My thoughts exactly.
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Need help daytrading QQQQ
- Thread starter unet1604
- Start date
Anyone else want to chime in with some helpful advice? If not I'll answer later, I have a prior engagement. Sorry.Quote from HAL 9000:
How difficult is it to get in short on an uptick while a stock is trading down? Almost impossible? Aren't there upticks during a candle? That's what the wicks are right?
It is not impossible to go short during a downtrend. Sometimes people think it is, but it isn't. It is however much more difficult. Selling short adds to the selling pressure of a stock, further widening the bid:ask ratio and driving the price further down. Getting fills on a quick uptick is possible. Getting significant order sizes and quick fills is, however, difficult. (as I said before I don't short stocks, I play with ETFs, so anyone with more knowledge and experience shorting stocks should probably chime in here at anytime.)Quote from HAL 9000:
How difficult is it to get in short on an uptick while a stock is trading down? Almost impossible? Aren't there upticks during a candle? That's what the wicks are right?
And also, how long is an uptick? Anytime a price trades up higher by one tick or more? Is there a specific duration required?
Yes there are upticks during a candle, and upticks last as long as the price is trading higher than the last lower trade or at the same higher level as the last trade that was above the previous lower one. (what?)
I'd also like to suggest to you, searching for a book geared toward beginning day and swing traders. There are several books listed in the "Books" section of ET, the link to which you can find at the top of the page. I really wouldn't recommend any one of these books over another, as I haven't read them all, and because I really haven't read many "introduction" books in general since I started trading. Most of these books will cover the basics of trading and tech/fundamental analysis. Some have more depth than others, but just about any could provide you with a wealth of more knowledge than what I could post here. Read other users reviews, and search through bargain bins. Most traders had a book that they read when they started out that they swear by. I bought several books when I was starting out, the one I thought was the best also happened to be the cheapest. It's probably too dated by now for me to recommend it, not one example given in the book used decimals. Ever heard of teenies? My point exactly. Like I said before, Reese's...
Quote from HAL 9000:
And also, how long is an uptick? Anytime a price trades up higher by one tick or more? Is there a specific duration required?
Thanks to any who answer.
i trade gappers down from -5% to -20% or more and those stocks are tumblin' due to news, so liquidity is just huge, millions of shares are traded during the first 5min candle and gettin' shorts filled is pretty easy...of course sometimes if u dont get in at open or there about, especially if stock is in free fall, u might not have a second chance cuz all the shares to short are sucked quick due to high demand; an example would be pozn on friday. but yeah, no much problems with fills if shares are available.