[May 30, 2011 8:00:08 PM EDT] InvestorsLive Hi All
[May 30, 2011 8:00:14 PM EDT] InvestorsLive Hope everyone had a good long weekend!
[May 30, 2011 8:00:45 PM EDT] InvestorsLive We’ll have the same format as always – we’ll go over each question and I’ll open it up at the end
[May 30, 2011 8:00:53 PM EDT] InvestorsLive please don’t ask random questions when we’re in the middle of another topic
[May 30, 2011 8:00:58 PM EDT] InvestorsLive and that’s it – thx guys
[May 30, 2011 8:01:15 PM EDT] InvestorsLive QUESTION: Now that the new OTC Level 2 retail size display rules have been in effect for a little while, what is your take on it. Good or bad for traders?
[May 30, 2011 8:01:36 PM EDT] InvestorsLive I haven’t really seen any big different with it. I’m fully used to it … it might even add to some of the momentum like we saw with NEOM on Friday … many of the times there was multi hundred thousand share bids lined up which could have fueled some of the momentum.
[May 30, 2011 8:01:50 PM EDT] InvestorsLive difference = different
[May 30, 2011 8:01:52 PM EDT] InvestorsLive At first I was scared wondering oh no… since I scalp in and out of a lot of things via many means and hiding sizes etc … but in reality I haven’t seen much difficulty in adapting. I’d say ‘no change’
[May 30, 2011 8:03:00 PM EDT] InvestorsLive most of the market makers that are controlling stocks (ie: WDCO BMAS AYME ARCM BMIC FANC and any other full service firm that you usually see in promo stocks – any whom are making markets
[May 30, 2011 8:03:39 PM EDT] InvestorsLive hide all their orders anyway so its mostly just retail which who knows maybe it helps them panic big sellers out prior to resistance and stuff we haven’t really seen it yet besides LEXG JAMN etc
[May 30, 2011 8:03:54 PM EDT] InvestorsLive but so far.. I’d say it doesn’t matter and we’ve had some ridic runners since
[May 30, 2011 8:04:05 PM EDT] InvestorsLive any questions on that topic?
[May 30, 2011 8:04:28 PM EDT] FreezeFrame nope
[May 30, 2011 8:04:35 PM EDT] InvestorsLive QUESTION: Can you tell something about working with open positions. When you enter after the panic, and you get the bottom. I often see that you are closing in 2 or 3 parts. So is there any rule that you have, when to take all out and when to scale out.
[May 30, 2011 8:05:01 PM EDT] InvestorsLive Nope, like I always talk about (especially in the 3 recommended seminars for new members on the new member page) I’m a trader, I trade for income .. I do what I can control. If I nail a move right away .. why wouldn’t I lock some in? After all I’m not here to ‘hope’ it goes higher… not here because I think it ‘could’ keep going
[May 30, 2011 8:05:30 PM EDT] InvestorsLive … I did what I know, nailed it.. now pay myself and THEN let it test with some already locked in… I find much better success with scaling in and out – prevents taking losses to soon if a trade isn’t ready to break out/break down yet and I’m already full size. Allowing it to trade around a bit, anticipate it and then add in once you have a padding has given me much better success.
[May 30, 2011 8:06:42 PM EDT] InvestorsLive I split it up because I’m never going to hold it bottom to top, and the only way I’ll even get close is if I lock some in.. there are so many times that I’ve nailed something in the past…
[May 30, 2011 8:06:47 PM EDT] InvestorsLive keep holding thinking higher
[May 30, 2011 8:07:02 PM EDT] InvestorsLive and then end up getting stuck on the next down turn and get so mad at myself.. “why didnt I just lock some in” etc
[May 30, 2011 8:07:16 PM EDT] InvestorsLive look at all the early buyers on ESYL that day that didn’t lock in on any of the dip bounces
[May 30, 2011 8:07:37 PM EDT] InvestorsLive any questions on that topic?
[May 30, 2011 8:07:56 PM EDT] splendores no
[May 30, 2011 8:08:18 PM EDT] InvestorsLive the question also asked about multiple positions but didnt really go into it – if you wanted/needed a comment there – I think this also helps with multiple stock trades as well
[May 30, 2011 8:08:35 PM EDT] InvestorsLive if you go for the intiial move, nail it… and know you WANT to hold … but also see 2 other stocks setting up
[May 30, 2011 8:08:46 PM EDT] InvestorsLive it allows you to lock some profits in, pay yourself and then reduce risk a bit
[May 30, 2011 8:08:50 PM EDT] InvestorsLive and focus on nailing the next
[May 30, 2011 8:09:00 PM EDT] InvestorsLive rather than have all your eggs out at once
[May 30, 2011 8:09:27 PM EDT] InvestorsLive QUESTION: And how do you manage position when you take first profits and then trade starts to go against you and it goes past the price on which you took first profit. Are you closing when price is still rising or do you wait for first red candle or do you go out based on level2.
[May 30, 2011 8:09:43 PM EDT] InvestorsLive Again (it’s fine… but based on these questions I can tell the new member page hasn’t really been reviewed in depth) … this WILL help you and I suggest doing so BUT the case that you’ve mentioned …. really doesn’t apply. As I go over in those seminars… I buy anticipating a break
[May 30, 2011 8:09:52 PM EDT] InvestorsLive … if as you’ve suggested I already locked some in then I have a padding. Once I’ve locked some in my stop can either be a) my entry b) prior support or c) stop at even (loss + gain locked in = scratch). This is another reason why I have a ‘high’ win percentage because most cases I can stop near entry on the trade and still have a bit of profit locked in.
[May 30, 2011 8:10:49 PM EDT] InvestorsLive any questions on that topic?
[May 30, 2011 8:11:34 PM EDT] InvestorsLive this is just how I trade.. and I trade well .. others dont lock in … others can ride smaller positions from bottom to top (long) or top to bottom (short) because heck maybe they only have $1-3k in the position and a 10% move doesn’t really give them much risk …
[May 30, 2011 8:12:09 PM EDT] InvestorsLive but the way I trade… the way I have success… I can see the move forming and 8 outta 10 times I can nail the break up or break down
[May 30, 2011 8:12:31 PM EDT] InvestorsLive and my success isn’t holding and hoping it keeps going, my success is taking the profits that I have my nailing the move I saw
[May 30, 2011 8:12:42 PM EDT] InvestorsLive everyone is different… that’s just me
[May 30, 2011 8:13:06 PM EDT] InvestorsLive and believe me .. I ‘try’ to hold … and most times bites me and I get mad that I even tried it…
[May 30, 2011 8:13:18 PM EDT] InvestorsLive LEXG sure… shoulda coulda woulda
[May 30, 2011 8:13:23 PM EDT] InvestorsLive but look at AVVC what happened
[May 30, 2011 8:13:42 PM EDT] InvestorsLive had I pulled an LEXG and locked more in early on AVVC I wouldnt have lost as much as I did on that
[May 30, 2011 8:13:46 PM EDT] splendores what do you mean with “break”?
[May 30, 2011 8:13:56 PM EDT] InvestorsLive break up or break down
[May 30, 2011 8:14:09 PM EDT] splendores ok, as in change of momentum?
[May 30, 2011 8:14:15 PM EDT] InvestorsLive right
[May 30, 2011 8:14:18 PM EDT] splendores kk
[May 30, 2011 8:14:21 PM EDT] InvestorsLive I focus on moves off consolidation most times
[May 30, 2011 8:14:39 PM EDT] InvestorsLive or fades off consolidation/tops/lower highs etc
[May 30, 2011 8:15:03 PM EDT] InvestorsLive any other questions?
[May 30, 2011 8:15:20 PM EDT] splendores no
[May 30, 2011 8:15:26 PM EDT] InvestorsLive QUESTION: From past experience do pre-market gainers always have big gaps when they open. As in, is the risk reward better if you get into a position on a very high volume pre-market stock that has been up from the previous day. For example this week, the winners from Pre-Market all were great such as (FTWR, QTWW and SIFY).
