[Nov 20, 2011 8:05:19 PM EST] InvestorsLive Alrighty guys
[Nov 20, 2011 8:05:23 PM EST] InvestorsLive u ready for seminar
[Nov 20, 2011 8:05:27 PM EST] InvestorsLive thanks for the questions
[Nov 20, 2011 8:05:38 PM EST] InvestorsLive we’ll do the normal gig, I’ll cover the questions sent in
[Nov 20, 2011 8:05:50 PM EST] InvestorsLive then I think Muddy had a question or 2 to answer and we’ll open it up
[Nov 20, 2011 8:05:55 PM EST] InvestorsLive we’ve got a short week this week
[Nov 20, 2011 8:06:15 PM EST] InvestorsLive I suspect many will be out Friday
[Nov 20, 2011 8:06:54 PM EST] InvestorsLive so we should have a good Mon-Weds will get slow later on Monday and I’ll be surprised to see 150 in chat Friday
[Nov 20, 2011 8:07:11 PM EST] InvestorsLive one key point I put on scan for this week
[Nov 20, 2011 8:07:19 PM EST] InvestorsLive whenever I’m prepared for it… never happens but
[Nov 20, 2011 8:07:29 PM EST] InvestorsLive just keep in back of your mind it’s typically a light vol week
[Nov 20, 2011 8:07:45 PM EST] InvestorsLive when “that” stock is testing highs and you’re wondering HOW can it keep going…
[Nov 20, 2011 8:07:53 PM EST] InvestorsLive well … it can THIS week .. and Christmas week etc
[Nov 20, 2011 8:08:33 PM EST] InvestorsLive so
[Nov 20, 2011 8:08:37 PM EST] InvestorsLive QUESTION: Sorry to ask again but can you explain with a visual chart how you know when to buy a accumulation scan. Charts are usually choppy and dont have support resistance etc. Can you show on a chart when you would buy and why? Also what is the difference between an accumulation and frontload? (Another question related: I guess you meant accumulation and distribution, but what is the measure)
[Nov 20, 2011 8:09:10 PM EST] InvestorsLive ANSWER: Accumulation scan is just a scan of what meets the parameters I plugged in (which can be seen on the EquityFeed seminar on the new member page) …. in a nutshell everything that shows up I know I can play as I wish … it meets the $ Volume, it meets the # of trades. What does this mean? It means that it’s just just one or two guys in the stocks … like I give people a hard time in chat sometimes when they mention a stock that’s traded like $12,000 dollars worth and I right …. REALLY? It avoids that stuff, if it shows on my scan I know that buying/mentioning/trading it one depend on 1 or 2 people but rather has a ‘legitimate’ market for the time being and liquid.
[Nov 20, 2011 8:09:48 PM EST] InvestorsLive It means that it’s NOT just 1 or 2 people in a stock
[Nov 20, 2011 8:09:52 PM EST] InvestorsLive ****
[Nov 20, 2011 8:10:01 PM EST] InvestorsLive so the scan basically what it shows me for tickers
[Nov 20, 2011 8:10:31 PM EST] InvestorsLive is tickers I can trust isn’t just 1 or 2 traders but a semi legit liquid market
[Nov 20, 2011 8:10:37 PM EST] InvestorsLive For example, the difference between AMWI the past 2 days …. and NEOM .. sure NEOM is up but is it tradable? Can you buy in and out with $5, 10 or $15,000 without worrying about not getting out? That’s the key … the rest of it … as to “when to buy” is related to pull back to a support level, perk off consolidation … and much like the A, B, C, D set up I went over in the suggested powerpoint before tonight’s seminar.
[Nov 20, 2011 8:11:28 PM EST] InvestorsLive You know how it’s always easy to buy?
[Nov 20, 2011 8:11:31 PM EST] InvestorsLive but selling is another story
[Nov 20, 2011 8:11:52 PM EST] InvestorsLive … that’s what I try to avoid by only really watching what pops up on my scanners
[Nov 20, 2011 8:12:12 PM EST] InvestorsLive Any questions related to this?
[Nov 20, 2011 8:12:22 PM EST] InvestorsLive as far as WHERE to enter like I said above
[Nov 20, 2011 8:12:28 PM EST] InvestorsLive it’s just like any other stock I Trade nasdaq or OTC
[Nov 20, 2011 8:12:41 PM EST] InvestorsLive BUT OTCs react to a T much better than Nasdaqs on the gearing/perking
[Nov 20, 2011 8:12:51 PM EST] tradernyc yea does the chrt usually look god on acc scans?
[Nov 20, 2011 8:13:11 PM EST] InvestorsLive it can… or it can be all over just like Nasdaqs
[Nov 20, 2011 8:13:23 PM EST] InvestorsLive that’s why like I said above it comes down to a pattern you’re familiar with
[Nov 20, 2011 8:13:27 PM EST] tradernyc so at what pt do you buy?
[Nov 20, 2011 8:13:29 PM EST] InvestorsLive and like I said I use basically my typical set ups
[Nov 20, 2011 8:13:41 PM EST] tradernyc ok
[Nov 20, 2011 8:13:46 PM EST] tradernyc gotcha
[Nov 20, 2011 8:13:52 PM EST] InvestorsLive gearing/perking … A, B, C, D chart I go over etc
[Nov 20, 2011 8:13:56 PM EST] InvestorsLive late day HOD test
[Nov 20, 2011 8:14:03 PM EST] InvestorsLive pull backs and holds former support
[Nov 20, 2011 8:14:22 PM EST] InvestorsLive any further questions related to this?
[Nov 20, 2011 8:14:45 PM EST] tradernyc na
[Nov 20, 2011 8:14:58 PM EST] InvestorsLive QUESTION: How did you know when to sell RAYS I over held and ended up making half of what I should have?
