I just wanted to take a minute here to introduce myself. I've never really followed message boards before but my partners Brandon Fredrickson, David Bush, and Eric Patterson tell me it can be a lot of fun as well as addicting. (I'm not sure if the last part is good or not since time seems to be a limited enough commodity as it is but I'm willing to give it a go!) I've started this board in an effort to create a medium where fellow traders and investors can help each other grow in their profession. I look forward to hearing from you!
All my best,
OBJECTIVE OF THIS THREAD:
The primary objective of this thread will be to provide a forum for short term traders to discuss specific, profitable trading techniques, setups and strategies using technical analysis. These strategies can be used by the active, self directed trader to pull consistent profits from the market. It is our hope that traders will be able to use this forum to learn from the experiences (often gained from expensive mistakes) of other traders here.
Please note that this thread is not intended to promote individual stocks, but rather to discuss specific methods traders can use to be profitable in any market. Individual stocks will only be discussed in the context of educating Ihub member (i.e., giving an example of a setup).
TOOLS OF THE TRADE:
BROKERS WE USE:
STOCK TRADING (Toni and Brandon): Maverick Trading http://www.mavericktrading.com
Maverick is a direct access broker which uses the platform Real Tick 3 which is a platform I like particularly for its clear charting abilities and reasonable commissions, something that is highly important to me since I rely heavily on charts in my tech analysis.
FUTURES TRADING (Brandon): Interactive Brokers (aka IB) http://interactivebrokers.com
TYPE OF TRADING:
Based on technical analysis strongly relying on candlestick charting.
Daytrades: 15 minute - all day holds; average 1-3 hours
Swingtrades: 1-5 day holds; average 3 days
Position trading: 1 week - 6 month holds; average 2-3 weeks
CHARTS TONI USES:
For swingtrades (meaning those I'm looking to hold based primarily on a daily setup) I check out the monthly, weekly, daily, 60 minute, 30 minute and 15 minute for those stocks which particularly interest me before taking a position.
For daytrades I look at the 5 minute chart as well as all those mentioned above except the monthly.
MOVING AVERAGES TONI USES:
5, 10, 20, 50, 100, 200 simple moving averages
MONTHLY CHART: 5, 10, and 20 sma
WEEKLY CHART: 10, 20, 50, 100, and 200 sma
DAILY CHART: 10, 20, 50, 100, and 200 sma
INTRADAY CHARTS: 20 and 200 sma
COMMODITY CHANNEL INDEX SETTING: P=15 (Only used on the daily chart.)
Currently I have an outdated computer (yep, bought it just over a year ago lol) so I'm hoping up update it here in the near future and will post that info as soon as I can. A good video card is a must though and I have had great luck with Appian cards. I have 4 21 inch monitors on my main computer in addition to a 17 inch laptop.
Hope this information helps you guys out!!!! Feel free to post your own information as well!