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Lescor, What percentage of trades is buy on bid/sell on offer and filled that way? How often do you use market orders? At the end of the month, do you collect rebates or pay fees? How is your commission and fees cost in your overall ¡°business¡±? If you use IB trade retail and not trade...

One of the best advices so far, Robert. Please take note. One of the key advantages of trading stocks instead of other instruments is that you can use market breath (index future, ticks, AD,etc) as relative strength filters.

Is he really that "Cheap"?

Without Disrespect, the way NEKE trades, it is inevitable that large drawn down will occur and blowing out of the game is very possible. Every poster was cheering on him last year when he made 46.5K (20%) in one week and no one criticized how he gained that 20%. He Tripled down on GS options...

For swing trader, current lower volatility is better since overnight risk exposure is lower and commission/spread/slippage do not effect your edge much. However, for intra-day trading without a meaningful range, the game is much tougher. Commission/spread/slippage cost increases significantly...

Also Hi-Jack your excellent post from another thread here. Very well said indeed! Thank you! The true edge only lies in understanding how/why the price is making high/low of the day, the players, the market, time frame, levels. Should I get in on the other side ahead of everyone else or...

Similar trading patterns have been described by a number of people, including Raschke’s “Turtle Soup” and Trader Vic’s 1,2,3 set ups. It is one of my favorite set ups to catch reversals, and if you have disciplines waiting patiently and sticking to you stops, you have a slight edge...

The third/fourth leg up is usually the most powerful move on all time high, why? Because most people like Neke was trapped to think it is too high and were short, already double/triple down and have to cover, fueling the move explosively. It has nothing to do with News/Upgrades etc. News only...

Be like "water" - Bruce Lee

You say your logic and reasoning for a trade is simple. When you are looking at the screen before you decide to enter, do you base upon: 1. Taking advantage of other traders who are on the wrong size, trapped and have to cover? 2. Seeing where “smart money” big players want it to go? 3...

NYSESTOCKS is back? :confused:

Anyone?

Sure we all know Overnight BP 2x, Intra-day BP 4x But the problem is you do not get 4x if you have trades carry over from overnight. Here is what I found on IB site: Buying Power Buying Power represents the day trading leverage that a Reg T margin account has available. The buying...

Say I have an account at IB, $50K. Hold $100K of equities overnight, and liquidate all at the open the next day and now $50K in cash again. But how come I do not have $200K day trade BP any more, what is my BP, and is it possible to get $200k for the day?

Trading is gambling with the odds might be in your favor if you can find your edge and not letting your emotion change the odds.

Hello Robert, Fading is a valid strategy, and it is also more than 50% of my trade. However, averaging down is a loser's game. This kind of cost basis thinking is fatal to a trader in the long term. The simple truth is that the larger the loss, the more difficult to cut, and we NEVER know...

Nodoji, Started about the same time as you and followed your journal, and would like to thank you for an excellent journal. For trade/money management and scale in/out, I found Phantom of the Pits book a great help for me. For long term (swing trading) he recommends adding to winners, but...

Robert, I also trade as fader more often than follower. I have traded for less than two years and followed your trading since the beginning. FWIW here are just some thoughts: 1. Always think about what if I am wrong. 2. The sad fact about cutting loss is the larger the loss becomes, the...

Absolutely correct. With commission and slippage, it is a gamble with an odd of less than 50% on AVERAGE, and that is why statistically, more than 90% has to lose. The shorter the time frame, the more edges you have to have to overcome the friction (commission, spread). However, in short...

I should add Mschey, his posts especially on position sizing.