[Nov 20, 2011 8:15:06 PM EST] InvestorsLive Long answer
[Nov 20, 2011 8:15:08 PM EST] InvestorsLive I don’t really have to answer this one do I? We discussed it nightly and each time you asked like I tell anyone who ask me “should I hold ______ [insert any pump here]” the answer is always sell 1/2 … or SELL. Fact is … it went straight up .. no headaches. Look … maybe I got lucky … but I just wasn’t being greedy. It hit 52 week highs no problem, did the big dip and I mentioned in chat … sure this first dip is one thing you guys are all buying so freely as if it’s not a big deal … BECAREFUL on the next drop. After that bounce it tested $2.50s … once… twice… next day… opened up .. tried again … failed, I’m up 100% it’s starting to pull back (holds) do I lock in or not? Started to warn chat to take profits as I was … then the NEXT day is tried for the break ONE more time … failed held 2.36 area … then mid day snapped 2.36 (this is something it has NOT done) first time broke support level (always had a higher low and always held the prior support level) this time it cracked .. and over.
[Nov 20, 2011 8:15:22 PM EST] InvestorsLive This is personal response (ha) into a formal response
[Nov 20, 2011 8:15:31 PM EST] tradernyc lol
[Nov 20, 2011 8:16:06 PM EST] InvestorsLive the main thing to take home here is look we had the easy move, 100% gainer then every time we joked about the “BIG” pull backs .. .02 cents … and “Woah a big pull back .03 that time!” etc …
[Nov 20, 2011 8:16:39 PM EST] InvestorsLive the time it finally really pulled like .40 cents … everyone just was buying like mad left and right without thinking and I told chat … guys not saying its safe but although I think its ‘ok’ this time to snag the first dip like this
[Nov 20, 2011 8:16:49 PM EST] InvestorsLive its very scary to see how willing people are to just buy
[Nov 20, 2011 8:17:00 PM EST] InvestorsLive stock is still up 80% etc etc and all that jazz
[Nov 20, 2011 8:17:53 PM EST] InvestorsLive so each day I told people careful on the dips moving forward pretty scary how everyone was just divinig right in the first round – anyway as I said above .. we had 2 .. 3.. 4… tries at breaking the highs and it just became a thing .. well I’m up 100% am I a pig or do I lock in a good portion and ride the rest
[Nov 20, 2011 8:18:13 PM EST] InvestorsLive so I decided to ride the rest, heck I was a buyer pre marekt the day it tanked (1 hour after open) it wasn’t predictable
[Nov 20, 2011 8:18:28 PM EST] InvestorsLive but fact is there is a point where the risk vs. reward shifts
[Nov 20, 2011 8:18:39 PM EST] InvestorsLive and if you’re someone who is trying to build an account, when it shifts
[Nov 20, 2011 8:18:44 PM EST] InvestorsLive you should be less on the risk side
[Nov 20, 2011 8:18:49 PM EST] InvestorsLive and be locking in
[Nov 20, 2011 8:19:07 PM EST] InvestorsLive any questions on RAYS before next Question
[Nov 20, 2011 8:19:35 PM EST] InvestorsLive going once … twice….
[Nov 20, 2011 8:19:39 PM EST] InvestorsLive good?
[Nov 20, 2011 8:19:50 PM EST] InvestorsLive QUESTION: All of us in the room want to also trade and make money as much as you make. Can you please start telling us how big a postion you take in things. Usually u just saying if u buy but can u tell us I buy 500 shares etc so we know where to concentrate our money.
[Nov 20, 2011 8:20:01 PM EST] InvestorsLive That’s WHY I don’t give position size. I speak in terms of % so traders can focus on “Ok he’s in 1/3 here so my typical stop would be .. so wider stop, then add in once trend confirms … and full size once it breaks or snaps” vs. “OK he’s in $15k worth so he must not believe it as much as SINA cuz he’s in $300k worth … ” so that’s the exact point you ask which is what I don’t want. When I trade I focus on my risk …. I’m not concentrating on whether or not I’m in $5k or $50k but rather .. my risk is $300 or $500 … and .20 cents .50 cents or $1 range.
[Nov 20, 2011 8:20:27 PM EST] InvestorsLive my goal here is to make people better traders, and help those beginning and or even those great…. better… heck I’m still getting better and/or learning day in and day out
[Nov 20, 2011 8:20:44 PM EST] InvestorsLive last seminar AJ for example mentioned
[Nov 20, 2011 8:20:59 PM EST] InvestorsLive “well if I knew you were in $100k RAYS I would have probably bought more”
[Nov 20, 2011 8:21:14 PM EST] InvestorsLive and my answer was basically
[Nov 20, 2011 8:21:19 PM EST] InvestorsLive well if you knew I was in $100k AVVC
[Nov 20, 2011 8:21:22 PM EST] InvestorsLive and you bought more
[Nov 20, 2011 8:21:25 PM EST] InvestorsLive where would you be?
[Nov 20, 2011 8:21:35 PM EST] InvestorsLive ooops -$50k
[Nov 20, 2011 8:21:56 PM EST] InvestorsLive so sure, it’s easy in hindsight to say I coulda shoulda woulda and if I knew your size I coulda woulda made …. but that’s not what the point here is
[Nov 20, 2011 8:22:17 PM EST] InvestorsLive its about the trade and allowing anyone whether they are small account or 10 times my account ….
[Nov 20, 2011 8:22:54 PM EST] InvestorsLive ok I am starting in… 1/3 size … ok its stabilized starting to fade I’m up some… snag into 1/2 size then anticipate a crack on full size (knowing you’re already up with some houses money)
[Nov 20, 2011 8:23:11 PM EST] InvestorsLive my whole goal when trading is minimizing risk, when I’m in full size i want to have houses money on my side
[Nov 20, 2011 8:23:28 PM EST] InvestorsLive make sense, questions?
[Nov 20, 2011 8:23:35 PM EST] InvestorsLive The next Q was related to a chart example of it
[Nov 20, 2011 8:23:37 PM EST] InvestorsLive http://www.investorsunderground.com/img/VJAMTHWDEM.png
[Nov 20, 2011 8:23:41 PM EST] InvestorsLive IOC was one we all traded and nailed
[Nov 20, 2011 8:23:44 PM EST] rico17010 do you lock in the houses money, or hold it while you add?
