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I checked out Strategy Scanner. It is a pretty nice tool. I will need to think about what I want to track because there are 10s of options to choose from if not over 100.
I will check out the tutorial on it. Thanks.
You need to use Strategy Scanner. It is located in Etrade Pro. Open up Pro and under Tools chose Strat Scanner. Once you open it you will see predefined tools such as: 52 Week Highs on Relative Vol, 52 Week Lows, Bearish Trades, Stocks on the Move, etc to name a very few. Or you can define your own criteria (this is what I do). Go to the Strategy pull down menu and choice Create New Strategy - all you have to do is name it and pick whatever criteria you want - you can make it very simple or very intense. Once you save it, that scanner will be there for you to use everyday.
Choosing which criteria depends solely on what type of trades you do. My criteria is based on stocks that are down a certain percentage. Another person would never do that and would only buy stocks in an uptrend. Every trader has their own system. You need to find what you like and what works for you.
My goal: To get at least 5% a day out of the market going short or long.
How can I best structure investment research to zero in on stocks that have a significant probability of achieving that goal?
Are there certain reports I should keep an eye out for? Certain tools I should set up (i.e. volume scanners, etc through eTrade)?
My researching is still very broad and I need to learn how to zero it in as I have very aggressive goals and need to tailor my research to help me reach those goals or at least start heading in that direction.
Thanks.
Very broad question. You may want to look into dividends paying stocks, or you may want to read about technical analysis. There are so many areas you could explore. You could go to a site like investopida or this:
http://www.investor.gov/investing-basics
and read whatever you are interested in gaining knowledge of. You'll probably learn some things I don't even know about if you have the time to peruse the site fully.
cixtrix, so I would like to increase my knowledge about the stock market. This far I have learned about value investing and exit strategies. What do you recommend I learn next?
cintrix, although I'm not the greedy type, I am a new investor and want to be sure I lock in gains when I can. Thanks again for helping me understand.
I never use stop orders because I am doing this everyday and in front of everything. When I go away on vacation I have used them in the past and used dollar, but trailing is a good tool and I recommend it for you to use.
cintix, I'll be sure to ask. Which is your preference, trailing stop order on a % bases or $ bases?
You would have to ask your broker if your when your trailing stop order triggers, does it turn into a market order? If it does, then I would think it is guaranteed.
cintix, I'm sorry. That's the term I was meaning to use. If anyone does so, are they guaranteed that this order method will sell their stock?
Your stop loss will not adjust unless you use a TRAILING stop loss. If you chose that it will adjust with the price of the stock direction.
cintrix, after doing research, I want to be sure I correctly understand the stop loss method.
For example, (XYZ) is up 30% or $9 since I have bought this stock. The price of this stock is at $30 per share. Despite (XYZ) still showing a strong positive trend, I want to lock in any current gains. Though I would still like to "milk the cow" so to speak. In this case I choose the stop loss method.
I choose a stop loss based on %. I choose to make the stop loss 3% at $30. If (XYZ) dips below 3% or $28.20 the stock will be sold.
(XYZ) trends upward: The stock raises 6% since placing the order to $31.80. At this point, the stock will be sold at $30.90 if it moves under this point. Essentially, the 3% buffer if you will has rose and will lock in a 3% gain for a total of 33% gain.
This time I choose a stop loss based on $. I choose to make the stop loss $1. If (XYZ) dips below $1, the stock will be sold at $29.
(XYZ) trends upward: The stock raises $1 since placing the order to $31. At this point, the stock will be sold at $30 if it moves under this point. Essentially, the $1 buffer if you will has rose and will lock in a $1 gain for a total of $10 gain.
Do I understand correctly?
Thanks, Gulley
Please read the stickies before posting on this board.
If you are new to trading that is probably the best thing that can happen to you. Nothing worse than making money on your first couple of trades and getting a false sense of being invincible. Also your handle tells a lot. Don't go for the home runs - take the base hits here and there.
I'm at my wits end with the stock market...every stock I touch ends up going down...only stock I made a couple hundred dollars on was a call on yahoo. Everything else just tanks. Red everyday.
Don't know what to do.
Can't stand sitting in an office for 50 hours a week anymore...
Seriously? Get used to it and don't be quitting your job. This is coming from someone who has been online trading for 17 years now. It is like the restaurant business - way more failures than success stories. The only way I would recommend trying it as a full time job is if you have an significant other who can support you and supply you with health benefits. That is how I lasted all these years through the ups and downs.
What's a good starter software/book/videos for trading stocks or Penny stocks? Can't stand sitting in an office for 50 hours a week anymore...
cintrix,
In applying this matching percentage, only salary deferrals up to a certain percentage of your compensation, as determined by us, will be considered.