[May 30, 2011 8:15:42 PM EDT] InvestorsLive Well, a pre market ‘gainer’ is a gap regardless… that’s why it’s on scan and that’s what a gainer is .. if it’s on scan pre market because it’s a ‘gainer’ that means its opening higher than it closed, that’s the definition of a gap, so yes. If you catch an entry that makes sense pre market and has a trend… sure you could do it .. I’m in front of a PC too many hours a day anyway so I try not to force myself to sit there 7am-9:30am because I decided to start trading early… but occasionally I do.
[May 30, 2011 8:16:31 PM EDT] InvestorsLive But this question is asking a more objective yes or no to a question that doesn’t have a yes or no answer. It’s relative to the play at hand. SIFY had a great trend pre, pulled back and then started to break off that support again, yes you could have taken it and did quite well. Otherwise you can do as I do, if you wanted to long it look for a pull out of open and if it holds the first support level (from pre) take it long… stop if it fades off it. But you, like me… can probably see very clearly how much whiplash happens at 9:30 to 9:31AM – so .. if taking a ‘chance’ is your thing go for it .. but I like to play with better risk/reward.
[May 30, 2011 8:18:21 PM EDT] InvestorsLive I like to scalp the first 10-15 minutes and then look for a move that I can take for a ‘trade’ once things are chillin’ and have a chance to iron out
[May 30, 2011 8:18:49 PM EDT] InvestorsLive scalping is fine but nailing a ‘trade’ ie: the short and fade back red .70-1.00 + a share is much more fun then nailing .05 or 10 cents a share
[May 30, 2011 8:19:08 PM EDT] InvestorsLive and much less head ache – so I try not to trade much free.. sure sometimes I do … but most cases I just wait for things to set up
[May 30, 2011 8:19:36 PM EDT] InvestorsLive any questions on this topic?
[May 30, 2011 8:19:46 PM EDT] splendores Yes, i have a question relate to the one regarding gap up. Is it more likely that you get a gap up if a stock closes near the hod the day before or is this a risky strategy?
[May 30, 2011 8:20:11 PM EDT] InvestorsLive for OTCs that is a method I like
[May 30, 2011 8:20:21 PM EDT] InvestorsLive if it has strong volume and momentum and on scanner
[May 30, 2011 8:20:29 PM EDT] InvestorsLive but no, like I always say … for Nasdaqs no not at all
[May 30, 2011 8:20:48 PM EDT] splendores ok
[May 30, 2011 8:21:16 PM EDT] FreezeFrame I would assume that in that scenario, you would do a short?
[May 30, 2011 8:21:43 PM EDT] InvestorsLive in what case a short?
[May 30, 2011 8:21:52 PM EDT] Laura for Nasdaqs?
[May 30, 2011 8:21:52 PM EDT] FreezeFrame in splendores example
[May 30, 2011 8:22:07 PM EDT] InvestorsLive no I wouldn’t assume that at all
[May 30, 2011 8:22:10 PM EDT] Laura no
[May 30, 2011 8:22:28 PM EDT] splendores I would hope to play the gap up (long overnight)
[May 30, 2011 8:22:40 PM EDT] Laura OTCs closing strong Nate likes for gap in morning
[May 30, 2011 8:22:52 PM EDT] Laura no follow thru, get out
[May 30, 2011 8:22:59 PM EDT] InvestorsLive I wouldn’t just assume random stuff like that Freeze – we play based mostly on technical analysis stuff, if a stock closes at the HOD
[May 30, 2011 8:23:07 PM EDT] InvestorsLive not sure how you can assume its a short
[May 30, 2011 8:23:08 PM EDT] InvestorsLive next day
[May 30, 2011 8:23:12 PM EDT] FreezeFrame ok
[May 30, 2011 8:23:39 PM EDT] InvestorsLive you take the examples like parabolic gap up action for potential short ….
[May 30, 2011 8:23:42 PM EDT] InvestorsLive or late day fade etc
[May 30, 2011 8:23:52 PM EDT] InvestorsLive the ones I go over in the 3 fav set ups
[May 30, 2011 8:24:00 PM EDT] InvestorsLive if u haven’t reviewed those yet
[May 30, 2011 8:24:04 PM EDT] InvestorsLive any other questions guys on that topic?
[May 30, 2011 8:24:11 PM EDT] splendores no
[May 30, 2011 8:24:32 PM EDT] FreezeFrame I’ll review those 3 fav setups again…thanks
[May 30, 2011 8:24:36 PM EDT] InvestorsLive QUESTION: Can you talk about how to trade pre market/after market… what kind of stuff do you look to play and is it the same setups? One example is I’ve been seeing the stocks that gap up big premarket usually have follow thru during the day… is that a setup to look for? Talk about what you’re looking for when you trade pre-market /after hours.
[May 30, 2011 8:24:55 PM EDT] InvestorsLive I wouldn’t make that assumption because for every gap up you see that do that I could probably show you two or three that don’t. So I wouldn’t go about assuming it’s a good strategy to just buy all stocks that gap up, sometimes their opening print is their high point.
[May 30, 2011 8:25:25 PM EDT] InvestorsLive I wouldn’t recommend trading pre market or after hours until a) you’ve got cash to burn and b) you can make these decisions yourself without needing guidance to make the trade. Why? Well.. many times I have fun just playing small after hours …. but hey … there’s also many times I wish I just went to the gym and now am pissed I lost on a random after hours trade. After hours you take out the high frequency trading so you’re playing more against people’s emotions, which I’m pretty good at. I look for over extensions whether it’s a squeeze, breakout and pop on a thin stock or fade action and washout/panic to the downside – those are the only 2 ways I play after hours (ie: earnings) and I’m in .. out … in seconds.
[May 30, 2011 8:26:58 PM EDT] InvestorsLive Simply put – focus on trading the set ups during market hours, get good at that … then when you feel confident to pull trigger pre market … then do it – just like the bounces my same advice
[May 30, 2011 8:28:09 PM EDT] InvestorsLive Any questions on that topic?
[May 30, 2011 8:28:47 PM EDT] InvestorsLive QUESTIONS: Can you explain “the low/high float”? is this something you look at before you buy?
[May 30, 2011 8:29:07 PM EDT] InvestorsLive You don’t really need to ‘look at’ it before buying… it’s something that comes quite obvious. Take for example SIFY and CDTI this past week. I have no problem oplaying 10,000 shares in SIFY on a breakout or breakdown move…. but I sure as hell won’t play 10,000 shares in the same price range stock like CDTI. Take the range on CDTI … you need to be ok with an immediate .30-.50 cent gain/loss against/for you when trading the stock, whereas it’s ‘highly unlikely’ that SIFY is going to spike .30-.50 cents randomly as a lower float former runner squeezer does.
[May 30, 2011 8:29:41 PM EDT] InvestorsLive by quite obvious – I mean you don’t need to do any review of share structure etc… just pull it up.. how’s it trading …
[May 30, 2011 8:29:59 PM EDT] InvestorsLive is it trading on 100k shares and flying around, 10 million shares and moving a few pennies at a time … etc
[May 30, 2011 8:31:04 PM EDT] Laura you’ll start to know low float ones the longer you trade
[May 30, 2011 8:31:11 PM EDT] InvestorsLive so the main thing to take home from this just pull up price action on SIFY Friday and CDTI Thurs and Friday
[May 30, 2011 8:31:25 PM EDT] InvestorsLive exactly – Laura and it’s not even that you need to know the tickers either…
[May 30, 2011 8:31:31 PM EDT] Laura no
[May 30, 2011 8:31:33 PM EDT] InvestorsLive its just price action that can tell ya
[May 30, 2011 8:31:41 PM EDT] Laura but we just know tons that are
[May 30, 2011 8:31:45 PM EDT] InvestorsLive yup
[May 30, 2011 8:31:57 PM EDT] InvestorsLive MXC PDO we all know low floats
[May 30, 2011 8:32:02 PM EDT] Laura and you can look on yahoo finance, shortsqueeze.com etc
[May 30, 2011 8:32:04 PM EDT] InvestorsLive just some you remember because of famous runs
[May 30, 2011 8:32:05 PM EDT] Laura yep
[May 30, 2011 8:32:29 PM EDT] InvestorsLive any other questions on that topic?