[Nov 20, 2011 8:23:44 PM EST] InvestorsLive but is a ‘thin’ one
[Nov 20, 2011 8:23:54 PM EST] InvestorsLive well for example IOC right
[Nov 20, 2011 8:24:06 PM EST] InvestorsLive I figured on scan .. $50 was going to be area of interest
[Nov 20, 2011 8:24:37 PM EST] InvestorsLive so I started in 1/4 size and mind you… lately for whatever reason a lot of these stocks that we’ve been banking on … are thinner… HUGE range … lesser vol (still good vol but nothing compared to the 10m share types)
[Nov 20, 2011 8:24:59 PM EST] InvestorsLive but I’m not going to nail it to the penny so I can’t go in 1-2k right away as I could be out .50 cents right away
[Nov 20, 2011 8:25:21 PM EST] InvestorsLive knowing the risk I have to avg in to my short bias … but start in and add – so rico for example
[Nov 20, 2011 8:25:34 PM EST] InvestorsLive 50.15 I started in knowing if it squeezed $1-1.50 I’d be ok ..
[Nov 20, 2011 8:25:43 PM EST] InvestorsLive then the goal (wednesday on the chart)
[Nov 20, 2011 8:25:49 PM EST] InvestorsLive was obviously the $50 over/under
[Nov 20, 2011 8:26:04 PM EST] InvestorsLive added a bit at like 50.35-40 just small so was coming into the $50 test aka the break
[Nov 20, 2011 8:26:14 PM EST] InvestorsLive with .25-.30/share profit on average
[Nov 20, 2011 8:26:39 PM EST] InvestorsLive so if SPY were to tank hard and $50 test I knew I could hit it having houses $ on my side … and knowing well if it deosnt break and 50.50 breaks I should probably get out
[Nov 20, 2011 8:26:56 PM EST] InvestorsLive so sure enough, it lined up .. SPY tanked hard, and I went to double up on IOC
[Nov 20, 2011 8:27:03 PM EST] InvestorsLive and wasnt quick enough
[Nov 20, 2011 8:27:17 PM EST] InvestorsLive still did well on it but my plan was to hit the $50 bid on any SPY weakness
[Nov 20, 2011 8:27:26 PM EST] InvestorsLive then obviouslly got the $2/share pull back and a ton of us made $
[Nov 20, 2011 8:27:43 PM EST] InvestorsLive that’s how I avg in .. in those situations becuase its thinner, and the spread is wider
[Nov 20, 2011 8:27:54 PM EST] InvestorsLive if you go in full size you may stop out before the play even has a chance to pan out
[Nov 20, 2011 8:28:03 PM EST] InvestorsLive any questions on this subject?
[Nov 20, 2011 8:28:27 PM EST] ChopStockTrader rule of thumb on what you call thin?
[Nov 20, 2011 8:28:41 PM EST] InvestorsLive wide range… just look how this trades vs. BAC
[Nov 20, 2011 8:28:54 PM EST] InvestorsLive its trading on few hundred K to 1m shares
[Nov 20, 2011 8:29:00 PM EST] InvestorsLive and moving .30-.50 on any break or break down
[Nov 20, 2011 8:29:02 PM EST] InvestorsLive vs. .03-.05
[Nov 20, 2011 8:29:08 PM EST] InvestorsLive KITD ..
[Nov 20, 2011 8:29:09 PM EST] InvestorsLive PKT …
[Nov 20, 2011 8:29:15 PM EST] InvestorsLive look at that price action
[Nov 20, 2011 8:29:17 PM EST] InvestorsLive vs. MSFT
[Nov 20, 2011 8:29:17 PM EST] InvestorsLive BAC
[Nov 20, 2011 8:29:21 PM EST] InvestorsLive etc
[Nov 20, 2011 8:29:22 PM EST] Laura thin is kinda easy to see
[Nov 20, 2011 8:29:32 PM EST] InvestorsLive LNKD .. moves dollars not cents
[Nov 20, 2011 8:29:48 PM EST] basher the price on IOC did briefly go over 50.50. did you want to lighten up or get out there?
[Nov 20, 2011 8:29:52 PM EST] InvestorsLive BAC moves cents not dollars
[Nov 20, 2011 8:29:55 PM EST] tputs001 If the move was like .30-.50, shouldn’t the stop be pushed a bit back more rather then .50?
[Nov 20, 2011 8:30:07 PM EST] ChopStockTrader yeah…i know the feeling of thin stocks. just wnated to see if IL had something more he was looking at
[Nov 20, 2011 8:30:22 PM EST] InvestorsLive basher – it went above 50.50 prior yes, remember I was in starter with a WIDE stop
[Nov 20, 2011 8:30:44 PM EST] InvestorsLive then once it settled down … $50 test w/ SPY downside … good r/r
[Nov 20, 2011 8:31:00 PM EST] InvestorsLive right tputs001 – that’s right
[Nov 20, 2011 8:31:09 PM EST] InvestorsLive especially when you’re starting in and averaging in
[Nov 20, 2011 8:31:28 PM EST] InvestorsLive you’re looking for the $1-2/share move vs. .20 cent move …. so you can’t have a tight stop when working into it
[Nov 20, 2011 8:31:59 PM EST] InvestorsLive any further questions related to this?
[Nov 20, 2011 8:32:01 PM EST] basher so does time influence when you average in? first 1/3 was in the morning, 2nd 1/3 in midday, and waiting for EOD fade?
[Nov 20, 2011 8:32:09 PM EST] InvestorsLive btw this is why I always warn lately since they are wider/thinner stocks
[Nov 20, 2011 8:32:16 PM EST] InvestorsLive I always metion it like 6 x
[Nov 20, 2011 8:32:31 PM EST] InvestorsLive no time doesn’t, price action does
[Nov 20, 2011 8:32:34 PM EST] InvestorsLive just like what I explained on IOC
[Nov 20, 2011 8:33:26 PM EST] basher okay, so when it’s going sideways from like 1-3pm that’s when you add in because of the sideways action?
