Fidelity mutual restrictions
If 30 days restriction, if in and out then in 30 days, it will have 85 days restriction not allow to buy
Wednesday, February 22, 2017
Round trip
Tuesday, February 21, 2017
Trader discipline
Andre
I read 'Market Wizards' -- Interviews with Top Traders by Jack D. Schwager. Jack interviews about 16 of the top traders, including one with Gary Bielfeldt. From what I've learned, Gary Bielfeldt became a major player in the futures market as a T-bond trader in the 1980s and was known as the best individual trader in that market. By the early 1980s, his trading size had increased to the level where government-established speculative position limits were becoming a problem, so Bielfeldt shifted his focus to the T-bonds market. He eventually traded at the institutional level but started with a $1000.00 investment in the soybean market, while trading from his home. There was no internet in the 1980s, so the trades were placed over the phone.
Here's my summary and interpretation of Gary's trading experience and wisdom: When Gary was asked why most traders lose, he said "they overtrade, which means that they have to be right a lot just to cover commissions." He said that the most important thing is discipline. Second, you must have patience. If you have a good trade working for you, you have to be able to stay with it. Third, you'll need the courage to go into the market. This courage comes from and starts with being adequately capitalized. Fourth, you must have a willingness to lose; that is also related to adequate capitalization. Fifth, you need a strong desire to win. He went on to say that most traders have a tendency to take risks that are too large at the beginning of their careers. Gary Bielfeldt quotes: "You should have the attitude that if a trade loses, you can handle it without any problem and come back to do the next trade." "You can’t let a losing trade get to you emotionally." "You must have a method for staying with your winners and getting rid of your losers.”
As Gary continued to elaborate, many of us start out in our trading careers thinking that we are the best and that we are going to beat the market. It's certainly fine to have confidence but it's not advisable to start with a mindset thinking that you know everything. Humility will serve you better as a trader. As Bielfeldt has stated in numerous interviews, many beginning traders are greedy and bold and end up wiping out their capital. That is why Gary said that he will never get tired of saying that novice traders should treat this endeavor as a serious business and put in the time to study. When they start trading, it should be with very small positions.
'Analogy between trading and poker' -- Gary learned how to play poker at a very young age. His father taught him the concept of playing the percentage hands. You don't just play every hand and stay through every card, because if you do, you will have a much higher probability of losing. You should play the good hands, and drop out of the poor hands, forfeiting the ante. If you apply the same principles of poker strategy to trading, it increases your odds of winning significantly. Gary has always tried to keep the concept of patience in mind by waiting for the right trade, just like you wait for the percentage hand in poker. If a trade doesn't look right, you get out and take a small loss.
Saturday, February 18, 2017
Thursday, February 16, 2017
Coal stock
Coal stocks to keep on a watchlist: NRP, FELP, CLD, CNX, ARCH, WLB, TECK, AHGP, HNRG, ARLP, CNXC, YZC, NC
SXCP -- SunCoke Energy Partners, L.P., a master limited partnership, produces and sells coke used in the blast furnace production of steel in the United States. It operates through two segments, Domestic Coke and Coal Logistics. The company also provides metallurgical and thermal coal mixing and handling terminal services, as well as operates Convent Marine Terminal, an export terminal in the United States Gulf Coast, located in Convent, Louisiana. It offers coal handling and/or mixing services to steel, coke, electric utility, and coal mining customers. SunCoke Energy Partners GP LLC operates as the general partner of the company
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SXC - SunCoke Energy, Inc. operates as an independent producer of coke in the Americas. The company operates through four segments: Domestic Coke, Brazil Coke, India Coke, and Coal Logistics. The company offers metallurgical and thermal coal for use as a raw material in the blast furnace steelmaking process. It also provides coal handling and/or mixing services to steel, coke, electric utility, and coal mining customers.
Bull coil break resistance
Finally understood bull coil break resistance
When high of stock could not be higher, then it is called resistance. So buy and sell break even for a while, finally volume comes in breaks the resistance, then stock prices will go up at least for 8 one minute bars then drop.
So put in a condition, if price > resistance price then buy with market price.
Hold for 8 minutes and sell it. Or 13 minutes.. I don't think it will last for whole day... Usually 5 waves then drops.
