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Any stock traders on BMT?
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Any stock traders on BMT?

  #21 (permalink)
 Vendor: www.emsysinc.com 
Connecticut
 
Futures Experience: Intermediate
Platform: Various
Favorite Futures: Stocks & Futures
 
Posts: 8 since Jan 2011
Thanks: 1 given, 6 received

I trade portfolio stock systems with IB, usually the systems run on a portfolio of 100 stocks. Commissions are good, mobile applications so I can monitor things if I'm away, no complaints here.

Regards,
Guy

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  #22 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
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monpere View Post
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?

T&S is a lot easier to read on stocks that have a moderate volume - i.e. not the Citi 300 million per day. CD is good to track moves over time. Certainly easier than trying to track ratio of buyers to sellers in your head.

Where you get the benefit is using T&S in conjunction with Level 2. Level 2 shows you intent and a lot of it is fake. For instance you might see a rising stock come towards a price on level 2 with a lot of size on the offer. When it gets there you see those offers shrink rapidly as orders hit it - this is a fairly good indication that the size was fake (or it's real and being eaten) and that in the short term a continuation up is more likely.

T&S alone will let you monitor the pace of the market. For example - if you see 2000 buys tick up, 2000 buys tick up, 2000 buys tick up, then 10,000 buys NO tick up - you know something is changing. Alternatively if you see diminishing volume as you tick up, this also tells you something.

So - you can see short term moves that would not be apparent on a chart or on the cumulative delta. If you combine this with price action - i.e. a short term move indicated by T&S/L2 that is occuring at a place price action dictates a longer term move could occur, then you have a chance that there will be follow through on the move.

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  #23 (permalink)
Elite Member
Dartmouth NS
 
Futures Experience: Intermediate
Platform: MC, MC.Net, NT, TWS
Broker/Data: IB / IQFeed / Kids
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MetalTrade View Post
What software / brokerage do you use for trading stocks ?

Interactive Brokers.

I was at first wary of them given the bad things some folks say about them on the Internet, but I've come to believe they cater to the knowledgeable investor and hence hand you more than enough rope to hang yourself, which apparently some seem wont to do.

Tax reporting could be better.


Last edited by bnichols; March 4th, 2011 at 10:49 PM. Reason: Just kidding
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  #24 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
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bnichols View Post
Interactive Brokers.

I was at first wary of them given the bad things some folks say about them on the Internet, but I've come to believe they cater to the knowledgeable investor and hence hand you more than enough rope to hang yourself, which apparently some seem wont to do.

Tax reporting could be better.

Totally agree - IB are fantastic.

Park 100% of your money in long term stock holdings then trade the day margin on futures with the same money. Double bubble.

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  #25 (permalink)
Elite Member
MN
 
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jmjstrider,

Are you still in that room? I went to the chat transcript from yesterday and I didn't see your name. Or did you move to a different room or are you just trading on your own now?

Thanks
rptrader

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  #26 (permalink)
Elite Member
Hickory, North Carolina, USA
 
Futures Experience: Intermediate
Platform: Ninjatrader 7
Broker/Data: Velocity/TT
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rptrader View Post
jmjstrider,

Are you still in that room? I went to the chat transcript from yesterday and I didn't see your name. Or did you move to a different room or are you just trading on your own now?

Thanks
rptrader

Hello,
Haven't been in that room for several weeks.
Right now I'm SIM trading TF and Y and getting ready to go live in the next week or so.

I'm finding these futs to be much more readable for me than scalping stocks for a dime.

fwiw, I cannot recommend that trading room.

strider

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  #27 (permalink)
Elite Member
MN
 
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jmjstrider View Post
Hello,
Haven't been in that room for several weeks.
Right now I'm SIM trading TF and Y and getting ready to go live in the next week or so.

I'm finding these futs to be much more readable for me than scalping stocks for a dime.

fwiw, I cannot recommend that trading room.

strider

strider,

Thanks for the reply. So you're happy with switching from stocks to futures then? Are you using a futures room or trading your own strategies?

And thanks for the heads up about the room. I checked it out but there seems to be WAY more random typing than trade calling.

rptrader

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  #28 (permalink)
Trading Apprentice
Hereford UK
 
Futures Experience: Advanced
Platform: IGindex
Favorite Futures: stocks
 
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Posts: 9 since Jul 2011
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I trade stocks only. In UK.

Apart from the very occasional tiny bet on certain indices, I trade stocks exclusively. But I am based in the UK, so the stocks I trade won't mean anything to US viewers. Neither will the fact that I trade almost entirely via spreadbets. Been trading for a living since quitting paid employment Xmas 1997. Generally small/medium stocks.

The only US stock of interest to me at present is Smith Electric Vehicles. But that ain't available yet (Nasdaq ipo supposedly this year). I have a stake in Tanfield Group - the UK engineering company that used to own Smith, and which currently maintains a 32.2% stake in it. I'm naturally hoping that any pre-ipo hype will drive up the percieved value of Tanfield's stake - and crossing my fingers that Tanfield don't sell down their holding before the ipo announcement emerges.

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  #29 (permalink)
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
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Posts: 514 since Dec 2010
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Currently using TDA, with their ToS, which I had been playing with before the acquisition...

OEC for futures, although I have an equity account there too. Better commissions than TDA, so I've contemplated using OEC for all of my stock, ETF and options trades, but I don't think I'll give-up TDA for two reasons: ToS (great for options) and the data.

What brokers offer NYSE and NASDAQ volume, put / call ratio data, advance / decline info and / or the McClellan Oscillator?

I've checked with OEC, and they don't offer this data. OEC has TICK, TRIN and the VIX, which I like for sure, but TDA has those also...

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  #30 (permalink)
Trading Apprentice
Hereford UK
 
Futures Experience: Advanced
Platform: IGindex
Favorite Futures: stocks
 
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Posts: 9 since Jul 2011
Thanks: 4 given, 9 received

Smith ipo imminent?


In my July 23rd post I indicated that I was awaiting news of an ipo for Smith Electric Vehicles on the Nasdaq stockmarket.

The London-listed stock Tanfield Group (32.2% stakeholder in Smith) saw their stock price climb strongly last week (up 36% over 5 days), and responded on Friday by issuing a formal announcement which possibly indicates that the ipo is not far away now (depending on how one interprets the somewhat cryptic wording!).

The wording could alternatively indicate merely another private fundraising, similar to the one last March when, US investors privately pumped in $58m in 24 hours. But most forum discussion in the UK seems to interpret the announcement as referring to an imminent ipo.

Goldman Sachs are known to have been assessing market interest for several months.


Last edited by Breconeer; August 30th, 2011 at 05:25 AM. Reason: typo error corrected
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