[Nov 20, 2011 8:33:39 PM EST] basher and if it breaks to the upside then you stop out?
[Nov 20, 2011 8:33:59 PM EST] InvestorsLive no I didn’t ‘add’ I added tiny still in a starter and then added when I said SPY cracked
[Nov 20, 2011 8:34:10 PM EST] InvestorsLive the reason for the final add was the SPY crack
[Nov 20, 2011 8:34:27 PM EST] InvestorsLive but missed the full add because it cracked fast on SPY
[Nov 20, 2011 8:34:40 PM EST] InvestorsLive debated hitting 49.80 but felt like a chase
[Nov 20, 2011 8:34:50 PM EST] InvestorsLive scroll up again – don’t forget how I use the SPY
[Nov 20, 2011 8:34:58 PM EST] InvestorsLive SPY is a big part of what I do when the market is active
[Nov 20, 2011 8:35:01 PM EST] InvestorsLive moving largely
[Nov 20, 2011 8:35:08 PM EST] basher okay, and if SPY explodes then you stop out?
[Nov 20, 2011 8:35:31 PM EST] InvestorsLive if SPY explodes than I prob would have stopped out (keep in mind I would be in a starter)
[Nov 20, 2011 8:35:47 PM EST] InvestorsLive SPY wasn’t exploding and the only reason I added is because SPY took a sh*t
[Nov 20, 2011 8:36:14 PM EST] InvestorsLive there’s no reason to just randomly add higher unless it fades/settles down or had a late day crack
[Nov 20, 2011 8:36:20 PM EST] tputs001 what day was this IOC trade, wednesday?
[Nov 20, 2011 8:36:26 PM EST] basher okay, but SPY doesn’t affect other trades like shorting parabolics, right?
[Nov 20, 2011 8:36:31 PM EST] InvestorsLive says Weds on there tputs
[Nov 20, 2011 8:36:39 PM EST] InvestorsLive break over $50
[Nov 20, 2011 8:36:45 PM EST] InvestorsLive then used that as the gauge
[Nov 20, 2011 8:37:02 PM EST] InvestorsLive basher – no, that’s just typical price action and let the trade pan out
[Nov 20, 2011 8:37:22 PM EST] InvestorsLive so if it starts to crack near a key level …. and ur up and can add in
[Nov 20, 2011 8:37:26 PM EST] InvestorsLive and makes sense
[Nov 20, 2011 8:37:39 PM EST] InvestorsLive vs. IOC which kept going inching up slowly no reason to add in more than a starter
[Nov 20, 2011 8:37:46 PM EST] InvestorsLive unless … for example SPY
[Nov 20, 2011 8:38:12 PM EST] basher okay, cool that makes sense
[Nov 20, 2011 8:38:24 PM EST] tputs001 If your stop was .50, and around 2:47, IOC actually hit .50+ again and seemed like it was going to hit the HOD before going down, woudl the HOD have made you gotten out if it did hit it?
[Nov 20, 2011 8:38:54 PM EST] InvestorsLive if questions basher during day just PM me on this examples – I think your on it … but think ur confused ie: I didn’t just add into IOC for no reason while it was still going up was still in starter regardless and the reason for the real add was the move in the SPY
[Nov 20, 2011 8:39:26 PM EST] InvestorsLive tputs001 – as I said AFTER I was in full size … my stop would have been around 50.50 more than likely
[Nov 20, 2011 8:39:41 PM EST] InvestorsLive but there was no reason to be full size until the point where I went in full size
[Nov 20, 2011 8:39:47 PM EST] InvestorsLive ie: SPY tank
[Nov 20, 2011 8:39:52 PM EST] InvestorsLive and anticipating the tank in IOC
[Nov 20, 2011 8:40:09 PM EST] InvestorsLive you guys are confusing yourself because you’re thinking there is more
[Nov 20, 2011 8:40:16 PM EST] InvestorsLive and making yourself believe otherwise
[Nov 20, 2011 8:40:24 PM EST] InvestorsLive I wasn’t short a full size on the way up
[Nov 20, 2011 8:40:32 PM EST] InvestorsLive I was in starter to get a feel for it
[Nov 20, 2011 8:40:39 PM EST] InvestorsLive what made me add was the SPY tank
[Nov 20, 2011 8:40:47 PM EST] InvestorsLive and what I said was upon going in full size
[Nov 20, 2011 8:40:50 PM EST] tputs001 I understand, you were full size when SPY was goign to go down and anticipating the break back over under 50
[Nov 20, 2011 8:40:50 PM EST] InvestorsLive given by 2k shares
[Nov 20, 2011 8:40:58 PM EST] InvestorsLive I probably would have stopped around .50 area
[Nov 20, 2011 8:41:10 PM EST] InvestorsLive right, therefore it didn’t hit 50.50
[Nov 20, 2011 8:41:16 PM EST] tputs001 thank you 🙂
[Nov 20, 2011 8:41:21 PM EST] InvestorsLive anyway I’mg onna move on – if you’re still confused then I can help ya on side
[Nov 20, 2011 8:41:23 PM EST] Xtraderr what made u short IOC in first place..anticipating the late day crack?
[Nov 20, 2011 8:41:40 PM EST] InvestorsLive was on my scan the night before
[Nov 20, 2011 8:41:44 PM EST] InvestorsLive look at teh daily chart
[Nov 20, 2011 8:41:48 PM EST] InvestorsLive vs. intraday view
[Nov 20, 2011 8:41:59 PM EST] Xtraderr oh bounced off 40
[Nov 20, 2011 8:42:01 PM EST] InvestorsLive came from way low straight up like $8 bucks with no dip
[Nov 20, 2011 8:42:02 PM EST] InvestorsLive yes
[Nov 20, 2011 8:42:09 PM EST] InvestorsLive so plan was on scan night before
[Nov 20, 2011 8:42:11 PM EST] InvestorsLive figured $50 magnet
[Nov 20, 2011 8:42:18 PM EST] Xtraderr ok..