[May 30, 2011 8:32:40 PM EDT] Breadwinner nope. thanks
[May 30, 2011 8:32:50 PM EDT] Laura low float on higher priced ones is easy too
[May 30, 2011 8:33:00 PM EDT] Laura usually the spread is very wide
[May 30, 2011 8:33:05 PM EDT] Laura TZOO for instance
[May 30, 2011 8:33:18 PM EDT] InvestorsLive was just about to say that
[May 30, 2011 8:33:20 PM EDT] InvestorsLive great example
[May 30, 2011 8:33:29 PM EDT] InvestorsLive and the other thing I usually do in my head ….
[May 30, 2011 8:33:37 PM EDT] InvestorsLive when you see low vol stocks riding up huge $/share moves
[May 30, 2011 8:33:44 PM EDT] Laura but the MOFOs can run if you can take the spread
[May 30, 2011 8:33:51 PM EDT] InvestorsLive sometimes I take a step back and devide pirce by 10
[May 30, 2011 8:34:00 PM EDT] InvestorsLive just to kinda put it in your head
[May 30, 2011 8:34:02 PM EDT] InvestorsLive to relax a min
[May 30, 2011 8:34:07 PM EDT] InvestorsLive you’re dealing with a l/f
[May 30, 2011 8:34:17 PM EDT] InvestorsLive for example TZOO move … $70 to $110
[May 30, 2011 8:34:19 PM EDT] InvestorsLive wild right?
[May 30, 2011 8:34:29 PM EDT] Laura I like the higher priced ones on e/r but the safest are the higher float
[May 30, 2011 8:34:30 PM EDT] InvestorsLive $70 ro $85 you’re like wow this is def short
[May 30, 2011 8:34:33 PM EDT] InvestorsLive up $16
[May 30, 2011 8:34:36 PM EDT] InvestorsLive $15*
[May 30, 2011 8:34:40 PM EDT] Laura yeah, and you are fcked
[May 30, 2011 8:34:42 PM EDT] InvestorsLive but if the stock went up $7 to $8.50 …
[May 30, 2011 8:34:47 PM EDT] InvestorsLive would you think no brainer short?
[May 30, 2011 8:34:50 PM EDT] Laura right
[May 30, 2011 8:35:13 PM EDT] InvestorsLive that’s just some of my thinking sometimes and on scan… like DBLE and others in past you’ll see me mention
[May 30, 2011 8:35:33 PM EDT] InvestorsLive “Note the volume here, real low so remember although price action is big doesn’t mean it’s “up” a lot”
[May 30, 2011 8:35:49 PM EDT] InvestorsLive I always mention that on charts you prob have seen it dozen times in past few months
[May 30, 2011 8:36:35 PM EDT] Laura and knowing float and vol in your head is kinda neat, cuz there are some fairly low vol stocks I would play based on past behavior
[May 30, 2011 8:37:02 PM EDT] Laura dudes, PM Mudd on this, he knows so many in his brain
[May 30, 2011 8:37:07 PM EDT] InvestorsLive any other questions guys on the topic? one other thing while on topic since many always seem to forget
[May 30, 2011 8:37:11 PM EDT] InvestorsLive if Mudd says … former l/f
[May 30, 2011 8:37:15 PM EDT] InvestorsLive what’s that mean?
[May 30, 2011 8:37:30 PM EDT] FreezeFrame the stock is known to be a low floater?
[May 30, 2011 8:37:37 PM EDT] InvestorsLive not known to be
[May 30, 2011 8:37:38 PM EDT] InvestorsLive but
[May 30, 2011 8:37:38 PM EDT] InvestorsLive is
[May 30, 2011 8:37:41 PM EDT] Laura well low float is a given
[May 30, 2011 8:37:54 PM EDT] InvestorsLive so former runner + lower float
[May 30, 2011 8:37:55 PM EDT] Laura but it is known to run
[May 30, 2011 8:38:35 PM EDT] InvestorsLive QUESTION: Can you explain a little about how you “eyeball” the support of a chart.
[May 30, 2011 8:39:07 PM EDT] InvestorsLive I know I mention this a lot but many times I can tell who has or hasn’t reviewed all my charts on the new member page
[May 30, 2011 8:39:12 PM EDT] InvestorsLive so do it already! then ask
[May 30, 2011 8:39:13 PM EDT] InvestorsLive but!
[May 30, 2011 8:39:30 PM EDT] InvestorsLive You can use the prior support as a potential, but that’s only for bounce play ideas. More often than not I let the chart tell me where support is… you can anticipate the break off support but no reason to randomly buy a stock prior to forming a base. You can always get a good idea by taking a look at the 3 month and 6 month charts.
[May 30, 2011 8:39:49 PM EDT] InvestorsLive Are you buying a choppy chart? (ie: no defined support in the near term just been a much of random movement) or are you buying something nearing a technical breakout (ie: consolidation on a 3 month chart for nearly 5 weeks at $3.25 failed 3 times at $3.50 break and now just broke to the upside with volume off $3.40 support – risk vs. reward? intraday breakout, risk if 3.40 doesn’t hold and anticipate 3.50 break)
[May 30, 2011 8:40:27 PM EDT] InvestorsLive things to keep in mind (take the daily chart out of the picture): whole numbers, half dollar marks (.50s) etc
[May 30, 2011 8:41:21 PM EDT] InvestorsLive I focus on BIG charts in the morning or prior days (ie: stocks with a near term big range)
[May 30, 2011 8:41:38 PM EDT] InvestorsLive and look for them to settle down and eye the break off support for higher
[May 30, 2011 8:41:42 PM EDT] InvestorsLive or late day fade off support
[May 30, 2011 8:41:50 PM EDT] InvestorsLive that’s what and how I eyeball for support
[May 30, 2011 8:41:55 PM EDT] InvestorsLive any questions on that?
[May 30, 2011 8:41:58 PM EDT] Breadwinner does it fail to break 3.50 because of bag holders there at that price?
[May 30, 2011 8:42:25 PM EDT] InvestorsLive that sounds like a timmite
[May 30, 2011 8:42:36 PM EDT] FreezeFrame what is a timmite?
[May 30, 2011 8:42:41 PM EDT] InvestorsLive ie: tim follower
[May 30, 2011 8:42:41 PM EDT] InvestorsLive lol
[May 30, 2011 8:42:49 PM EDT] splendores a termite?
[May 30, 2011 8:42:53 PM EDT] Breadwinner naw. you know me better than that dude.
[May 30, 2011 8:43:00 PM EDT] InvestorsLive no – just for whatever reason $3.50 was resistance
[May 30, 2011 8:43:02 PM EDT] InvestorsLive just an example
[May 30, 2011 8:43:09 PM EDT] InvestorsLive doesnt matter the reason
[May 30, 2011 8:43:21 PM EDT] InvestorsLive just an example, resistance for whatever reason
[May 30, 2011 8:43:28 PM EDT] Breadwinner i’m asking, doesn’t resistance = too many sellers at a certain price, and can’t move past?
