Registered User
Joined: 10/7/2004
Posts: 15
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For indicators like TSV, MONEY STREAM, STOCH+, BOP,what are the shortest time frames inside a day that are feasible to trade with reasonable certainty of decent correlation of indicator to price movement ?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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We trainers cannot provide analysis or indicator advice. I will move this to the Stock Talk forum so other users may offer their thoughts.
- Craig
Here to Help!
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Registered User
Joined: 12/8/2004
Posts: 213
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Look at your setups using 5 minute bars.
I believe that the count will work conceptually the same way as it does on the daily charts.
EG. With TSV in the on line help it recommends setting the TSV to, if I recall correctly, 8 - 13 bars for short term swing trades. Set your TSV accordingly, and you will have to experiment with the exact number as well as whether you want to use exponential or simple.
Remember, the main idea is that the TSV and other indicators give you a good setup for a particular stock. Each stock behaves differently so you should follow a stock for a while experimenting with the indicators before actually making a trade. Also keep in mind that indicators are lagging and not leading and that the price is the ultimate determinator of the best way to play it. Also some indicators like stochastics are not very effective for trending stocks.
Bottom line is if use chose the right combination of indicatos and if you set them accordingly you should be able to find some good day trades.
Remember. Never trade in the first 30 minutes of the day or enter a position on a Friday afternoon to hold over the weekend.
Good luck
 
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Registered User
Joined: 3/25/2005
Posts: 864
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QUOTE (Sir Bollinger band width)
Remember. Never trade in the first 30 minutes of the day
Not True. Over 95% of my day trade entries are within the first
30 minutes of the day. The key is to not use market orders.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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TC Platinum is not a plataform for daytrading; I think I have mentioned about a thousand times. I will not explain again, but feel free to search and read some of my past posts on this subject. If you use TC platinum for daytrading you will be coming to a battle field of advance weapos with nothing more than a revolver, and I can guarantie you will get kill fast.
Good luck
Bigblock.
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Registered User
Joined: 9/12/2006
Posts: 1
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One should not ignore WHY, though they know WHAT is happening in market. Remember friends what we are playing is just a zero sum game; if wanna win, don't have any emotional attachment with it.
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Registered User
Joined: 12/8/2004
Posts: 213
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QUOTE (memorableproducts) QUOTE (Sir Bollinger band width)
Remember. Never trade in the first 30 minutes of the day
Not True. Over 95% of my day trade entries are within the first 30 minutes of the day. The key is to not use market orders.
I wish you the best of luck.
I am a traditionalist and all the books I have read about day trading say what I said. If you have a credible source that supports your view I would appreciate you posting it.
Thanks
Have a nice evening
 
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Ok guys, I have been day trading since, well... a long time. I can't agree or disagree with any of you.
Is it ok to trade the market opening? Well it is a double edge sword. It may be, and it may not. It all depends on the trader and his/her knowledge about trading. And that doesn't just include TA; it includes knowledge in placing and utilizing orders, ability to read and decipher level III and time of sales, experience with the elements, and enough capital to hold a position plus a balanced CHI.
How to handle an order during market opening? It depends.
With an average equity taking off like a rocket you will never get in at limit (you will have to place the limit quite high in relation to the current price - by the time you order is in it may be even above your already higher limit).
So I would go market - YES market (may be yes - check the spread), BUT with the fill or kill. That would be the only way to cut corners in my battle while accessing the risk/reward on the wanted position. But again it all would depend on the security. Say MSFT or SUWN ah! market would probably work find if you want in right now. Limit? could be, you may just wind up paying the ask if you want to get in now(considerable if you want a fix price and the ask satisfy your needs). Folks there is not fix way. It all depends and it depends on the ability of the daytrader to assess the situation and reacting properly.
I always say as well as people in the industry for much long that you get pay to take risk. Opening and closing are most volatile therefore representing greater risks as well as rewards. I always swing the opening and the close. 9:30 to 11 and 2:30 to 4 are the times I focus the most to make money. The rest of the day is a scalper game, which I also play quite often, but gets a little more boring. Scalps are also good plays aproaching the 11:30 and the 2:30 times. It is absolutely crazy and counter productive to watch the tick for the duration of the market hours. You will get burn if you do that. Play the opening and around the opening, and the closing and around the closing. The rest of the day take off to do some hobby, workout, or else.