Andre 2
by Andre Andropolis - Short-term trading strategies -- Using 'Tape Reading' to Identify trade set-ups
I usually wait to the market opens before entering a trade to see how each stock is acting but there are times when I'll consider buying a stock in pre-market. I like to scale into a stock as the trade moves the direction I thought it would. As a particular stock rises in price, I will buy smaller blocks at higher prices until I reach the position size I want. As I scale into a winning position and the stock continues to move in my favor, I may set a break-even stop loss if the stock has moved far enough away from my entry. As these winners continue to move in the right direction, I'll continue to move my stop or trailing stop up according to a number of factors that include: my risk tolerance, how the stock market is acting, how my stock is reacting to the market conditions and any news that the company released.
I use tape reading now as an indicator to identify a stock that is about to make a move before it does. To do this, I want to see the majority of trade executions(buys and sells) occurring on the offer price or the 'Ask.' We want to see traders buying immediately with market orders and not waiting for their specific bids to get filled. These traders have a mindset that basically says that if I want to participate in this stock before the big move is made, then I need to enter immediately. Traders that are buying the stock on the offer price are saying they're willing to sacrifice the bid / ask spread in exchange to enter the stock
Andre 1
by Andre' Andropolis -- Some of my thoughts on trading and risk management: One thing that I've learned in trading is to not focus on the money but to focus on executing trades well. If a trader is getting in and out of trades rationally, the money will take care of itself. If we as traders focus on the money, we will sometimes impose our will upon the market in order to meet our financial needs. There is usually one outcome in this scenario -- the trader will hand over money to traders who are focused on protecting their capital / managing their risk and letting their winners run. Stay relaxed, place a trade and set a stop. If you get stopped out, you're doing your job and actively protecting your capital. Professional traders actively take small losses. There are times that traders will resort to 'hope' to save their trade. I have done this and it has cost me tens of thousands of dollars and I never want to experience this again. In life, hope is a powerful and positive thing but in executing a trade, hope is a virus that can infect and destroy a trader's capital. Refuse to damage your capital. Again, this means sticking to your stops and sometimes staying out of the market. Be very aware of your emotions when trading because irrational behavior is every trader's downfall. We are trading with other traders, not the actual stock. We have to be aware of the psychology and emotions behind trading.
Importance of position sizing: Position sizing helps protects against 'catastrophic loss.' This is the type of loss that can destroy a big portion of your trading account. This type of loss usually takes place when a trader chooses to take a much bigger position size than they should. Irrational thinking takes over, causing the trader to make a large bet by entering the trader with an oversized position. The most obvious damage from the loss is financial but the mental trauma can be more damaging. Something that goes hand in hand with position sizing is using stops. A protective stop loss is simply a pre-determined price where you decide exit a position if it should move against you. It's critical to combine reasonable position sizing with risk management by using protective stops.
Build up to a full position as the stock goes your way. Money management is the key to success. There is no logical reason to hesitate in taking a stop. Re-entry is only a commission away. Sometimes we have to look for opportunities not to trade. At times, the best way to minimize your risk is to not trade when stocks are not acting right or in a choppy, sloppy market. As Harry has said many times, 'being in cash is a position.' By staying out of the market during times like this, you are being proactive in reducing your risk and protecting your capital.
Some of my thoughts on scalp trading: In a choppy market, volatile market or when the market is trading in a narrow range, my preference is to use scalp trading. It requires that you act and react quickly in reading the movement. Scalp trading allows a trader to limit risk by having a brief exposure to the market, plus it's much easier for a stock to move 10 or 20 cents, than it is to move $1.00 or $2.00. Being able to hold positions for shorter periods of times helps avoid or reduce the chances of equity or market reversals stopping you out of your position and giving up your gains. For me, scalping also means that my risk has been reduced and that I don't need to have the proper patience that's necessary for success in other types of trading, We need to be patient with winning trades and very impatient with losing trades. If you set the appropriate trailing stop when a strong trend has developed, you'll stay in the stock and stand to multiply your profits from the trade.