[May 30, 2011 8:43:39 PM EDT] InvestorsLive right…
[May 30, 2011 8:43:43 PM EDT] InvestorsLive or not enough buyers to break
[May 30, 2011 8:43:48 PM EDT] Breadwinner ok
[May 30, 2011 8:43:50 PM EDT] InvestorsLive supply vs. demand
[May 30, 2011 8:43:54 PM EDT] InvestorsLive doesnt mean bag holders
[May 30, 2011 8:44:09 PM EDT] Breadwinner oh. ok. i understand the difference now
[May 30, 2011 8:44:18 PM EDT] InvestorsLive point is if you have a strong 3-6 month chart
[May 30, 2011 8:44:32 PM EDT] InvestorsLive and its nearing the resistance …. and perks off some support just below its prior tops
[May 30, 2011 8:44:41 PM EDT] InvestorsLive risk vs. reward to anticipate the break
[May 30, 2011 8:44:57 PM EDT] InvestorsLive if its sideways 3.40s…. starts to break up on strong vol $3.45 anticipate the break and can sell some into the pop
[May 30, 2011 8:45:04 PM EDT] InvestorsLive or sell if fail to hold .40s
[May 30, 2011 8:45:07 PM EDT] InvestorsLive thats a set up I like
[May 30, 2011 8:45:27 PM EDT] InvestorsLive any questions on this topic?
[May 30, 2011 8:45:32 PM EDT] FreezeFrame I assume it’s realitive to the price
[May 30, 2011 8:45:45 PM EDT] FreezeFrame 0.050 or 0.10
[May 30, 2011 8:45:46 PM EDT] InvestorsLive assume what is relative to the price?
[May 30, 2011 8:46:18 PM EDT] FreezeFrame not just $.5….but if the stock is lower price…breaks work with lower as well?
[May 30, 2011 8:46:29 PM EDT] InvestorsLive just used that price range as an example
[May 30, 2011 8:46:35 PM EDT] FreezeFrame ok
[May 30, 2011 8:46:37 PM EDT] InvestorsLive u can plug whatever numbers u want in as a secnario
[May 30, 2011 8:46:42 PM EDT] InvestorsLive scenario
[May 30, 2011 8:46:56 PM EDT] InvestorsLive QUESTION: How do you become long or short biased for a particular stock? For a pump-and-dump, it makes sense to be short biased (i.e. short any spikes) once the dump has started. But, for example, why where you short-biased on LNKD? And for charts, if a chart has had a 1 day run: long biased vs. if a chart has had a 2-3 day run: short biased. Something like that?
[May 30, 2011 8:47:27 PM EDT] InvestorsLive LNKD was short biased intraday – so in correct to think on a daily chart.. none of that matters… you could see it top many times, and each time it got to $103 levels (if I remember correctly) it had a lot of selling but little price action. LNKD was a very easy read and if you started into it and added on the fade you could nail it just about every time as I did (prior to the one day I lost on it). It had momentum on day 1 … some follow up day two and if it doesn’t continue people will start to be sellers on pops. Just like in OTC land … it’s all easy until the first seller, once the first sign of a fade setting up everyone is potentially now a seller.
[May 30, 2011 8:48:13 PM EDT] InvestorsLive Two times tho (2nd time was because it was a revenge trade) but the first time I lost I was up 3-4 times and never took it was greedy and got sloppy … but anyone who knows the first thing about technical analysis could see higher lows and higher highs forming off the base. The 2nd time I traded it was just a random short into a pop.
[May 30, 2011 8:48:50 PM EDT] InvestorsLive I think there is a better answer to this question
[May 30, 2011 8:48:59 PM EDT] InvestorsLive but LNKD is not a good stock to ask this question on
[May 30, 2011 8:49:06 PM EDT] InvestorsLive LNKD just an IPO with big range
[May 30, 2011 8:49:15 PM EDT] Laura agree
[May 30, 2011 8:49:23 PM EDT] Laura as most IPOs are
[May 30, 2011 8:49:28 PM EDT] InvestorsLive Again – if you reviewed the 3 fav set ups you’d see what set ups I like and why
[May 30, 2011 8:49:29 PM EDT] InvestorsLive BUT
[May 30, 2011 8:49:37 PM EDT] Laura until the volume disappears
[May 30, 2011 8:49:38 PM EDT] InvestorsLive set ups with BIG upside over course of a few days
[May 30, 2011 8:49:50 PM EDT] InvestorsLive I become increasingly short biased once it cracks … or fades late day etc
[May 30, 2011 8:49:58 PM EDT] InvestorsLive parabolic for short etc
[May 30, 2011 8:50:14 PM EDT] InvestorsLive I go over those in detail on purpose so if you havent reviewed them please do – will help you out huge
[May 30, 2011 8:50:58 PM EDT] InvestorsLive QUESTION: How do you think about reward-vs-risk in your trades? Sometimes I have seen you post that you are risking $1500, and then take profits of $300. (and other times you post profits of much greater than $1500) You often hear traders talk about taking trades only if they have a reward-to-risk of 2x or 3x, or they’ll take a trade with R/R of 1x if the win rate is greater than 50%. Since your win rate is something like 80%, do you find yourself taking trades of 0.2x – 0.5x R/R?
[May 30, 2011 8:51:39 PM EDT] InvestorsLive It depends what I go in the trade for – I don’t think I’ve ever said “risking $1.5k” so I’m not sure what you mean there that’s not a risk I am looking to take .. ever. This question is a bit weird (not really how I -Nate- trade) so not really sure how to answer it so I’ll tell you what I do, do… and that should help.
[May 30, 2011 8:51:58 PM EDT] InvestorsLive I focus on the 3 favorite set ups. I watch a stock trade, when it starts to break up or break down I take an initial position and can always add in if its a BIG chart and my thought is it’s going to pull back hard. If I think my risk is about .10 cents to the downside for a possible breakout of .30-.50 cents then I’ll more than likely have a full size of 3,000 shares … 3,000 x .30 … take my $1k ish and look for the next .. if I think my risk is .05-.07 and upside .10-.20 I may play 5,000 shares and so on and so forth… That’s how I trade, if I want to hold for .70-1.00+ I’ll probably start in 1/2 size and add take some off and hold 1,000 shares. It’s all relative to the risk vs. reward and chart set ups I’m playing.
[May 30, 2011 8:53:06 PM EDT] InvestorsLive for example with Muddy he risk $3k in a trade … so a 10% move is $300
[May 30, 2011 8:53:15 PM EDT] InvestorsLive which for me may be .03 or .06 cent move
[May 30, 2011 8:53:42 PM EDT] InvestorsLive so where I may be stopping out for $-500 bucks he may be down $5 bucks and holds it … then sells later on for +30% or nearly $1k
[May 30, 2011 8:53:58 PM EDT] InvestorsLive or… I may move the same move as him… and he makes $300 but I made $3k
[May 30, 2011 8:54:13 PM EDT] InvestorsLive there is pros and cons to every sorta trade .. but it’s your strength
[May 30, 2011 8:54:37 PM EDT] InvestorsLive I can’t trade like him, I suck at it and like instant gratification
[May 30, 2011 8:54:56 PM EDT] InvestorsLive I can control the trade I am in… I can find the move and that’s my strength so I take it
[May 30, 2011 8:55:16 PM EDT] InvestorsLive Muddy has more patience … plays smaller … and in the end sure sometimes I wish I could hold for 40-50%
[May 30, 2011 8:55:20 PM EDT] Laura everyone trades diff
[May 30, 2011 8:55:30 PM EDT] InvestorsLive but at the end of the day I suck trading his way… and he prob blows trading my way
[May 30, 2011 8:55:45 PM EDT] InvestorsLive but like L said … everyone is diff .. and you have to take your strength and run with it
[May 30, 2011 8:55:45 PM EDT] Laura exactly
[May 30, 2011 8:56:07 PM EDT] Laura thing is too, many days we let trades play out til eod
[May 30, 2011 8:56:32 PM EDT] Laura if we are up with good profit on a runner, it can be good to stay in til the end
[May 30, 2011 8:56:44 PM EDT] Laura but it can bit you on the %%% sometimes too, lol
[May 30, 2011 8:57:27 PM EDT] InvestorsLive right and on that note
[May 30, 2011 8:57:30 PM EDT] InvestorsLive for example
[May 30, 2011 8:57:37 PM EDT] InvestorsLive I may nail the move .. take the money
[May 30, 2011 8:57:41 PM EDT] InvestorsLive and then that’s top
[May 30, 2011 8:57:49 PM EDT] Laura exactly
[May 30, 2011 8:57:52 PM EDT] InvestorsLive Muddy holding out … and ends up selling flat or -5%
[May 30, 2011 8:57:54 PM EDT] InvestorsLive or whatever
[May 30, 2011 8:57:54 PM EDT] Laura it’s not science here
[May 30, 2011 8:58:11 PM EDT] InvestorsLive so – it is what it is and do what you find strength in
[May 30, 2011 8:58:16 PM EDT] Jaymo Start typing here
[May 30, 2011 8:58:23 PM EDT] Jaymo oops
[May 30, 2011 8:58:23 PM EDT] wegotseven lol
[May 30, 2011 8:58:33 PM EDT] Laura I’m pretty good at stopping out quick if I’m wrong
[May 30, 2011 8:58:36 PM EDT] Laura move on
[May 30, 2011 8:59:16 PM EDT] splendores IL, How long did it take you to settle/find your strategy?
