Penny Stocks: Anatomy of a Trade (fka TOAST)

[Ruellit]

I also wrote QT for their explanation of the color scheme,

The colors themselves have no significance. They are grouped together by price on each side for easier readability, with yellow being the topmost level.

Mazel
2GK, Inc.
http://www.quotetracker.com

LOL now I'm really confused.

muel <ggg>

[Ruellit]

Recently I decided that I should confirm that the colors on L2 mean what I thought they did so I wrote Alphatrade and asked them what they meant, here's the response.

Dear Mr. Mueller,

The different colours are used to group together the different market makers by price. This is meant to make it easy to visually assess the strength, or depth, of the market on each side. Yellow would be the best inside bid or ask, with green, orange, blue and red representing the next best price. This is combined with the colour bands along the top to help you visually assess the market at a glance.

Please let us know if you have any further questions. Thanks!

AlphaTrade Support

Any input appreciated, now I'm confused!

muel <ggg>

[Wayne R]

That looks fine

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

[Vendit]

Here for now?

http://www.investorshub.com/boards/board.asp?board_id=648

Reid

[Wayne R]

No just posting them here for now;
http://www.investorshub.com/boards/board.asp?board_id=591

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

[Vendit]

Have you put up a Scans by Wayne thread here? If so, send me the link. I'll place it in this thread header as a resource.

Reid

[Wayne R]

Yes I know.

I have been making money on my "scan" stocks, stuff that is moving for no apparent reason. Usually I check what the company does, if anything, a few minutes after I buy them.......

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

[Vendit]

Use the other L-II choce which starts with an "A". It gives you the mm and more info. It also gives a braoder sampling of open orders. It should run without any sign up.

Ill show you how to edit the information output and size it once you confirm that it runs RT for you.

Reid

[Archangel]

Thanks for the Reid:0 eom

Arch

[sarals]

"Underwater"

it's kind of ugly, but the contrast is better, especially on the little chart.

Now I'm trying to see L2. I chose Island as the data source but I'm not getting a thing. Is that a service that you have to sign up for?

Sara

[Ruellit]

Thanks Reid thats exactly what I needed to know!

muel <ggg>

[Vendit]

Wayne you know that I never look at fundamentals, I just trade the signals. I mainly trade NASDAQ stocks which at least half of are POS companies with over blown prices but the key factor is many times present which is volume and volatility.

I have no idea what STGA's business model is.

Reid

[Vendit]

I conservative buy signal is seen at point of contact of the two stochastic lines under 20 on the scale set to 15-5-5.

A smart exit is then made by then changing the setting to
5-3-3 by just watching the direction of the fast black line, normally a move to flat intra-day points to the start of profit taking. I never hold if actual over 80 contact is made intra-day.

JMO

Reid

[Vendit]

A green price, quote/Bid,ask or last means the bid or ask ticked higher than the previous price. Red means it ticked lower.

A green or red box that briefly flashs around such price means an execution took place higher or lower than the previous execution.

This is one way to "see" momentum. The color scheme I mentioned earlier makes these colors pop out at you.

Green = higher

Red = lower

Reid

[Vendit]

It is reflected in money flow as that indicator points almost straight up. The other indicators say that momentum will be short lived as profit taking begins.

http://www.askresearch.com/cgi-bin/chart?symbol=STGA&country=USA&size=640x480&months=3+m...

Reid

[Archangel]

You fellas need an enema, or a good night sleep...lol

Arch

[Wayne R]

Yes they are, but to quote ChrisJP, some stocks are shittier than others........

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

[Ruellit]

LOL how ya doin Wayne, hell I though all stocks were crap!

muel <ggg>

[Wayne R]

Ugggg

Reid, whatcha doing looking at a POS like STGA?

Prolly go up, but in general it's a crap stock.



Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

[Ruellit]

Reid I know you have told me before, but what are your chart settings for buying, and then for selling?

muel <ggg>

[sarals]

>>Try this setting on Quote tracker.<<

I'll give it a try in the morning. I noticed that sometimes somethings in the grid are bordered with either red or green, can you tell me what that means? tia

Sara

[Archangel]

Yes, I see it. Very high volume today on STGA--->is this reflected in money flow. Appears to be.