By the way, Sir Bollinger I believe your theory would apply well to the average Joe, and newbies. For the rest the greatest potential is at the opening and the closing. It is said that the open is a bloody ground for newbies - which represents opportunity for the experienced. The closing is played by the experience, by the end of the day the newbies have been already instructed. The cost of tuition is high here. If you learn, and once you learn you can become a highlander in the blodiest battle field of any financial world. The question is will you have enough to cover your tuition, and will you be wise enough to make it worth.
good luck
Bigblock.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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By the way who grade this topic a 4 stars? Kidding right??
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Registered User
Joined: 10/7/2004
Posts: 2,126
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OH! downgraded to 3 stars - way to go.
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Registered User
Joined: 6/26/2006
Posts: 7
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Hello Everyone,
I am a beginner here, just read through the forum.
QUOTEOver 95% of my day trade entries are within the first
30 minutes of the day. The key is to not use market orders. - Just a simple question on this:
If not use the market orders then whats the best alternative?
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Registered User
Joined: 12/8/2004
Posts: 213
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Some other choices
Limit Buy
Stop Limit Buy
Away From The Market Buy Order
Alternative Buy Order
Buy Stop Order
Contingent Buy Order
Scale Buy Order
Discretionary Buy Order
There are probably a few others that I have missed. Which is best depends on the stock, how it is trading at the time and the general market conditions along with your broker's execution skills. Just make sure that you have a broker who executes the trades properly and efficiently or they could wind up executing your trading account. 
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Registered User
Joined: 11/1/2005
Posts: 240
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I'm useing a day chart to remember the trend, a 15 min chart I can switch to a 30 min, a 3 min that can be switched to a one min to time the entry when I feel its ready. a 7 and 21 (ema) time frame for each. MS and MACD. draw trend lines, move them as they need to be moved. tsv or any you listed will do the same.
adding a P&F chart will help to time the entry long or short. the indicators can give early signals (for my experiene), But if the trend lines are drawn, without a count for the objective its a good chance the move isn't ready to complete the effort. low vol can confirm this. some times the move can jump above the objective, then get back in line? too many jumping on board before the timeing is completed.
I'm wondering about the comment not to trade the first 30 mins, the vol is heavy, some one is trading it? maybe thats for new traders?
I hope every one is as confused as my post indicates I am.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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I could be wrong but I think the first half hour thing
comes from the old days.
When armatures and part-time investors would hear news
on their stock at night. If it was bad. It would cause them
to place a sell order.
So "weak: hands would be in the morning market.
There was even an indicator related to the first half
hour and the last half hour.
(the last half hour was the smart money)
Many day traders also use the early part of the day to set-up
the trading range. Which tends to keep them away.
It would seem with today's technology. The first half hour
could be just as profitable/risky as any other part of the day.
Thanks
diceman
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Registered User
Joined: 11/1/2005
Posts: 240
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wouldn't you think the news is put out by the professionals, if their interest is in buying long for any time frame, if a little bad news comes out, the morning price drops, they set there with buy orders. at tops good news may cause a gap up, this the same professional placeing short and sell orders. useing Enron and several before Enron as the example, the professionals were out on reports or news early on?
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Oh boy! I sure detect high levels of confusion around these grounds. Hope you guys get your mind clear out, or lots of headaches are to come. KISS
Good luck
Bigblock.
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Registered User
Joined: 11/1/2005
Posts: 240
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what are you confused about? this has been known for sometime, my course was first written in the 30s. its Professionals who make their livings at this, retailiers are attempting to catch a coat tail here and there?
before any one can seriously expect to trade for a few bucks, you have to study the basics? news is for a purpose, I don't think it has to be used to come out a little ahead, the charts can be used. look at Bush a couple of months ago he was down in the polls, he's comming up as we near nov election.
the government isn't the only group to understand how a rumor here and there can effect opinions? of people or stocks, gas prices? I believe its econ 101
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