Comments on: ININ, An Anatomy of a Friday Morning Daytrade http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/ Trading, Stocks, Stock Market, Money Mangement & Risk Management Fri, 21 Nov 2008 00:04:49 +0000 http://wordpress.org/?v=2.6.3 By: Michelle http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4257 Michelle Thu, 12 Oct 2006 17:36:34 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4257 Yaser, There are many online brokers that fit the bill for the needs of a daytrader, the platform is usually referred to as an advanced trading platform (atp). You want the following at a minimum: streaming intra 1,3,5,15,30, and hourly charts, ECN access, clickable ordering and order entry defaults (to execute as quickly as possible), realtime account balance and realtime portfolio, advanced ordering features like trailing stop and bracketted order (stop loss and target order goes in at the same time), high/low ticker, and premarket top gainers and losers scan, TOS (Time of Sales), Level II quotes. Less important (to me that is), sound alerts, ability to annotate charts with trendlines, etc, and notes, and streaming news. I actually prefer to use clear plastic rulers across my screen to note trendlines! Brokers can have different requirements for margin, minimum account balance, etc. All brokers have technical problems from time to time. Yaser, There are many online brokers that fit the bill for the needs of a daytrader, the platform is usually referred to as an advanced trading platform (atp).

You want the following at a minimum: streaming intra 1,3,5,15,30, and hourly charts, ECN access, clickable ordering and order entry defaults (to execute as quickly as possible), realtime account balance and realtime portfolio, advanced ordering features like trailing stop and bracketted order (stop loss and target order goes in at the same time), high/low ticker, and premarket top gainers and losers scan, TOS (Time of Sales), Level II quotes.

Less important (to me that is), sound alerts, ability to annotate charts with trendlines, etc, and notes, and streaming news. I actually prefer to use clear plastic rulers across my screen to note trendlines!

Brokers can have different requirements for margin, minimum account balance, etc. All brokers have technical problems from time to time.

]]> By: Yaser http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4179 Yaser Tue, 10 Oct 2006 02:22:13 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4179 If I may ask, who is your broker Michelle? Thanks. If I may ask, who is your broker Michelle?

Thanks.

]]> By: Michelle http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4174 Michelle Mon, 09 Oct 2006 22:03:14 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4174 Yasser, 10-12 candidates are alot, but it is not often that I get such a large watchlist. As I mentioned in my article, sometimes nothing pops up or just a small number. And if I did have a larger number of candidates, most of them would be on my 30 minute chart pages. ININ was the only candidate I was watching on Friday on the one minute because it was my top candidate based on my premarket research. It is very important to have only the amount of candidates that you can handle, so you can focus easily enabling you to execute the perceived opportunity and manage the trade. ININ was a gapper up and that information could be found in a few places, like briefing.com. I stopped using esignal because it was redundant, as the advanced trading platform provided by my broker is sufficient for my needs. Yasser, 10-12 candidates are alot, but it is not often that I get such a large watchlist. As I mentioned in my article, sometimes nothing pops up or just a small number. And if I did have a larger number of candidates, most of them would be on my 30 minute chart pages. ININ was the only candidate I was watching on Friday on the one minute because it was my top candidate based on my premarket research.

It is very important to have only the amount of candidates that you can handle, so you can focus easily enabling you to execute the perceived opportunity and manage the trade.

ININ was a gapper up and that information could be found in a few places, like briefing.com. I stopped using esignal because it was redundant, as the advanced trading platform provided by my broker is sufficient for my needs.

]]> By: Yaser http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4171 Yaser Mon, 09 Oct 2006 21:16:54 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4171 Forgot to ask, on Friday, I'm guessing ININ was moving pre-market where it caught your eye right? And your scanning software is eSignal? (Just confirming) thanks! Forgot to ask, on Friday, I’m guessing ININ was moving pre-market where it caught your eye right? And your scanning software is eSignal? (Just confirming)

thanks!

]]> By: Yaser http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4170 Yaser Mon, 09 Oct 2006 21:13:43 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4170 Interesting stuff Michelle. Though don't you think monitoring 10-12 trades in short time frames can get very hectic, causing one to loose focus? Especially the 1-5 minute time frames can lead to fake moves. Look forward to hearing from you. Yaser Interesting stuff Michelle.

Though don’t you think monitoring 10-12 trades in short time frames can get very hectic, causing one to loose focus? Especially the 1-5 minute time frames can lead to fake moves.

Look forward to hearing from you.

Yaser

]]> By: Peter http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4147 Peter Sun, 08 Oct 2006 18:16:48 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4147 Michelle, great show...very good example of the "performance" of a real discretionary trader and why discretionary trading is and will ever be the real thing...it mostly only takes 1 trade a day to be hole Michelle,

great show…very good example of the “performance” of a real discretionary trader and why discretionary trading is and will ever be the real thing…it mostly only takes 1 trade a day to be hole

]]> By: Michael http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4145 Michael Sun, 08 Oct 2006 18:10:57 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4145 Michelle said: <blockquote>Compare the spirit of the present trading community connected by several great blogs, to the malicious mayhem present on many Yahoo message boards.</blockquote> Not to mention the trading specific forums around the web! Michelle said:

Compare the spirit of the present trading community connected by several great blogs, to the malicious mayhem present on many Yahoo message boards.

Not to mention the trading specific forums around the web!

]]> By: Michelle http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4141 Michelle Sun, 08 Oct 2006 08:24:19 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4141 Sam, you are very welcome. Sam, you are very welcome.

]]> By: Michelle http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4140 Michelle Sun, 08 Oct 2006 08:18:25 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4140 BBC, It is great to be able to reach readers who do want the details about realtime, active trading. The blogosphere, with its ability to monitor spam and useless comments is like a hothouse, it can protect seedlings in their vulnerable early growth, and encourage significant growth by providing shelter and warmth. Compare the spirit of the present trading community connected by several great blogs, to the malicious mayhem present on many Yahoo message boards. BBC, It is great to be able to reach readers who do want the details about realtime, active trading. The blogosphere, with its ability to monitor spam and useless comments is like a hothouse, it can protect seedlings in their vulnerable early growth, and encourage significant growth by providing shelter and warmth. Compare the spirit of the present trading community connected by several great blogs, to the malicious mayhem present on many Yahoo message boards.

]]> By: Sam http://tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4129 Sam Sun, 08 Oct 2006 00:46:28 +0000 http://www.tradermike.net/2006/10/inin_an_anatomy_of_a_friday_morning_daytrade/#comment-4129 Thank you Michelle. Very nice of you to share this educative trade! Thank you Michelle. Very nice of you to share this educative trade!

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