thalestrader

"For perfect concentration as a protection from stock tips, gossip and other influences which are rampant in a broker's office, [the trader] should, if possible, seclude himself. A small room with a ticker, a desk, and a private telephone connection with his broker's office are all facilities required. The work requires such delicate balance of the faculties that the slightest influence either way may throw the result against the trader. You may say: "Nothing influences me," but unconsciously it does affect your judgement to know another man is bearish at a point where you think stocks should be bought. The mere thought, "He may be right," has a deterrent influence upon you and clouds your own judgements; you hesitate and the opportunity is lost. No matter how the market goes from that point, you have missed a beat and your mental machinery is thrown out of gear." - Richard D Wyckoff, Studies in Tape Reading Just thought it would be of interest to offer a counterpoint to your opinion regarding trading alone or in the company of other traders. I wish you a wonderful weekend and much success this coming week! Best Wishes, Thales

Hi MCM, Just to make sure that I haven't misled anyone, the screening that I shared is what I use for day trades only. All of my day trades are closed by the end of the regular trading session. Also, and again just to clarify what I had described in my earlier posts, typically I am a buyer of stocks that are "skyrocketing up." I usually only short stocks that are already moving lower. I wish you great profits from your trades! Best Wishes, Thales

Hi Folks, For anyone interested in freestockcharts.com, I just received an email from them with the following link to some videos on how to use the software. FreeStockCharts.com Videos Best Wishes, Thales

Hi Folks, For anyone interested in freestockcharts.com, the software I use for intraday charting, I just received an email from them with the following link to some videos on how to use the software. FreeStockCharts.com Videos Best Wishes, Thales

Hi Folks, For anyone interested in freestockcharts.com, I just received an email from them with the following link to some videos on how to use the software. FreeStockCharts.com Videos Best Wishes, Thales

Hi there, What is a "10K" trade. Thank you, Thales

Hi Folks, Just two trades today, both in the afternoon. Neither made it much past the starting gate. Best to your weekend! Thales

I'm sorry, but I am not at all sure that I understand what it is you are asking, so I cannot answer your question.

Hi Folks, Here are today's trades. I have included the charts as well. On the charts, the green ellipses mark entries. You will see that my first HIG trade was stopped for a loss, and the second HIG trade was a winner that nearly erased that first loss. The second ellipse on SNDK would have been an entry if I were still trading, but I am done for the day, and I did not buy at that point. For the second day in a row, the bulk of my profits came from CME. Best Trading to All, Thales

I am a Worden customer also, and use their Telechart for EOD screens. Their real-time Platinum level service is excellent as well. Best Wishes, Thales

Another advantage trading stocks has over futures is that it is often easier to maintain a strict risk profile as stocks offer more flexible position sizing than futures do. A disadvatage is that profits from short term stock trades are taxed treated as short term gains for tax purposes, whereas futures trading profits receive the far more favorable 60/40 treatment. Another disadvantage of stock trading over futures is that the SEC, in its infinite lack of wisdom, has barred the trader with a small capital from day trading stocks. Instead, the trader with limited capital has to trade e-mini's where the leverage on a $500 day trade margin is quite high. Gone are the days when Wyckoff could advise one with a mere thousand dollars in risk capital to learn to read the tape trading in 10-50 share lots. Best Wishes, Thales

Hi Chris, For day trading, I am looking for the biggest percentage movers on that particular day at that particular moment. It is important to "reload" the list from time to time as a stock that was a big percentage gainer early in the session may now be slightly negative on the day and another stock that opened down may now be up several percent and poised to move higher. Best Trading to you, Thales

"There is CALMNESS before, during, and after the trade." - Richard Wyckoff If only it were as easy to implement as it is to read. Best Wishes, Thales

By the way - I did not post the link that way with the "best blah blah blah" tag line. I don't want anyone to think I am somehow linked to or benefit from the free stock charts dot com web site.

I like that set up also. Anyone can enjoy the same set up for free at FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free You can scroll quickly through your list by tapping the space bar. Like I said, nothing fancy.

Hi MCM, I've been trading for a good while. My results have gotten better as my approach has gotten simpler. Also, as I am a daytrader, I don't go into the day with a bias bull or bear. I do not listen to news, I do not listen to CNBC, I am not in a chat room, and I am not posting on forums unless I am done for the day (or at least done for the morning session). One thing that has helped me immeasurably is risk and money management through position sizing. Van Tharp is an excellent source for learning how to implement position sizing into your trading. I know where my stop is on every trade before I make the trade, and the number of shares I trade is based on the initial risk between my entry and my inital stop loss. In my opinion, position sizing is the tru Holy Grail of trading. I wish you well in your trading, Thales

Hi brownsfan, No problem, I have nothing to hide. 1) I trade S & P 500 stocks only, except for an occassional IBD 100 stock. 2) I monitor the 10-12 biggest gainers and losers on a percentage basis. I use the biggest gainers for long candidates and biggest losers for short candidates. 3) I select trades based upon support/resistance, chart patterns etc. 4) All trades are based on decisions made watching the 5 minute chart. 5) I use no indicators other than I do from time to time place a 20 EMA on the 5 minute chart. I will sometimes use pullbacks to the 20 EMA to buy/sell short. So I am usually watching just 20 stocks, though I have the whole SP500 list on my screen. I simply scroll down through the top 10-12 gainers, and then I click on the %change column, and the watchlist reverses so that the biggest losers are now at the topof the list. I scroll down through the top 10-12 biggest losers. That is how I narrow the universe of stocks down. When I am scrolling through the 10-24 stocks that comprise the biggest winners/losers of the moment, I am looking for potential breakouts from consolidations, flags/pennants, etc. As an example, I re-attached the CME chart from today. I was a buyer in the area highlighted within the green ellispse. As I always say, nothing fancy. Also, you will see that I included my watchlist in the screenshot. Best Wishes, Thales

Hi Folks, Just one trade today, but I made it count. Chart is attached as well. Best Trading to all, Thales

Hi Folks, Here are today's trades. Morning trades were PFE & PM were long trades, ICE was a short. Long KO was my lone afternoon trade. Best Trading to All, Thales

Hi Folks, Here's today's trades. Best, Thales

Hi Folks, Three more trades this afternoon. The action in ZION was perfect. AAN and AEM ... not so much. Blotter includes three trades from this morning. Afternoon charts are attached as well. I see I have dated all of the screenshots as 5-9 instead of 5-8 - obviously these trades took place today. Have a great weekend! Best Wishes, Thales

Hi Folks, Three trades this morning and now its time to mow the lawn. I included the charts I use, and as always, nothing fancy. I will take a look this afternoon around 1:30 PM, but I'm not sure that I'll trade the afternoon session. Best Trading to All, Thales

You're in a tough way, bathrobe. I wish there was something I could say to help you, but from my own experience I know there is no way to success unless and until you find your own way to best your demons. Best Wishes, Thales

Hi Folks, Two trades today, both made this afternoon. Genworth didn't fulfill its promise, but Office Depot became a nice little runner. I attached the charts for today. As you can see, nothing fancy. For what its worth, I typically have 1-4 trades/day. I am not concerned with winning percentage at all, but only with letting my winners breathe and choking off the losers early. Best Trading to All, Thales

Hi Folks, One trade today only - it was an afternoon trade. Best Trading to All, Thales