level5trading.com
- Thread starter GeorgeC
- Start date
could you actually make these trades when called or did their price slip away before you could execute?
also, what kind of stops do they use, how much red on each trade do they tolerate?
also, what kind of stops do they use, how much red on each trade do they tolerate?
or rules. They keep a .10 cent stop. If you are scalping, then you scalp, no need for an exit to be called if you know your trading style. If an exit were called, then that could kill the stock/play. Stocks wiggle, but if you know what the market is doing and listen, then you can give it a couple cents more if necessary. Like they say, "it's not an exact science, but with the right indicators and knowledge, you can put the odds in your favor."
George
George
i hear ya george! i like the fast and furious world of scalping..instant gratification. oh yeah. and conservative is good. lots of winners vs sinners. hehe.
one thing i noticed, no afternoon trades? why?
one thing i noticed, no afternoon trades? why?
My trial ended last Friday. Level5 is happy with .10 clips. My other posts state that he is new and is being very conservative. I also stated that he is friendly and helpful. I also stated that Jay at UT had an ego problem and was sometimes nasty to newbies. Someone directed Jay to my comments here on ET and guess what, he has improved his treatment of newbies. I saw an immediate change in his attitude, he even asked me directly about my comments and I explained myself, and I believe he appreciated hearing about how some of his comments are perceived by his "newbie" members.
Now on to a more important issue, that being profitability. I can not live with .10 clips. I am not ready to do 1000 or more share trades. Many of Jay's calls produce .10 or .15 clips, however many produce .20 to .50 scalps. If you are trading 300 to 500 shares, you need .30 or .40. You can get those at UT, I don't believe you will get many at Level5. You will get land-holding at Level5 and you will not at UT. It is all about what you need as a new trader.
I am glad that this open forum allows people to express themselves. I would never have complained directly to Jay about his attitude. The improvement was immediately noticeable, the very next day! That is good for Jay and all my fellow newbies. Today I let my membership expire at UT, and I will concentrate my time and efforts on the methods taught at RealityTrader. I think I have created some problems for myself by exposing myself to several methods simultaneously. I did this in an attempt to accelerate the learning curve and instead it has slowed me down due to confusion and "mixing" methods.
I hope this feedback is beneficial to others that are beginning this daunting task of learning to daytrade. I guess as long as you can continue to learn everyday and not lose your capital, you should be thankful. So far that has been my experience.
Good luck and good trading!
--arky
Now on to a more important issue, that being profitability. I can not live with .10 clips. I am not ready to do 1000 or more share trades. Many of Jay's calls produce .10 or .15 clips, however many produce .20 to .50 scalps. If you are trading 300 to 500 shares, you need .30 or .40. You can get those at UT, I don't believe you will get many at Level5. You will get land-holding at Level5 and you will not at UT. It is all about what you need as a new trader.
I am glad that this open forum allows people to express themselves. I would never have complained directly to Jay about his attitude. The improvement was immediately noticeable, the very next day! That is good for Jay and all my fellow newbies. Today I let my membership expire at UT, and I will concentrate my time and efforts on the methods taught at RealityTrader. I think I have created some problems for myself by exposing myself to several methods simultaneously. I did this in an attempt to accelerate the learning curve and instead it has slowed me down due to confusion and "mixing" methods.
I hope this feedback is beneficial to others that are beginning this daunting task of learning to daytrade. I guess as long as you can continue to learn everyday and not lose your capital, you should be thankful. So far that has been my experience.
Good luck and good trading!
--arky
is much more risky than in the morning. However there were a few more trades this afternoon, one was for .28 cents, but that's all I had when I posted. Most money is made in the morning so why put your profits and capitol on the slops when it's tougher sledding? 
Base hits are all that's needed in scalping, it all adds up. I guess that comes under patience and discipline. You get in trouble when trying to hit a home run all the time. Hey? Almost sounds like I learned something.
Base hits are all that's needed in scalping, it all adds up. I guess that comes under patience and discipline. You get in trouble when trying to hit a home run all the time. Hey? Almost sounds like I learned something.