As a student of life and trading, I'm always looking opportunities to learn and grow. One of the most unique statements that I've come across is the one titled "The Philosophy of Water" by Bruce Lee, martial artist and philosopher. This quote can apply to life as well as in trading. "Don't get set into one form, adapt it and build your own, and let it grow, be like water. Empty your mind, be formless, shapeless — like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it becomes the teapot. Water can drip and it can crash. Become like water my friend.”
My thoughts as to how this statement by Bruce Lee can be applied to trading: "As water flows, we can see that it makes adjustments and adapts to its ever changing environment. As traders, we must also make adjustments and adapt to the ever changing markets conditions that we see unfolding. Don't bet or try trading against the market trend - be like water and flow with it. Being a successful trader involves more than just choosing the right entry and exit point. Managing risk to preserve capital is also critical. We must constantly work to eliminate emotions from trading and strive to trade from a more rational, disciplined and relaxed state of mind.
Andre
I use tape reading in combination with technical analysis. My morning is focused on price / volume action and tape reading. The time and sales window allows me to try and identify buyers and sellers. My goal is to attempt to identify the footprints of large traders, institutional traders and high frequency traders. I'm looking for stocks that are exhibiting very unusual behavior in pre-market and after the market opens. Unusual behavior refers to unusually strong price and volume action. (price and volume spikes) Stocks that are strong and exhibiting relative strength despite the market going down are also ones that I consider. I use tape reading for short-term scalps as well as for day trades. I'm using a much shorter-term time frame (1 and 2 minute charts) for scalping. I move between 3, 5, 10, 13 and 15 minute charts for day trades. This all depends on how the stock is acting and what's driving the action. (compelling news, short ratio, float size, is the stock thinly traded?) All of these metrics play a role in tape reading and how I decide whether to enter a trade. I will take a small position to minimize my risk to determine if my hypothesis was correct to enter. If the decision to enter wasn't correct, I exit quickly with small losses. In other situations, I may scale into a position as the stock moves higher away from my entry price. If I see high velocity in the order speed with trades being executed on the 'Ask' price, I might enter with a full position immediately.
Wednesday, February 15, 2017
Saturday, February 4, 2017
SonnyBlack trading mistaes
Good Time to re-visit Trading Mistakes...........I have made them all...some more than once
Trading Mistakes Re-Visited............
Trading Mistake # 1.....Don't Fall in Love.....Got a great stock ..wonderful...Its a part of your portfolio that's doing well..Its not your wife or girlfriend Its not something or someone that is going higher because you own it...Its a decision you made that looks ( Right Now ) like you might be on the right side..Book it Dano...and move on..
Trading Mistake # 2...Never Average Down....People say all the time that its the best way to lower your cost...Of Course it is if you are holding for 20 years and I dont know anyone in here doing that..You are throwing good money after bad….Get out and re-evaluate
Trading mistake 3 Is Never Trade against the trend of the market..Lots of people think they are smarter than the market..Heres a clue..Youre not..Not only that..Regardless of how much money you have..Its not enough..Look at the market..
Trading Mistake 4...Dont ever trade Mistakes ....We all make em...they get compounded by trying to Trade out of them Profitably...Rarely happens and when it does Its luck...Get out and Take you lumps....
Trading Mistake 5…Never Trade without Volume...They must have volume ..so If you need to you can get out..Worst feeling in the world is to want to sell and cant because there are no bids.....
Trading Mistake 6….Failing to learn how to short…..
Trading mistake 7...Never Ever trade when You're Tired ..Need sleep.... Get it..The market will be there tomorrow and If you miss a setup..That's ok Another one will come along soon enough....Nothing worse than buying or selling when you're tired....You wouldn't work when you're exhausted why should you trade...Close the site and get some shuteye.....
Trading Mistake 8 .....Placing wrong stops......Placing a stop based on Percentage, although many people do it, can result in leaving a lot of money on the table. Stops should be based on Support and Resistance Lines. One way to look at it may be to chart the Bollinger Bands around a stock. The Bollinger Bands will tell you a good price to place your stop....“Ninety-five percent of all price activity falls within two standard deviations,” ..Stops are important and the right stops are very important..start them right and keep adjusting them...Look at them every day and adjust them according to your stock Movement..