[May 30, 2011 8:59:33 PM EDT] InvestorsLive still learning
[May 30, 2011 8:59:40 PM EDT] InvestorsLive let you know when I retire
[May 30, 2011 8:59:53 PM EDT] InvestorsLive constantly learning and changing and fine tuning
[May 30, 2011 9:00:05 PM EDT] splendores OK, rephrase, how long did it take until you became profitable?
[May 30, 2011 9:00:13 PM EDT] InvestorsLive 6 months or so trial and error
[May 30, 2011 9:00:22 PM EDT] splendores kk, thanks
[May 30, 2011 9:00:54 PM EDT] emetauten did you have a large account over PDT or under when you first started
[May 30, 2011 9:00:56 PM EDT] emetauten /
[May 30, 2011 9:00:58 PM EDT] emetauten ?
[May 30, 2011 9:01:01 PM EDT] InvestorsLive there was no PDT
[May 30, 2011 9:01:30 PM EDT] InvestorsLive but even at that if I knew what I knew now.. I mean PDT isn’t really issue – it’s good for peeps just starting out
[May 30, 2011 9:01:35 PM EDT] InvestorsLive forces them to learn first
[May 30, 2011 9:01:40 PM EDT] InvestorsLive rather than just press buttons
[May 30, 2011 9:01:45 PM EDT] InvestorsLive and blowing accounts
[May 30, 2011 9:02:02 PM EDT] InvestorsLive then you can always go prop if you’re good at it and just need more capital
[May 30, 2011 9:02:16 PM EDT] BNGESG I’ve made better decisions knowing PDT limit was on my back
[May 30, 2011 9:02:21 PM EDT] splendores yep, PTD has been good for me
[May 30, 2011 9:02:41 PM EDT] jonthegreek1 sorry what is PTD?
[May 30, 2011 9:02:41 PM EDT] InvestorsLive people go to PDT then get over it and blow some cash back under
[May 30, 2011 9:02:44 PM EDT] InvestorsLive takes a few times
[May 30, 2011 9:02:47 PM EDT] InvestorsLive PDT not PTD
[May 30, 2011 9:02:52 PM EDT] MARCO_POLO IL out of all possible plays, shorting, bounce plays etc is there one that you feel most confident playing or works more times then others?
[May 30, 2011 9:02:53 PM EDT] InvestorsLive pattern day trade rule
[May 30, 2011 9:03:10 PM EDT] InvestorsLive nope just the 3 plays I like – whatever comes each day
[May 30, 2011 9:03:14 PM EDT] InvestorsLive I love shorting tho
[May 30, 2011 9:03:24 PM EDT] Laura same here
[May 30, 2011 9:03:30 PM EDT] Laura but they all work
[May 30, 2011 9:03:39 PM EDT] InvestorsLive The next question is actually different than we normally have
[May 30, 2011 9:03:49 PM EDT] InvestorsLive kinda like it and could be a decent idea for a blog post
[May 30, 2011 9:04:02 PM EDT] InvestorsLive QUESTION: Recently Muddy said he would be willing to pay 200.00 a month for the 9.00 scan he receives. Question-What 5 things do you and Muddy start with each trading morning that you could not live without? Listed in order of most valuable “must have”
[May 30, 2011 9:04:12 PM EDT] InvestorsLive My list- 1. Interactive Brokers 2. Investors Underground Chat 3. TOS charts 4. Scanner 5. SPY screen up all day
[May 30, 2011 9:04:17 PM EDT] InvestorsLive This was the user list
[May 30, 2011 9:04:31 PM EDT] InvestorsLive That’s a great list. For me … it’s
[May 30, 2011 9:04:38 PM EDT] InvestorsLive 1. Live Chat – I tell others for example Derffie the other day, I saw a chart that I know he LOVES for the bounce … and I can only watch so much…. so I emailed him and said MOBI if this breaks green tomorrow this is a most definite long look at risk vs. reward. Sure enough I missed it .. then he was watching it posted it and ended up making $500 bucks just because Derffie was an ASSET. Other than that there’s always action we’re here for one reason and everyone is a team.
[May 30, 2011 9:05:03 PM EDT] InvestorsLive just one example of how I use chat – obviously there is hundreds
[May 30, 2011 9:05:10 PM EDT] InvestorsLive but most recent
[May 30, 2011 9:05:17 PM EDT] InvestorsLive 2. Scan from night before – be familiar with potential ideas, you have no idea how much LESS trading you have to do if you watch your ideas and take them. It TOTALLY cuts down on your work and trades and ups your profits.
[May 30, 2011 9:05:42 PM EDT] InvestorsLive 3. DAS Trader (for you/anyone – it’s charts you are COMFORTABLE with you need to see the same thing every day. That could be ThinkorSwim for others or any other charting software. But it’s not something you switch up every day)
[May 30, 2011 9:06:09 PM EDT] Derffie I feel so used…
[May 30, 2011 9:06:20 PM EDT] Laura you should
[May 30, 2011 9:06:24 PM EDT] InvestorsLive lol Derf
[May 30, 2011 9:06:26 PM EDT] InvestorsLive u made $$ too
[May 30, 2011 9:06:30 PM EDT] Derffie but it pays good
[May 30, 2011 9:06:35 PM EDT] InvestorsLive haha
[May 30, 2011 9:06:36 PM EDT] InvestorsLive 😛
[May 30, 2011 9:06:41 PM EDT] InvestorsLive the key here is consistency on #3
[May 30, 2011 9:06:48 PM EDT] InvestorsLive if you don’t like DAS Charts fine…
[May 30, 2011 9:06:50 PM EDT] InvestorsLive maybe you like TOS charts
[May 30, 2011 9:06:59 PM EDT] InvestorsLive maybe you like profit charts
[May 30, 2011 9:07:02 PM EDT] InvestorsLive freerealtime etc
[May 30, 2011 9:07:14 PM EDT] InvestorsLive key is … day in day out you’re looking at the same stuff so that you can see the same patterns develop
[May 30, 2011 9:07:24 PM EDT] InvestorsLive 4. HOD list (from DAS Trader or Scottrade) this is what gives us the action popping HODs, LODs, and picking out former runners from what’s hitting. It’s the fastest best way to know what action is happening now – there’s never a reason NOT to find ACTION on any given day.
[May 30, 2011 9:07:33 PM EDT] InvestorsLive 5. EquityFeed – always scanning for action – the next “big thing” the next “IPO/reverse merger” weirdo volume blocks etc how many times have we caught CrazyPenny stuff early.
[May 30, 2011 9:08:02 PM EDT] InvestorsLive any questions on these
[May 30, 2011 9:08:20 PM EDT] InvestorsLive a difference that I didn’t have was for Muddy… #1 prob Pre List
[May 30, 2011 9:08:28 PM EDT] InvestorsLive but I just threw that into the Live chat since that’s where I get it
[May 30, 2011 9:08:56 PM EDT] InvestorsLive no more on this topic?
