HOD list?
[Mar 25, 2012 8:22:45 PM EDT]     InvestorsLive    sfk10 – sure I just look for range – as long as it’s not choppy and it’s not .01 range I will consider it if it’s a set up I am familiar with (ie: first seminar on new member page)
[Mar 25, 2012 8:23:09 PM EDT]     InvestorsLive    Vegita – no not at all, I am most focused on what I came prepared for the day for, every tick in the AM is HOD or LOD
[Mar 25, 2012 8:23:19 PM EDT]     sfk10    ok
[Mar 25, 2012 8:24:04 PM EDT]     InvestorsLive    Any further questions related to the HOD list?
[Mar 25, 2012 8:24:06 PM EDT]     Vegita    so .. there is a pre list and momo list .. when is the appropriate time to start focusing on the HOD list ?
[Mar 25, 2012 8:24:30 PM EDT]     InvestorsLive    Vegita – when you’re daily prep and scan ideas have unfolded and you’re ready for more
[Mar 25, 2012 8:24:51 PM EDT]     InvestorsLive    but that doesn’t mean ignore it if other things are working, I always have an eye on it to find out what’s moving and look for a high ranger and a trend I like
[Mar 25, 2012 8:25:02 PM EDT]     InvestorsLive    let it pull back set up and bammm
[Mar 25, 2012 8:25:13 PM EDT]     -war-    ABCD!
[Mar 25, 2012 8:25:16 PM EDT]     InvestorsLive    always good to pull a few off the HOD list w/ big range or former runner and wait for them to set up
[Mar 25, 2012 8:25:24 PM EDT]     ettothree    how much does the volume contribute to your confidence it will pop instead of sell off
[Mar 25, 2012 8:25:32 PM EDT]     InvestorsLive    yep like ABCD … or in some markets … high flyer then mid day cracks etc
[Mar 25, 2012 8:25:56 PM EDT]     InvestorsLive    ettothree – I have volume parameters in the HOD list 100k+ and .50 to $30 typically
[Mar 25, 2012 8:26:02 PM EDT]     Vegita    got it .. thank you. that made it a lot clearer for me. much appreciated.
[Mar 25, 2012 8:26:08 PM EDT]     InvestorsLive    but typically won’t trade stocks on Nasdaq less than 1m volume
[Mar 25, 2012 8:26:09 PM EDT]     knucklemonkey    Is there a minimum volume requirement for your OD list?
[Mar 25, 2012 8:26:19 PM EDT]     knucklemonkey    *HOD
[Mar 25, 2012 8:26:39 PM EDT]     knucklemonkey    nevermind you answered as I typed 🙂
[Mar 25, 2012 8:27:31 PM EDT]     InvestorsLive    any further questions related to the HOD list and how we use it before moving on?
[Mar 25, 2012 8:27:39 PM EDT]     ntrades555    im having a hell of a time finding ABCD’s during the day. are they hard to find or am i just looking in the wrong place
[Mar 25, 2012 8:28:10 PM EDT]     InvestorsLive    try logging in IU during the day
[Mar 25, 2012 8:28:15 PM EDT]     InvestorsLive    should solve your problems
[Mar 25, 2012 8:28:23 PM EDT]     chpjes09    😀
[Mar 25, 2012 8:28:48 PM EDT]     InvestorsLive    for real, but on a more serious note PM me ntrades during the day if having trouble I’m here can help
[Mar 25, 2012 8:29:14 PM EDT]     ntrades555    ok
[Mar 25, 2012 8:29:29 PM EDT]     InvestorsLive    QUESTION: Also, I don’t know if this is feasible but could you give us noobs a checklist of some kind to go through before we enter a play to ensure that we’re not being a sucker. I think this would help us develop the correct thought process before every play instead of just buying random stocks. I’m not asking you to give us the exact plays just a thought process to go through before each play, you do this instinctively now since you’ve been trading so long but for me I’m all over the place.
[Mar 25, 2012 8:29:52 PM EDT]     InvestorsLive    ANSWER: 1. What is the range of this stock, is it moving .05-.10, .20-.30 or .50-1.00 within its trends? With that information you can start thinking about position sizing. 2. Is it nearing highs coming off consolidation for a breakout? Is it over extended and starting to parabolic? How does the daily chart look? Long or short biased? 3. Once it starts to move off support or breaks down from support where would you expect to cover?
[Mar 25, 2012 8:30:52 PM EDT]     InvestorsLive    Be patient, if you miss there is always another
[Mar 25, 2012 8:31:15 PM EDT]     ntrades555    nice
[Mar 25, 2012 8:31:43 PM EDT]     InvestorsLive    Especially if you are a noob it’s ok to miss the trade just to understand it
[Mar 25, 2012 8:31:49 PM EDT]     InvestorsLive    don’t underestimate that
[Mar 25, 2012 8:32:05 PM EDT]     InvestorsLive    so many new members just want to be in stuff just to be in and jump in whatever whenever etc
[Mar 25, 2012 8:32:06 PM EDT]     -war-    agree 100%
[Mar 25, 2012 8:32:16 PM EDT]     InvestorsLive    not taking the trade and seeing it and understanding it
[Mar 25, 2012 8:32:29 PM EDT]     InvestorsLive    is sometimes better than trading it ..
[Mar 25, 2012 8:32:33 PM EDT]     InvestorsLive    especially if a newb
[Mar 25, 2012 8:32:34 PM EDT]     ettothree    sometimes the best trade is not
[Mar 25, 2012 8:32:37 PM EDT]     ettothree    ha
[Mar 25, 2012 8:32:37 PM EDT]     sotorious    thats how i think but thank god i dont react.
[Mar 25, 2012 8:32:42 PM EDT]     InvestorsLive    if you see something setting up feel free to PM me I’ll tell you what to think
[Mar 25, 2012 8:32:47 PM EDT]     InvestorsLive    what i think
[Mar 25, 2012 8:32:54 PM EDT]     InvestorsLive    etc just tell me your plan that’s all I ask
[Mar 25, 2012 8:33:00 PM EDT]     InvestorsLive    don’t PM me and say GALE?
[Mar 25, 2012 8:33:03 PM EDT]     InvestorsLive    GALE thoughts?
[Mar 25, 2012 8:33:15 PM EDT]     InvestorsLive    tell me WHAT you SEE, what YOU think, how YOU’D trade it
[Mar 25, 2012 8:33:17 PM EDT]     InvestorsLive    and I will heko
[Mar 25, 2012 8:33:21 PM EDT]     InvestorsLive    help
[Mar 25, 2012 8:33:22 PM EDT]     ettothree    AAPL?
[Mar 25, 2012 8:33:30 PM EDT]     sotorious    x_x
[Mar 25, 2012 8:33:53 PM EDT]     -war-    Don’t jump into a trade just because you get that feeling that you’re missing something because you think that eveyone is smashing it. Just watch it, learn, and maybe you’ll get it next time (imo of course)
[Mar 25, 2012 8:34:42 PM EDT]     EWING1    Question re: position sizing, answer #1 from last question. How does .10 vs. .50 (within it’s range) help you determine sizing? Can you go into that a little more?
[Mar 25, 2012 8:34:59 PM EDT]     InvestorsLive    well if its .10 cent range or .50 cent range
[Mar 25, 2012 8:35:04 PM EDT]     InvestorsLive    you going to trade 5k shares in both?