Trading Mistake 9 Picking Tops and Bottoms....... The best traders in the world would never ever consider trying to pick a top or bottom..Know why ? Because they let the market tell them when a bottom or top is formed...Trading is an odds Game...and the odds are definitely in your favor when you allow the market to tell you when go Long or short...EGO...is the only reason to pick a top or bottom....Period....Its not an EGO Game...It an Odds game...and put the odds in your favor
Trading Mistake 10.....Looking at Biotech's and not seeing the pipeline...Only the earnings....Biotech's are not about Earnings when they are in the growth stage..they are about Pipelines and what they bring to the table in the future..Are they frustrating ..Absolutely...Can they be pushed around....Definitely ...are they big short candidates....Yup they are....and do they do a ton of money Raises..yes they do...Can they go from pennies to hundreds of dollars..O yea...they have for me..I have made and lost a ton in them..They are definitely not for the weak of Heart
Trading Mistake # 11…."Losing your cool..."....Most successful traders dont let their emotions get the best of them...Contrary to what you believe that stock you just sold, didnt go higher because you sold it...Believe me you are not that powerful...Most successful traders learn from their mistakes and limit them...You know why you sold before it took off..Most likely out of Fear because you had too big of a position..Every event is either a Gift or a Lesson....Learn to keep your emotions in check or find a new Profession....This may seem like a trading mistake thats not that important..but trust me ..It is.....One way to see if you are right or if you had just bad timing..Trade 100 shares or sell down to a comfort level...No one is telling you to sell it all...
Trading Mistake # 12.....Not Establishing a Risk Reward Ratio....... Every Trader is different and has a different comfort level..I believe everyone has to establish for themselves what they expect from a trade before they enter the trade...Yes before they enter the trade.....If I see a trade that I think can go from 40 to 41 although that may be a great day trade...It doesn't work for me as a swing....I need to have the potential to make 3 times my money on a swing..so in the case where I am buying a $40.00 stock I have to see that the probability of getting to $43.00 is there or I don't enter it as a swing...Be selective there are plenty of stocks to choose...And there will be setups....You don't have to rush into a trade .....One thing I have learned over the years..Sellers come out at every level..Buyers can and do Dry up....
Trading Mistake # 13……….No Recordkeeping When the Bell rings the work just begins…What needs to be done is you must review what you did well today and what you didn’t…Make notes…. create a diary…and most important Chart your buys and sells….your P&L….The last thing someone wants to do after a losing day is to recreate it….But to be successful you have to…To learn you have too…
Trading Mistake # 14…..Trading the news instead of the stock. Just because you like a company or its product, doesn’t mean you should like its stock. Lots of people see how great a product did and buy their stock on the open. Be careful not to confuse amateur hour with real buying….
Trading Mistake # 15 The tax tail wag the dog. “In 2008, Etherington worked with a family that had held a large Bank of America BAC -0.41% holding for years. Not only did they have an emotional attachment to the stock, they didn’t want to pay the taxes on the cash they would earn from a sale. But when bank stocks got crushed in the financial crisis the family was out much more than the 15% capital gains tax.”…..Pay the tax and be happy to do so……
Trading Mistake # 16 Getting too big for your britches and being Greedy… So You have been successful trading 1000 shares per Trade, your making money and everything is great. All of a sudden you get this bright idea that if your making X amount trading 1000 shares why not trade 2000 and make double. Makes sense Right…Wrong !!!!!! When you decide to increase your trades do it slowly…calmly…and most of all not all at once…There is absolutely no reason you can’t go from 1000 shares to 1100 for a week or so and if that works go to 1200..etc Until you find your new comfort zone. Capital preservation is the key….You cant play if you have no cash..
Trading Mistake # 15 ….Using Margin improperly….Want to destroy your account quickly…Borrow the money to trade from your broker and be wrong….Doesn’t take long to ruin an account with borrowed money…If you must Borrow….Borrow intraday and use it wisely….Having to sell because you have a margin call and seeing your stock skyrocket right after you sell isn’t pretty….
Misusing margin
If there is anything that can destroy a trader's account, it's margin. That's when you borrow from a broker to buy securities. If used properly, margin is a valuable tool that can boost profits and give traders breathing room. In the past, many people misused margin, borrowing more from the brokerage than they could afford. It wiped out some traders' accounts and helped to give day trading a bad name.
