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youngamerican

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    7

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Personal Information

  • First Name
    Pete
  • Last Name
    Portnor
  • City
    new york
  • Country
    United States
  • Gender
    Male
  • Occupation
    paralegal

Trading Information

  • Vendor
    No
  • Favorite Markets
    es
  • Trading Years
    10
  • Trading Platform
    esignal
  • Broker
    IB
  1. youngamerican started following Question About Time & Sales, Building Up Your $$, Think Like a Trader and and 2 others
  2. youngamerican
    The OTCBB market is cyclical in nature. There are times when this market is hot with many stocks going up multiples of 100% in the course of a few days. Most of the time this market is flat and can act as a dirt devil to your capital. You first need to determine if underlying issues are moving. There is a site Trade-Ideas that has free end of day scans. Set up a scan of otc/pink stocks and each day at market close look at the top movers with volume. Be certain to scan for stocks trading a minimum of $100,000 in dollar volume. When you do this you will be able to spot if money is flowing into this market. If it is not, then stay away. Better to trade nasdaq/nyse stocks even if the number of shares you can buy is less. Good luck
  3. youngamerican
    I would stick with stocks and with the market showing some strength now may be the ideal time to swing trade. I would focus on strong relative strength stocks, preferably under $15 a share. Look for tight consolidations after a prior price run. For example, look at SABA and RPTP from last week. In 2003 I had 5K in my account that I was able to compounded significantly. I happened to begin trading at the perfect time as 2003 was a strong year for the market. This led to trading problems later on for me but that is a different issue. There is a pay site that I highly recommend for anyone who wants to swingtrade so PM me for details. I do not run the site nor am I a current member but I learned a lot there. Good luck.
  4. youngamerican
    Watching that video I can see the advantage of using MD Trader as that moving ladder is hard on the eyes. Is your methodology a hybrid of tape and chart?
  5. youngamerican
    You "professional" guys crack me up. On every thread a professional saunters in like a sixth degree blackbelt and criticizes the thread subject, book, setup, etc. and insinuates that it is the path to failure. Douglas would probably say that these boards act as feedback loops for the self proclaimed and I would agree.
  6. youngamerican
    Phantom is there any original ideas that you discuss in your thread that you can point me too? Much of what I have read has been written about before. Thanks
  7. youngamerican
    I don't want to put words in Agekay's mouth but from reading this thread I believe watching order flow gives you just what you are talking about, price acceptance and rejection in its rawest form before it gets to the chart where judgments become more subjective.
  8. youngamerican
    Can you elaborate a bit on why this would not work on NYSE stocks? I was of the understanding that tape reading is to be used ideally in NYSE stocks and in fact once they started going electronic the prop firms started losing their edge using classic tape reading. Unless what you are talking about is not tape reading in its classic sense?
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