[Mar 25, 2012 8:35:47 PM EDT]     InvestorsLive    BVSN and MSFT
[Mar 25, 2012 8:35:49 PM EDT]     EWING1    Im thinking I’d trade less $$ with the .50 b/c less isk is needed to make a profit? Am I on it?
[Mar 25, 2012 8:35:54 PM EDT]     EWING1    gotcha.
[Mar 25, 2012 8:36:04 PM EDT]     InvestorsLive    BVSN and MSFT both 30 and change
[Mar 25, 2012 8:36:08 PM EDT]     InvestorsLive    you going to trade them both the same?
[Mar 25, 2012 8:36:14 PM EDT]     Timmay    hell no
[Mar 25, 2012 8:36:17 PM EDT]     rude1    5k .10 1k .50
[Mar 25, 2012 8:36:18 PM EDT]     InvestorsLive    1k BVSN same risk as 1k MSFT?
[Mar 25, 2012 8:36:27 PM EDT]     InvestorsLive    about $32,00 at risk
[Mar 25, 2012 8:36:30 PM EDT]     InvestorsLive    what the difference
[Mar 25, 2012 8:36:44 PM EDT]     InvestorsLive    that’s what position sizing is relative to the range
[Mar 25, 2012 8:36:57 PM EDT]     InvestorsLive    make sense?
[Mar 25, 2012 8:37:21 PM EDT]     dmrusoff    biigger the range, possible bigger move against you?
[Mar 25, 2012 8:37:37 PM EDT]     Laura    of course
[Mar 25, 2012 8:37:41 PM EDT]     ntrades555    yes
[Mar 25, 2012 8:37:41 PM EDT]     Ironman    one will move $3-$4 or more against you, the othe ryou can prob use a .05-.10 stop loss at most
[Mar 25, 2012 8:38:20 PM EDT]     InvestorsLive    right, that’s what posistion sizing is all about
[Mar 25, 2012 8:38:24 PM EDT]     InvestorsLive    relative to the risk at hand
[Mar 25, 2012 8:38:28 PM EDT]     InvestorsLive    aka the range
[Mar 25, 2012 8:38:28 PM EDT]     Laura    but when you find ones with big range, doesn’t mean not a play, just watch out on the riskier ones
[Mar 25, 2012 8:38:31 PM EDT]     EWING1    Ok, so that’s why doing your homework and being familiar with the stock’s is so important…
[Mar 25, 2012 8:38:52 PM EDT]     InvestorsLive    you don’t really need to do homework to figure that out
[Mar 25, 2012 8:38:54 PM EDT]     InvestorsLive    just pull up the chart
[Mar 25, 2012 8:38:59 PM EDT]     InvestorsLive    but yea, homework helps too
[Mar 25, 2012 8:39:10 PM EDT]     Laura    I swung KORS for over a month, but thing is, I’ve noticed it has great intraday range
[Mar 25, 2012 8:39:15 PM EDT]     InvestorsLive    that should just be second hand if you spend any time in the markets
[Mar 25, 2012 8:39:27 PM EDT]     EWING1    ok thanks.
[Mar 25, 2012 8:39:28 PM EDT]     Laura    goes up a buck, down a buck several times a day
[Mar 25, 2012 8:39:52 PM EDT]     ettothree    ATR is big
[Mar 25, 2012 8:39:53 PM EDT]     -war-    Laura, do you keep a core position, and scalp intraday?
[Mar 25, 2012 8:40:01 PM EDT]     Ironman    ewing tomorrow have a chart of BAC up all day and then a chart of say SINA…….see i fu can see the difference. if you can not. stop trading real money for now lol
[Mar 25, 2012 8:40:03 PM EDT]     Laura    no, but i should
[Mar 25, 2012 8:40:08 PM EDT]     -war-    k
[Mar 25, 2012 8:41:03 PM EDT]     InvestorsLive    QUESTION: Can you explain how you often predict that a stocks going to gap and rip or open weak and test R/G I’ve been studying your watch lists and I cant figure out the pattern, the commonality of how you accurately do this all the time. I’m often long biased when you’re short and vs. versus, I’m losing money and your making money so it must be something wrong with my thought process while charting. I know how to recognize the basic support/resistance, recognize a potential breakout and getting better with over extended charts but that’s about it.
[Mar 25, 2012 8:41:23 PM EDT]     InvestorsLive    ANSWER: I just look at the chart, candles etc and have a plan for each so I can react if one or the other happens. Typically I would only play a gap on OTCs since if the markets crash it’ll have no impact on an OTC but will on a Nasdaq over night. Typically it’s just momentum carrying over that’s where I get my bias from, if it closed strong usually people don’t want to miss a move, see a stock go up big, read the message boards everyone says its going to the moon and it carries over into the morning and surges. Depending whether or not its overextended (ie: straight up without a correction) or a strong chart just breaking off support levels higher will aide my judgment as to whether or not I want to short it to buy weakness. This part is determined on the daily chart.
[Mar 25, 2012 8:42:05 PM EDT]     InvestorsLive    typically…
[Mar 25, 2012 8:42:14 PM EDT]     InvestorsLive    over extended charts I’m looking for a gap and parabolic for short
[Mar 25, 2012 8:42:16 PM EDT]     InvestorsLive    but
[Mar 25, 2012 8:42:23 PM EDT]     InvestorsLive    nice charts coming off consolidation
[Mar 25, 2012 8:42:29 PM EDT]     InvestorsLive    take GLUU for example on scan for tomorrow
[Mar 25, 2012 8:42:33 PM EDT]     InvestorsLive    or AFFY last week
[Mar 25, 2012 8:42:43 PM EDT]     InvestorsLive    that have been consolidating for weeks and nearing breakout or prior highs
[Mar 25, 2012 8:42:56 PM EDT]     InvestorsLive    then……. I get long biased but want a weak open … and red/green
[Mar 25, 2012 8:43:04 PM EDT]     InvestorsLive    or if it gaps up .. watch a pull and a perk off consolidation
[Mar 25, 2012 8:43:08 PM EDT]     InvestorsLive    b/c chart supports a move
[Mar 25, 2012 8:43:22 PM EDT]     InvestorsLive    any questions related on r/g type stuff?
