Hi All, Its been months since I made a public post because of family issues and dealing with some very horrible people. I don't day trade anymore, that's my son's department and he is getting very good! He reads these forums and picked up so many good ideas and psychological advice from this community! How can I start to trade again, how do I get rid all the noise and pain inside my head and all the family issues? As a Trader you can't have all those issues without Blowing Up, Right? How do you get out of your funk or deal with chronic pain? I personally don't like to socialize with people except Active Traders like you all here! My eldest son does all the trading and after graduating from college. Why did I quit? I quit because I am sick of nasty people messing with life plus I have a broken back. I guess the gift of trading or scalping still exists, my wife bought a block of DENN's in her account and my son bought some in another account when DENN fell, that's when my wife bought her shares. Jr bought his at $12.38-$12.43 and sold near top-tick(dangerous habit?) To make things simple, here's the DENN's scalp It's hard to supervised someone day-trading DENNs when your back is on fire, even if you can make money, the pain is insane! . On IPCM we thought from a chart stand point the stock would take out $61 once $59.51 got hit. Today my son woke up to the stock getting bought out! Yesterday we bought in one brokerage account 46 calls and they went from $.80-$1.20 to $19.00 to $19.70 My platform almost screwed up the gains on my day trade gains on DENN. Help me find a new broker please! Sorry for taking a hiatus but we all need time away from everything, thank's for listening!
My Broker on HMSY would sell 1 contract out of 15 when selling that option. I tried to sell at $1.45 when HMSY fell to $8.80 and all it did was sit! Five 1 contract sells, why? Are they doing that for commission reasons or just to be jerks? Today I was trading Denny's and my Broker explained their platform is not geared towards Active or Hyper Traders like my son is. I taught him how to trade and these are his trades, he's learning to trade very well. I called my Broker 6 minutes till the Close because their platform crashed again(Early this year I lost $5000, $1500 on Apple, and many others because their web-platform crashes.). Trying to get my 14,000 share Short filled at a reasonable price, look where the Broker put the "Buy to Cover price!". Denny's is trading at $12.78 falls down to $12.72 and I start to Short the stock at $12.71 to $12.68. The stock falls to $12.62x12.63 and to my chagrin, their platform via LiveVol does not work. Livevol's Platform won't allow me to cover at $12.62x$12.64. I tell the Broker "we have 6 minutes before the close so let's get this done. I tell him, you have my full authority to buy the stock, let's take the stock all the way up to $.70 if we have to! By the time he get's things going it's 15:58:59 and the order get's put out at 15:59:38 and he put's $14.70 as my BTC price instead of $12.70! Arg!!!!!!! This Broker is small enough to give a dam about what you think, they do care and that's why I keep some of my money with them. Can you give me any names of people who have platforms that can handle 300-800 day trades? My son is getting so good and I am backing off so he can fly with both wings, it's been some time since I had any emotion towards trading and can't feel anymore, I have a broken back so back pain make's day trading impossible for me but not my son. Who can I get him to join? I will fund him with $50-$150k depending on how good the Broker is!
Broker? IB of course. However, if you're using LiveVol, I thought they we're using IB anyway. At 300-800 day trades you're just going to make your broker and the bots rich.
The Buy Orders got "rejected" because their platform and website broke, by the time my son could get his order in, seven minutes have passed. 14,000 x .05 is what we lost by using a platform that's not made for people that actively trade. If you are a hyper-active trader can you help me find a Broker for my son, he's 24 years and very fast on the computer and learning quick. His risk-management skills would make you all proud here, most of his learning has been on Elite Trader plus the old geezer (me) . I should send him to Oliver Velez or Greg Capra to learn the "three red candles" and buy!" $3000 trading school !!!!!!!!!!!!!!1
Well I suggest switching to Interactive Brokers directly. Shouldn't be difficult as LiveVol is just an introducer for IB - but I suspect you might have to open a new account entirely.
Yesterday it's funny trying to trade a stock the HFTS are fully jerking around in(I know they all are in every stock!) by jumping in front of your "bid" or "offer". When HMSY was at $10.70 I started to watch it very carefully until it broke $10 hard. We bid and bid only to get jumped in front of by all the Exchanges, no big deal. Jake buy's 10 Puts starting out his position, once it broke $9.80 adds more and buys more at $9.38. HMSY fly's back up to $9.73 and we add more contracts to our position. HMSY slowly falls to $9.30 and cracks once it hit $9.20 and broke at $9.00. At $8.88 my son tell's me he is going to sell his contracts, using software HMSY is suppose to be worth $1.50 while the Market is $1.25 x $1.55. Put in a order at $1.45 and get hit with 1 contract. This happened 5 times! Look at the close on the September $12.50 and September $10 Puts and those are pretty much ours. Software to prevent you from throwing out a "Market Order" has saved us tons of cash, especially after our Zillow and Truilla and MCD debacle in 2014. The Offer went from $1.20 to $2.30, I threw out 75 contracts at the Market right before MCD went nuts (Weekly $88s flew from $.90 x $1.20) to $2.30 (I got filled 70 at $2.30, bid $1.40 x $2.30) and the last 5 got filled at $4.30! MCD ended up going from $88 to $96 so that worked itself out. Zillow and TRLA debacle. All day we were grinding Truilla's stock, something feel's weird and buy 20 of the $50s at $2.30, another 15 at $2.80 and finally the Bid x Ask begins to scatter fast. Some poor sap had a 300 contract order sitting at $3.10 so I throw a Market Order of 50 contracts out and get 35 filled at $3.10 (Someone grabbed everything but 35) and the 15 contracts got filled at $5.60! The expansion went all the way to $2.80 x $13.80, stock went from $48 to $62 and CBOE prints were going off like this: 4000 CBOE @ $7.60 Physical's price was $55.60 for the Monthlys. 2300 CBOE @ $8.20 Physical is $56.7 3000 CBOE @$9.90 Physical is at $58.90 I thought we were going to get messed up until the buyout rumor hit the newswire. We follow 50 stocks and add some acting weird, low volume stocks like ICHP and watch because usually there is a Rat! Two years ago I complained how my pipeline options right after I bought them at $2.00 flew to $14.00 from 15:56 EST (I had to use the bathroom) and by the time I got back the Market was closed and the stock opened the next day at $3.80. We got a double but 7x seemed nicer. The friends here helped me get my head straight, realizing that "Black Swan Trades don't happen when you expect them" and "Trade what you trade best and don't chase after take-over targets." We were not looking for aW Take-over target when we bought the ICPH, just got luck? What Brokerage has the best ECN Rebates and offers a Reserve Book on Options so you don't flash any size? Don't mind paying a fair price if the platform and service are incredible, otherwise were back to square one.
I think I will, is that where everyone here trades for the majority? Does anyone have any thoughts on "LightSpeed" or SpeedTrader? Their software price and massive commission spike made me leave.