Scalping My Way

Do you track/trade Boeing ?
Some news was there regarding Trump's comments.

How To Make Money Trading The Markets.
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The idea behind this thread is to show it is not difficult to make money from day trading US stocks given good methodology and the self-discipline and control to follow and trade it.

No complex formulae or indicators are needed. Neither do you need great foresight.

You need to see what is in front of your eyes and act accordingly on that evidence – nothing else, no hope, no fear.

This is just one of about a dozen set ups I use to day trade US stocks in all sorts of market types, trending, range-bound, grinding etc.

I’ve been earning my living doing this since 1999 and the methods work consistently well, but nothing is infallible and you need the right tool for the right job at the right time.

Above all you need self-control and the humility to realise you are not the master of the markets, you are not “clever”, you are merely an individual who is going to carefully choose high probability situations to make consistent money from the markets.

I often use specific triggers to confirm the trade entries and often the exits. Those triggers are level2 buy and sell pressures and Time & Sales. These refine the trades and often keep me out of the ones which don’t work out; not always, but often enough to give me a powerful edge.

I intend to show in this thread one of the techniques which works consistently.

This thread will only include charting, not level 2 buy and sell pressures and Time & Sales.

The method I’m going to show is fairly straightforward and works well with stocks which are either strong or weak and clearly trending. It is not necessarily about trying to find the beginnings and ends of trends, although it does sometimes indicate the end of a move.

This is about taking bites out of trends repeatedly and consistently.

I’ll talk about the set up, the conditions, how to decide about position size to minimise risk, where the worst case scenario stop can be placed, and why. Personally I tend to be very risk averse and will exit a trade even though the chart doesn’t show the end of the move is likely within the time frame I’m trading. My trigger for the exit is often when I see (in a short) buy pressure building and when I see (in a long) sell pressure building on level 2 T&S.
This often is apparent before any sign on the chart, which puts me ahead of most traders.

There will be examples and then descriptions and clarification to follow.

Remember, nothing is infallible, trading is a percentage business. Some trades will fail but it is absolutely vital that losses are kept to a minimum.
I don’t look for a huge move with this technique although it happens sometimes anyway.
Price action dictates the trade. I control maximum potential loss, (slippage is relatively rare), market action controls the exit from profitable trades.
I’m very happy to take what the market offers.

There were plenty such opportunities to make money this afternoon using this straightforward technique.

In all the charts the red cross hairs were at the time of entering the trade and the image captured at the time of exit.

Three of my trades this afternoon were using this technique. All were successful.

India is closed to most individuals
Update to the following: The rules were relaxed at the beginning of 2012 and foreign individuals are now theoretically allowed to invest directly. However, the process is bureaucratic on the broker’s side and no Indian firms yet seem to be offering services to overseas retail investors. The guide will be updated when the situation is clear.

By comparison, India is straightforward. The market is closed to foreign retail investors, but open to registered foreign institutional investors (FII), without the limits that apply to QFIIs in China. Consequently, individuals can only invest through Indian firms listed abroad (although high net worth individuals can sometimes take positions through derivatives known as p-notes issued by institutions with FII status).

There are a number of India firms with international listings, mostly in through ADRs and GDRs in the US and the UK, although the overall quality is not high and the range is disappointing. There are limits on foreign ownership in India companies and in the case of a few of the most stocks where foreign ownership is full, the ADR can trade at substantial premium to the underlying value of the shares (HDFC Bank’s ADR in New York is ongoing example).

For a Non-Resident Indians (NRI) – a person originally with Indian citizenship now living outside India – or a Person of Indian Origin (PIO) – someone whose parents or grandparents were Indian citizens – the situation is better. They are entitled to invest directly in the Indian markets if they obtain a Permanent Account Number (PAN) from the tax authorities. Any Indian financial institution that caters to NRIs will assist with this.

Overall, India remains one of the most frustrating markets for foreign individuals. The rules are unlikely to change soon, although there is some discussion of allowing foreigners to invest in domestic mutual funds through feeder funds abroad.

Hi Dom, Hope you made lots of $$$$ yesterday :clap:

SunPower gets rewarded for making tough moves
SunPower jumped 14% after the company announced some major cost-cutting initiatives. The solar giant said that it would close a plant, reducing its production capacity by about 700 megawatts to balance supply and demand. SunPower will also cut 2,500 jobs, which amounts to about a quarter of its workforce, and its goal is to cut its 2017 operating expenses to $350 million or less. Overall, SunPower's restructuring moves will incur charges of $225 million to $275 million, but CEO Tom Werner believes that the moves will "enable us to successfully navigate through the current market transition and maximize cash flow while successfully positioning the company for the next phase of industry growth." In part because SunPower had already announced its intent to make a strategic decision like this, investors seemed prepared and applauded the details as they become available. Clearly, investors hope that SunPower's moves will be enough to keep the company moving forward.