[Mar 25, 2012 8:43:30 PM EDT]     InvestorsLive    one other note re: r/g I mention it all the time…
[Mar 25, 2012 8:43:34 PM EDT]     InvestorsLive    this is related to STOCKS IN PLAY
[Mar 25, 2012 8:43:44 PM EDT]     InvestorsLive    not just some random .. hey MSFT went green on day its up .02 now
[Mar 25, 2012 8:43:58 PM EDT]     InvestorsLive    GALE .. we care about tomorrow if it consolidates all day and it’s red
[Mar 25, 2012 8:44:02 PM EDT]     InvestorsLive    and at 3PM it goes red/green
[Mar 25, 2012 8:44:04 PM EDT]     InvestorsLive    cuz its IN PLAY
[Mar 25, 2012 8:44:35 PM EDT]     InvestorsLive    we care about green/red and red/green when a stock has RANGE
[Mar 25, 2012 8:44:45 PM EDT]     InvestorsLive    given that we play HIGH DAILY RANGE stocks
[Mar 25, 2012 8:45:02 PM EDT]     InvestorsLive    SHLD sure thing, I’m interested b/c higher than normal range right now
[Mar 25, 2012 8:45:18 PM EDT]     CrackerJack    I’m not a r/g trader, but you are basically looking for consol around r/g then buy/sell on price action? correct
[Mar 25, 2012 8:45:32 PM EDT]     ntrades555    so your not only looking at the 3-6 month chart at night your looking at the 1 minute as well to see if it closed with momo or not
[Mar 25, 2012 8:46:19 PM EDT]     InvestorsLive    Cracker – personally I like consolidate just sub of green on day on a stock in play, and would long the perk w/ vol any day especially if a whole number break
[Mar 25, 2012 8:46:24 PM EDT]     InvestorsLive    the more you can couple it with the better
[Mar 25, 2012 8:46:41 PM EDT]     InvestorsLive    ntrade – no I don’t look at 1 min charts at night
[Mar 25, 2012 8:47:35 PM EDT]     ntrades555    may be a stupid ? but how do you know if it closed strong then?
[Mar 25, 2012 8:47:53 PM EDT]     InvestorsLive    if it closes at HODs
[Mar 25, 2012 8:47:55 PM EDT]     InvestorsLive    near it
[Mar 25, 2012 8:48:00 PM EDT]     InvestorsLive    just look at candle on daily chart
[Mar 25, 2012 8:48:14 PM EDT]     ntrades555    ohh got cha
[Mar 25, 2012 8:48:19 PM EDT]     InvestorsLive    QUESTION: You talk a lot of risk/reward being in your favor. I understand how to determine my risk on a given trade, but how do we game plan or pre determine a reward area? Is there a way to tell if a trade I’m about to enter has a reward:risk of 1:1 or 3:1?
[Mar 25, 2012 8:48:30 PM EDT]     InvestorsLive    ANSWER: Usually I play before breaks, gearing/perking .50 break/whole number break chart break which typically brings some momentum with it … so risk (based on the range and how far off support) vs. the reward (ie: if it were to break and that range were to speed up) .. so if a stock lets say tops at $5 on Monday pulls back fast to $4.60s and consolidates through the week and Wednesday or Thursday we see it up on the day a dime with a range of .10 or so … I would go with the thought that if $4.75-80s break the thought process will be $5 break coming and thus risking .10 cents for possible .20-.25+ upside and a breakout if $5 pops = .25-50+ vs .10 risk.
[Mar 25, 2012 8:50:32 PM EDT]     CrackerJack    I scale in and out, are you scaling in on a pull lower on your example then wait for the perk then add to full?
[Mar 25, 2012 8:51:59 PM EDT]     InvestorsLive    on the last example? if vol came in I’d long in the .75-80 range 1/2 size give it some range if it pulls but holds trends and starts to go again I may add … if I’m in 1/2 size and it starts to go I may just ride it out
[Mar 25, 2012 8:52:09 PM EDT]     InvestorsLive    I don’t add randomly has to prove itself to add
[Mar 25, 2012 8:52:43 PM EDT]     InvestorsLive    the whole goal w/ going in a partial is if I have to add I’m not “averaging down” to something I don’t want to be in, or if I am going in full size it’s b/c it’s working and have houses money working for me
[Mar 25, 2012 8:53:16 PM EDT]     CrackerJack    so you are typically adding full just below the breakout
[Mar 25, 2012 8:53:46 PM EDT]     CrackerJack    with it holding trend and momo coming in of course
[Mar 25, 2012 8:53:47 PM EDT]     InvestorsLive    if it looks like it is about go to many times yes and sell it immediatley into the pop
[Mar 25, 2012 8:53:52 PM EDT]     InvestorsLive    to lock in some realized and ride the rest with a padding
[Mar 25, 2012 8:53:58 PM EDT]     2ndTimeAround    And with scaling, brokers follow the first-in, first-out rule?
[Mar 25, 2012 8:54:15 PM EDT]     InvestorsLive    2nd – you’re focusing on things that don’t matter
[Mar 25, 2012 8:54:22 PM EDT]     InvestorsLive    don’t over think the trade
[Mar 25, 2012 8:54:28 PM EDT]     CrackerJack    FIFO is just accounting, that’s it
[Mar 25, 2012 8:54:39 PM EDT]     InvestorsLive    if you’re in and out on hte same day what’s it matter
[Mar 25, 2012 8:54:55 PM EDT]     InvestorsLive    if you’re in and out in the quarter or year, what’s it matter
[Mar 25, 2012 8:55:03 PM EDT]     ettothree    do you set target sell orders attached to your buy orders?
[Mar 25, 2012 8:55:27 PM EDT]     InvestorsLive    I put a sell in where I think it’ll pop to
[Mar 25, 2012 8:55:39 PM EDT]     InvestorsLive    .04 or .09s on a whole number break if I am in full size
[Mar 25, 2012 8:55:40 PM EDT]     ettothree    k
[Mar 25, 2012 8:55:40 PM EDT]     InvestorsLive    lock in 1/2
[Mar 25, 2012 8:55:44 PM EDT]     InvestorsLive    etc
[Mar 25, 2012 8:56:17 PM EDT]     CrackerJack    exactly. Bottom line, you need to know where you are willing to buy and sell ahead of time, not after you are in
[Mar 25, 2012 8:56:34 PM EDT]     InvestorsLive    You’re not going to have that on day one but you will learn AND
[Mar 25, 2012 8:56:40 PM EDT]     InvestorsLive    my trading isn’t for everyone
[Mar 25, 2012 8:56:45 PM EDT]     InvestorsLive    I play bigger and sell quicker
[Mar 25, 2012 8:56:53 PM EDT]     InvestorsLive    I might make same as someone playing smaller and holding longer
[Mar 25, 2012 8:57:12 PM EDT]     InvestorsLive    but I tried the other way I’m not patient I am good at what I do, and I stick to that, when I venture away … I %%% up
[Mar 25, 2012 8:57:24 PM EDT]     CrackerJack    lol….same here
[Mar 25, 2012 8:57:26 PM EDT]     InvestorsLive    QUESTION: I have 3 related questions main (and multiple sub questions) about how to work a trade. These are probably reasons I keep on losing money.
[Mar 25, 2012 8:57:30 PM EDT]     InvestorsLive    1.) How you set the stop limit for trades? a. Do you use immediately last support/break out level? b. Do you use an interday support level or dollar point? c. How do you exactly determine how wide your stop should be? Say for example on JIVE s/s how high was your stop?
[Mar 25, 2012 8:57:42 PM EDT]     InvestorsLive    ANSWER:
[Mar 25, 2012 8:57:45 PM EDT]     InvestorsLive    a) a) I would suggest reviewing the seminar suggested for today called “How to trade the chat room” I don’t use stop losses, if you use a stop limit it varies for each brokers I would suggest contacting your broker to find out how to set a stop. I don’t use stop limits, I use mental stops so that a penny or two doesn’t take me out and I can make a decision based on a) my day and b) the market as a whole.
[Mar 25, 2012 8:58:01 PM EDT]     InvestorsLive    b) I usually would stop if it breaks trend if long (that’s why I long with a mental stop idea if trend breaks), or if it starts to slowly gear higher towards a HOD I’d take off.
