Can any full time day traders that trade stocks please raise their hands?

[richie90]

Hitting the bid and offer?

Do you ever rest orders in the market and risk adverse selection?

99% of the time, I never hit the bid or the offer. I never run after a stock.
Yes, I do occasionally rest orders away from the market price, especially with MU since it a daytraders dream stock IMO.
MU is my favorite for being risk adverse. If and when AMD goes below $8, I will stop trading it and select another stock from my 6 stocks watch list. Watch list criteria is >4m+ daily volume, $10-$20 price, daily range (+-) 20-50+ cents.
CNBC is OFF, only aware of earnings date of my 2 trading stock and about 5 related.

 

[777]

99% of the time, I never hit the bid or the offer. I never run after a stock.
Yes, I do occasionally rest orders away from the market price, especially with MU since it a daytraders dream stock IMO.
MU is my favorite for being risk adverse. If and when AMD goes below $8, I will stop trading it and select another stock from my 6 stocks watch list. Watch list criteria is >4m+ daily volume, $10-$20 price, daily range (+-) 20-50+ cents.
CNBC is OFF, only aware of earnings date of my 2 trading stock and about 5 related.

Are you not worried about adverse selection with orders resting in the market (algos sub-pennie in front of you when things look good and letting you fill when the price is more likely to go against you)?

Mu often flows well with the market; do you follow market flow with indicators like the ticki, or tick, etc?

Do you favor NASDAQ over NYSE (or visa versa) for any reason?

Thank you for sharing.

 

[jordi-pt]

Are you not worried about adverse selection with orders resting in the market (algos sub-pennie in front of you when things look good and letting you fill when the price is more likely to go against you)?

This is way he is trading superliquid stocks with basically 0 spreads (my guess)

 

[777]

99% of the time, I never hit the bid or the offer. I never run after a stock.
Yes, I do occasionally rest orders away from the market price, especially with MU since it a daytraders dream stock IMO.
MU is my favorite for being risk adverse. If and when AMD goes below $8, I will stop trading it and select another stock from my 6 stocks watch list. Watch list criteria is >4m+ daily volume, $10-$20 price, daily range (+-) 20-50+ cents.
CNBC is OFF, only aware of earnings date of my 2 trading stock and about 5 related.

Do you prefer the two stocks you select from your candidate list be correlated in some way?

 

[777]

99% of the time, I never hit the bid or the offer. I never run after a stock.
Yes, I do occasionally rest orders away from the market price, especially with MU since it a daytraders dream stock IMO.
MU is my favorite for being risk adverse. If and when AMD goes below $8, I will stop trading it and select another stock from my 6 stocks watch list. Watch list criteria is >4m+ daily volume, $10-$20 price, daily range (+-) 20-50+ cents.
CNBC is OFF, only aware of earnings date of my 2 trading stock and about 5 related.

Mu is far outside your watch list price criteria.

What is your take on MU?

 

[richie90]

Do you prefer the two stocks you select from your candidate list be correlated in some way?

Only correlations that matter for me ... is that their is price action(volatility), high daily volume (liquidity), affordability ($10-$50 per share) ... and for lack of a better word " a stock that's not going, to go out of business overnight"

 

[richie90]

Mu is far outside your watch list price criteria.

What is your take on MU?

My watchlist are 6 stocks that in the $10 to $20 range ....keeping my eye on them ... and will start to trade 1 of them, only when 1 of the two stock that I currently trade, become unsustainable to me ... meaning less that $8 or more than $50.
MU is approaching $50 ... when that happens , I will drop MU and find another candidate from my watch list to trade. AMD is also approaching $8 ... I will do the same and drop AMD if that happens.
In the wide world of stocks , there are many that meets my requirements of Vol, Price and daily range. I only trade any 2 stocks at any given time. And usually stay with them for a long time.... because they keep giving and giving ...
I don't personally have a "take" on MU or AMD except it can make me money daily.

 

[richie90]

Are you not worried about adverse selection with orders resting in the market (algos sub-pennie in front of you when things look good and letting you fill when the price is more likely to go against you)?

Mu often flows well with the market; do you follow market flow with indicators like the ticki, or tick, etc?

Do you favor NASDAQ over NYSE (or visa versa) for any reason?

Thank you for sharing.

I favor NASDAQ only because of pre-market and after-market trading opportunities.
Algos, news, geo-politics etc etc etc ..... are only noise to me .... they do their thing ... and I trade the price action....
Sub-pennies traders are on a different level than me, I trade for 15-50 cents profits and a fraction of a penny is not that important for me. Price per trade is more meaningful to me.

 

[777]

I favor NASDAQ only because of pre-market and after-market trading opportunities.
Algos, news, geo-politics etc etc etc ..... are only noise to me .... they do their thing ... and I trade the price action....
Sub-pennies traders are on a different level than me, I trade for 15-50 cents profits and a fraction of a penny is not that important for me. Price per trade is more meaningful to me.

Do you watch the market action, perhaps up and down ticking stocks or the futures, as well- to help trade your stocks?

Do you pay attention to anything other than price, like Level 2 or the order book?

You have been doing this a long time now and through worsening conditions.

 

[jordi-pt]

Hands Up ! exclusively MU and AMD

Just curious, how long have u been trading this strategy? I know a guy doing something similar but trading oil related stocks