Search results

I am not a Gann 'expert', but I'll toss in my two cents for what it's worth. I have never been a believer in any of Gann's methods because they are not IMO consistent or reproducible. My understanding of Gann, is that it uses angles to form the basis for support and resistance (45 degrees...

That's a tough situation. You are looking at a ~10% spread. If you must get out NOW, the only way to be sure of an exit is to get out NOW, by covering at the ask. IF the stock is an exchange listed stock, you can send a bid order to the specialist somewhere in the middle of the spread, and...

Lancer, Looks good, but I'd prefer a multimonitor setup. Do you know if that model comes with a multimonitor option? lol -Eric

I thought I'd be the first to give this answer, which likely fits many successful traders. My only training was reading books and the school of hard knocks... ;-) I've never been a believer in paying someone thousands of dollars to 'teach' you how to trade. If they were so darn good at it...

Contrary traders, such as myself, specifically look for opportunities to trade 'noise'. For example, assume that a stock is moving within a narrow range... up and down and up and down and up and down... There is really no price movement going on... Just NOISE. To profit from this, you...

That's the one! Thanks. -Eric

The worst thing I've seen on CNBC was that interview with the internet CEO that was naked... At least from what you could see on camera. The guy had his microphone wrapped around his neck, because we was wearing no shirt or tie to clip it to. Maybe someone remembers the name of the...

Amen! I haven't listened to CNBC during the trading day in years. I don't find any value in it at all. If it gets really slow during the day, I will turn on The History Channel and learn something while I trade... But, CNBC or MSNBC are both worthless inputs for a daytrader, IMO. I...

I use two 21" monitors... But I do have flat-panel envy... -Eric

I am trying to recall the current holding time required for US long-term capital gains tax treatment versus short-term gains. It used to be a one-year time frame to qualify for long-term tax treatment, but I seem to recall (?) something about this time frame being changed to something shorter...

It's a shame that the NYSE could not or would not allow electronic cancels from the book. With electronic cancels, NYSE Direct becomes a viable alternative to ECN's for listed stocks. However, being subject to the whim of the specialists in allowing your order cancel, the NYSE Direct system is...

You might try calling Brown to see if/how you can specify to have your orders routed only to NYSE. I was a Brown customer about 5 years ago (when telephone orders were the norm) and I simply had to tell the clerk to "Buy 500 IBM at the market, New York only" => and they would enter the order...

When you go high bid on an ECN... Your probably jump in front of others by one cent, right? Well, what goes around comes around! :) They've just gone one step further and automated it. I know it's annoying, but I suppose any trader would do the same thing if they had the capability at...

I completely agree that successul trading can be limited by fear, especially fear of losses, which can prevent a trader from increasing their trading size and profits. Early in my trading career, I remember a trade when I short AMGN near the close, only to have it announce record earnings and...

This is misleading data. ISLD's market share in Nasdaq has continued to grow and they remain the #1 ECN. The data put out by Nasdaq shows a lower market share, reflecting that most of ISLD's trades are now reported through the Cincinatti exchange, and not through ISLD...

Amen. -Eric

There is no doubting that other careers can be stressful, just like trading. However, when was the last time you ever LOST $5000 on a bad day working for the global company? For full-time traders, a bad month can not only mean daily stress, but also the inability to pay the morgage or other...

This may be true for a majority of traders. However, I think it is naive to say that the successful traders are 'very lucky people' any more than you might say that the players in the NBA are lucky to be there. There are many consistently successful traders that trade for their living. These...

Leland, Great topic for a thread. I think the main obstacles limiting the profits of successful daytraders are as follows: 1) Liquidity. Obviously, a trader that trades in 100 share lots will not have trouble with moving the market with their orders. However, as the capital under...

I've been using a satellite AT Financial feed for a year now, with VERY little reliability problems. I would say that the feed goes down for a few minutes each couple of weeks. Almost always, the problem is related to the satellite connection (thunderstorms, satellite uplink problems, etc.)...