Arch

[Vendit]

I changed the stochastic to very short term because the buy signal actually took place about 3 days ago. The new stoch setting shows the stock nearing the top of it's cycle, speaking purely technically.

http://www.askresearch.com/cgi-bin/chart?symbol=STGA&country=USA&size=640x480&months=3+m...

You know better than I that news can drive a small cap wild.

Reid

[Vendit]

Try this setting on Quote tracker.

Up top click on the word “View” / “Color Scheme” / “Underwater”

Tell me how you like this color combo when the market is open. I like the contrast a lot better. After watching this program run for a few days you will begin to gain a feel for momentum.



Reid

[Archangel]

Reid, with my magnifying glass, I can see that this little jewel gave a stochastic buy signal, and with the tight, tight bands, is poised for a breakout. What say you?

http://www.askresearch.com/cgi-bin/chart?symbol=stga&country=USA&size=640x480&months=3+m...



Arch

[Ruellit]

Reid today QuoteTracker was giving me erroneous quotes for OTCBB stocks. For instance, at one time it told me that ABRG had gone to $34.62 per share. I thought I was rich, lol, the next second it dropped back to 0.04 again, is this because there bullentin board stocks?

muel <ggg>

[sarals]

re: QuoteTracker

Actually the reason I wasn't getting any quotes on QuoteTracker was because my security package was interferring. When I turned it off, it works fine now. BTW, QuoteTracker Help via email is EXCELLENT! Not only did they respond very promptly, they helped me narrow down the problem fairly quickly.

Sara : )

[CAVA12]

Thanks that what I have been using. I have been very satisfied with QuoteTracker. I have been more selective on Web Update. I remember when I first started, evertime their was a update I would go ahead a update. Now I have learn to read before hand just what the newer verion changes.

Thanks again
cava

[Vendit]

Quote.com which is still available in my QT version but maybe not in upgraded versions. Yahoo is also good because they use a number of different news feeds and this gives you access to all of them with the one selection.

You should make sure that your QuoteTracker is checking for new news every 1 minute and filtering out duplicate news events.

Some of the feeds are realtime, some are delayed. (in my version)

Reid

[CAVA12]

Hi Vendit

What news source do you find best to used for Medved QuoteTracker?

Thanks cava

[sarals]

"If you need some help with it just let me know."

Thanks! I'll watch and see if Monday morning they don't show up.

Actually, I play pennies as a side line to my main portfolio, so I'm interested in all aspects of TA and Fundamental Analysis. In the past I have done best with Fundamentals and a little luck... buy and hold type strategy for the most part (for instance, my best performer last 12 mos was LEH). I think my biggest weakness is being too diversified. But TA is very intriging to me and I'd like to find a style that works for me. The more I learn, the better I feel my odds are at success... so I really appreciate boards like this one packed full of good info.

...off to softball!

Sara : )

[Vendit]

The reason that your Quote tracker is not showing any quotes is because the market was probably closed after you set it up so it has no quote history to draw from. It shows pre market trades so you will begin seeing live quotes at about 7:30 AM on Monday for NASDAQ stocks.

If you need some help with it just let me know. Ive have been using it for about 3 years and know all of its functions and set ups.



Reid

[Vendit]

Hi Sara

It has been a long time since I spent much time finding penny plays but do know how to trade them. Muel and Arch are much better at this than I am. I'm primarily a pure technical trader.

I hope you enjoy your visits here.




Reid

[Ruellit]

You already have it, you just need to learn how to use it lol.
How are ya today Sara?

muel <ggg>

[sarals]

Dial up is probably why I'm having a problem. thanks.

Sara : )

[sarals]

seeing accumulation...

"Most of the trades yesterday were either white or green, IMHO the stock is being accumilated and mostly by market makers at least yesterday."

Ahhh... now I know why I couldn't see it... you have to be able to see the buys and sells and trades. Thanks for the explanation... I think I need to get level II.

