Wizetrade Journal
- Thread starter mrbunnyrabbit
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Quote from Don Bright:
Be aware, Mr. and Dad Bunny...that when you trade a retail account on a nasdaq stock, that the "market orders" are likely held and traded by the brokerage firm. Scott-trade is as good as any, but keep an eye on the pricing...a nickel or a dime extra cost far outweighs the $7 trade savings.
Keep it up....and good luck to the both of you...
Don
Yo Don what's up dude?
listen, I'm not too bright at stock trading. (lol)
but answer me this.....how can they hold the order and not execute it?
and what if the mkt moves exponentially from the time of execution till they get around to executing the order?
....or maybe I'm missing something?
...or maybe they are charging a spread like in Forex trading?
just curious.
thanks
T-REX
Criteria? My usual criteria for a stock would be: Nice, fresh cross on short term, with stability and angle, same with midterm except no fresh. Long can be anything, usually I want it green. 130, 78, should have strong stability and angle. 39 should be with the flow, doesn't matter all that much. 10 minute fresh cross, stability and angle, and on the two minute, go with the direction of the 10.
How does WT scan.....do you manually enter the symbols?
Michael B.
Michael B.
Quote from T-REX:
Yo Don what's up dude?
listen, I'm not too bright at stock trading. (lol)
but answer me this.....how can they hold the order and not execute it?
and what if the mkt moves exponentially from the time of execution till they get around to executing the order?
....or maybe I'm missing something?
...or maybe they are charging a spread like in Forex trading?
just curious.
thanks
T-REX
Yo, T - back at ya!
Just where or to whom do you think a "market order" goes to? There is no single place (as with a specialist post) for the order to go. Some ECN's turn market orders into the last price (limit) order. But most retail firms just trade against the order flow, snag back a few cents and proceed. They can't really get "caught" in a quick move, because they have control over the order. If you were the firm, you wouldn't report the price back to the trader until you completed both sides yourself...right?
This is nowhere near the Fool's Game of Forex trading, don't get me wrong...it's just that I think everyone should know how the game is played before they start pointing and clicking their way to poverty.
Let's see how the bunny does....
Don
Holy %$#@#, is this really supposed to be at all meaningful to a serious trader? It's easier to interpret the quatrains of Nostradamus ...LOL
Remember...."AT the bottom of the Ocean, next to every shipwreck, you will find a chart"....(meaning that it did know where it came from, but had no way to know where it was going)...no chart will ever predict trading behavior.
Charts for analysis are a great tool...and an easy way to glance into the past...and can even be good for long term investing...but for serious trading....I think we all know better.
Proper tools for proper trading....don't try to mix and match.
OK, have some fun with it for a while, but don't get too bogged down in the TA...
Don
Shorted RHAT twice today. This second time, I used 1000 shares. It started to go down right away. I stayed with it for awhile, and then got out for a 176 profit($190). No more trades for the day... Might do another real trade tomorrow.... but after that, back to paper trades
Your just a hit n' run kinda guy....
Michael B.
Michael B.
Quote from mrbunnyrabbit:
Shorted RHAT twice today. This second time, I used 1000 shares. It started to go down right away. I stayed with it for awhile, and then got out for a 176 profit($190). No more trades for the day... Might do another real trade tomorrow.... but after that, back to paper trades