Controlling & maximising risk is certainly key here but man, when they have quick sudden adverse movement against you, you end up getting out at a much lousier price than planned. And if you do not get enough stocks that move in your favour by a fair bit of range, all your little losses will add up.
Adapting to the Hybrid
- Thread starter JGTrader
- Start date
Here's what it be.
Participants engineer price traversal designed to maximize uncertainty , minimize frontrunning, maximize discombobulation, maximize adverse movement, minimize price slippage, maximize stress for scalpers, minimize loss to chislers, and maximize cost efficiency of position.
Clear?
Participants engineer price traversal designed to maximize uncertainty , minimize frontrunning, maximize discombobulation, maximize adverse movement, minimize price slippage, maximize stress for scalpers, minimize loss to chislers, and maximize cost efficiency of position.
Clear?
Stock777,
Make fun all you want. The fact is that this is happening. I have been trading for almost 12 years now and have gone through all of the various market environments in that time, and this is the worst that I have seen.
Maybe it is just a factor with the particular broker I am using or how they route their orders, I don't know, but I can tell you for a fact that "someone" out there knows exactly where I am positioned and directly trades against it.
Count yourself fortunate that you have not been targeted or you would be singing a different tune.
i am not sure about it...on a note it was me who told u about your s/r entries but i didn't flame u! it could all boil down to mass psychology and subconscious, i mean, movements are created by the mkt participants psychology as a whole and u may not know it but u open uself as a tgt; i say that because it happens to me at times, but not often enough to make me think it is a conspiracy.
Bitstream,
You may very well be correct that this is a mass market psychology issue and that I may unconsiously be opening myself to being a target, I don't know, and obviously I don't know how I am doing that.
I can understand and accept that with entry as a single trade, say 1000 shares, that some algo will target my order and use it as a swing point. This is trading and has been happening for many more years than I have been trading.
However, what make me suspicious that there is something else going on is that this happens even though my average entry price is the result of a single trade or multiple trades, eg. 10 orders for 100 shares at various prices. Somehow the "market" knows exactly what my average entry price is and that point becomes the support/resistance point, to the penny!
Now how is that possible? This happens to me 75% of the time!!!
This one is easy for you to figure out, just look at charts or beta's of the SHO A list.
http://www.nyse.com/RegulationFrame...www.nyse.com/regshopilot/nysepla20060904.html
Echo,
Are you scalping? I think these issues really hurt scalpers the most. Perhaps those that don't agree or see what we are experiencing is probably day trading at a higher time frame than scalpers. Because if your intention is to get in based on some chart pattern and just hold WITHOUT watching level 2, then you won't notice these things. I know some dudes who trade strictly using line charts and they just hold till it breaks the previous pivot. They try very hard to avoid level 2. They make a lot and I'm sure they lose big too. But i don't know what their net is because most don't tell you when they lose big. But if you are scalping like me, these things will happen and you just have to realize it when it is happening and just get out. And try again when you know with some certainty that there are a large influx of buyers coming in following your long order or vice versa for short (These are the best trades for scalpers, imo).
We may have steered this thread away from the topic a bit too much
...Sorry about that. Back to Hybrid: I scalped RHT all day yesterday and it was a hybrid and I was able to make money just like I was able to make money in ODP a couple of weeks ago when it came out with earnings. The good thing was that it traded just like nasdaq except for the specialist monkey who kept on with his spreading up and down game. But I noticed that his spreading does not affect these tight spread hybrids that much. The market tends to ignore him since he's only spreading away by 1 or 2 cents. So my take is that if you stick with nyse stocks that have tight spreads and volatility, you can trade these hybrids just like nasdaq. But if you go trade gs, nyx, ms, then it's very different even though they are hybrid because of the specialist's erratic spreading games...Yesterday, nyx was aproaching 97.80 rallying of the low and I place an order to short at 98.10, the guy spreads up and fills me at 98.10 and immediately came down to 97.80...An instant 30 cents...It can go the other way too, so to avoid this, its better to stick to thick stocks. I am re-thinking my crazy spread trading strategy too..
Are you scalping? I think these issues really hurt scalpers the most. Perhaps those that don't agree or see what we are experiencing is probably day trading at a higher time frame than scalpers. Because if your intention is to get in based on some chart pattern and just hold WITHOUT watching level 2, then you won't notice these things. I know some dudes who trade strictly using line charts and they just hold till it breaks the previous pivot. They try very hard to avoid level 2. They make a lot and I'm sure they lose big too. But i don't know what their net is because most don't tell you when they lose big. But if you are scalping like me, these things will happen and you just have to realize it when it is happening and just get out. And try again when you know with some certainty that there are a large influx of buyers coming in following your long order or vice versa for short (These are the best trades for scalpers, imo).
We may have steered this thread away from the topic a bit too much
...Sorry about that. Back to Hybrid: I scalped RHT all day yesterday and it was a hybrid and I was able to make money just like I was able to make money in ODP a couple of weeks ago when it came out with earnings. The good thing was that it traded just like nasdaq except for the specialist monkey who kept on with his spreading up and down game. But I noticed that his spreading does not affect these tight spread hybrids that much. The market tends to ignore him since he's only spreading away by 1 or 2 cents. So my take is that if you stick with nyse stocks that have tight spreads and volatility, you can trade these hybrids just like nasdaq. But if you go trade gs, nyx, ms, then it's very different even though they are hybrid because of the specialist's erratic spreading games...Yesterday, nyx was aproaching 97.80 rallying of the low and I place an order to short at 98.10, the guy spreads up and fills me at 98.10 and immediately came down to 97.80...An instant 30 cents...It can go the other way too, so to avoid this, its better to stick to thick stocks. I am re-thinking my crazy spread trading strategy too..Quote from Scalper007:
Echo,
Are you scalping? I think these issues really hurt scalpers the most. Perhaps those that don't agree or see what we are experiencing is probably day trading at a higher time frame than scalpers. Because if your intention is to get in based on some chart pattern and just hold WITHOUT watching level 2, then you won't notice these things. I know some dudes who trade strictly using line charts and they just hold till it breaks the previous pivot. They try very hard to avoid level 2. They make a lot and I'm sure they lose big too. But i don't know what their net is because most don't tell you when they lose big. But if you are scalping like me, these things will happen and you just have to realize it when it is happening and just get out. And try again when you know with some certainty that there are a large influx of buyers coming in following your long order or vice versa for short (These are the best trades for scalpers, imo).
We may have steered this thread away from the topic a bit too much
I am not scalping, usually I am looking for a short term intraday swing trade, maybe .40 to .50.