[Mar 25, 2012 8:58:21 PM EDT]     InvestorsLive    c) JIVE as I said as soon as I got in I was in 1/3 size and a very wide stop to 52 week highs since I was thinking about swinging it and WORKING INTO the short given the chart. If I’m in 500 shares on a stock that trades .50-.75 swings than I’m not going to trade 3-5k shares. That’s why I say these things in chat upon entry even though many don’t always read them (which I’ve started to call selective reading)
[Mar 25, 2012 9:00:10 PM EDT]     InvestorsLive    more Q’s
[Mar 25, 2012 9:00:11 PM EDT]     InvestorsLive    2.) How do you scale in (or add size) to your trade from small size to full size? For this let look at that SYNC long from Thursday. a. When entered initially around 7.50s/7.40s should have used 10% size? b. When it slipped to 7.20s, was the time go to full size like some ppl in chat did? c. Or did wait till rebound to 7.30s to actually 100% size?
[Mar 25, 2012 9:00:29 PM EDT]     InvestorsLive    a) I don’t usually go in 1/10th of a position that seems a bit wild, I usually would go max 1/5 size if I want 5k shares and start with 1k etc but given that SYNC first entry was a chase (a CHASE as stated) as I mentioned to start the seminar it’s best to take a partial in case a quick pull back so that you’re not down and out but rather can add and continue to use the same support area as the risk/reward. b) 7.20s was the area I had mentioned was the bottom end of the range $7.20-$7.50 the time to add was a perk off consolidation which was around .30 when the volume came in and trend reversal, then typically if I am down I go back to my initial size as soon as I break even or have a profit. c) Gearing/perking I usually wait for, what happens if 7.20s tested and it broke and faded to $7?
[Mar 25, 2012 9:01:04 PM EDT]     sfk10    so you would wait till it went back to 7.30s to add?
[Mar 25, 2012 9:01:40 PM EDT]     InvestorsLive    you need it to let it prove itself
[Mar 25, 2012 9:01:55 PM EDT]     InvestorsLive    you don’t want to buy a stock that pulls back and doesn’t show any signs of recovery
[Mar 25, 2012 9:02:22 PM EDT]     InvestorsLive    last question from same person and realted to that SYNC
[Mar 25, 2012 9:02:24 PM EDT]     InvestorsLive    3.) How do you gradually cover profits (scale out of trade)? Lets look at SYNC again a. Did sell some longs in 7.40s? b. Did you just wait for rebound to 7.50s to sell 100% of it off? c. Would hold on to any shares (say 10%) after rebound to 7.54s to see if it could go higher? Or just take all the profits then?
[Mar 25, 2012 9:02:36 PM EDT]     InvestorsLive    ANSWER: a-c) I sold into the pop given it basically ran from 7.2 to 7.55 in only a few candles if it was a slow and gradual move I would have held it a bit longer but USUALLY a move that fast is met with a pull back, consolidation and then continues on. It all depends on the trade, just like I suggest waiting for a quick pull before buying because usually a fast pop is followed by a quick pull and consolidation, I would suggest doing just the same on the sell side, sell some into the quick pop and ride rest.
[Mar 25, 2012 9:04:10 PM EDT]     sfk10    ok thanks for answers IL!
[Mar 25, 2012 9:04:14 PM EDT]     InvestorsLive    QUESTION: Question for the seminar: I often see people refer to a stock being “oversold” or “overbought”. What technical indicators are used to determine if a stock is either of these two conditions? I am scouring the website but would appreciate any direction in locating the resources to learn these things.
[Mar 25, 2012 9:04:14 PM EDT]     CrackerJack    something to note. Its ok to take break even if your plan isn’t panning out. I do that all the time. I can always get back in if it sets up
[Mar 25, 2012 9:04:24 PM EDT]     InvestorsLive    yep
[Mar 25, 2012 9:04:33 PM EDT]     InvestorsLive    ANSWER: These mean different things to different people, I use oversold thinking it’s way too beat down and over bought thinking it’s up way too much and over extended but some definition are the exact opposite. Typically I refer to a beat down stock as ‘beat’ and so does Muddy, a stock that I feel is over bought ie: way too high, in need of a correction in my eyes = over extended.
[Mar 25, 2012 9:05:34 PM EDT]     InvestorsLive    QUESTION: Question for the seminar: I watched you nail the BVSN bounce around $35 the other day as it was collapsing and ride it up $1 or so. The timing was very good and when I see you alert BOUNCE PLAYERS, I wonder what specific technical indicators you are watching to determine when to buy for the quick scalp on the bounce. How do you know it is time? I often THINK I am ready to buy he dip and play the bounce only to see it drop much further.
[Mar 25, 2012 9:06:23 PM EDT]     InvestorsLive    ANSWER: I alert bounce players for those who aren’t watching and know how to play a bounce – just in case they weren’t watching. I usually say “heads up bounce players” especially in OTC land where I wait for any washouts, similarly on NASDAQ. Many times I may not pull up a ticker like BVSN just because someone post it, or CCTC NEOM etc, but if they say “bounce watch” I will pull it up and check b/c at this point in the chat everyone knows what I’m looking for on a ‘bounce worthy’ stock.
[Mar 25, 2012 9:07:14 PM EDT]     InvestorsLive    As far as when it’s time, common question – as we’ve discussed the last 2-3 seminars it takes time, doesn’t happen over night but over time you’ll get used to how things fade, drop and start to washout under support only to bounce right back over and if you’re not on the panic side buying there’s no way you fill until it’s already bounced a bit. I wouldn’t suggest buying dips unless 1. You’re familiar with them and 2. If you do, only if you nail the bottom if you find yourself buying after it dips chances are I and others are already on the sell side given the risk and quickness of the trade.
[Mar 25, 2012 9:08:16 PM EDT]     InvestorsLive    Any questions related to this? I just write “bounce players heads up” as I appreciate those who know a good washout and know what I am looking for .. if I’m not seeing it ….
[Mar 25, 2012 9:08:21 PM EDT]     InvestorsLive    I always appreciate when others mention
[Mar 25, 2012 9:08:26 PM EDT]     knucklemonkey    no no technicals indicators, just “mojo”
[Mar 25, 2012 9:08:40 PM EDT]     InvestorsLive    ie: CCTC wasn’t really watched it but -war had mentioned last week when it was coming down
[Mar 25, 2012 9:08:55 PM EDT]     InvestorsLive    so put it on radar and we banked after starting to stalk it
[Mar 25, 2012 9:09:12 PM EDT]     CrackerJack    very true. Remember, stocks take the elevator down and stairs up.
[Mar 25, 2012 9:09:16 PM EDT]     InvestorsLive    once it’s bounce worthy and radarable … I’ll do the rest and figure out the bottom but always nice to have eyes for the washouts
[Mar 25, 2012 9:09:38 PM EDT]     InvestorsLive    QUESTION: Is there always a way out when a stock it’s crashing or crashed? Can you ever get stuck with shares an never not sell them?
[Mar 25, 2012 9:09:44 PM EDT]     InvestorsLive    ANSWER: You could get stuck in a stock getting delisted or deleted but beyond that not real sure, I wouldn’t want to find out the answer! TIP: Don’t put yourself in a position to find out!]
