NASDAQ Day Trading suggestion

Discussion in 'Trading' started by srainey, Feb 29, 2004.

  1. srainey

    srainey

    If you are currently day trading the NASDAQ with some degree of success and would like to possibly improve your daily profits, please read this;

    I have been day trading the NASDAQ for 6 months and have determined that to a large degree, trading success is directly proportional to the following:

    1. Your ability to locate & trade the largest price movements of any given stock or basket of stocks.

    2. The total number of stocks ( 1 minute & 5 minute charts ) which you can view & monitor during each 5 minute period, to catch these major price moves.

    Since timing is very critical and screen space is very limited, the total number of stocks which any one person can monitor and trade at any given time is very limited.

    However, a team of 3 to 4 NASDAQ day traders who are in constant communication with each other via a private, members only, voice chat room would have the ability to monitor & trade a much broader basket of stocks as follows ;

    1. each team member would have perhaps 10 to 15 stocks from the NASDAQ 100 to monitor

    2. when a possible trade is developing in one members group of stocks, each of the other members would be informed via voice chat and have the option to load up and trade the security individually.

    3. this would effectively give each team member the ability to locate & trade the major price movements on 50 or more stocks during the day rather than just a very limited 10 to 15 stocks.

    4. each day a new basket of stocks would be selected & assigned to each team member, based on the prior days price ranges ( 50 to 60 of the highest ranging stocks would be selected from the NASDAQ 100 ).

    There are numerous other benefits which a team of traders would have, but too lengthy to mention in this forum.

    I'm currently seeking to team up with 3 to 4 other experienced NASDAQ day traders who could also benefit from this approach. If interested, please respond by sending an email to

    rain502@Bellsouth.net with the following details :

    Name, State or Country of residence, brief trading experience, trading platform & number of monitors, preferred timeframes of trading, & any additional info to consider.
    I will reply with more in depth detail.

    If the response to this is overwhelming, I may not be able to respond to everyone ; however, I will attempt to DELETE this thread when the team has been selected.
    Thanks, ............. S.R.
     
  2. Probably wouldnt work well unless all the traders are looking for the same types of setups.

    Your best bet will be to get good screening software like Linsoft Investor RT.

    The truth is that when the NQ is about to make a big move almost all of the tech stocks are gonna follow. Picking the one that has the biggest range has more to do with luck. Usually range expansion has more to do with following news plays... not patterns.


    --MIKE
     
  3. GGSAE

    GGSAE

    So is everyone looking for the same ETs and exit points? Which indicators would be used? Would the traders be looking to achieve same # of trades with equal blocks of shares?
     
  4. srainey

    srainey

    Each trader would be looking for the same type of setup.

    Regarding price range, no luck involved ; using scanner software to determine the day to day High to Low range and there are a number of stocks in the Nasdaq 100 which consistently have a broad price range of one to several dollars per day.
     
  5. def

    def Interactive Brokers

    Looks like you have a systemic approach that can easily be programmed. Why not program the code so you don't have to rely on others?
     
  6. I am an expereienced Nasdaq trader, i trade big blocks an trade the same way you do, don't want to go into further detail here, email me at staff@theotcbblist.com I have another guy as well. We made 40k last week.