Morning Traders... for those just now starting to trade, or still thinking about it.
Again, this are hints into how I trade, and the simplicity there in. If you haven't noticed by now the # 1 tool is your activity bar.
One of the simplest tools in regards to an 'activity bar', one I use off to the side as a back up source is the Ameritrade Activity Bar.
When you open the Command Center you can use their LAYOUT or design one for yourself. Doesn't matter at first.
What matters is how to use the Activity Bar.
What I have open on the layout I've simplified is called SuperC with 6 screens listed below.
1 Activity Bar <OCT_BB Shares_Traded Per_Minute>
3 Level II Screens
2 Last_Sale Screens
The Activity Bar give's you % of Execution & Number of Shares Traded. You also have the ability to set it for "trades", which shows the number of trades per-minute. But shares-traded is key on this particular set up.
When watching the per-minute activity bar stay away from the stocks showing above 500k shares traded per-trade. Those are the ones with an extreme A/S and usually way to many MM's lined up on both sides. Those are the .0001's to .0009's for the most part.
What I call lotto_plays do not belong on this board, there are many others playing this type of niche.
When you watch the activities bar try and write down each ticker you see where shares per-minute are less than 500k. There's a reason for this.
Another exercise and very important: Click on one of your L2 Screens while watching the Activities Bar and type each ticker symbol in keeping pace as the come and go. If you can't do this at a quick pace? You will never get to know this system, a quick pace is key. I say this because within a matter of day's you'll not be typing in as fast, knowing what NOT to play, thus paying attention to what you MIGHT play.
Wed's example's: If I didn't know the difference in what is being played on a regular bases, I would have never found MXMI or LHPT. I posted a 1st IHUB before anyone else did to include any news. Remember, if you see a trade from a symbol rarely showing up, then news hits after you've made the discovery, that means someone may have traded before news was official. It really doesn't matter, what matters is discovering 1_movers before anyone else. The only way you can do that is by knowing what NOT to play in order to know WHAT to play. That's why it's KEY again to type in every single ticker until your fingers are numb!
Each time you impute a symbol look at how many MM's are lined up, you'll quickly realize that more than a few MM's on each side are to many.
You are trying <in part> to get to know what plays on a daily bases over and over again during a week. It will be obvious quickly the ones that trade 1 million and above at a time.
The idea is obviously to find something that has YET to run, one with a large 7 to 10x 10dayavg_vol <see my profile page for recent examples> then after you initially spot it?
Remember, 80% or more of what you find out there are Day Trade's. This ain't old school like back in the early 90's when Day Trading on a large percentage base's for the average person across the US was still in it's infancy.
DD is a Must!!!
I want to talk about how to use your LII & Last_Sale next time whenever that is...
On Pro Day Traders Forum we are looking for 10 Day Average Volumes <a huge disparity> yet to move. Picks not played over and over again. Picks that do not show a down side on the PPS when spotted unless you have some really good info.
***** One key feature I like to see on this board is not a lot of chatter. That way when others come by and few this site, they see more material they can use per post. We are not about play time, chitchat, we are about making informed decisions, which hopefully puts money in our pockets!
Drive By Posters will be Shot On Site! ___LOL
If you would not be willing to buy it, please don't post it!!
Trade Well ~ Trade Often