[Mar 25, 2012 9:10:35 PM EDT]     sotorious    noted
[Mar 25, 2012 9:10:57 PM EDT]     GaryJPalys    I went to zero with CIT when I didn’t realize they were coming out of bankruptcy… Tuaght me a lot…LOL
[Mar 25, 2012 9:11:06 PM EDT]     InvestorsLive    QUESTION: Can you explain how you use volume when shorting stocks? Are there different volume clues to look for in a parabolic move compared to a fader?
[Mar 25, 2012 9:11:18 PM EDT]     InvestorsLive    ANSWER: Usually in the AM I look for an over extended parabolic chart to gap up and push fast in the AM once I see a bunch of vol hit with little price movement I may START in to see if the pull back is supported – USUALLY the first one is and either a) it breaks through prior high (thankful to be in a starter) or b) it puts in a lower high in which case I can start to average in and use the HOD as a guide for my risk
[Mar 25, 2012 9:12:07 PM EDT]     InvestorsLive    any questions related to this?
[Mar 25, 2012 9:12:37 PM EDT]     daveB    any volume tips for fade shorts
[Mar 25, 2012 9:12:38 PM EDT]     abulloch    [Question to ask if you get stuck in a crashed stock: ‘is my money best left where it is or is an increase more likely somewhere else?’ Don’t look at the amount you lost (past) but only at (future) possibilities of increase.
[Mar 25, 2012 9:13:24 PM EDT]     InvestorsLive    daveB – re: fades just look for late day support to crack is about it
[Mar 25, 2012 9:13:28 PM EDT]     heysierraa    dammit i took a nap and missed 8pm 🙁
[Mar 25, 2012 9:13:55 PM EDT]     daveB    gotcha thx
[Mar 25, 2012 9:14:01 PM EDT]     InvestorsLive    QUESTION: I have been trying different settings at Finviz… What settings do you use for your accumulation scans? Maybe they are not even done at Finviz?
[Mar 25, 2012 9:14:08 PM EDT]     InvestorsLive    ANSWER: http://finviz.com/screener.ashx?v=311&f=ta_averagetruerange_o0.25,ta_change_u,ta_changeopen_u,ta_pattern_horizontal,ta_perf_dup,ta_perf2_d5o,ta_volatility_wo5&ft=3&ta=0&o=-volume
[Mar 25, 2012 9:14:24 PM EDT]     InvestorsLive    they choices are highlighted that’s all I’ve been using, sometimes our tools go away – I LOVED stockhouse
[Mar 25, 2012 9:14:36 PM EDT]     InvestorsLive    but they sux, wrote back to my support emails and … just nothing since
[Mar 25, 2012 9:14:39 PM EDT]     InvestorsLive    they said they were working on it
[Mar 25, 2012 9:14:57 PM EDT]     ettothree    nice thanks for that
[Mar 25, 2012 9:14:59 PM EDT]     InvestorsLive    but finviz has been pretty profitable giving us nice scans
[Mar 25, 2012 9:15:03 PM EDT]     InvestorsLive    so I’m not worrieda bout i t
[Mar 25, 2012 9:15:17 PM EDT]     ettothree    love finviz
[Mar 25, 2012 9:15:19 PM EDT]     InvestorsLive    typically sub 750k shares or so I ignore on htat
[Mar 25, 2012 9:15:27 PM EDT]     InvestorsLive    1m+ I’m interested
[Mar 25, 2012 9:15:42 PM EDT]     InvestorsLive    QUESTION: When approaching a parabolic in which the price action is relatively atypical, what are indicators that one can observe to determine entry points. Exits are only hindered by greed, assured by certainty, or extenuated through false pretensions of hope, but entry points are the key to the most efficient and effective trade. You speak of instinct in such trades, but instinct is a preconditioned response to an external stimuli. What are the stimuli and how can we learn to observe them more effectively?
[Mar 25, 2012 9:15:52 PM EDT]     InvestorsLive    ANSWER: WTF
[Mar 25, 2012 9:16:13 PM EDT]     Vegita    lol
[Mar 25, 2012 9:16:14 PM EDT]     rude1    was that reaper?
[Mar 25, 2012 9:16:21 PM EDT]     InvestorsLive    ANSWER: %%% sake, I would suggest to first put down the textbook and not try to apply philosophy to trading. Quite simply, on a parabolic move I put myself on the other side of the trade thinking if I were short now where would I panic, if I were long where would I sell into the parabolic … and if I’m sidelines I think about shorting into that. Anything which is parabolic relative to prior price action.
[Mar 25, 2012 9:16:44 PM EDT]     Timmay    lol
[Mar 25, 2012 9:17:03 PM EDT]     InvestorsLive    my honest opinion is this person may be too smart to trade
[Mar 25, 2012 9:17:06 PM EDT]     InvestorsLive    I had to look a few words up
[Mar 25, 2012 9:17:07 PM EDT]     Manakukahi    lol
[Mar 25, 2012 9:17:12 PM EDT]     chpjes09    lmfao
[Mar 25, 2012 9:17:15 PM EDT]     sotorious    lmao
[Mar 25, 2012 9:17:16 PM EDT]     EWING1    LOL
[Mar 25, 2012 9:17:20 PM EDT]     heysierraa    rofl
[Mar 25, 2012 9:17:26 PM EDT]     chpjes09    im cryin
[Mar 25, 2012 9:18:08 PM EDT]     ettothree    haha, better suited in a lab
[Mar 25, 2012 9:18:13 PM EDT]     CrackerJack    something that I keep in mind when I short is stocks have a tendancy to pull or rise about 1pt from hi or low and will pause. Look at a ton of intraday charts and you will see. Lower price stocks look at .50c and .25c moves
[Mar 25, 2012 9:18:29 PM EDT]     Csegovia02    haha
[Mar 25, 2012 9:18:34 PM EDT]     heysierraa    Question: When do you know wether to add to your position or take losses? Does it have to do with the trading range/trend?
[Mar 25, 2012 9:19:33 PM EDT]     InvestorsLive    QUESTION: This isn’t a good question but I just wanted to learn a little more about you. What got you interested in day trading? How long did it take you to trade profitably and become a full time trader? Do you think with hard work there’s a chance noobs just starting out can become at least half as good as you? Just want to know a little more about you and your mindset since Ive never known a daytrader as successful as yourself. Thx btw if you’re not comfortable talking about yourself just go ahead and skip this question since there are much better ones to get to.
[Mar 25, 2012 9:19:54 PM EDT]     InvestorsLive    I went up down up down up down for about 6 months
[Mar 25, 2012 9:20:04 PM EDT]     InvestorsLive    during that time I came to a realization that I was actually a good trader
[Mar 25, 2012 9:20:21 PM EDT]     InvestorsLive    but the reason I was losing is because I was a sheep/koolaid drinking investor
[Mar 25, 2012 9:20:27 PM EDT]     InvestorsLive    I was the guy reading the SNPK emails we laugh about today
[Mar 25, 2012 9:20:37 PM EDT]     InvestorsLive    and believing every word
[Mar 25, 2012 9:20:49 PM EDT]     InvestorsLive    and all the $$ I made trade was slowly dwindling down
[Mar 25, 2012 9:20:56 PM EDT]     InvestorsLive    in my holdings
[Mar 25, 2012 9:21:04 PM EDT]     InvestorsLive    cuz I was too stubborn to sell ’em
[Mar 25, 2012 9:21:16 PM EDT]     jonthegreek1    sorry to ask this but about how many penny pic promos happen in a year? every two months?
