Umm, a journal

I

illiquid

Hey all, wanted to post a few charts, get some feedback, etc.

I'm primarily an intraday trader, with 80% of my trades being closed by eod (the other 20% are the losers I averaged down on of course -- JK! :D) I trade only on nasdaq and certain indices on amex.

I do alot of scalping flips for .20-.30 but I don't think they're worth the bother of posting. The majority of the longer term (hold time from 1hr to over several days) trades I do are based on divergences -- stock vs ND, stock vs sector, ND vs SP etc. Pretty simple stuff, but trades that are good for just about any position size, and that's important to consider as one's equity grows (hopefully).

I'll start off posting a couple of charts from past couple days that I keyed off of. Starting monday I will begin to post longer term trades in real-time, with the charts coming after close.

Let me know what you think . . .
 
This NQ/ES divergence on thursday was the major tell for me and colored my trading for friday as well. When nasdaq manages not to join the spoo in breaking fresh bottoms, always sticks out like a sore thumb.
 

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Originally posted by illiquid
This NQ/ES divergence on thursday was the major tell for me and colored my trading for friday as well. When nasdaq manages not to join the spoo in breaking fresh bottoms, always sticks out like a sore thumb.
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Good setup. What have you found when ES holds, rather than NQ. I find NQ leads ES more than the reverse.
 
If you are able to consistently make profitable trades of 20 or 30 cents per day, on several stocks, why not just do that on 1000 shares, make 5 trades and make $1000 TO $1500 per day? That's a good living, and you don't have to take that huge risk of naked overnight positions?
 
Originally posted by CuteGirl


Good setup. What have you found when ES holds, rather than NQ. I find NQ leads ES more than the reverse.
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Same here, I usually don't put much faith in the reverse situation with the greater volatility being in the nasdaq.
 
Originally posted by mschey
If you are able to consistently make profitable trades of 20 or 30 cents per day, on several stocks, why not just do that on 1000 shares, make 5 trades and make $1000 TO $1500 per day? That's a good living, and you don't have to take that huge risk of naked overnight positions?
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That's the limitation, most of the stocks I watch are very difficult to scalp beyond 1000 shares, as the gains one scalper makes is usually at the expense of another. I consider any profits I make in scalping icing on the cake -- I'll be the first to admit that the greater percentage of my winners in scalping are due to pure luck than anything else. That's also why I don't believe anyone will benefit from reading someone posting trades that last 10 seconds or so. A movement of .20-.30 occurs about 5-10 times per minute in any given nasdaq stock and I'd rather take positions beyond the frame of short-term noise, if only for the fact that I'd be better able to identify the reasons why a trade succeeded or failed in retrospect. Only advice I have for those wanting to scalp is to BID when the tickers are red, and OFFER out when its all green . :)

As regards to overnights, its all about risk vs reward, and yes these days I try to clean out my positions before day's end but certain trades I find are worth the risk. I started out trading off daily charts so it's not too scary for me. Of course, you gotta make overnight positions a fraction of the size of your daytrades.
 
Here's another chart from thursday, and this divergence actually preceded and IMO predicted the NQ/ES divergence of the same day. I think certain stocks can actually give you a head start on the nas futures, of course I might just be seeing things. :D
 

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This one was pretty unusual, a multi-day divergence in a high profile Nasdaq name. By 7/10, I was looking for any excuse to get long and stay long, but the evil voice inside my head whispered "too obvious, idiot" and I sadly missed out big time. This would be the kind of setup I wouldn't mind holding on overnight -- if it was any other name but BRCM !! But maybe that's why the trade would have worked out so well hehe. Damn them fundamentals! :D
 

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