[May 30, 2011 9:09:17 PM EDT] InvestorsLive QUESTION: Can you explain what you mean by follow ups? Like you said that it should be o.k to hold a stock o/n, but if it did not have a follow up then exit first thing in the a.m.
[May 30, 2011 9:09:20 PM EDT] splendores nope, great list
[May 30, 2011 9:09:34 PM EDT] InvestorsLive Assuming you mean follow through not follow ups ie: carry through action in the first 10-15 minutes – gap up… pre market volume .. upside and green hold … if it doesn’t hold the prior close no reason to be in it (if it doesn’t have a strong technically supported chart). This is only for OTCs as you know I rarely and wouldn’t suggest o/ns (at least the way I trade) on Nasdaqs.
[May 30, 2011 9:09:38 PM EDT] Laura thought we did that Q already
[May 30, 2011 9:10:03 PM EDT] Derffie back to the previous question my #1 is the percentage losers list on scottrade
[May 30, 2011 9:10:18 PM EDT] Laura Derffie awesome with that
[May 30, 2011 9:10:20 PM EDT] Derffie ok back to the real info
[May 30, 2011 9:10:27 PM EDT] Laura I love him for that one
[May 30, 2011 9:10:27 PM EDT] InvestorsLive Derf is the king of the curve bounce trade
[May 30, 2011 9:11:06 PM EDT] Laura I love the higher dollar ones now on the downs and ups usually based on earnings
[May 30, 2011 9:11:19 PM EDT] InvestorsLive QUESTION: Could you give an example of what makes an accumulation scan different from a consolidation? Is there an easy way to tell the difference?
[May 30, 2011 9:11:48 PM EDT] InvestorsLive Accumulation scan is for OTCs, it’s my EquityFeed scan (streaming filter) with the addition of 75% of the volume on the offer. I refer to these as on accum scan, or being accum’d in chat. Always worth watches especially if “IPOish” type chart or for example if they break out of a consolidation type range you know there’s a good chance they rip since it’s been literally 75% of the volume on the offer. Consolidation is the act of consolidating … a stock that was up and down between a certain range that has since slowed down and moving sideways and will either break up or down out of its flat range.
[May 30, 2011 9:13:02 PM EDT] InvestorsLive QUESTION: What’s the best setup/niche of every bolded member in the chat?
[May 30, 2011 9:13:08 PM EDT] InvestorsLive InvestorsLive – 3 Favorite breakouts = my niche Muddy – dayrangers – stocks with high daily range, low floaters and stocks that run from 9:30 to 4 Trader530 – actionable news alerts
[May 30, 2011 9:13:32 PM EDT] InvestorsLive thazzzzzzzzzzz it
[May 30, 2011 9:13:46 PM EDT] InvestorsLive any other questions we can help with
[May 30, 2011 9:14:25 PM EDT] BrianH What broker do you suggest for shorting. I have TOS and many of my orders are being rejected.
[May 30, 2011 9:14:43 PM EDT] InvestorsLive IB is great, Broad Street has been awesome lately
[May 30, 2011 9:14:55 PM EDT] Thatcher TOS is supposed to get better soon when they switch from Penson to Ameritrade
[May 30, 2011 9:15:07 PM EDT] Thatcher for clearing
[May 30, 2011 9:15:10 PM EDT] BrianH OK, thank you
[May 30, 2011 9:16:17 PM EDT] splendores Anybody heard of http://www.capstoneinvestments.com?
[May 30, 2011 9:16:29 PM EDT] splendores As broker?
[May 30, 2011 9:16:31 PM EDT] InvestorsLive they’re good
[May 30, 2011 9:16:32 PM EDT] TroutBro IL quick question on BDP pick… which is more efficient or a better chance of filling for DAS a LIMIT route or using a specific route like ATD
[May 30, 2011 9:16:42 PM EDT] InvestorsLive prob ATD
[May 30, 2011 9:16:52 PM EDT] InvestorsLive limit goes to whatever is best I think
[May 30, 2011 9:16:57 PM EDT] InvestorsLive but who knows
[May 30, 2011 9:17:02 PM EDT] InvestorsLive maybe DOMS on offer
[May 30, 2011 9:17:03 PM EDT] wegotseven I heard that’s Tim’s secret broker…. I don’t know it’s true thou
[May 30, 2011 9:17:05 PM EDT] InvestorsLive maybe some1 else etc
[May 30, 2011 9:17:17 PM EDT] TroutBro k
[May 30, 2011 9:18:01 PM EDT] Laura that’s pretty funny, Tim selling his stuff to everyone and having a “secret” broker
[May 30, 2011 9:18:43 PM EDT] InvestorsLive wlel
[May 30, 2011 9:18:44 PM EDT] InvestorsLive well
[May 30, 2011 9:18:46 PM EDT] InvestorsLive it makes sense
[May 30, 2011 9:18:50 PM EDT] wegotseven He is so good at marketing …better than trading lol
[May 30, 2011 9:19:03 PM EDT] InvestorsLive I like that he charges and like that fees are so high etc
[May 30, 2011 9:19:08 PM EDT] InvestorsLive it benefits all
[May 30, 2011 9:19:10 PM EDT] InvestorsLive broad used to be unreal
[May 30, 2011 9:19:14 PM EDT] InvestorsLive then he fuked them up
[May 30, 2011 9:19:33 PM EDT] InvestorsLive not everyone and their mom needs the best broker
[May 30, 2011 9:19:38 PM EDT] InvestorsLive but brokers with high barrier to entry are good
[May 30, 2011 9:19:40 PM EDT] InvestorsLive 500k share min
[May 30, 2011 9:19:53 PM EDT] InvestorsLive $50k min etc
[May 30, 2011 9:19:55 PM EDT] Laura yeah for sure
[May 30, 2011 9:19:59 PM EDT] InvestorsLive that’s diff and key
[May 30, 2011 9:20:06 PM EDT] TroutBro broad’s other platform turbotick has insane borrows but the platform is brand new and buggy
[May 30, 2011 9:20:09 PM EDT] InvestorsLive b4 with broad was unreal but then forced to switch clearly firm etc
[May 30, 2011 9:20:48 PM EDT] InvestorsLive havent used it yet Trout – but they have had great borrows on request
[May 30, 2011 9:20:51 PM EDT] InvestorsLive for past 2 months
[May 30, 2011 9:20:59 PM EDT] InvestorsLive JAMN was worth GOLD
[May 30, 2011 9:21:36 PM EDT] TroutBro TT i had issues with it boxing my trades
[May 30, 2011 9:21:43 PM EDT] Paradox FYI capstone is not a secret broker anymore: per the end of this blog post: http://www.timothysykes.com/2011/05/the-6-best-online-brokers-communist-james-altucher-style/
[May 30, 2011 9:21:57 PM EDT] InvestorsLive zzzzz so anyway
[May 30, 2011 9:21:59 PM EDT] InvestorsLive any other questions
[May 30, 2011 9:22:03 PM EDT] InvestorsLive going to start scan
[May 30, 2011 9:22:39 PM EDT] BrianH Thanks Nate, very helpful info.
[May 30, 2011 9:23:36 PM EDT] emetauten thanks, any thoughts on the week ahead? what type of plays to expect or market sentiment?
[May 30, 2011 9:23:57 PM EDT] InvestorsLive expect it to trend
[May 30, 2011 9:24:01 PM EDT] InvestorsLive up and down
[May 30, 2011 9:24:10 PM EDT] splendores lol
[May 30, 2011 9:24:14 PM EDT] Seq not sideways?
[May 30, 2011 9:24:17 PM EDT] BrianH not sideways?