[Nov 20, 2011 8:42:36 PM EST] tradernyc Question: Why do you use interday scan for nightly scans and not the intrday from the same day(might be stupid question but just wondering)
[Nov 20, 2011 8:43:03 PM EST] tradernyc Isorry mest up question
[Nov 20, 2011 8:43:05 PM EST] InvestorsLive how can get Support/resistance?
[Nov 20, 2011 8:43:09 PM EST] tradernyc Ill try again
[Nov 20, 2011 8:43:13 PM EST] InvestorsLive how can u get a feel for the chart
[Nov 20, 2011 8:43:18 PM EST] InvestorsLive how can u know if it was a former runner
[Nov 20, 2011 8:43:26 PM EST] InvestorsLive how can u know what it did in past month if you look at one day
[Nov 20, 2011 8:43:33 PM EST] tradernyc so u did get what i was asking lol thanks
[Nov 20, 2011 8:43:36 PM EST] InvestorsLive QUESTION: Any benefit to using different routes? With IB I usually just use SMART because I don’t really know the difference. Are certain routes better for certain plays, OTCs vs. Nasdaqs, market hours vs. pre market or after hours?
[Nov 20, 2011 8:43:42 PM EST] InvestorsLive IB doesn’t have many OTC routes, it’s either SMART which usually goes to NITE or ARCA which is good if you’re trying to hide your size on the buy or sell. ie: rather than showing 25,000, 100,000 shares you can show 5,000 shares but really be there for more.
[Nov 20, 2011 8:44:06 PM EST] InvestorsLive IB is mainly a GREAT platform for the harder to borrow stocks ON NASDAQ
[Nov 20, 2011 8:44:23 PM EST] InvestorsLive if you’re using IB for OTCs there are better solutions out there, ie: SpeedTrader
[Nov 20, 2011 8:44:40 PM EST] InvestorsLive but if I do use IB for OTCs, SMART usually goes to NITE like I said above
[Nov 20, 2011 8:44:51 PM EST] InvestorsLive otherwise ARCA if they make a market pre and/or during day
[Nov 20, 2011 8:44:58 PM EST] InvestorsLive advantage of hiding size
[Nov 20, 2011 8:45:12 PM EST] InvestorsLive after hours, doesn’t matter I use the smart route and let it auto route on Nasdaq
[Nov 20, 2011 8:45:23 PM EST] InvestorsLive QUESTION: How do you fight over confidence? For example, I’m starting to notice that after I have a few good trades, I get sloppy and inevitably take a stupid loss that burns up some or most of the profits I made in previous trades. I’ve been around for a while now and I know what setups we look for and I know I have to be patient, but sometimes I still break the rules and trade like an idiot. I know the same thing happens/has happened to you, so how have you learned to manage it? Do you ever take a break after a winning streak, call it quits for the day, etc? I’m still in the account building stage, so this is a pretty big deal.
[Nov 20, 2011 8:45:31 PM EST] InvestorsLive Easy answer
[Nov 20, 2011 8:45:40 PM EST] InvestorsLive You either smarten up or get smacked if your too confident.
[Nov 20, 2011 8:45:46 PM EST] InvestorsLive Many times I’ll end up getting zapped after a good run ….
[Nov 20, 2011 8:46:00 PM EST] Xtraderr re SINA
[Nov 20, 2011 8:46:00 PM EST] InvestorsLive but the key is minimizing it, realize it sooner
[Nov 20, 2011 8:46:10 PM EST] InvestorsLive SINA, and whatever it was last week
[Nov 20, 2011 8:46:11 PM EST] InvestorsLive CECO
[Nov 20, 2011 8:46:17 PM EST] InvestorsLive after RAYS scores
[Nov 20, 2011 8:46:28 PM EST] Xtraderr i think its probly an ego thing imo
[Nov 20, 2011 8:46:34 PM EST] InvestorsLive cuz you think … “eh, well whats $1k when I just made $80k… well $5k not so bad” etc
[Nov 20, 2011 8:46:54 PM EST] InvestorsLive I don’t think so Xtrader
[Nov 20, 2011 8:46:57 PM EST] InvestorsLive that’s no an ego thing
[Nov 20, 2011 8:47:02 PM EST] InvestorsLive its confidence
[Nov 20, 2011 8:47:12 PM EST] InvestorsLive when ur trading well, sometimes you get too comfy
[Nov 20, 2011 8:47:16 PM EST] InvestorsLive forget where you are sometimes
[Nov 20, 2011 8:47:21 PM EST] InvestorsLive ego = cocky
[Nov 20, 2011 8:47:28 PM EST] InvestorsLive over conf. = too comfortable
[Nov 20, 2011 8:47:33 PM EST] Xtraderr right
[Nov 20, 2011 8:48:12 PM EST] InvestorsLive That’s what I got for questions in, the last one was related to Muddy and how he goes about his day Pre List to finding/trading etc in a nutshell
[Nov 20, 2011 8:48:26 PM EST] InvestorsLive so before I hand it over there – any questions I didn’t cover and/or follow ups that you didn’t get or having a hard time with?