Sara

[Ruellit]

Dial up?? I have a DSL link to the internet, not sure what you're asking.

muel <ggg>

[Ruellit]

FWIW, here's my take on accumilation. When a stock is being accumilated, it's being bought and this usually drives the share price upward, but doesn't have to. Another closely related term is 'consolidated' and means that the stock is at or near a support/resistance level concerning Technical analysis in relation to charting. The most recent example I can think of for accumilation is ABRG on Friday, or yesterday. My level 2 screen showed me that of all the trades going through, very few of them were red in color. Red meaning sells, white meaning trade, and green meaning buys. Most of the trades yesterday were either white or green, IMHO the stock is being accumilated and mostly by market makers at least yesterday. This is IMO a very good sign for a stock, it's telling me that the stock is about to run again, maybe a week or two, but it will run again because of the MM accumilation!
All constructive opinions and criticism are welcome and wanted, if I'm wrong on any of these points I want to know about it.

muel <ggg>

[sarals]

Muel,

I tried logging into my Ameritrade account and still didn't get any quotes. Are you on dial up? I'll figure it out eventually.

Sara

[Ruellit]

Sara the setup for trading is different from what I meant. What I think is happening is you're not connecting to a source for RT streamers and it being weekend shouldn't matter.
What I had to do last night was to login to my Ameritrade account just I do to trade, once that was done through QT the portfolio updated with Fridays closing prices. Of course that was last night, or Friday and I don't know it that would be different today. Let me know when you come on line.

ProfitOften
See ya,
muel <g>

[sarals]

re: Accumulation

I've seen alot where people talk about "seeing" accumulation and I've never been quite sure what that means. Could someone explain how you spot it? tia

Sara

[sarals]

Muel,

Are you talking about where it asks you to set up trading accounts? I haven't set up one of those since I don't have an account with the two options. But I have chosen a "site" near the top of the page and hit menu and setup up my password under DataSources/Proxy and then Quotes.

Do I have to use Datek to get it to work?

Sara

[Ruellit]

More on Quote Tracker - from the RB board.

Now heres how to do it for free:
Go to www.Medved.net (not .com) and download the quotetracker for free. If you've never used it, you'll learn more with it about price trends and patterns than anything i've found. After downloading, you go to Datek.com (if your not a Datek customer already) there you can register for free streaming quotes. After that opens up Medved and select Datek from list of Qoute suppiers and your on your way. These live and afterhour qoutes are fed to you thru Island.Explore. It does a million things and delievers news instantly from everywhere. Whats the catch? simply click on one of the banner ads every now and again. And you can hit stop downloading before it even finishes and go right back to the quotetracker. Or you can pay the $60.00 and do away with the advertising.


ProfitOften
See ya,
muel <g>

[Ruellit]

I found the level 2 in the charts column, lol

ProfitOften
See ya,
muel <g>

[Ruellit]

Help!!!
One of the things I can't figure out on Quote Tracker is how to engage Level 2, anybody????

ProfitOften
See ya,
muel <g>

[Ruellit]

Sara theres a bar in the middle of your screen close to the top, it asks you for your password. Have you filled that out or am I way off base?

ProfitOften
See ya,
muel <g>

[sarals]

re: QuoteTracker

Downloaded it, got it installed. Managed to setup a portfolio and indices. I used Ameritrade as my quote source but I don't see any prices coming through. I also tried ETrade, which I also have an account with, but it didn't work either. So... I must not be doing something to get the quotes to come through... any ideas?

Sara

[sarals]

Thanks for all the great information on this board. Muel pointed me here and I've been reading on and off since mid day... my head is spinning from all the info here.

Sara

[2desire]

Thank you Reid, I'd like that. Will try downloading it in the morning. Will you be online tomorrow if I have any questions? TIA.
2desire

[Vendit]

QuoteTracker is a FREE Windows program that provides streaming real-Time quotes, Live intraday charts with Technical Indicators, alerts, news monitoring, ECN Level II quotes, Research, and historical charts. The latest version adds Candlestick and OHLC Intraday chart options, multiple bottom indicators, Trend Lines, DATEK Streamer, Money.net and BullSession support, News filtering, Email Alerts, Email Charts, System Security as well as other enhancements.

http://www.quotetracker.com

Once you have it downloaded you then have to set it up. It’s a cool tool at no charge. Ill show you how if you would like.



Reid