sbuck143
88 posts
msg #89166
- Ignore sbuck143 |
3/5/2010 3:33:02 PM
okay I see that now it's been a 50c target all the way but I'm getting the feeling this is a "big fish game"?
stocks for me are a roundtrip $10 up to 1000 shares, so on a $200 stock like AAPL, scalping 50c a share, it's a minimum of $8000 to make $10 after commissions, and closer to $20k to get commissions down to a semi reasonable % of your profit.
I'm a long long way from throwing 20k at a position, but is it the tight stop that keeps you out of trouble?
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sbuck143
88 posts
msg #89168
- Ignore sbuck143
modified |
3/5/2010 3:47:58 PM
n/m
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cwn6161
40 posts
msg #89171
- Ignore cwn6161
modified |
3/5/2010 3:53:22 PM
Find a new broker, or find a prop trading firm. 5k to start with, and 10-1 leverage makes things a lot easier. If you are starting a new method, you want the ability to trade with small shares and not get killed by comission. For me, comission is about $1 every 100 shares, roundtrip.
The zones are exactly what keep you out of trouble, because you know exactly how much you can lose max. I trade 200 shares, so I know that I'm risking 30-40 dollars a trade.
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cwn6161
40 posts
msg #89172
- Ignore cwn6161 |
3/5/2010 3:54:45 PM
If the stock doesn't move to fade the gap, skip trading it. There is more than one cow in the barn to milk from :)
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sbuck143
88 posts
msg #89173
- Ignore sbuck143
modified |
3/5/2010 4:00:51 PM
Thanks for the replies cwn.
I am an options trader much more than a stock trader, so I am looking for ways to use options to reliably MTC.
It would have to have a relatively high delta with relatively low bid/ask spread. I'll see what I can dig up on AAPL's historical option data.
As for the cows to milk......how does one find all these different cows, and quickly enough in the first 10 minutes of the day.
Stockfetchers filters are great but delayed by 15 minutes intraday.
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TheRumpledOne
6,411 posts
msg #89175
- Ignore TheRumpledOne |
3/5/2010 4:09:12 PM
The herd doesn't change much.
You can run the filter on the weekend and trade those all week long.
I only need to milk RIMM or AAPL. Those cows still giving plenty of milk.
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cwn6161
40 posts
msg #89176
- Ignore cwn6161 |
3/5/2010 4:11:04 PM
Use the filter that TRO posted at the beginning. That will grab the stocks that have statistically followed the MTC method the past 100 days. These are the stocks you use. Before the open put 1 or 2 in your watchlist, and look at the premarket to see if they are gapped up or down. That way, you at least know which direction you'll be going first.
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stratiG
147 posts
msg #89179
- Ignore stratiG |
3/5/2010 5:18:33 PM
cwn6161
- Ignore cwn6161 3/5/2010 1:50:57 PM
stratiG
Where are you setting your scalp takes at?
I'm currently shooting for 40 cents to take profits - but I just read how you set a scalping point and then move your stop up to breakeven. That's a good idea, especially after I see myself getting stopped out twice this morning on FCX, where I could have made cash if I scalped.
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I scalp .30 - .35 cents. I found through trial and error this to work the best for ME. Good luck in your trading.
GS
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sbuck143
88 posts
msg #89185
- Ignore sbuck143 |
3/5/2010 6:25:55 PM
Pardon me while i wade through the FTG thread (just finished) and re-tackling this thread from start to finish -
1) Does the Buy Zone once set up apply all day or can it only be used for the initial moves in the morning before you go to uncharted waters?
IOW, does the theory/stats support re-entering a long position every time you enter the long zone (entered from below of course). Ditto for short.
2) Dang......it just left me. My eyes are watery from all this reading :)
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chetron
2,817 posts
msg #89186
- Ignore chetron |
3/5/2010 6:31:51 PM
you think they are watering now, just wait till you put some real money down. = )
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