[Nov 20, 2011 8:49:47 PM EST] Muddy pre i just use IB gainers, at least 5% on 1000 shares for ones over $1…
[Nov 20, 2011 8:50:34 PM EST] Muddy at least 10% on under 1 with 1000 shrs…
[Nov 20, 2011 8:52:14 PM EST] Muddy then any on the momo list the last 2 days that the bid is above the last close, regardless of volume, even 0 vol
[Nov 20, 2011 8:52:51 PM EST] Muddy many good ones come of the momo list
[Nov 20, 2011 8:53:18 PM EST] Muddy sneaky cause many have no vol
[Nov 20, 2011 8:53:25 PM EST] rwaters254 Muddy, when you say 5% and 10%- are you that percent again of your normal Size
[Nov 20, 2011 8:53:48 PM EST] Laura couple peeps have emailed/pm’d us on how you caught PARD on Friday
[Nov 20, 2011 8:54:19 PM EST] ajtrader I found PARD Laura
[Nov 20, 2011 8:54:28 PM EST] InvestorsLive lol
[Nov 20, 2011 8:54:37 PM EST] ajtrader thank you
[Nov 20, 2011 8:54:38 PM EST] InvestorsLive found pre, but forgot about it til .30 🙂
[Nov 20, 2011 8:54:46 PM EST] InvestorsLive Muddy nailed outta gate .175
[Nov 20, 2011 8:54:50 PM EST] InvestorsLive but cookies in the oven AJ
[Nov 20, 2011 8:54:53 PM EST] InvestorsLive almost ready
[Nov 20, 2011 8:55:23 PM EST] rwaters254 i understand -you are meaning up- got it
[Nov 20, 2011 8:55:46 PM EST] Laura yes AJ, props
[Nov 20, 2011 8:55:59 PM EST] InvestorsLive woulda gave u credit + dozen cookies AJ if you mentioned 9:30 to 9:45AM but you wasn’t watching 😛
[Nov 20, 2011 8:56:25 PM EST] Muddy thats 5 and 10% above the stocks price the previous close
[Nov 20, 2011 8:56:27 PM EST] ajtrader yah yah yah…i’ll just keep doing my thing…:)
[Nov 20, 2011 8:57:08 PM EST] superfly15 lol
[Nov 20, 2011 8:57:17 PM EST] Xtraderr is this sem still on
[Nov 20, 2011 8:57:35 PM EST] InvestorsLive yea just got interupted by the thingy I mentioned in first paragraph on the scan Fri
[Nov 20, 2011 8:57:48 PM EST] InvestorsLive interrupted*
[Nov 20, 2011 8:57:58 PM EST] InvestorsLive any further questions guys?
[Nov 20, 2011 8:58:02 PM EST] InvestorsLive u must have some goodies
[Nov 20, 2011 8:58:10 PM EST] ChopStockTrader the pre scans are just looking for stocks that have range
[Nov 20, 2011 8:58:23 PM EST] InvestorsLive yup cheat sheet
[Nov 20, 2011 8:58:26 PM EST] InvestorsLive for the morning
[Nov 20, 2011 8:58:36 PM EST] InvestorsLive ok what was on scan last night, and in play yesterday that we’re familiar with
[Nov 20, 2011 8:58:38 PM EST] InvestorsLive that is up today?
[Nov 20, 2011 8:58:40 PM EST] InvestorsLive and in play
[Nov 20, 2011 8:58:52 PM EST] Xtraderr yo nate could u post an image of ur monitor set up
[Nov 20, 2011 8:58:56 PM EST] InvestorsLive ok … bam …. then you are familiar with it … and can have a plan heading into open
[Nov 20, 2011 8:59:01 PM EST] Xtraderr screen shot i mean
[Nov 20, 2011 8:59:15 PM EST] InvestorsLive of what monitors or the desktop?
[Nov 20, 2011 8:59:20 PM EST] autumnalcity what you said about managing risk with the house’s money was really helpful… do you always “nibble” to enter a play (i.e. with 1/3 or 1/2?)… is there a setup where you take a full bite right off of the bat?
[Nov 20, 2011 8:59:25 PM EST] Xtraderr desktop
[Nov 20, 2011 8:59:30 PM EST] Xtraderr screen shot
[Nov 20, 2011 8:59:45 PM EST] rico17010 yeah any full bites?
[Nov 20, 2011 8:59:50 PM EST] InvestorsLive autumn – part of trading is always adapting …
[Nov 20, 2011 8:59:59 PM EST] InvestorsLive in this market if you full bite you’re get your head taken out
[Nov 20, 2011 9:00:00 PM EST] InvestorsLive off
[Nov 20, 2011 9:00:21 PM EST] InvestorsLive sure I’m sure they’ll be a time where I hit and kill again but right now … you can full size hit and get killed
[Nov 20, 2011 9:00:28 PM EST] rico17010 hmmm.good answer
[Nov 20, 2011 9:00:29 PM EST] InvestorsLive I like leaving room to add in in this market
[Nov 20, 2011 9:00:43 PM EST] InvestorsLive X on my other PC I’ll send u later or in AM
[Nov 20, 2011 9:00:52 PM EST] Xtraderr aight
[Nov 20, 2011 9:01:03 PM EST] autumnalcity so you basically size in according to your conviction in the setup… full size would be basically fully convinved it’s playing out the way you thought?
[Nov 20, 2011 9:01:23 PM EST] Derffie so Nate.. are we entering window dressing time when winners just keep winning.. for no reason other than that they have been winners?
[Nov 20, 2011 9:02:10 PM EST] InvestorsLive I size in according to like … IOC for example $1 + range so am I going to go in 2k right away? … no
[Nov 20, 2011 9:02:16 PM EST] InvestorsLive 2k being full size typically
[Nov 20, 2011 9:02:34 PM EST] InvestorsLive if it’s gearing good chance I could lose 1.00-1.50 on a breakout on IOC
[Nov 20, 2011 9:02:56 PM EST] InvestorsLive so … start in 500 … give a .50 cents to a buck range … to get a feel, if it pans out add a little, houses money
[Nov 20, 2011 9:03:07 PM EST] InvestorsLive then when/if it cracks w/ SPY and or big vol downside wahtever add in full
[Nov 20, 2011 9:03:17 PM EST] basher can you give another example of averaging in? sometimes you average in on pops and then cover into the washout but it’s not dependent on SPY
[Nov 20, 2011 9:03:44 PM EST] autumnalcity so in the case of IOC if the stock never went in your direction, just kept rising, and you’re in with 500, when would you have stopped out?
[Nov 20, 2011 9:03:44 PM EST] InvestorsLive http://www.investorsunderground.com/img/VXAEODJPVC.png
[Nov 20, 2011 9:03:48 PM EST] rude1 how do you figure breakout 1$ range?
