I find that completley dependant on volume. I prefer to watch stocks with a float that is under 100 million but if a stock has volume that can be impressivly half or more of the float it's worth "watching".
I agree with prasky about the volume, but 20-25M is a sweet spot. You want the ownership of the stock to completely flip during a heavy day of trading. The more times it flips, the higher it will go. By the way, the high float is a key indicator of a shitty management team. It usually means they’ve had quite a few public offerings to keep their doors open.
Agreed, float alone is not enough. It depends on volume, price action and the chart. Also % of shares owned by institutions can indicate whether the price action will be "inorganic" if that makes any sense...
Basically "lower float + high volume". All my scans are on TOS and I filter for less than 40M Shares Outstanding (float + unavailable shares to the public).
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I have similar goals in mind as you. If you'd like to talk some time about trade ideas, goals, strategy etc, I'd be interested. Hit me up anytime, @axhtrader is my twitter!
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From my understanding Bear market will be when selling outweighs the buyers for an extensive period of time (longer than a correction). Overall market will be in a down trend. I cant answer a lot of those specific questions as I'm still new to this but Tim Sykes and others always say 3 out of 4 stocks follow the market.
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Good points and read, thankyou for your thoughts. Don't forget to trade with KISS! Happy Thanksgiving and this opportunity we have to change our lives.
One of the better posts on here. Thank you for sharing your perspectives.
@axhtrader Glad you enjoyed it!
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If you're able to afford $208.95 per month, get Stocks to Trade. It's $179.95 monthly and now they charge $29 as an add on for Level II data, but it's worth it. You can also try it for a week for $1. As for answering your question about what you'd get executed at, I believe that would depend on how good the execution is with your specific broker. To my knowledge, there's no guarantee of any displayed price being locked in to your order other than maybe a limit order or stop loss, but someone e
lse can hopefully answer your question better than I did. Hope that helps some...
@SFKrystal The level II on STT carries data for OTC
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I am down to do group studying sessions on the weekends. I am not a "great" trader yet lol but I'd like to be a part of this. Unfortunately I don't live in California anymore, so If video call study sessions are something you're willing to do , again I'd be down!
I am down for Video Meetings too I used to live in Cali but have been gone for 20 some years but when this takes off for me I will buy some property there.... but would love to start a study group.
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None, just price action and volume.
I find the Macd useful ass you can see the vol quite easily and the momentum and the ichimoku cloud - but we are all different and you have to find what fits you best =D
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@Kody This is the thing. You should've done it! You know why? Your reward was much higher than your risk! But next time better bro!
@axhtrader Awesome good job!
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well for one thing, Tim Sykes tells people not to trade as much as they think they should. It is also worth mentioning that through Tim's strategies, he has already made several millionaires. Look at the stocks any day and you'll see that his dip buy strategy keeps working over and over again.
@alouis752 As I mentioned , so far I have kept my account green experimenting with long strategies that Tim S and Tim G teach in their DVDs. I've been consistent enough with the past 30 or so trades I've made, so I am so I am off to a good start I hope. But that doesn't mean I am going to throw out healthy skepticism about gurus, profit.ly etc. Its important to get a clear picture of how the industry works and seeing everything from all potential angles.
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aside from a hard stop or a limit order a good bit away from the actual.
Hmm I'll check into it. I don't subscribe to any of the data so maybe that's why? Thanks for the response
Ahhhh...yeah that might be it. I have the $10 plan I believe for the real time data...makes no sense why we need to pay for real time quotes at all...
Yeah no sense at all!
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Pretty much the same mistake here. Could've made money, but got out way to fast and took a loss. When I am playing a morning Spike, I only enter if: Open is above, at, or slightly below G/R or Premarket Support level and holding. I'll wait until creeps above the mentioned levels and/or VWAP holding and making slightly higher lows all within the first 4 min or so. Timing an exit though is much harder for me, but selling into the second run after the first pullback is not something I thought of be
*before...
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Thanks for the post Sabastian
Awesome post thanks for the insight!
Honestly, you summarized Tim G's Long strategy so well I am not even sure it's necessary to watch that chapter in the DVD anymore lol
I think it's worthy to note also, there's a difference between an immediate "spike" type breakout & a gradual uptrending towards the breakout level. I believe TimG mentioned that on straight up spikes, he'd wait for a dip & hold of that breakout level before entry. Today, CAPR and ITUS had great ABCD type setups that I paper traded today due to my funds not having been settled yet. No profits but lessons on patience & timing. Great post!
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@TerrapinShorts first, thanks alot for the comment and the support. second, you are right about trading scared my antention was that that stock was fit to my cretirias and when that happend i need to force myself to act, because at the end it's all a matter of probabilities and i rather go out with a small lose than to miss a great profit.
@Vaytzman Thanks for the motivational post . I too have had some timing issues due to hesitating to act on my plan. I have no problem in managing a losing trade and cutting it intelligently. But for perfect entries, it's taking me a while to learn that one. I found it helpful to develop or perfect entry guidelines specific to a particular strategy, that way you are confident in your plan if your trading rules aren't broken as the chart develops. At some point though, you will need to act.
@axhtrader couldn't agree more! thank you for your comment
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