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thunderbolt, if you can keep a tight .25 stop that's great, but M-T play it pretty fast & loose. i don't see how you are going to do it without getting stopped out a lot. Do you take all their calls or a select few? Also, are they still calling exits on some plays? Thanks.
 
No I don't play everything. I play 1 at a time. And I get stopped out about once a day--sometimes more, sometimes less. I calculate averages so a 1 time phenomenon doesn't count.
 
Originally posted by GeeTO69
Tony, when did you buy ITMN, and what was your stop? I assume you are holding the others overnight? Thanks.
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Okay here we go. I suggest you right click over the attachment and choose open in new window, so you can read the explanation while looking at the image.

At 15:34:44 I entered a short sell order for 1000 shares at 45 while I had an uptick bid at 45.01. I got 100 shares filled at 45.01 and 100 filled at 45. The stock ticked down, and it was now best offer at 45 while best bid was 44.90. Next, I got hit for 600 shares at the offer. Traders who noticed that the offer on ARCA did not go away cut in front of me and offered the stock on ISLD at 44.98. I then changed my order to 44.97 (remember no one knows how many shares are behind the 100 ARCA is showing). ISLD immediately downticked to 44.95, and I changed to 44.94. Stock is trading at the bid. ISLD trader went at 44.90, and I changed back to 45. ISLD was taken out, and I got hit for 200 more at 45. My stop was placed at 45.26, but the stock never came close to that price.

The next post will cover the exit.

Tony

PS: change orders on ARCA are all for one commission ~ cool :)
 

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Stock closed at 44.44. I placed an order to buy 1000 reserve show 100 on ARCA at 43.80 and got a fill for 500 shares. I then kept playing around and changing orders. If you look right now at the bid you will see 100 on ARCA at 42.22. This is my order, but if you hit it for less than 500 shares, it will stay there :)

Tony

PS, I can also enter a discretionary order all the way up to 43.80 ... which will show a bid at 42.22. Hope this helps, it is time to wrap things up.
 

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Tell me about your experience with M-T. Also, they do occasionally call exits but I don't rely on them. If I hit big in the morning($1,000 or more), I'm done for the day. Also, I minimize losses by moving my stop up as the move goes in my favor. For example, if I enter @ 25.10, I immediately place a stop at 24.85. Then as soon as the stock moves in my favor I move the stop up to 25.10. Then if the stock continues its move, I'll place a trail of .15 for protective reasons but usually exercise a sale before it hits the stop. I always try to sell into momentum. It requires extreme concentration for the entire trading hours. I think I need glasses.
 
thunderbolt, i appreciate your replies but what do you make of this inconsistency.....


Junior Member

Registered: Jan 2002
Posts: 19


02-06-02 12:18 AM
RockTheLuker
I'm interested in M-T. Are they as good as their calls suggest?

Bolt






thunderbolt
Junior Member

Registered: Jan 2002
Posts: 20


02-13-02 10:17 PM
Gee,
You are correct. Anybody can say anything.

I keep stop losses at different levels but never more than .25. I've been there for 3 1/2 weeks and have made very consistent money. I've only had 2 days in the red, but all my up days negate them by a long shot. Average: $435.22 per day using 30K. Looking for more...



Why are you asking how good they are if you have been there for several weeks and are averaging $435.22/day?


Perhaps I should I refer to you under your M-T handle, "THUNDER", in all future posts? :)

Something is rotten in Denmark. hehe
 
Tony, so the reason you entered short was because it was on your scan (having gone up three days) and because you felt/thought/theorized that it would break the $45 support to complete a H/S formation?

Next, can I guess that your stop loss was placed around $45.10 (outside the small channel that formed from 2:40pm onward)?

Thanks!
:)

ps a good friend of mine works at regeneron REGN (always trying to get me to buy the stock! lol)
 
I've been looking for feedback too, thanks for your replies. Please excuse my suspicions if they are unfounded but your handle here is very similar to another's over there. :)

Good luck with M-T. You may see me there in there in the near future.
 
TonyOz, really appreciate the detailed reply. helps to understand the methodology behind the trades of a great trader. thanks again.
 
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