The chart below says it all, NDAQ (the Nasdaq Stock Market) has a short term technical target of $51, because it broke out of a symmetrical triangle.
I will buy NDAQ at today's open for the Fast Portfolio, $5,000.
It's easy, take profits at $51 for a 29% profit or take a 5% loss if the stock prints $37.48.
White candle on NDAQ = Positive development. The plan stays the same:
1) Take profits at $51
2) Take a loss if the stock prints $37.48
I don't find short term trading all that fun anymore, as my eyes and head complaint all the time. I designed the Fast Portfolio to be strickly technical oriented.
On NDAQ we have a symmetrical triangle breakout, which gives me a technical target and a stop less. The plan remains:
1) Take profits at $51
2) Take a loss if the stock prints $37.48
Chart pattern within a pattern....
Good or bad: NDAQ plans stock offering.
Quote from: David Randolph on January 13, 2006, 08:49:51 AM
I don't find short term trading all that fun anymore, as my eyes and head complaint all the time.
Day Trading is a very hard game and that is why I want to try it and opened a short term trading account.
My target is 6% - 8% gain per month consistently.
I am in the process of developing a mechanic trading system and it will automatically generate buy-sell signals.
So, you don't have to stay on screens all the time. You can play, eat and the system will beep you to buy or sell.
It will be the most advanced trading system in the world. Right now, the basic building block has been constructed and another few months it may put into trial.
The system will:
1. scan the whole market every 10 seconds to identify sudden price/volume move and bring related news on the screen and take action;
2. automatically identify support/resistance level and its strength, identify reverse signals then take action;
3. use probability to find out the wining chance before taking position like the world pork game is doing now;
Made one trade NDAQ today: in $37.9 out $39.15.
Many times, sudden down provides a good chance to make money short term.
TTWO warned few days ago, it stock dropped at open then reversed to squeeze the shorts. SIRI DOWN TO $5.80 then goes up to $6.44 yesterday.
So identify sudden big down and take position at proper time is a good wining strategy for short term trade.
Bah! I got stopped out.
Should I get back in?
Shawfund , If you could write into your software That if there was news as a reason for a reason for a stock increase or decrease and be able to respond within a minute, let alone 10 seconds. your software would be invaluable. I can think of no way to do this, but if possible...
something to think about. Another idea, to set a trigger would be institounal buying or selling.
Is this possible?
QuoteQuote Shawfund: It will be the most advanced trading system in the world.
Wow that's a bold claim Shawfund, good luck with your development. Your trading results speak for themselves so I am sure you will be succesful in what you put your efforts into.
Personally I don't think black box trading solutions deliver really what people 'wish / 'hope' they will, and I find it hard to believe a day trading black box (which is basically a time critical application if ever there was one) can change that view.
I do a few day trades from time to time, but I find the effort to reward ratio non compelling for me.
Good luck with it though.
This kind of software already exists.
Big institutions use it as a tool for "program trading".
Bloomborg, the mayor of New York city, developed trading terminals which are used by most of WS trading firms to do day trading.
I, myself, used such tools before but found many problems.
What I am going to do is to add new advanced features:
1 use the latest price modeling technique;
Price modeling will consider all possibilities and establish the proper price for each possible case (for example, if the company missed one cent, what will be the proper price....)
2.use probability theory to win the game.
That is, at any time, the probability of winning a long or short for a particular stock will be calculated in real-time and displayed on screen.
If you watch TV pork games, you know that the percentage of winning a hand of pork for each player is always displayed on screen in real-time.
We will do the same thing. We will take a position only when the probability of winning a trade reached 85% or more.
Of couse, even with 99% of chance of winning, it is still possible to lose a trade, but the chance will be small.
That is the basic idea for the system.
Take yesterday's NDAQ as an example, when it opened gap down at $37.19, its probability of winning reached 99%.
When the price gradually reached to $39.20, the number has reduced to almost zero.
That is the beauty of the system.
We are constantly improving the accuracy of the system.
Quote from: AussieTrader on January 13, 2006, 09:08:31 AM
Chart pattern within a pattern....
Applause, Aussie.
