If you've been following the posters on ET for a while, you get an idea of who the profitable traders are on this site. Posters like lescor, dustin, pitufo, thetraderprofit, gertsman, don bright, silk, dafugginman, echopatrick, etc. are for me the real deal. These are the traders who have been doing this for some years now and have been consistently profitable. I don't need for them to show me their P & L - you can tell from their posts that they make money consistently. It is up to each one of us who want to learn to step back and digest what they post and try to learn from what they are willing to share. They are in no way obligated to spoon feed us. Just be thankful that they even bother to (occasionally) post here on ET. The knowledge they share is free and it sure as heck is valuable.
Whether or not Don Bright makes money trading remains to be seen IMO! The others are all noteworthy traders!
diamondrim, had a good run with trade-ideas and your configuration of " 40 or more highs in one day". I was wondering if you could reveal some of your strategies regarding stops since the volatility here is pretty steep and the number of stocks on an up -day is huge.. thank you
Good question. For stops I do this. I look up volatility for any stock I am in on http://www.trade-ideas.com/StockInfo/GOOG/GOOGLE_INC_CL_A.html That number is what you need to give it in any 15 minute period. That number also tells me how many shares I am going to get into. Then I set up another window with the volatility filter set to what my 40+ window is set to and use these alerts. http://www.trade-ideas.com/Help.html#TSSU Let me know if that helps
sorry to bother you again. So if the volatility of the stock ABC in 15 minutes is $.016 my risk would be set at $.0.16 from the entry and the number of shares would be capital/0.16??
Right. The shares depends on how much you trade. If you are getting into GOOG be prepared to see bigger moves and maybe need less shares.
I don't want to sound too enthusiaistic, maybe it was just a good day for everybody, however trade-ideas gave me pretty good directions what to trade and when to get out. Some of the operations I had to do manually, because I am not sure if TI can be incorporated into IB that is my broker. The trailing stops were done manually and this took some extra time. Otherwise I enjoyed it. Thank you for your advice. I have an impression that this software has alot of great features that one does not see at the first glance, unless you study it in detail. Thanks again.
Here is me finishing the day. Pretty good for not doing too much work. I stayed in all of these as you can tell so hope we follow through tomorrow.
I only did +44 today. It was a very frustrating day as i was up $98 by mid day, but gave a lot back as i kept fighting the new highs EP was making. I had a few trades where i saw huge size come in above the ask, i bought the specialist before he filled the large order, and then sold it back to him when he ended up filling the large order on teh book. Frustrating part was when i bought and sold back the times i got 1 cent i could have gotten 2-3, whereas other times i tried for 2 but could only have gotten 1 before it was moved back down and i had to take a flat.... Should have been 150+ for sure :/