Recent content by trader_404

You either have direct market access (DMA) which all pros have, or you don't. If you don't, your broker puts in a direct order for you. You are infact trading the same market as everyone else, just most likely through a middleman.

Hey she's better to listen to than screeching Maria, and look at. Although she always says 'China' like 'Chiner'.

It's called momentum. Use your observation as a cue to the strength of this stock, and market.

I work for a prop firm in Austin, and we flew Mike B and Steve Spencer down for a weekend to talk to us about their trading etc. So somethings I walked away with are: * once upon a time tape reading was super easy and you could crush in play stocks. Plenty of our old traders did this...

Finviz.com , click on "Screener", then "All". You can filter by average volume or today's volume. You can also use Google Docs spreadsheets and put in some financial formulas that pull data like price, volume, etc.

Just an idea: to collect intraday data i've found it pretty easy to import real time price (or volume etc) using DDE into Excel. Many broker software packages support this (thinkorswim for example). Then you can just write a simple macro that copies the price data into columns. I snapshot...

I second this. It makes complete sense to me that if you put on a long position at Support, which just means you expect other people to buy there also, that you look to unload that long into resistance, or where you think people will be selling also. So if you are long, and you notice...

Different traders have different opinions on when the optimal points to take profit occur in a trade. For me, I've realized that scaling out at multiple price levels helps my psychology a thousand percent, which in turn boosts my consistency over time. For instance, if Im riding out a...

First of all, whoever you are working for is going about new trader limitations all wrong. Yes, new traders should have a position limit (my firm was 100sh also), yes new traders should have a daily stop loss (ours was $200-$400 depending on what happened), yes you should probably not trade any...

Yeah I saw that other thread: it was mostly a 9 page feud over Don Miller's site. Thanks for the links

I'm interested in finding out if there exist any good blogs on intraday trading the SPY (or equivalently eminis). There are plenty of crappy sites that would like to sell strategies; not what Im into. Im looking for educational sites that perhaps review the trading day and discuss good...

I just finished a great book on the subject of Fibonnaci and geometric patterns. Also covers AB=CD patterns, Gartley 222 patterns and Butterfly patterns in depth, with both intraday and position trading examples. For each method, they also point out a failed pattern example, and discuss...

Prop trading. Far less hours, potential for far higher pay. Big learning curve though, atleast a year to make minimal bank.

I'll second www.market-topology.com . but argue that it IS free, just have to make a username/password. You can enter any stock, and it finds the most closely correlated stocks/ETFs sorted by R-squared.