did my first swing trade? 340 dollars profit.

[stock_trad3r]

Quote from prc117f:

I cancelled my GE limit order this morning I want to see if it goes over 31.10 ?

I noticed on the level II quotes ask for crazy prices like
HDSN 199,999.99 100

What is that all about? Is it possible if a buyer fatfingers an order that that guy will sell at that price?

I see even bids for pennies as well.

The TMBR guy has all kinds of wacky bids and ask.

One day you're gonna lose a lot of money. You come across as a noob.

 

[NoDoji]

Just stick with what's happening inside market, basically what you can see. I personally don't find level II useful for a whole lot other than for pinpointing pivot points during a selloff or rally. Charts are the best thing to watch. Check out the Market Guys candlestick chart seminar on Etrade if you're not familiar with this method analysis. GE's 5-minute chart showing dojis on selling pressure, at the top of an uptrend, plus traders always takes profits in about 70-90 mins. You can take your profits, or set a trailing stop and follow it up further if it gains.

 

[prc117f]

I just sold at 31.02 It looks like it does not want to go much higher past up to 31.10 hopefully

If they are not going to trade why bother putting in those prices?

I like looking at all the different screens, real interesting stuff, Whats amazing is how all this stuff is fed so fast to the computer all at one time. (level 2, streaming news info, time/sales,charts,etc..)

 

[prc117f]

Quote from NoDoji:

Just stick with what's happening inside market, basically what you can see. I personally don't find level II useful for a whole lot other than for pinpointing pivot points during a selloff or rally. Charts are the best thing to watch. Check out the Market Guys candlestick chart seminar on Etrade if you're not familiar with this method analysis. GE's 5-minute chart showing dojis on selling pressure, at the top of an uptrend, plus traders always takes profits in about 70-90 mins. You can take your profits, or set a trailing stop and follow it up further if it gains.

Thats what I am using the candle stick charts 1 minute with volume on the other half. I am going to watch that video in the evening to get more knowledge. I notice when the volume starts to go down with more some more reds than green then things seem to settle down.

I also filter the streaming news for GE so if something pops up I can see it also

 

[NoDoji]

Quote from stock_trad3r:

One day you're gonna lose a lot of money. You come across as a noob.

Every trader is a noob at some point. I started trading in February, got all excited and made a bunch of incredibly successful trades before my first big loss hit home when the market reversed. Then I read the books and took the seminars. Wrong order - start with education, then trade :eek:

 

[1flyfisher]

original poster....don't listen to this idiot who posted this, he is ET's biggest loser .......and keep up the good work. Use stops and you will do well. #1 Rule to Follow......Protect your capital at all costs.

Good Luck.

Quote from stock_trad3r:

One day you're gonna lose a lot of money. You come across as a noob.

 

[stock_trad3r]

a noob is as a noob does

 

[Epiphany]

Quote from prc117f:

I bought 1000 shares of General electric using etrade marketrader via a limit order.

I put i trade in yesterday for a limit of 30.25 since it looked like the price of that stock hits at least 30.30 or under. It automatically bought the 1000 shares for me and then I had a sell order set for today at 30.61 since it seems to hit that level or more in the day at some point.

It sold today in the morning I made 360 with subtracting commission (9.99x2) I made 340.02 dollars

Not a huge amount but it was not to bad I would venture to start out with. I did GE cause I figure it is pretty safe to get the hang of it. All those other stocks like banks and financial companies seem too risky and after reading about what happened to bear stearn I am too scared to touch them.

I will practice just trading GE for now and only 1000 shares buy and sell.

I bought 1000 shares again at 30.30 this time it did not seem like it wanted to go lower, I did miss it at a cheaper price but now GE seems to be going up. I will wait till 30.70 this time for my sell limit order instead.

I like to monitor the level 2 quotes with the ticker tape on the side and on the other screen I am using the charts and the streaming news system to keep an eye for any interesting stuff.

Ramp down your size

Start out with 100 shares - that way you learn on the 'cheap'

 

[Robert Weinstein]

Quote from prc117f:



If they are not going to trade why bother putting in those prices?

Market makers that work with a stock are normally required to "make a market" so they will always have a bid and an ask.

Being that GE is NYSE that market maker probably normally trades the stock but chooses not to at that time your watching LII

 

[dsq]

Quote from stock_trad3r:

a noob is as a noob does

shut the fck up...you havent ever traded a stock asstard...go suck your mothers nipple you 14 yr old puke.You just post nonsense all day under different id's.