[May 30, 2011 9:24:22 PM EDT] BrianH ahhhhh
[May 30, 2011 9:24:28 PM EDT] Seq copy cat brian
[May 30, 2011 9:24:42 PM EDT] TroutBro night boys
[May 30, 2011 9:24:44 PM EDT] splendores thanks L and IL.
[May 30, 2011 9:25:04 PM EDT] BrianH Thanks everyone, gn.
[May 30, 2011 9:25:06 PM EDT] splendores Hey one more question, what is the Room-Mod thing that has popped up?
[May 30, 2011 9:25:08 PM EDT] emetauten great advice! gotcha.
[May 30, 2011 9:25:33 PM EDT] InvestorsLive spell it out
[May 30, 2011 9:25:35 PM EDT] InvestorsLive Room
[May 30, 2011 9:25:35 PM EDT] InvestorsLive Mod
[May 30, 2011 9:25:39 PM EDT] Laura room mod is just something Nate needs for various reasons
[May 30, 2011 9:25:42 PM EDT] InvestorsLive Mod usually short for Moderator
[May 30, 2011 9:25:46 PM EDT] Laura not a big deal
[May 30, 2011 9:25:52 PM EDT] InvestorsLive u %%% around, u get zapped
[May 30, 2011 9:25:53 PM EDT] splendores I thought that much but how do you want it used?
[May 30, 2011 9:26:02 PM EDT] InvestorsLive huh?
[May 30, 2011 9:26:10 PM EDT] InvestorsLive what does that mean
[May 30, 2011 9:26:13 PM EDT] Laura yeah, huh?
[May 30, 2011 9:26:23 PM EDT] Laura it’s a mod thing, you can’t USE it
[May 30, 2011 9:26:24 PM EDT] splendores i am lost but I will ignore it 🙂
[May 30, 2011 9:26:31 PM EDT] splendores oh ok
[May 30, 2011 9:26:32 PM EDT] Derffie im thinking room mod is sort of the automoton that lets chatroom logs get posted in a timely manner
[May 30, 2011 9:26:32 PM EDT] splendores thanks
[May 30, 2011 9:26:45 PM EDT] Laura right Derf
[May 30, 2011 9:26:50 PM EDT] InvestorsLive I just put it there so that people would ask why
[May 30, 2011 9:26:55 PM EDT] InvestorsLive to be perfectly honest
[May 30, 2011 9:27:02 PM EDT] Laura just for fun
[May 30, 2011 9:27:04 PM EDT] splendores I didn’t sleep all week. It kept me up
[May 30, 2011 9:27:07 PM EDT] InvestorsLive me and L had a side bet
[May 30, 2011 9:27:10 PM EDT] InvestorsLive how many would ask
[May 30, 2011 9:27:16 PM EDT] InvestorsLive we gamble on the side
[May 30, 2011 9:27:23 PM EDT] splendores who won?
[May 30, 2011 9:27:33 PM EDT] InvestorsLive (she lost)
[May 30, 2011 9:27:39 PM EDT] InvestorsLive won’t admit it tho
[May 30, 2011 9:27:48 PM EDT] Seq gamblin can only get yer feet stuck in concrete
[May 30, 2011 9:28:00 PM EDT] splendores ciao and thanks
[May 30, 2011 9:28:16 PM EDT] Laura I never lose
[May 30, 2011 9:42:09 PM EDT] Noobtrader.08 can I ask a question?
[May 30, 2011 9:42:25 PM EDT] Noobtrader.08 regarding previous days close…
[May 30, 2011 9:42:46 PM EDT] Noobtrader.08 well, not really a question, more confirmation…
[May 30, 2011 9:42:57 PM EDT] Noobtrader.08 red/green & green/red…
[May 30, 2011 9:43:07 PM EDT] Noobtrader.08 if stock ABC closes at 5$…
[May 30, 2011 9:43:13 PM EDT] Laura based on previous close…………
[May 30, 2011 9:43:38 PM EDT] Noobtrader.08 then we look for 3% move red or green based on previous days close…right?
[May 30, 2011 9:44:08 PM EDT] Laura well look at chart
[May 30, 2011 9:44:58 PM EDT] Laura man if stock down 10% from previous close and starts a hard move back up, you may want to be in before it goes green
[May 30, 2011 9:45:03 PM EDT] Laura just saying…..
[May 30, 2011 9:45:57 PM EDT] Noobtrader.08 and red/green, green/red is based on intraday only?
[May 30, 2011 9:46:29 PM EDT] Noobtrader.08 not 3month/daily, 6month/daily, 52’s… these moves are more obvious…
[May 30, 2011 9:47:03 PM EDT] Noobtrader.08 how the stock moves intraday, based on previous day’s close (to be more specific…
[May 30, 2011 9:54:39 PM EDT] InvestorsLive http://www.investorsunderground.com/2011/05/30/scans-for-053111-from-InvestorsLive/
[May 30, 2011 9:55:29 PM EDT] Jaymo yes, noobtrader. Hence the phrasing.. “red/green” – literally means the stock went from “red” from the previous close to “green”
[May 30, 2011 9:57:22 PM EDT] Noobtrader.08 got it… and thanks… was only looking for confirmation. I learned all this stuff before and have been reading a lot, but sometimes I second guess what I read, so I ask questions… never assume. Sorry if it was a dumb/obvious answer/question.
[May 30, 2011 9:57:33 PM EDT] Jaymo A lot of times on a second day move, the stock will have a quiet open below the previous close, then the “red/green” move above 0% (yesterday’s close) sparks the second day momentum
[May 30, 2011 9:57:57 PM EDT] Noobtrader.08 ok.
[May 30, 2011 9:58:08 PM EDT] Jaymo no prob, always good to ask questions
[May 30, 2011 9:58:20 PM EDT] Noobtrader.08 at TOS, I notice they have a “last” and a “close”, depending on where you’re looking tells you different info…
[May 30, 2011 9:58:28 PM EDT] Noobtrader.08 what is the difference between last and closed?
[May 30, 2011 9:58:51 PM EDT] Jaymo “last” is the last price the stock traded
[May 30, 2011 9:58:55 PM EDT] Jaymo so.. the current price
[May 30, 2011 9:59:02 PM EDT] Jaymo close is where the stock closed at 4PM
[May 30, 2011 9:59:42 PM EDT] Noobtrader.08 right, this is what I thought… however, TOS (yes, i’ll let them know) shows two different “closing” prices… again depending on the chart.
[May 30, 2011 9:59:51 PM EDT] Noobtrader.08 oh, and EquityTrade.
[May 30, 2011 10:00:06 PM EDT] FreezeFrame How long is AH trading available? And when does PRE open up?
[May 30, 2011 10:00:31 PM EDT] Noobtrader.08 if I have an account with TOS Canada… am I able to use EquityTrade, they have GREAT looking software…
[May 30, 2011 10:00:48 PM EDT] Jaymo well.. maybe the other price is the AH closing price
[May 30, 2011 10:00:50 PM EDT] Noobtrader.08 or does no one know, in which case i’ll just call them tomorrow.
[May 30, 2011 10:01:03 PM EDT] Noobtrader.08 so, which do I base red/green on then?
[May 30, 2011 10:01:12 PM EDT] Jaymo the 4PM close
[May 30, 2011 10:01:13 PM EDT] Noobtrader.08 AH or 4 pm close?
[May 30, 2011 10:01:17 PM EDT] Noobtrader.08 got it!!!
[May 30, 2011 10:01:22 PM EDT] Noobtrader.08 SWEEET MAN!
[May 30, 2011 10:01:25 PM EDT] FreezeFrame when does the AH close?
[May 30, 2011 10:01:31 PM EDT] FreezeFrame or does it?
[May 30, 2011 10:01:34 PM EDT] Noobtrader.08 8pm
[May 30, 2011 10:01:38 PM EDT] Noobtrader.08 i think
[May 30, 2011 10:01:46 PM EDT] FreezeFrame when does PRE open?