[Nov 20, 2011 9:03:49 PM EST] InvestorsLive KITD for example
[Nov 20, 2011 9:04:02 PM EST] InvestorsLive if you started into it knowing it had a big chart
[Nov 20, 2011 9:04:11 PM EST] InvestorsLive you’re not going to go full size but on a pop thru $12 u may start in
[Nov 20, 2011 9:04:20 PM EST] InvestorsLive and then add in a bit more ANTICIPATING back under $12
[Nov 20, 2011 9:04:23 PM EST] InvestorsLive w/ a full size stop at highs
[Nov 20, 2011 9:04:32 PM EST] InvestorsLive but you’re not just going to go in full size on a random pop
[Nov 20, 2011 9:05:07 PM EST] InvestorsLive autumnal – probably $500-600 buck risk is typical, try not to let losers run more than $1k against me altho it may happen
[Nov 20, 2011 9:05:22 PM EST] InvestorsLive hence the $1-1.50 range I think I wrote in chat
[Nov 20, 2011 9:05:39 PM EST] InvestorsLive rude1 – just based on price action, prior resistance etc
[Nov 20, 2011 9:05:59 PM EST] autumnalcity do you often find yourself trying to decide between either a. getting out of a trade entirely? or b. nibbling on a bit more? It seems like you would…
[Nov 20, 2011 9:06:11 PM EST] rude1 ok i see it in the daily
[Nov 20, 2011 9:06:21 PM EST] autumnalcity I.e. at 50.50, you could either just get out and call it a clean out…. OR.. add a bit more short and average in
[Nov 20, 2011 9:06:31 PM EST] InvestorsLive if ur trade isn’t panning out as planned u should cut ur loss
[Nov 20, 2011 9:06:33 PM EST] InvestorsLive like I did on PKT
[Nov 20, 2011 9:06:40 PM EST] InvestorsLive didn’t break down, was holding up so I cut it off
[Nov 20, 2011 9:06:47 PM EST] InvestorsLive I had started in, started to fade was in full size
[Nov 20, 2011 9:07:09 PM EST] InvestorsLive so I was wrong and stopped out
[Nov 20, 2011 9:07:11 PM EST] InvestorsLive didn’t do as I thought
[Nov 20, 2011 9:07:23 PM EST] InvestorsLive sure autumn- all depends on the chart
[Nov 20, 2011 9:07:36 PM EST] InvestorsLive I like to play good r/r and near breaks that would bring a washout
[Nov 20, 2011 9:07:50 PM EST] InvestorsLive just like NLST shorts 4.05-4.08 Friday
[Nov 20, 2011 9:08:27 PM EST] InvestorsLive 3.90 area a magnet couple times, snapped so took washout sub .90s and waited for next opp
[Nov 20, 2011 9:08:41 PM EST] autumnalcity k
[Nov 20, 2011 9:09:22 PM EST] InvestorsLive I like to risk $500-750 on a trade cuz I can make that back, but if I am right and it’s a instant $500+ bucks faster than I anticipated more often than not I’ll lock in
[Nov 20, 2011 9:09:25 PM EST] InvestorsLive Im here for income
[Nov 20, 2011 9:09:29 PM EST] InvestorsLive not to wonder where it COULD go
[Nov 20, 2011 9:09:37 PM EST] InvestorsLive hey its there now for the taking, I take it
[Nov 20, 2011 9:10:09 PM EST] InvestorsLive I leave a lot of table, but whatever
[Nov 20, 2011 9:10:18 PM EST] InvestorsLive if it happens mad quick I usually just lock at least 75% of it in
[Nov 20, 2011 9:10:25 PM EST] InvestorsLive let a little ride like I did with NLST
[Nov 20, 2011 9:10:30 PM EST] InvestorsLive but it kept holding so locked rest in
[Nov 20, 2011 9:10:49 PM EST] basher so on KITD. you started in on the pop over $12 and then added in when? when the chart started to look like it was going down again towards $12 around 1:45?
[Nov 20, 2011 9:10:54 PM EST] MilesJStoner I like that IL
[Nov 20, 2011 9:11:18 PM EST] InvestorsLive I didn’t trade KITD that was the one in chat I swore and said Sh*T what a text book play I F*cking missed
[Nov 20, 2011 9:11:47 PM EST] basher haha. so hypothetically where would you add in?
[Nov 20, 2011 9:11:53 PM EST] InvestorsLive KITD I can send u what I wrote again 1 sec
[Nov 20, 2011 9:12:08 PM EST] ChopStockTrader KITD hit every style in the room…
[Nov 20, 2011 9:12:32 PM EST] Laura I didn’t take that one and I should have
[Nov 20, 2011 9:13:03 PM EST] ChopStockTrader it was a good earnings…yadda. It had good pre action…Muddy. it ended up being a good short
[Nov 20, 2011 9:13:18 PM EST] InvestorsLive (Nov 20-21:04) InvestorsLive: if you started into it knowing it had a big chart (Nov 20-21:04) InvestorsLive: you’re not going to go full size but on a pop thru $12 u may start in (Nov 20-21:04) InvestorsLive: and then add in a bit more ANTICIPATING back under $12 (Nov 20-21:04) InvestorsLive: w/ a full size stop at highs (Nov 20-21:04) InvestorsLive: but you’re not just going to go in full size on a random pop
[Nov 20, 2011 9:13:21 PM EST] ChopStockTrader everyone had a chance at the buffet on that one
[Nov 20, 2011 9:13:21 PM EST] InvestorsLive re: KITD
[Nov 20, 2011 9:14:04 PM EST] InvestorsLive any other questions guys?