[Mar 25, 2012 9:21:25 PM EDT]     InvestorsLive    so once I figured that out I cut it out for a long while
[Mar 25, 2012 9:21:54 PM EDT]     InvestorsLive    my honest opinion is don’t worry about me or hwat I do or getting to 1/2 me or 1/4 me or double me
[Mar 25, 2012 9:21:59 PM EDT]     InvestorsLive    concentrate on making GOOD trades
[Mar 25, 2012 9:22:07 PM EDT]     InvestorsLive    work on making GOOD trades and PROFITS follow
[Mar 25, 2012 9:22:17 PM EDT]     heysierraa    i came to that realization ^ yesterday
[Mar 25, 2012 9:22:17 PM EDT]     InvestorsLive    whenever you worry or compare yourself to others it does nothing for YOU
[Mar 25, 2012 9:22:22 PM EDT]     InvestorsLive    focus on YOUR trades
[Mar 25, 2012 9:22:25 PM EDT]     InvestorsLive    YOURSELF
[Mar 25, 2012 9:22:27 PM EDT]     InvestorsLive    not others
[Mar 25, 2012 9:22:55 PM EDT]     InvestorsLive    I used to do that too and I’d constantly compare myself to others
[Mar 25, 2012 9:23:04 PM EDT]     InvestorsLive    and say well he did it… I can do etc
[Mar 25, 2012 9:23:10 PM EDT]     InvestorsLive    sure .. I can do it but it never helped me
[Mar 25, 2012 9:23:16 PM EDT]     InvestorsLive    taking profits and focusing on what I am good at
[Mar 25, 2012 9:23:20 PM EDT]     InvestorsLive    is what got me to where I am
[Mar 25, 2012 9:23:30 PM EDT]     InvestorsLive    not focusing on what someone else did
[Mar 25, 2012 9:23:36 PM EDT]     InvestorsLive    the important part is to take the strategy …
[Mar 25, 2012 9:23:41 PM EDT]     InvestorsLive    its scalable
[Mar 25, 2012 9:23:43 PM EDT]     InvestorsLive    on any levle
[Mar 25, 2012 9:23:44 PM EDT]     InvestorsLive    level
[Mar 25, 2012 9:24:15 PM EDT]     Laura    I trade diff than Nate, but I never compare myself to him
[Mar 25, 2012 9:24:20 PM EDT]     Laura    It’s just me
[Mar 25, 2012 9:24:29 PM EDT]     Laura    or me and Mudd 🙂
[Mar 25, 2012 9:24:33 PM EDT]     InvestorsLive    L put some clothers on
[Mar 25, 2012 9:24:36 PM EDT]     InvestorsLive    clothes
[Mar 25, 2012 9:24:58 PM EDT]     Timmay    which L are you talking to?
[Mar 25, 2012 9:25:05 PM EDT]     InvestorsLive    lol
[Mar 25, 2012 9:25:06 PM EDT]     Laura    oops, can’t find the right dress
[Mar 25, 2012 9:25:11 PM EDT]     InvestorsLive    there u go
[Mar 25, 2012 9:25:35 PM EDT]     Laura    prolly his L since I really do have clothes on
[Mar 25, 2012 9:25:41 PM EDT]     Laura    Nate, you pervert
[Mar 25, 2012 9:25:54 PM EDT]     InvestorsLive    lol
[Mar 25, 2012 9:26:10 PM EDT]     Laura    truly tho, what are the odds that we have the same name?
[Mar 25, 2012 9:26:13 PM EDT]     Laura    weird
[Mar 25, 2012 9:26:32 PM EDT]     InvestorsLive    both great!
[Mar 25, 2012 9:26:39 PM EDT]     Laura    weeeeeeeeeeeeeeeee!
[Mar 25, 2012 9:26:45 PM EDT]     InvestorsLive    last question just came in
[Mar 25, 2012 9:26:48 PM EDT]     EWING1    Nate, to gauge profits, some traders create targets for specific daily % gains for themselves, say between 2-10% on their total capital that is in their account. Do you? Or have you found that it’s worth watching for a trend within your acct to help you minimize unecessary trades?
[Mar 25, 2012 9:26:57 PM EDT]     InvestorsLive    QUESTION: How can I leave a review for IU ?
[Mar 25, 2012 9:27:02 PM EDT]     InvestorsLive    ANSWER: http://investimonials.com/websites/reviews-investors-underground-live-trading-chatroom.aspx
[Mar 25, 2012 9:27:17 PM EDT]     ettothree    doubt that was a q, lol
[Mar 25, 2012 9:27:24 PM EDT]     InvestorsLive    QUESTION: BUT I really want to leave one for your twitter handle, how can I do that??
[Mar 25, 2012 9:27:27 PM EDT]     InvestorsLive    ANSWER: http://investimonials.com/twitter/reviews-twitter-investorslive.aspx
[Mar 25, 2012 9:27:51 PM EDT]     karen99    i concentrate on my trades. If i make 10 trades, and 9 are profitable. i had a good day. i know the money will follow. that is my strategy.
[Mar 25, 2012 9:28:05 PM EDT]     InvestorsLive    ettothree – sounds like a newbie comment
[Mar 25, 2012 9:28:14 PM EDT]     InvestorsLive    doubt that was a real comment
[Mar 25, 2012 9:28:28 PM EDT]     InvestorsLive    we get the same questions at teh end of EVERY seminar
[Mar 25, 2012 9:28:28 PM EDT]     jonthegreek1    ettothree I asked the question lol
[Mar 25, 2012 9:28:35 PM EDT]     InvestorsLive    same person ask every time
[Mar 25, 2012 9:28:49 PM EDT]     InvestorsLive    EWING – I don’t do “%” I do $$
[Mar 25, 2012 9:29:03 PM EDT]     InvestorsLive    when I gauge risk vs. reward
[Mar 25, 2012 9:29:06 PM EDT]     CrackerJack    does IB auto route Pink, OTC’s to NITE and ARCA or can you pref and use others like you can with Speed?
[Mar 25, 2012 9:29:11 PM EDT]     InvestorsLive    and I don’t pay attention to $$ at risk
[Mar 25, 2012 9:29:21 PM EDT]     Laura    bank doesn’t take %%%, it likes your $$$$
[Mar 25, 2012 9:29:22 PM EDT]     InvestorsLive    I pay attention to 3k shares = .15 risk … 1k shares = .50 risk etc
[Mar 25, 2012 9:29:28 PM EDT]     InvestorsLive    whether its $3 dollar stock or $50
[Mar 25, 2012 9:29:42 PM EDT]     knucklemonkey    Do you suscribe to finviz.com’s ELITE package?
[Mar 25, 2012 9:29:43 PM EDT]     EWING1    Ok. Thats good to know.