Trading Mistake # 17...Chasing....One of the most common Mistakes a Day Trader can make is chasing..More than Likely You're going to lose money. Now this mistake is only for Day traders..When we see a stock taking off and don't pull the trigger we wait and wait and wait..until we finally buy near the top and get stuck while the experienced traders are getting out. So what do we do....We compound the mistake by turning a day trade, into a swing trade into a position trade..until we have lost so much money we sell out...at which time the stock turns and goes higher...Number 1 rule..is that's there's always another one...Take a deep breath and realize that you are not going to be in at a great price on every trade...Like they say...they come along like buses every few minutes....Capital Preservation is the name of the game....No money ...No trading Trading Mistake # 18...........Not booking Profits....Stocks move all the time..Higher , Lower..Blah, Blah Blah....Can you remember how many times you were up on a trade only to have it turn into A loss...Not Cool....The bottom line is increasing your capital and you can only do that by Booking Profits..Book em Dano..Book em...You can always get back in...
Trading Mistakes Re-Visited............
Trading Mistake # 1.....Don't Fall in Love.....Got a great stock ..wonderful...Its a part of your portfolio that's doing well..Its not your wife or girlfriend Its not something or someone that is going higher because you own it...Its a decision you made that looks ( Right Now ) like you might be on the right side..Book it Dano...and move on..
Trading Mistake # 2...Never Average Down....People say all the time that its the best way to lower your cost...Of Course it is if you are holding for 20 years and I dont know anyone in here doing that..You are throwing good money after bad….Get out and re-evaluate
Trading mistake 3 Is Never Trade against the trend of the market..Lots of people think they are smarter than the market..Heres a clue..Youre not..Not only that..Regardless of how much money you have..Its not enough..Look at the market..
Trading Mistake 4...Dont ever trade Mistakes ....We all make em...they get compounded by trying to Trade out of them Profitably...Rarely happens and when it does Its luck...Get out and Take you lumps....
Trading Mistake 5…Never Trade without Volume...They must have volume ..so If you need to you can get out..Worst feeling in the world is to want to sell and cant because there are no bids.....
Trading Mistake 6….Failing to learn how to short…..
Trading mistake 7...Never Ever trade when You're Tired ..Need sleep.... Get it..The market will be there tomorrow and If you miss a setup..That's ok Another one will come along soon enough....Nothing worse than buying or selling when you're tired....You wouldn't work when you're exhausted why should you trade...Close the site and get some shuteye.....
Trading Mistake 8 .....Placing wrong stops......Placing a stop based on Percentage, although many people do it, can result in leaving a lot of money on the table. Stops should be based on Support and Resistance Lines. One way to look at it may be to chart the Bollinger Bands around a stock. The Bollinger Bands will tell you a good price to place your stop....“Ninety-five percent of all price activity falls within two standard deviations,” ..Stops are important and the right stops are very important..start them right and keep adjusting them...Look at them every day and adjust them according to your stock Movement..
Trading Mistake 9 Picking Tops and Bottoms....... The best traders in the world would never ever consider trying to pick a top or bottom..Know why ? Because they let the market tell them when a bottom or top is formed...Trading is an odds Game...and the odds are definitely in your favor when you allow the market to tell you when go Long or short...EGO...is the only reason to pick a top or bottom....Period....Its not an EGO Game...It an Odds game...and put the odds in your favor
Trading Mistake 10.....Looking at Biotech's and not seeing the pipeline...Only the earnings....Biotech's are not about Earnings when they are in the growth stage..they are about Pipelines and what they bring to the table in the future..Are they frustrating ..Absolutely...Can they be pushed around....Definitely ...are they big short candidates....Yup they are....and do they do a ton of money Raises..yes they do...Can they go from pennies to hundreds of dollars..O yea...they have for me..I have made and lost a ton in them..They are definitely not for the weak of Heart
Trading Mistake # 11…."Losing your cool..."....Most successful traders dont let their emotions get the best of them...Contrary to what you believe that stock you just sold, didnt go higher because you sold it...Believe me you are not that powerful...Most successful traders learn from their mistakes and limit them...You know why you sold before it took off..Most likely out of Fear because you had too big of a position..Every event is either a Gift or a Lesson....Learn to keep your emotions in check or find a new Profession....This may seem like a trading mistake thats not that important..but trust me ..It is.....One way to see if you are right or if you had just bad timing..Trade 100 shares or sell down to a comfort level...No one is telling you to sell it all...
