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Filter Exchange · Problems with RSI(2) and day trading
msg #44132
5/24/2006 8:58:01 AM

I used MACD 6,12,8 and wait for the slope to change direction, also a very powerful indication when both RSI(2) and MACD have a divergence from price. Always wait for the end of the period and make sure the slope of the line has turned up (for longs) or down (for shorts)

Filter Exchange · i have a filter,it may be a money maker
msg #42965
4/14/2006 10:27:37 PM

If the filter is a long filter, just sell the stocks instead of buying them and then it has a 66% win loss ratio. Problem solved.

General Discussion · Best Broker for Shorting
msg #42309
3/21/2006 8:45:37 PM

I trade with IB, my system last year only looked for stocks above $20 and below $70, did 150+ shorts probably had less than 10 that I couldn't short through IB. Usually things like BOOM, ANTP, TASR, TZOO, and other highly volatile, highly shorted stocks were ones that I couldn't short.

The system is automatic, just enter the order, if they have shares and it can be shorted it will place the order, otherwise it tells you that you can't short it.

One other thing about IB, they won't let you short within a few days of a dividend, I think it's 7 and if you're holding the position, I believe they will close it out automatically 3 or 4 days before the dividend date. This info is on their website so if you short and hold dividend paying stocks this might matter to you.

General Discussion · SWING MACHINE - Amazing Picks for Todays Trader!!!
msg #41511
2/22/2006 8:25:59 PM


On the list for today you have GCAN, it never had an uptick, seems like most of the stocks you post have had an uptick, wouldn't you want to wait for a confirmation that the trend had changed, or at least slowed down?

Filter Exchange · Give up?
msg #41064
2/7/2006 1:55:40 PM

One of the things Mark Douglas talks about in his book is the fact that when you have a trade go against you it's human nature to look for things that will justify your position, looking at indicators that you rarely use, looking for anything that will verify in your mind that you're on the right side of the trade, while ignoring the signals that show clearly that the trade is no longer working.

I think the biggest problem is the risk in relation to your account size. I believe I've seen somewhere that you should never risk more than 10% on any one trade. Daytraders use even smaller amounts, 3% per trade would be a big risk for me. But it's tough to get 100% per month returns with that little risk. Otherwise Fund managers would be making a killing.

Knowing the probabilities of each trade, Strict money management, a solid methodology to be able to pull the trigger when you're down. That's a few of the things you have to get a handle on.

Hope it all works out.

Filter Exchange · Give up?
msg #41055
2/7/2006 9:07:33 AM

On FLSH, when it went below 27.82 (the low on 01/27) that would have been my signal to get out.

Technically it's not looking good, the Stochastics (5,3) are making lower lows so it could easily keep going down. Of course Technical indicators are only that, indications of probabilities of which way the stock is going to go.

What is your stop point?

Filter Exchange · Give up?
msg #41035
2/6/2006 8:48:48 PM

Sounds to me like you're trying to make too much too quickly. Nearly 200% return in 2 months is phenomenal, but it takes a high degree of risk to make that kind of return. When you take that much risk, you will inevitably get some drawdown, a few trades that donít go your way, and poof, back where you started.

Trading is all probabilities, like a casino. The best traders are like the house, they know the probabilities of each trade they make, they donít risk more capital than they can stand to lose given the probabilities of each trade, and they have strict stop loss and profit targets. I believe over time itís difficult to have over 60% winning trades, Iím not talking weeks or months, but years.

The important thing is to figure out a system. Know the odds. Start small so you donít lose all your money in a few trades. Iíve spent hundreds of hours the last 2 years working on different systems, made 33% in one month, only to lose it all in 2 trades that went against me.

If you have a streak of 10 or 15 winning trades, itís also possible to have that many that donít go your way too.

Trading too large a position will cause you to be emotional about the trade and any gambler will tell you ďscared money never winsĒ.

Read the book by Mark Douglas, ďTrading in the ZoneĒ. Do the exercise till you get it right.

Most sites Iíve seen tell you that a 20-25% return on your money per year is a good return. My wife has made 60-80% each year for the last 4 years. Each year her system has had between 50 and 62% winners. She takes a 10% profit if she can get it, and a strict 3% stop loss. So I know it can be done.

Good Luck

General Discussion · Some heads are gonna roll!
msg #40993
2/5/2006 11:53:23 AM

nikoschopen said

"My initial gut feeling is that oil stocks are due for a correction. Any evidence to the contrary to not bolster that claim?"

Since DMA 28 can predict the future, why doesn't someone run a scan to see if any terrorists are going to bomb any pipelines or not?

General Discussion · Some heads are gonna roll!
msg #40776
1/29/2006 2:18:10 PM

And all (or at least most) of the technical and fundamental analysis will be usless come Tuesday at 4:05 when GOOG reports earnings. With no guidance, the estimates are all over the board. GOOG could easily miss on either side by a BUNCH and go up or down in a big way. The least likely scenerio is for it to beat by just enough to satisfy everyone and NOT make a violent move one way or the other.

GOOG is a dynamite trading stock (Thanks TRO for the heads up) it moves up and down 10-30 dollars a day giving daytraders plenty of opportunity to make money in both directions.

My feeling is that after Yahoo's less than stellar earnings and the fight with the government about turning over the search data some people didn't want to be holding a postion after 3:55 Tuesday afternoon, that's why it never popped all the way back up after the strumming it took.

Just hop on the freight train Wed morning, (or Tuesday afternoon if you can trade post market) no matter which direction it takes and ride it for a few dollars. There will be a lot of money wanting in or out depending on which way it goes.

General Discussion · online brokers
msg #39763
12/25/2005 10:27:12 PM

I believe you could use Interactive brokers, they have access to the Sidney futures exchanges and have what they call a universal account.

Direct access, quick fills and 1/2 cent per share commisions ($1.00 Minimum commision per trade)

They also have the new IB paper trader which works just like the regular trading platform, but is simulated trading so you can try your strategies without risking any money.

Have used them for 2+ years and haven't had a problem.

Used other brokers, Datek, Ameritrade, MB trading, Morgan Stanley, IB is the only one I can recommend without any reservation whatsoever.

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