[Nov 20, 2011 9:14:23 PM EST] basher okay, and KITD you would be looking for late day fade, so 2pm+
[Nov 20, 2011 9:14:33 PM EST] InvestorsLive ideally
[Nov 20, 2011 9:14:44 PM EST] InvestorsLive or just SPY drop or any downside action/vol on $12
[Nov 20, 2011 9:14:54 PM EST] InvestorsLive anticipating 12.10-12.08-12.07 etc
[Nov 20, 2011 9:15:01 PM EST] InvestorsLive with a full size for $12 drop and wash
[Nov 20, 2011 9:15:08 PM EST] InvestorsLive again its about knowing risk
[Nov 20, 2011 9:15:22 PM EST] InvestorsLive you started in on the $12 breakout and speed up hypothetically
[Nov 20, 2011 9:15:30 PM EST] InvestorsLive so lets call it 12.25-12.30
[Nov 20, 2011 9:15:37 PM EST] InvestorsLive 12.10 snaps on a late day fade
[Nov 20, 2011 9:15:46 PM EST] InvestorsLive might add in 12.07-12.08 or 12.05
[Nov 20, 2011 9:15:51 PM EST] InvestorsLive now 12.20 ish avg for $12 break
[Nov 20, 2011 9:15:54 PM EST] InvestorsLive cover some 11.90
[Nov 20, 2011 9:15:55 PM EST] InvestorsLive etc
[Nov 20, 2011 9:16:04 PM EST] InvestorsLive but the point is … you have a stop loss in mind
[Nov 20, 2011 9:16:41 PM EST] basher cool. so when you’re in full size you’re risking 20-25c to make 30c?
[Nov 20, 2011 9:16:44 PM EST] Xtraderr what about CDTI
[Nov 20, 2011 9:16:50 PM EST] basher but good probability
[Nov 20, 2011 9:16:53 PM EST] Xtraderr huge squeeze that morning
[Nov 20, 2011 9:16:54 PM EST] InvestorsLive all relative to the price action basher
[Nov 20, 2011 9:16:58 PM EST] InvestorsLive could be .50
[Nov 20, 2011 9:16:59 PM EST] InvestorsLive could be .10
[Nov 20, 2011 9:17:15 PM EST] InvestorsLive just like IOC vs. KITD
[Nov 20, 2011 9:17:36 PM EST] InvestorsLive its all realtive to prior top/channel etc (like I went over in the one I said to read before tonights)
[Nov 20, 2011 9:17:47 PM EST] InvestorsLive all relative to price action
[Nov 20, 2011 9:18:10 PM EST] InvestorsLive KITD may have only been .20 cents based on prior highs whereas IOC was .50
[Nov 20, 2011 9:18:11 PM EST] InvestorsLive etc
[Nov 20, 2011 9:18:17 PM EST] InvestorsLive less shares on IOC cuz of the range
[Nov 20, 2011 9:18:20 PM EST] InvestorsLive etc
[Nov 20, 2011 9:18:28 PM EST] InvestorsLive anything else Ic an help with or we ready for Monday?
[Nov 20, 2011 9:18:44 PM EST] basher cool thanks. just wanted to understand the average r/r
[Nov 20, 2011 9:19:00 PM EST] ChopStockTrader we need to retire KITDs chart for the last week or so…
[Nov 20, 2011 9:19:02 PM EST] InvestorsLive that’s why I always say its not a set #
[Nov 20, 2011 9:19:10 PM EST] InvestorsLive .10 .30 .50 could be $2 (AAPL)
[Nov 20, 2011 9:19:18 PM EST] InvestorsLive its all relative to the trend you’re trading
[Nov 20, 2011 9:19:33 PM EST] InvestorsLive Yea Chop
[Nov 20, 2011 9:19:37 PM EST] InvestorsLive sux some of these great set ups
[Nov 20, 2011 9:19:44 PM EST] InvestorsLive amazing then like 2 days later
[Nov 20, 2011 9:19:46 PM EST] InvestorsLive 60k vol
[Nov 20, 2011 9:19:49 PM EST] InvestorsLive and then they crack 70 cents
[Nov 20, 2011 9:19:54 PM EST] InvestorsLive its like WTF
[Nov 20, 2011 9:20:01 PM EST] InvestorsLive such a great chart set up … busted cuz no vol
[Nov 20, 2011 9:20:09 PM EST] InvestorsLive if they kept their vol woulda been all over ’em
[Nov 20, 2011 9:21:24 PM EST] InvestorsLive we good?
[Nov 20, 2011 9:21:29 PM EST] InvestorsLive going onceeeeeeeeeeee
[Nov 20, 2011 9:21:34 PM EST] tputs001 yup. thanks for your help.
[Nov 20, 2011 9:21:37 PM EST] InvestorsLive and u guys know .. real time during day
[Nov 20, 2011 9:21:42 PM EST] InvestorsLive if u see some of this stuff setting up
[Nov 20, 2011 9:21:45 PM EST] InvestorsLive I’m always there to help
[Nov 20, 2011 9:21:55 PM EST] InvestorsLive some times best is real time examples
[Nov 20, 2011 9:22:03 PM EST] InvestorsLive just tellme what ur looking at and ur plan
[Nov 20, 2011 9:22:04 PM EST] InvestorsLive etc
[Nov 20, 2011 9:22:13 PM EST] Aaron thanks il
[Nov 20, 2011 9:23:18 PM EST] spazztrader tank you il
[Nov 20, 2011 9:24:23 PM EST] InvestorsLive by the way guys I know I haven’t asked in a while
[Nov 20, 2011 9:24:24 PM EST] InvestorsLive but……
[Nov 20, 2011 9:24:32 PM EST] InvestorsLive if you guys bored after studying all night
[Nov 20, 2011 9:24:40 PM EST] InvestorsLive and wanna write an investimonials …..
[Nov 20, 2011 9:24:41 PM EST] InvestorsLive 🙂
[Nov 20, 2011 9:24:42 PM EST] ChopStockTrader leave a review
[Nov 20, 2011 9:24:51 PM EST] ChopStockTrader dam beat me to it
[Nov 20, 2011 9:25:16 PM EST] ajtrader im game …:)
[Nov 20, 2011 9:25:47 PM EST] ajtrader its just hard cause I don’t get bored in the room to often…
[Nov 20, 2011 9:26:02 PM EST] InvestorsLive http://investimonials.com/websites/reviews-investors-underground-live-trading-chatroom.aspx
[Nov 20, 2011 9:26:03 PM EST] InvestorsLive http://investimonials.com/twitter/reviews-twitter-InvestorsLive.aspx
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