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Few thoughts that were running in my mind today: Why would daytraders and scalpers choose a more expensive stock (over $10) when it is easier to get in and out with a cheaper stock (providing it has liquidity and range)? What if traders of different styles combined (daily chart dip buyers...

Actually, I did use to trade stocks under $1. For my current criteria though, I would like to trade Nasdaq that are above $1 and below $10.

Thanks for the info nkhoi. You've been a great help in my "journey".

I missed LOCM. Saw it made a daily higher high but my focus was on ENCY. I got distracted with the info on my platform too. It was giving me different numbers. The premarket high of ENCY was 2.05 on the chart but my box was showing a high of 2.02 The open shows 1.87 on the 5 minute...

No, stocks below $10 but above $1. I'm observing which of the strategies works best for these plays. When I read the different threads some have bickering putting someone else's strategy down and claiming theirs is better. Why not work together and profit from those not wanting to...

The fibonacci didn't hold and price broke the uptrend line charted from 1.80 and connected to the 1.87 retracement. Currently the channel is down. There was and increase in volume when the 5 minute candle made a lower low to 1.83 but failed to travel towards the lower channel line. Would...

So far, it seems to behave according to plan. 0.618 of the 5 minute opeing range is 1.90. Time and sales was slow when it was testing that support - but will it hold?

Green seems to be coming in with some blocks. Will it break the descending trendline and the 5 minute range's high?

pre market 0.618 of 2.02 high and 1.80 low is 1.88 for ENCY. 1.618 = 1.66 2.618 = 1.44 3.618 = 1.22 5 minute opening range: 1.97 high 1.87 low

Stalk List of stocks that are active at the premarket that are below $10. LOCM ENCY (Currently below the weekly 8 ma) BRLC CTIC MTLK ( a little shy of 15,000 traded so far)

Anyone have more info on ENCY? It's quite active in the premarket but still currently below the 8 weekly ma.

Please expand.

Goal: To gather and combine strategies of professional and experienced traders and trade WITH them. Reasoning: If I trade with the pros strategies, who would go against it? One group in mind are uneducated gamblers Another group are traders that haven't mastered the discipline of...

FFHL's daily chart.

Regarding sharing strategies. Someone made a comment in one of the posts I read that we are all competitors in here. Why bother helping another trader? The way that I see it so far is: The more traders following the strategy you share, the more traders you have on your side. If...

I'm still wating for an answer to the question I posted in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=29529&perpage=6&highlight=market%20maker%20traps&pagenumber=2

Here's another thread I read recently that interest me. http://www.elitetrader.com/vb/showthread.php?s=&threadid=98206&perpage=6&pagenumber=4

In addition to the observations on the previous post, I'm also watching the 5 minute MACD with the 1 minute stochastics. Level 2 set up is currently not that great. I'm also watching time and sales if it matches the market maker's intentions.

I'm currently observing FFHL right now. Interesting that the pivot of yesterday's info is 8.42 and the 0.618 of today's high and low so far is 8.41. I wonder if FFHL will make a new daily high with volume higher than yesterday's 118,000 today. Note: This stock has not fully met my...

I noticed that the last post was on 2004. While I was in the chat room a few months ago, I remember someone commenting that shadowing the Ax is "old school" (not the exact words but the general idea on how I received the comment). I'm just wondering how powerful a Market Maker Trap is for...