Also within David's pattern is a "W"-Bottom breakout. Target: 42.55 is IN PLAY.
EDIT: Forgot to mention that on Friday, NDAQ had a Bullish Cross of the Tenkan-Sen (solid Green line) above the Kijun-Sen (solid Red line), and the stock closed above both of them. That's a positive.
I welcome the interesting discussion on trading systems, I had a lot to say about it, but unfortunately I don't have time now (I would recommend Tradestation Securities to trade stocks based on a mechanical system - good luck, it is a very interesting topic).
Well, unfortunately I was stopped out on NDAQ on Friday. I'll just put that trade on the portfolio.
I did not put a stop in on this, and I got killed after hours. Anybody have any thoughts about bailing at a market order at the bell, or holding tight for a rebound. I'm in at 39.20. I can't be at my computer until noon. Any thoughts would be appreciated.
Quote from: oicpecnoc on January 17, 2006, 08:04:14 PM
I did not put a stop in on this, and I got killed after hours. Anybody have any thoughts about bailing at a market order at the bell, or holding tight for a rebound. I'm in at 39.20. I can't be at my computer until noon. Any thoughts would be appreciated.
After hour means nothing if the trade volume is low.
I am pretty sure that the stock will open at much higher price than $37.20.
Even it did open a $37.2 tomorrow, it is not much down ($1.00 from today's close).
What do you mean "got killed". Nothing big.
Hey shaw, thanks for the response. I broke a rule of too much in one stock, hence the term "killed". Completelely a lack of discipline.
Quote from: Melf Elf on January 15, 2006, 05:34:26 AM[Also within David's pattern is a "W"-Bottom breakout. Target: 42.55 is IN PLAY.
EDIT: Forgot to mention that on Friday, NDAQ had a Bullish Cross of the Tenkan-Sen (solid Green line) above the Kijun-Sen (solid Red line), and the stock closed above both of them. That's a positive.
The
42.55 target MADE this morning.
On its way to the target, NDAQ also took out the January 9 high. That puts the November high of 45.23 IN PLAY.
I am still in NDAQ. Looks like a gap up open will see it above or near all time high of $45.23.
Whether it holds that position will depend on volume and market sentiment. Sometimes gap up opens are a great selling into strength opportunity, however as NDAQ is breaking all time highs after a few weeks resting from a huge run keep an eye on it.
Quote from: Melf Elf on January 26, 2006, 11:57:19 AM
[Also within On its way to the target, NDAQ also took out the January 9 high. That puts the November high of 45.23 IN PLAY.
NDAQ is trading at 45.40 in the pre-market, so anything near that, Target #2:
45.23 will be MADE at the open.
Just saw your post, Aussie. Nice job! Applause.
Quote from: AussieTrader on January 30, 2006, 09:11:42 AM
Whether it holds that position will depend on volume and market sentiment. Sometimes gap up opens are a great selling into strength opportunity, however as NDAQ is breaking all time highs after a few weeks resting from a huge run keep an eye on it.
I've still got Target #3 IN PLAY, the measured move off the Ascending Triangle breakout (see chart in my post above), but that's good advice. Take at least some profits when targets get MADE.
Quote from: Melf Elf on January 30, 2006, 09:27:05 AM
I've still got Target #3 IN PLAY, the measured move off the Ascending Triangle breakout (see chart in my post above
Target #3: 46.53 just MADE.
After hours quarterly report. Numbers were above estimates, but 2006 guidance was below. After hours sold of to the $43.50 level which is basically where it closed the previous day, so it gave back todays speculative pre earnings rise. They also filed a shelf registration to sell an undisclosed mix of securities, so this will add to the uncertainty and aid the current jittery reaction to results. Will see how Tuesday shapes up.
(RTTNews) - The NASDAQ Stock Market Inc. (NDAQ) announced its fourth quarter
financial results on Monday, reporting profit that more than doubled from last
year. In addition, the company reported guidance for the full year 2006 that
fell short of analysts estimates. Following the news, the company's shares fell
6.53% in the after hours.
