Hello, JNPR is one of the wildest & fastest movers What is your strategy trading of JNPR Does anybody use market order instead of limit order due to fast price swing? Please, share you experience & strategy ...
I trade JNPR often, and most of the time I use limit orders going after a particular bid or ask. I don't like market orders since I don't necessarily want to pay more than a certain amount to get into the stock. As far as how I trade it, it's not much different than the other stocks I follow. I use TA and chart patterns to determine my trades, and provided I'm not stopped out, I prefer multi day swing trades.
I only traded JNPR from 6/00 to 2/01, and just recently began trading it again. Here's an exerpt from an old post and a link with my compx chart w/ indicators and some RSI technique: --------------- <b>Do you use mental stops?</b> I usually never let JNPR get further than .50 cents, or $1000 at most. Most of my stops were actually determined by futures action. Since my entries were solely based on fut's moves, if they reversed then I was out. The .50c/$1000 stop was if JNPR traded against the fut's. I would say my average stop was somewehere around a quarter. <b>What kind of risk/reward do you look for?</b> It's too hard to determine a ratio for this type of trading. I was, and still am, around 70% profitable on a daily basis. <b>Do you trade all day or just during certain time frames?</b> I never trade the first 30 mins. I found it nearly impossible to trade that 30 mins using my methods. They simply weren't as effective. <b>Do you use any TA, or do you just use Level II?</b> Level II is mostly for determining entries and exits when trading such liquid stocks. There isn't a single MM that has enough power to control something like JNPR, and as mm's get more savvy to ecn's they just hide their intentions anyways. I use TA on ndoos instead of the stock itself. I find TA (idicators) in the futures markets to be more reliable. ----------------- http://www.iwinfree.com/notes.htm
Dustin, Who is your broker? You said in a previous post that you were trading 2500 sh blocks of jpnr, what route were you using (isld, redi,?). Do you ever use soes? The reason I ask is that I was paper trading today (I realize we had weak vol. today) and while watching a combined ecn book the matches I was looking for to get out of the trade didn't seem highly probable when I wanted out. I'm just wondering if a best route could be more effective in situations like this (i don't want to get caught up in trying to cancel orders, when the whole process may take longer than best execution I use Waterhouse now and if I place a limit order at the inside market i usually get it; but I really gun shy to use them intraday. Any suggestions, anyone?
I use Cyber. The best execution method is to use either isld, redi, or inca depending on what is available at the offer. If I'm just bidding my default is isld since it's the cheapest route. SOES is useless since the tier limit is 200. Filling 2-3000 shares is pretty easy these days since JNPR is very liquid (unless you are already in and get trapped on the wrong side of the trade). I can't speak for Waterhouse. If you are serious about daytrading you should really consider getting a better broker. Cyber or any RealTick broker should do. Shop around for the best rates.
Trading JNPR today I ran into an anomaly I do not understand. Late this afternoon, on several occasions, the emini was running south and large buy volume would come up supporting the stock price. Anybody have any insight as to what was happening? Regards
You can't say for sure. It's possible there was a huge institutional buy order, which would make sense, since you said it came late in the afternoon, which is typically when MM's and institutions do their serious buying or selling without as much of the hiding their intentions.
I'd say it looks like there was simply a buyer in the 46.90 range for a while. Once he left it fell about .40 into the close. I'm referring to 3:30-3:50(appx). JNPR is liquid enough that usually no single buyer or seller can affect trading very much, but on some days like today it happens. You said that big volume would come in an push it up. That happens many times if the futs are falling and JNPR is supported by someone because the shorts panick. Those are usually profitable opportunities to get short for a quick scalp if you aren't already.
When JNPR opened down and then went up braking yesterday's close was a potential signal to enter long. For some reason I could not pull the trigger. I just watched the stock run to 47. Besides futures and the index, are you guys using anything else that would have gotten me into the trade. I think my biggest problem is my broker, they make me a little skittish (waterhouse). I know they should not be used for daytrading or scalping but I'm stuck there till Jan 02. Any help appreciated as always. thx