Search results

I've been day trading at Echo for a two months and do an average of 10,000 shares a day. At the moment I pay 0.0075/share (NYSE). I'm wondering how much volume I have to do daily to negotiate what appears to be the industry standard of 0.005/share. My volume is slowly rising as I gain...

Yesterday's trade 1: I have some advice for you Awash...when you are in a losing trade the only indicator you should be looking at is the price....nothing else.....anything else is just rationalizaion. When you enter a trade you should have a specific number in mind where you will exit if the...

You are taking a planed approach to trading which is the one and only path to success. Keep up the good work Awash and continue to learn from your mistakes.

Hey Awash....what happened to your entry for the day (Tuesday, Sept 2)? Great breakout day...hope things went well for ya. Peace

But to answer your question specifically Awash, I like to take my signals form action that takes place after the open...and here is why... We as traders are trying to gauge demand and supply because that is what moves price. Now I really don't think you can accurately gauge buyers and...

I don't think of myself as a "divergence trader". But I went short the market (SPY) with allot of conviction due to the confluence of several factors. 1) the market gapped up (and when it does this I typicaly look to fade the move but first I need some more signs that I'm correct in the...

Wish I could...but out of respect to him and the other traders in his crew that trade the same way. I really can't talk too much about it. I don't understand why I can't (cause even if I told you what software we use, you'd still have to learn to program it)...but that is what I was told.

Ya I'm a big fan of Douglas'. At the moment I'm mentoring with an experienced trader and since the mentorship began one of the things that has stuck me is how the guy thinks. Without even knowing it he has a frame of mind that Douglas describes so well in his book. And of course he makes...

Sorry about the typos fellow traders….I’ll try and proof read more carefully next time.

You say you convince yourself of this and that.....I do the same thing sometimes. IT IS A TRAP. A mental trap. The only thing you should convince yourself of is that anything can happen. ANYTHING! Today was a good example…everything was pointing down and then the short squeeze kicked in...

Not sure if you're familiar with the spring and upthrust patterns that form after a flase breakdown/breakout occur. But I'm finding them to be high probability trades. Today's action (Monday Aug 25th) provided a prime example of a spring pattern. A spring pattern forms when the market...

That post should be published.

Have you read Mark Douglas' "Trading in the Zone"? You appear to be well versed on TA and your system reflects considerable knowledge and research. In other you're commited and you've done your homework. But I think your issues are psychological (as is the case with most of us). I've...

I don't have squak box...I use e mini charts as a leading indicator...I tried squak and found it to be distracting (some traders love it though). I'm not sure what you're asking about with your reference to "chatroom"?

I suppose it all depends what kind of software you are using. But I'll tell you a little about my current set up. I filter trade NYSE and trade the SPDR (SPY) ETF on the side. I've got four 15 inch LCD monitors. From my left to right....The monitor to my left is equally partitioned...

My account at IB fell below 25K on a number of occassions and was never restricted for 90 days. I tried to explain exactly how it works in my last post on this thread, so go and read that if any of you are still unclear about the rule as it applies to IB accounts. One point I should make...

Ok first of all I can't speak for futures traders, because for one I don't trade futures and neither do any of my peer traders. But I can speak for NYSE stock trading. And I would like to point out that there are people day trading NYSE making consistent money nearly every day. One trader I...

Ok first of all I can't speak for futures traders, because for one I don't trade futures and neither do any of my peer traders. But I can speak for NYSE stock trading. And I would like to point out that there are people day trading NYSE making consistent money nearly every day. One trader I...

At IB if your account falls below 25K you are limited to 3 day trades per 5 day cycle. This rule is hard coded into their system. The moment your equity falls below 25K the system will look back over the last 5 days and calculate the number of day trades you have made. If that number is...