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For those of you trading stocks, please create some new threads in the Stocks section of the forum. Thread title is basically the stock symbol/company name, and within the thread you can post some charts and talk about what you are seeing on those instruments.
It will foster new discussion for stock traders on the site.
I've invested in stocks for decades and day traded for a while a few years ago but lately tend to swing trade them only in my retirement accounts--an activity I consider low risk given the nature of the accounts. I also hold a number of high yield Canadian income trusts (on their way out) and stocks derived from them, trading them rarely--maybe a little market/economic cycle trading.
I subscribe to a 3rd party system--kind of mickey mouse but costs only a dollar a day and implements a number of techniques I'd use myself if I ever get my own system off the ground. The features of the system I depend on most are derived from Gann S/R levels (similar to the Murrey Math indicator) and a derivative of Hurst's cycle trading method, but find most of the features more helpful than not.
In preparation for cobbling a system together I've been capturing closing data for all North American exchanges from another service for over a year now via a PHP script running as a scheduled event in Windows. The script is capable of updating a MySQL database but that part is not automated.
That said, since discovering that I can use margin without bankrupting myself I've been pretty much focused on currencies and futures for the last year or so at the expense of stock trading, and am considering learning something about resource & agricultural commodities.
Day trading for me is mostly futures but I do trade stocks probably 2 or 3 times a week. Either because the futures are going nowhere or I'm in a trade and just sitting there waiting for it to play out.
I'd certainly like to discuss this more here.
I moved to futures after seeking mentorship on tape reading as I found it hard to use T&S with L2. After spending time learning the 'art' on futures, I have found that T&S and L2 has become much easier - although this could be luck as I'm not trading it all the time.
I'd love to have discussions about the tape reading/order flow aspects.
I 've been very interested in tape reading. Have tried to view all materials about it, but still don't have a good grip on how to use it. What has made most sense to me, has been the cumulative delta indicator representations of bid/ask volume. Just looking at the T&S window generally just frustrates me, as It is hard for me to pick patterns that way. How do you use T&S tape reading it in your trading?
I think IB is pretty good for equities as a broker. I used Worden stuff most recently, mainly for the scanning capabilities, and I would go back to it if I was getting heavy in stocks again.
Scottrade, TDAmeritrade and ToS. IB is great, $0.50 commission per hundred shares. I use IB's BookTrader with is a price ladder. I can trade everything and anything around the world. But I am using NT7............for my technical analysis for stock trading. I am trading stocks and options because I don't have my game together for futures or forex.....yet. I am trying to pull it all together........now. I do trade stocks live, but this week I have been working on some new ideas, so I sim traded. And the stock market was in "no mans land" this week. Today, I made two short (200 share) trades on SSO, S&P 500 Ultra ETF.for 132 pts.
I am working with all the great ideas on futures.io (formerly BMT), which I used in today's trades. Trading is trading, no matter what. And I also have a stock trading coach from 9:00 to 11:00 that is teaching me to trade "his way". But "his way" works with weekly, daily and 15 min charts. Mainly you trade the daily chart that trades with respect to the weekly and you maintain the daily based trade with the 15 minute chart.
Anyhow, I attached the images of the two trades. And I love Iron Condors.
I have been slowly migrating towards futures' contracts but still, half my trades are using stocks/ETFs (which is good because my expectancy is still better there). Anyway, i trade with IB and use Esignal for my charts.
Have a great weekend