Trading Mistake # 12.....Not Establishing a Risk Reward Ratio....... Every Trader is different and has a different comfort level..I believe everyone has to establish for themselves what they expect from a trade before they enter the trade...Yes before they enter the trade.....If I see a trade that I think can go from 40 to 41 although that may be a great day trade...It doesn't work for me as a swing....I need to have the potential to make 3 times my money on a swing..so in the case where I am buying a $40.00 stock I have to see that the probability of getting to $43.00 is there or I don't enter it as a swing...Be selective there are plenty of stocks to choose...And there will be setups....You don't have to rush into a trade .....One thing I have learned over the years..Sellers come out at every level..Buyers can and do Dry up....
Trading Mistake # 13……….No Recordkeeping When the Bell rings the work just begins…What needs to be done is you must review what you did well today and what you didn’t…Make notes…. create a diary…and most important Chart your buys and sells….your P&L….The last thing someone wants to do after a losing day is to recreate it….But to be successful you have to…To learn you have too…
Trading Mistake # 14…..Trading the news instead of the stock. Just because you like a company or its product, doesn’t mean you should like its stock. Lots of people see how great a product did and buy their stock on the open. Be careful not to confuse amateur hour with real buying….
Trading Mistake # 15 The tax tail wag the dog. “In 2008, Etherington worked with a family that had held a large Bank of America BAC -0.41% holding for years. Not only did they have an emotional attachment to the stock, they didn’t want to pay the taxes on the cash they would earn from a sale. But when bank stocks got crushed in the financial crisis the family was out much more than the 15% capital gains tax.”…..Pay the tax and be happy to do so……
Trading Mistake # 16 Getting too big for your britches and being Greedy… So You have been successful trading 1000 shares per Trade, your making money and everything is great. All of a sudden you get this bright idea that if your making X amount trading 1000 shares why not trade 2000 and make double. Makes sense Right…Wrong !!!!!! When you decide to increase your trades do it slowly…calmly…and most of all not all at once…There is absolutely no reason you can’t go from 1000 shares to 1100 for a week or so and if that works go to 1200..etc Until you find your new comfort zone. Capital preservation is the key….You cant play if you have no cash..
Trading Mistake # 15 ….Using Margin improperly….Want to destroy your account quickly…Borrow the money to trade from your broker and be wrong….Doesn’t take long to ruin an account with borrowed money…If you must Borrow….Borrow intraday and use it wisely….Having to sell because you have a margin call and seeing your stock skyrocket right after you sell isn’t pretty….
Misusing margin
If there is anything that can destroy a trader's account, it's margin. That's when you borrow from a broker to buy securities. If used properly, margin is a valuable tool that can boost profits and give traders breathing room. In the past, many people misused margin, borrowing more from the brokerage than they could afford. It wiped out some traders' accounts and helped to give day trading a bad name.
Trading Mistake # 17...Chasing....One of the most common Mistakes a Day Trader can make is chasing..More than Likely You're going to lose money. Now this mistake is only for Day traders..When we see a stock taking off and don't pull the trigger we wait and wait and wait..until we finally buy near the top and get stuck while the experienced traders are getting out. So what do we do....We compound the mistake by turning a day trade, into a swing trade into a position trade..until we have lost so much money we sell out...at which time the stock turns and goes higher...Number 1 rule..is that's there's always another one...Take a deep breath and realize that you are not going to be in at a great price on every trade...Like they say...they come along like buses every few minutes....Capital Preservation is the name of the game....No money ...No trading Trading Mistake # 18...........Not booking Profits....Stocks move all the time..Higher , Lower..Blah, Blah Blah....Can you remember how many times you were up on a trade only to have it turn into A loss...Not Cool....The bottom line is increasing your capital and you can only do that by Booking Profits..Book em Dano..Book em...You can always get back in...
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