Is everyone making a Ton of $$$, if not, then WHY?

Quote from QQQBALL:

its a great feeling when you're in the zone. nice discipline! love shuttling the kids around - for many years i took the kids to school appx 7 am PST and returned about 7:45-8:00am... had to avoid the open and missed couple of reversal time periods EVERY DAY!
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A limo driver would be cheaper, all kidding aside.

Look at what happened since I left at about 11:15. Trades I would have made.

PD Short off 11:18, would have been Stopped for $100 loss.

PDShort off 11:34 for a .46 cent gain on 1,200 shares or over $400.

PD Long off of 11:58 bar, didn't trigger until 12:12 bar, high of .24

FCX Short off 11:16 bar, 500 shares for a .30 cent gain.

NEM Short off 11:20 1,500 shares for a max gain of 50 cents or $750.

NEM Long off 11:52 1,500 shares for a gain so far of .32

I could have bought a LIMO, LOL.
 
Hi F-Trader
Great ades today..I was paper trading your 2 minute bar method today..and made some nice profit on paper.. if you don't mind me asking do you look at $nya composite chart or sector of stock you are trading in your decision making...trading NYSE stocks are new to me..I have only trading Nasdaq in the past ...do you find you get fills quickly? I appreciate any help..thanks
Jim
 
Quote from s.s7:

Hi F-Trader
Great ades today..I was paper trading your 2 minute bar method today..and made some nice profit on paper.. if you don't mind me asking do you look at $nya composite chart or sector of stock you are trading in your decision making...trading NYSE stocks are new to me..I have only trading Nasdaq in the past ...do you find you get fills quickly? I appreciate any help..thanks
Jim
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I have an S&P chart up, I monitor it but nothing more.

I trade off sector charts such as GOX (Chicago Board Options Exchange Gold Index) and the COMEX GOLD current month which is August, next is October.

I trade thru ECNs and I trade High Volume stocks, no less than 4 Million shares per day.

I normally get filled wihtin 4 seconds, if not quicker.
 
Quote from F-Trader:

Yes, it was a great area to short because you weren't chasing it.

99% of the time my Stop is 1-2 cents above/below the previous 2 min bar.

These metal stocks do not consolidate much, they are either going up or down, unlike other stocks which trade in congestion.

I normally risk $110. Here is my formula. I take the range of the previous bar that I am going to trade from, say the bar had a 12 cent range. I take 100 divide by 12 cents which gives me approx 800 shares for a $96 risk. I allow $110 becuase of slippage, fast market, etc...

If the stock has a 30 cent range then only 300 shares.

If a 5 cent range then I will normally not go more than 1,500 shares. I will add to my position if I see another nice set up, but normally I enter the full trade and exit in full. I do not scale in or out that much. It's usually all or none.
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Thanks for the insight. I usually set tight stops when trading GLD or GG but wasn't sure how to approach PD since the bars are much longer. My biggest problem to date has been avoiding the consolidation chop zone. I do well on the big moves but loose much of my gains during the consolidation. Setting tighter stops may be the answer.

I also entered PD off the 10:44 bar and jumped ship at 11:10 for a .30 gain. My only trade today, other than entering GLD off the 15:06 bar. Still waiting to see how that one turns out.

In any case, I appreciate your taking the time to respond.
 
When I notice we are in a consolidating period, I walk away.

I will then wait until the stock makes it's next move, after this move I will look to enter a trade.


Did you catch PD off the 15:20 bar? 5 cent risk, so far UP .40:)

Damn, PD fell out of bed at the close.
 
Quote from F-Trader:

When I notice we are in a consolidating period, I walk away.

I will then wait until the stock makes it's next move, after this move I will look to enter a trade.


Did you catch PD off the 15:20 bar? 5 cent risk, so far UP .40:)
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No I didn't catch that one and I am kicking myself. I was busy watching my GLD and missed PD. I am only using one monitor and I had the PD chart minimized.

My chart times might be a little different than yours. At 15:20 I am shoping a high of 80:40 and a low of 80:32, a .08 range

At least I got out of the GLD with a small profit. Did you get out of the PD before it took a dive at 15:52?
 
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