[May 30, 2011 10:01:48 PM EDT] Jaymo The percent up or down in your watchlist or chart should be based off the 4PM close
[May 30, 2011 10:01:49 PM EDT] FreezeFrame 4am?
[May 30, 2011 10:01:52 PM EDT] Jaymo depends on the broker
[May 30, 2011 10:01:53 PM EDT] Noobtrader.08 yeah
[May 30, 2011 10:01:54 PM EDT] Noobtrader.08 I think
[May 30, 2011 10:02:01 PM EDT] Noobtrader.08 I’m Westcoast
[May 30, 2011 10:02:06 PM EDT] Jaymo Most brokers allow 8AM EST
[May 30, 2011 10:02:13 PM EDT] Noobtrader.08 so 5 AM PST
[May 30, 2011 10:02:18 PM EDT] Jaymo Interactive Brokers you can trade 7AM or even earlier sometiems
[May 30, 2011 10:02:30 PM EDT] Jaymo Dunno about the rest
[May 30, 2011 10:02:44 PM EDT] Noobtrader.08 Equity question?
[May 30, 2011 10:03:01 PM EDT] Jaymo I’ve never heard of EquityTrade, sorry
[May 30, 2011 10:03:54 PM EDT] Noobtrader.08 sh*t… might be calling it the wrong name… one sec… will clarify name.
[May 30, 2011 10:04:31 PM EDT] Noobtrader.08 sorry “EquityFeed”
[May 30, 2011 10:05:34 PM EDT] Jaymo Aren’t they a separate service?
[May 30, 2011 10:05:43 PM EDT] Noobtrader.08 http://www.equityfeed.com/
[May 30, 2011 10:05:50 PM EDT] Noobtrader.08 yes, but TD Ameritrade…
[May 30, 2011 10:05:58 PM EDT] Noobtrader.08 who bought Thinkorswim
[May 30, 2011 10:06:09 PM EDT] Noobtrader.08 not sure if that ALSO applies to TOS Canada or not…
[May 30, 2011 10:06:25 PM EDT] Noobtrader.08 I’ll just call them in the AM…
[May 30, 2011 10:06:33 PM EDT] Jaymo Not sure what you’re asking
[May 30, 2011 10:06:39 PM EDT] Noobtrader.08 lol
[May 30, 2011 10:06:50 PM EDT] Jaymo EquityFeed and ToS are separate
[May 30, 2011 10:07:07 PM EDT] Noobtrader.08 if, as a Canadian using TOS, I’m able to also use EquityFeed as a trading platform…
[May 30, 2011 10:07:29 PM EDT] Noobtrader.08 right, but it says right on the page if you have a TDAmeritrade account, you can use the software.
[May 30, 2011 10:07:35 PM EDT] Jaymo ahhh I gotcha
[May 30, 2011 10:07:42 PM EDT] Jaymo I dunno, I’m in the US
[May 30, 2011 10:07:46 PM EDT] Noobtrader.08 got it.
[May 30, 2011 10:07:59 PM EDT] GAM3-OVR Is the Seminar posted somewhere from tonight
[May 30, 2011 10:08:01 PM EDT] Noobtrader.08 thanks for engaging in the convo at least… 🙂
[May 30, 2011 10:08:05 PM EDT] GAM3-OVR I missed it, wanted to read the questions and answers
[May 30, 2011 10:08:10 PM EDT] Jaymo no prob
[May 30, 2011 10:08:48 PM EDT] Noobtrader.08 @Gam3, not sure if IL has posted the link…
[May 30, 2011 10:08:53 PM EDT] AlexL You can input a code into TOS charts to have previous close show up on chart, in the user defined studies
[May 30, 2011 10:09:03 PM EDT] Noobtrader.08 ??
[May 30, 2011 10:09:05 PM EDT] GAM3-OVR ??
[May 30, 2011 10:09:33 PM EDT] Noobtrader.08 where do I input the code and what is the code?
[May 30, 2011 10:09:44 PM EDT] Noobtrader.08 I’m not a programmer… but I am a computer geek. 🙂
[May 30, 2011 10:09:56 PM EDT] Jaymo http://fastfoodtofastmoney.com/2010/12/13/how-to-add-previous-close-to-thinkorswim-charts/
[May 30, 2011 10:10:02 PM EDT] AlexL lemme open tos and see, Bmon hooked me up with it
[May 30, 2011 10:10:08 PM EDT] AlexL there it is
[May 30, 2011 10:10:16 PM EDT] Jaymo lol yeah, bmon’s site came up on my google search just now
[May 30, 2011 10:10:29 PM EDT] Jaymo cool, I was wondering if there was a way to do that
[May 30, 2011 10:10:58 PM EDT] Noobtrader.08 thank you.
[May 30, 2011 10:16:20 PM EDT] Noobtrader.08 “the only thing I haven’t been able to figure out is how to get it off previous days, so if you can figure that out I’d love your input!” What does this mean?
[May 30, 2011 10:16:23 PM EDT] Noobtrader.08 from Bmon…
[May 30, 2011 10:16:38 PM EDT] Noobtrader.08 I will look into it, but I don’t know what he means… ?
[May 30, 2011 10:16:50 PM EDT] Noobtrader.08 please interpet…
[May 30, 2011 10:16:56 PM EDT] AlexL it shows up on the daily charts as well
[May 30, 2011 10:17:23 PM EDT] AlexL normally you want to only see the previous close on the intraday chart
[May 30, 2011 10:17:38 PM EDT] AlexL or day or 2 before
[May 30, 2011 10:18:07 PM EDT] Noobtrader.08 right… as opposed to the entire previous week, if you happy to be looking at a 5 day… right?
[May 30, 2011 10:18:34 PM EDT] AlexL Pull up a daily chart and you will see the previous close go all the way back for the entire timeframe of the chart
[May 30, 2011 10:18:50 PM EDT] Noobtrader.08 i have… I’m looking at it right now.
[May 30, 2011 10:18:57 PM EDT] AlexL It kinda gets in the way, not a big deal but I can see what he meens
[May 30, 2011 10:19:34 PM EDT] AlexL The previous close does not matter 3months back but it still shows up on the chart
[May 30, 2011 10:19:44 PM EDT] Noobtrader.08 yeha, TOS doens’t let you look at intraday charts on weekends.
[May 30, 2011 10:19:47 PM EDT] Noobtrader.08 🙁
[May 30, 2011 10:19:55 PM EDT] AlexL yes you can
[May 30, 2011 10:20:02 PM EDT] Noobtrader.08 ??
[May 30, 2011 10:20:11 PM EDT] Noobtrader.08 prophet?
[May 30, 2011 10:20:21 PM EDT] AlexL i can see friday intra fine
[May 30, 2011 10:20:35 PM EDT] AlexL tos or prophet
[May 30, 2011 10:20:48 PM EDT] AlexL unless you are trying to go way back
[May 30, 2011 10:21:54 PM EDT] Noobtrader.08 no, just look at intraday… using charts/charts… and under charts/prophet, I can see intraday, but I can’t apply the same study…
[May 30, 2011 10:22:05 PM EDT] Noobtrader.08 Chart is TOS’s software… Prophet isn’t.
[May 30, 2011 10:22:15 PM EDT] Noobtrader.08 it’s an “added bonus”.
[May 30, 2011 10:22:59 PM EDT] AlexL that previous clos only works with tos yes
[May 30, 2011 10:23:04 PM EDT] Noobtrader.08 right.
[May 30, 2011 10:27:59 PM EDT] retroelevens came online looking for the seminar, and found something useful to add into my TOS, thanks AlexL, thanks Jaymo for the link!
[May 30, 2011 10:30:09 PM EDT] AlexL np
[May 30, 2011 10:30:21 PM EDT] AlexL Thanks to BMON
[May 30, 2011 10:32:33 PM EDT] Noobtrader.08 yep, thanks Jaymo, Alex, Bmon, Laura (as annoying as my question was) for your time and input. Time to study…
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