[Mar 25, 2012 9:29:46 PM EDT]     InvestorsLive    I’m not focused on $3000 vs 100k in hte market
[Mar 25, 2012 9:29:54 PM EDT]     InvestorsLive    knuckle – no
[Mar 25, 2012 9:30:14 PM EDT]     InvestorsLive    Cracker – if ARCA is avail u can pick that but typically it’s NITE most of the time
[Mar 25, 2012 9:31:43 PM EDT]     CrackerJack    so IB can route Pinks, OTC like Speed? The reason I ask is I am easing into OTC/Pinks for shorts and need another broker to put $ with best borrow’s
[Mar 25, 2012 9:31:49 PM EDT]     GaryJPalys    Nate, do you think SpeedTrader will ever connect with EquityFeed? Probably not because of their proprietary DAS Trader Pro?
[Mar 25, 2012 9:32:38 PM EDT]     InvestorsLive    Gary – I don’t know
[Mar 25, 2012 9:32:39 PM EDT]     InvestorsLive    I hope notw
[Mar 25, 2012 9:32:42 PM EDT]     InvestorsLive    not
[Mar 25, 2012 9:32:45 PM EDT]     InvestorsLive    would be pointless
[Mar 25, 2012 9:32:51 PM EDT]     InvestorsLive    DAS is the shizzit
[Mar 25, 2012 9:32:57 PM EDT]     GaryJPalys    Thanks
[Mar 25, 2012 9:33:22 PM EDT]     InvestorsLive    Cracker – IB is best for Pinky borrows overall – I hardly short them theres just too much going on
[Mar 25, 2012 9:33:30 PM EDT]     InvestorsLive    I’d focus less on that unless you’re going to park $250k there
[Mar 25, 2012 9:33:38 PM EDT]     InvestorsLive    given the $2.50/share min
[Mar 25, 2012 9:33:41 PM EDT]     InvestorsLive    for the cheapies
[Mar 25, 2012 9:34:06 PM EDT]     CrackerJack    I will transfer 26k to them to join the OTC/Pink game
[Mar 25, 2012 9:34:36 PM EDT]     InvestorsLive    if it makes sense
[Mar 25, 2012 9:34:47 PM EDT]     InvestorsLive    I haven’t used IB in months
[Mar 25, 2012 9:35:01 PM EDT]     sotorious    shorting stocks just turn my brain into a knot
[Mar 25, 2012 9:35:05 PM EDT]     CrackerJack    I’m thinking 26k IB for access to good borrow’s NAZ, Pink/OTC and 5k with Sure for long OTC’s and your 4.95 for 10k/share deal
[Mar 25, 2012 9:35:08 PM EDT]     rude1    there borrows have been horrible last 6 months
[Mar 25, 2012 9:35:30 PM EDT]     InvestorsLive    any other questions guys?
[Mar 25, 2012 9:35:36 PM EDT]     ettothree    do you trade any options?
[Mar 25, 2012 9:35:42 PM EDT]     InvestorsLive    %%% options lol
[Mar 25, 2012 9:35:47 PM EDT]     InvestorsLive    I did really well intraday
[Mar 25, 2012 9:35:53 PM EDT]     InvestorsLive    but pissed away lots of AAPL
[Mar 25, 2012 9:36:04 PM EDT]     rude1    you use options on tanks
[Mar 25, 2012 9:36:05 PM EDT]     Vegita    This week I had 2 trades going at the same time. The market moves at the same time. One was going for me. One was going against me. What is your recommendation when this happens (and other permutations of for/for against/against)?
[Mar 25, 2012 9:36:16 PM EDT]     Robyn    did you build up to trading the size that you do?
[Mar 25, 2012 9:36:25 PM EDT]     InvestorsLive    just stick with your original plan Vegita
[Mar 25, 2012 9:36:27 PM EDT]     InvestorsLive    no reason to change
[Mar 25, 2012 9:36:31 PM EDT]     InvestorsLive    that’s why you made the original plan
[Mar 25, 2012 9:36:47 PM EDT]     InvestorsLive    if you realize the gainer and want to risk houses money on the day to be right, feel free to do so
[Mar 25, 2012 9:36:58 PM EDT]     InvestorsLive    but don’t count an unrealized gain as a win until its in the bank
[Mar 25, 2012 9:37:01 PM EDT]     sotorious    When you say have a plan on entering a stock. Just to see if we are on the same page. Just to know where to cut your loses and to know where to take the profits
[Mar 25, 2012 9:37:26 PM EDT]     sonic    Q: Nate, I generally trade non-marginable stocks, have well over pdt 25k in my account – lately, i’m having issues with settled funds especially when adding onto my positions…any suggestions on how to not have to take days off of trading other than having more money in my account?
[Mar 25, 2012 9:37:35 PM EDT]     InvestorsLive    sotorious – like my scan tonight I have a plan on all those stocks – if I see action on any of them I’m familiar and prepared for tomorrow
[Mar 25, 2012 9:37:58 PM EDT]     InvestorsLive    sonic- you probably don’t have margin
[Mar 25, 2012 9:38:12 PM EDT]     sotorious    oo ok so i guess lets say you have a hope one of those stocks take that direction, if they do you are game if not you just let it slide.
[Mar 25, 2012 9:38:25 PM EDT]     InvestorsLive    if so, apply for it or … secondly you probably are holding non-marginable stocks over night ie: OTCs and then can’t use htat BP during day if at Penson and others
[Mar 25, 2012 9:39:05 PM EDT]     sonic    i do, these are generally penny/otc/pk stocks that aren’t marginable or require 100%
[Mar 25, 2012 9:39:23 PM EDT]     InvestorsLive    sotorious – only time I let stocks slide against me longer than I want is if I’m havin a good day and it’s houses moeny at risk I try not to get in the hole if it’s not the plan before I have realized gains on the day
[Mar 25, 2012 9:40:10 PM EDT]     InvestorsLive    sonic – yea, I think Etrade and IB let you trade that cash but most don’t – may be a benefit for you to join BroadStreet or SureTrader so you can just hav ethem refresh the BP and you’ll be all set
[Mar 25, 2012 9:40:37 PM EDT]     sonic    i’ll look into them…thx
[Mar 25, 2012 9:40:43 PM EDT]     GaryJPalys    That’s about the only thing I like with TDA
[Mar 25, 2012 9:41:00 PM EDT]     InvestorsLive    alright guys anything else I can help with?
[Mar 25, 2012 9:41:04 PM EDT]     CrackerJack    is EquityFeed a major part of your intraday trading? if so, in what way?
[Mar 25, 2012 9:41:06 PM EDT]     InvestorsLive    as you guys know Im always here for PM during day
[Mar 25, 2012 9:41:10 PM EDT]     InvestorsLive    don’t be afraid to ask
[Mar 25, 2012 9:41:19 PM EDT]     InvestorsLive    yep Cracker – equity feed my scans…
[Mar 25, 2012 9:41:30 PM EDT]     InvestorsLive    accumulatuon scans … I use HOD list as well w/ parameters
[Mar 25, 2012 9:41:38 PM EDT]     InvestorsLive    all my OTCs come from EF
[Mar 25, 2012 9:41:44 PM EDT]     InvestorsLive    w/. the settings I coverd in the EF seminar
[Mar 25, 2012 9:41:46 PM EDT]     InvestorsLive    on new member page
[Mar 25, 2012 9:41:46 PM EDT]     CrackerJack    ok, so accum scans are big
[Mar 25, 2012 9:42:38 PM EDT]     CrackerJack    I use TradeIdeas, so just curious what xtra EquityF might give me, if anything
[Mar 25, 2012 9:43:05 PM EDT]     GaryJPalys    EquityFeed isn’t cheap though… So Nate’s Finviz is good! http://finviz.com/screener.ashx?v=311&f=ta_averagetruerange_o0.25,ta_change_u,ta_changeopen_u,ta_pattern_horizontal,ta_perf_dup,ta_perf2_d5o,ta_volatility_wo5&ft=3&ta=0&o=-volume
[Mar 25, 2012 9:43:38 PM EDT]     InvestorsLive    alrighty guys
[Mar 25, 2012 9:43:41 PM EDT]     InvestorsLive    have ag ood night
[Mar 25, 2012 9:43:50 PM EDT]     ettothree    thanks nate
[Mar 25, 2012 9:43:50 PM EDT]     yanks080602    for that scan is it used for shorting only?