Well there you go. There is a percentage they aren't stating that you may get matching for. Once you go over that amount you won't be getting anything matching what you put in.
cixtrix,
Is that example yours or did your employee give that in the brochure? If they did maybe you have dollar for dollar matching and the limit is 18,500. Most employees offer the 50% plan which is .50 for each dollar you put in up to a certain percentage of your salary - usually around 5-6%.
cixtrix,
The max is more then what I make in a year!
That's got to be impossible. You are telling me that there is no limit to what the company match is? Usually they only match a small percentage of your salary.
cintrix,
Plus my employer matches what I put in to the fund.
That is an excellent deal and I would put in the maximum amount that they will match.
cixtrix, sorry I have been very busy with school. A few weeks ago I received a booklet full of information including rules, regulations, investment advice and the investments that are available for me. Last night I read the booklet from front to back and did some reading about saving for retirement. I was foolish to believe that I am too young to start saving for retirement. In fact I am grateful to be given this opportunity from my employer.
I want to be able to live comfortable and have financial freedom when I retire. Even more so, because I believe my generation will not have social security that I will have paid into all of my life. So I am excited to start saving for retirement. Plus my employer matches what I put in to the fund. Which is even more of a reason to take advantage of this offer.
eTrade Pro Strategy Scanner is kick ass. It also gives you the option to come up with your own scan criteria. They give a ton of options that can be overwhelming but if one works backwords from the angle of the data they want to see, they can filter out many of the other options to get to what they need.
I think the best one out there is Stragegy Scanner that is part of Etrade Pro - it is free if you make at least 30 trades per quarter. You can customize the strategy scanner to your own liking. Take a look:
https://us.etrade.com/e/t/invest/apptemplate?gxml=strategy_scanner_tutorial.html&skinname=none&righttrail=disable
Yahoo Finance, StockCharts, Google Finance, OTCMarkets.com.
What's everyone's favorite free scanning tools to screen stocks?
I have Scottrade & TradeKing, Scottrade I like for my penny plays they don't charge me hidden fees and no "no activity fees" tradeking kind of sucks imo for micro cap stocks, but if u play options its not too bad :) according to sigfig I'm classified 100%
When I get 50$ extra I might switch out of tradeking @ open an etrade account I hear they are good like Scottrade in terms of no fees for otc'$
eTrade. I live their eTradw Pro Elite platform. Great tools for trading.
It is probably some spin-off shares from another equity.
I have a Trade King account and just had something show up in my portfolio unexpectedly. 3.9 shares of ISPBZ....WTF is that? Any info would be appreciated.
PT
If you like what you have, stick with it. I have broker-surfed many times and it isn't worth the effort. The smaller brokerages may look inviting with their small fees, but there are downsides to them too.
Mainly NYSE/Nasdaq and minimal OTC.
I have a TDA and Etrade account that I like. sigfig.com was showing the option for optionshouse.com with lower fees.
What type of stocks are you looking to trade?
I did OptionsHouse for NYSE/Nasdaq/AMEX trading. When I switched to penny stock trading there was $.005 per share fee so I had to find a new brokerage house. I use Charles Schwab currently and here good things about E-Trade fir penny stock trading.
What is everyone's favorite online broker/trading platform?
Does anyone have any opinions on OptionsHouse.com?
I found a fundamental site that I think will help you find companies according to your criteria. You pick a specific fundamental you are looking at, like pe, and then click on that. It will bring up on the right the industries. You just click on an industry you like and it will bring up the company's numbers - this will save you a lot of time crunching numbers:
http://www.macroaxis.com/invest/marketScreener/sector/pitchletHome
Greatly appreciated input amigo.
I wanted to add that not all orders appear on L2. Not all MMs display or have to. I learned that from my Charles Schwab customer support. Not the basic L2 guides.
That's an acceptable answer thanks :)
it is real time so i have no idea how you can study it after hours - it could change on active stocks by the minute - i don't know of a service that would allow you access to each and every tick and mm position that went on during the day
I realize that, I get some time during the day, some days anyhow, but I figured it may give me access to what happened throughout the day as well, so I could study the during the evening.
the purpose of level ii is to see what is happening in real time - i suggest you google level ii tutorials and study it that way before you purchase - here is ihubs tuturial:
http://learn.advfn.com/index.php?title=Level_II
Question: can you review L2 at the end of the day? I don't have time to study the phone all day, so before I buy I need to know.
You would have to contact the trading firms and have a degree in finance and a series 7 license.
Question: I don't suppose there is a specific "market maker" job if I look in the classified, so who would be one of these people?
IMO, pumping and bashing on stock forums is an integral part of stock trading
Most especially in the case of penny stocks.
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