The company's net income for the fourth quarter surged to $17.1 million or $0.15
per share from $7.4 million or $0.02 per share in the year-ago quarter. The
company' s prior year quarter results reflect continuing and discontinued
operations and include a net gain of $9.6 million from discontinued operations.
On average, 6 analysts polled by First Call/Thomson Financial estimated NASDAQ
to earn $0.13 per share for the quarter.
The electronic screen-based equity securities market reported net income from
continuing operations of $17.1 million or $0.l5 per share for the fourth quarter
compared to a net loss from continuing operations of $2.2 million or $0.10 per
share in the previous year quarter.
Quarterly revenues of NASDAQ rose 54% to $259.5 million from $168.1 million in
the prior year quarter. Revenue from market services increased to $200.2 million
from $116.2 million a year earlier, while issuer services revenue rose to $59.3
million from $51.9 million.
Analysts estimated the company to generate revenue of about $195.44 million for
the quarter.
The company said it has completed the acquisition of the INET ECN, designed to
provide it with a technologically superior trading platform.
Total expense of the fourth quarter includes a net pre-tax charge of $2.1
million related to NASDAQ's continuing efforts to reduce operating expenses and
improve the efficiency of its operations, as well as quarterly charges
associated with the acquisition and integration of the INET ECN.
For the full year, the company's net income climbed to $61.7 million from $11.4
million in the prior year. On a per share basis, NASDAQ reported net income of
$0.57 per share compared to a net loss of $0.02 per share in the last year.
The company reported net income from continuing operations of $61.7 million for
the full year compared to a net income of $1.8 million in the prior year. On a
per share basis, NASDAQ reported net income from continuing operations of $0.57
per share compared to a net loss of $0.14 per share in the last year.
Revenues for the full year increased to $879.9 million from $540.4 million in
the prior year.
Wall street analysts estimated the company to earn $0.56 per share on revenues
of $710.65 million for the full year.
Looking ahead, the company expects net income in the range of $57.0 million to
$69.0 million or $0.52 to $0.60 per share. The company's earnings forecast
includes the impact of charges associated with NASDAQ's cost reduction program
and INET integration.
Analysts have a consensus earnings estimate of $0.99 per share for the full year
2006.
Further, NASDAQ said it has received unanimous SEC approval to operate as a
national securities exchange, which allows it to take the final steps needed to
complete its separation from NASD.
DJ Nasdaq Files Automatic Mixed Shelf Registration >NDAQ
WASHINGTON (Dow Jones)--Nasdaq Stock Market Inc. (NDAQ) on Monday filed an automatic shelf registration with the Securities and Exchange Commission to sell an undisclosed amount of mixed securities.
Under the registration, Nasdaq may issue senior or subordinated debt securities, preferred stock, common stock and warrants.
Nasdaq said it would use proceeds from any issuance under the registration for general corporate purposes, which may include acquisitions, repayment of debt, capital expenditures and working capital.
A stock to follow for DAY TRADING...
My trading plan : chart in 15 minutes
Setups :
Waiting for 15 minutes after the opening.
If (((high - low) / open) * 100) of the first 15 minutes is less than 4.4% than play for a breakout of the first bar (in 15 minutes format) If breakout arrives before 17h00
have a good trade
:)
Good day !!! :)
Sell at 22.62
Target price (personnal technic) : i calculate the difference between the high of the first thirty minutes and the low of the first thirty minutes and the result is add to my entry point. Here : 23.06 - 22.54 = 0.52. So my target price is : 22.62 - 0.52 = 22.1. Target price is touched.
A good profit of 2.298% :D.
But it isn't always good as this one ! >:(. No system is safe at 100%...It is the most hard lesson to learn and integrate at his own trading.
So, my stop-loss is the low of the first 15 minutes or for a tight stop-loss is the open price...
PS : just a precision : you need a first 15 minutes candelstick with a big body (>= 50% of the range of the bar). Otherwise, wait for a break on the 30 minutes chart (it will avoid you a lot of false start)...
I will create a post looking for stocks with good luck to have a good day with this day trading approach..
Here is one of my previous trade on MSFT (21 november 2008) :
BUY at 18.64
target price at 19.30..Ok = 3.54% of profit