[Mar 25, 2012 9:43:53 PM EDT]     EWING1    Thanks!
[Mar 25, 2012 9:43:53 PM EDT]     sotorious    night and thanks.
[Mar 25, 2012 9:43:57 PM EDT]     Robyn    thanks Nate. good night
[Mar 25, 2012 9:44:01 PM EDT]     GaryJPalys    Have a great night Nate, and everyone else!
[Mar 25, 2012 9:44:06 PM EDT]     CrackerJack    I use TradeIdeas for intraday (extremely good) and TC2000 night scan. Just wanting to know if EquityF has anything more
[Mar 25, 2012 9:44:27 PM EDT]     sotorious    a lot of this stuff still jibberish, but eventually i will slowly understand all.
[Mar 25, 2012 9:45:53 PM EDT]     Vegita    have a good night nate. Thanks very much.
[Mar 25, 2012 9:47:07 PM EDT]     sfk10    thanks IL!
[Mar 25, 2012 9:48:36 PM EDT]     superfly15    2 hours…these are getting longer lol! good questions
[Mar 25, 2012 9:49:01 PM EDT]     sotorious    i cant beleive i sat here for 2 hours and wasnt bored for 1 second.
[Mar 25, 2012 9:49:10 PM EDT]     sotorious    all over text ontop of it.
[Mar 25, 2012 9:52:33 PM EDT]     EWING1    Hi all, I’ve just begun trading again, and I’m under the PDT rule. I’m reading the link that nate posted earlier in the chat about how to get around it, but I’m curious- any of you have feedbackon which works best, Broad or SureTrader? And by best I really mean, are there any catches to this? Basically, b/c they accounts would be in Canada, they wouldnt fall under the PDT rule? Thanks everyon.
[Mar 25, 2012 9:52:59 PM EDT]     Timmay    SureTrader
[Mar 25, 2012 9:53:05 PM EDT]     Timmay    i had both
[Mar 25, 2012 9:53:42 PM EDT]     Timmay    just my opinion… only “catch” is it costs some money to transfer funds in and out. Since they’re off shore it has to be wired.
[Mar 25, 2012 9:54:46 PM EDT]     Timmay    but sure trader is great… i have 2 other brokers but do most of my day trading in suretrader now
[Mar 25, 2012 9:55:15 PM EDT]     EWING1    Im currently with TDA. I love TOS platform. But im restricted with the PDT rule. If I switched, I wouldn’t be restricted by this rule anymore?!?
[Mar 25, 2012 9:55:26 PM EDT]     Timmay    exactly
[Mar 25, 2012 9:56:13 PM EDT]     EWING1    OMG ok. LOL I feel like i just woke from a bad dream. Do a lot of members hav accts there? This is great.
[Mar 25, 2012 9:56:47 PM EDT]     Timmay    idk… but i’ve been trading with them since december and will be with them for awhile
[Mar 25, 2012 9:57:36 PM EDT]     EWING1    How is DAS, that’s the trading platform right?
[Mar 25, 2012 9:57:42 PM EDT]     Timmay    awesome
[Mar 25, 2012 9:57:46 PM EDT]     Timmay    you have to pay for it
[Mar 25, 2012 9:57:48 PM EDT]     Timmay    but its great
[Mar 25, 2012 9:58:24 PM EDT]     EWING1    Hmmm ok… It sound slike its well worth the $$ then because this rule is killing me.
[Mar 25, 2012 9:58:44 PM EDT]     Timmay    for sure
[Mar 25, 2012 9:59:09 PM EDT]     Timmay    it’s great for under 25K accounts
[Mar 25, 2012 9:59:47 PM EDT]     EWING1    Ok thanks much I’m reading into it more now.
[Mar 25, 2012 10:03:17 PM EDT]     EWING1    Can u do swing trades without a problem in Suretrader?
[Mar 25, 2012 10:04:42 PM EDT]     Timmay    i don’t see why you couldn’t. The few i’ve had i had no problems. Usually if i’m going to swing something i use one of my other accounts and just use suretrader for day trading but you shouldn’t have any problems with swing trades
[Mar 25, 2012 10:05:10 PM EDT]     Timmay    they put restrictions with how much you can overnight on margin but that’s it
[Mar 25, 2012 10:05:16 PM EDT]     superfly15    you suretrader ppl ever get the bank asking you why youre wiring down there?
[Mar 25, 2012 10:05:51 PM EDT]     Timmay    ya, and then i answered their question
[Mar 25, 2012 10:05:53 PM EDT]     Timmay    lol
[Mar 25, 2012 10:06:27 PM EDT]     EWING1    LOL
[Mar 25, 2012 10:06:40 PM EDT]     superfly15    lol
[Mar 25, 2012 10:07:39 PM EDT]     Timmay    the person who started suretrader is the same guy who started speedtrader. great guy in my opinion
[Mar 25, 2012 10:09:02 PM EDT]     EWING1    They offer more margin than say, TDA?
[Mar 25, 2012 10:09:19 PM EDT]     Timmay    idk.. i made like 10 trades with TD and closed my account
[Mar 25, 2012 10:09:28 PM EDT]     Timmay    suretrader is 6-1 intraday
[Mar 25, 2012 10:09:36 PM EDT]     Timmay    4-1 i believe overnight
[Mar 25, 2012 10:09:43 PM EDT]     danedome    2-1 o/n
[Mar 25, 2012 10:09:51 PM EDT]     Timmay    ah yes
[Mar 25, 2012 10:10:01 PM EDT]     Timmay    and 1-1 on OTC’s or stocks under $3 i believe
[Mar 25, 2012 10:10:21 PM EDT]     Timmay    but overnighting on margin is recipe for disaster imo and sleepless nights
[Mar 25, 2012 10:10:25 PM EDT]     Laura    don’t know why you guys want 6-1 or 4-4 overnight, but w/e
[Mar 25, 2012 10:10:29 PM EDT]     Timmay    some people do it but i never have
[Mar 25, 2012 10:10:53 PM EDT]     Laura    nope
[Mar 25, 2012 10:10:56 PM EDT]     Laura    too risky
[Mar 25, 2012 10:11:05 PM EDT]     EWING1    Agreed
[Mar 25, 2012 10:11:34 PM EDT]     Laura    always cash at eod except for a swing or two
[Mar 25, 2012 10:11:42 PM EDT]     Timmay    yup ditto