Swing Trading
This is our Swing Trading forum where discussion of swing trades will take place.
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RECENT POSTS
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Hi Markus, I also have an IB account.I am trading a small account but only have traded the ASX so far on IB so was not aware of this issue. Not sure of any other brokers that offer margin accounts for the US. Only alternative is possibly CFDs but you are probably already aware of risks etc. cheers Nader -
Comparing IB and Speedtrader I asume is what you are referring to. IB is better, they have an excellent short inventory. You are correct our style of trading there is not time to call broker for shorts. -
By sdanesh02@gmail.com · Posted
Hi all , has the plan changed ? Its 8.05 and no one is here ?? -
I am comparing IB and Speed Trading. Because I short a lot , which broker will be better for people like me ?I don't think any day trader will call their broker to borrow stocks for short. Thanks -
Jan 23 P&L After Commissions: $143 Trades: 10 Shorts: 6/10 (60%) Did I walk away on my Own: Yes - Hit Profit Goal My goal for today was to go slower in the open. I dont have to take every trade I see. I had to remind myself that there are going to be thousands of trading opportunities today and I'm going to miss 99% of them. I dont need to hop on the first one I see. I have time and I can afford to be selective. I wanted to make sure that I took good favorable setups. I am proud of how I traded in the morning. I took 5 trades in the first hour and half. I am very ok with that pace, and I was fairly selective with what I took. I did go a little crazy at the end of the day. Took 5 trades in about 40 minutes. Only 4 winners today, but I did a good job of keeping the winners significantly bigger than the losers. It was a profitable day and much better than trading days of the past. $PTCT - Broke my stop loss on this trade. I thought this would be a pullback on the ORB and a great spot to enter. It was holding below the EMAs on the 1 min chart and I thought there would be some good resistance where I entered at $30. It blew right through $30 and I was ready to exit on a pullback. The stock was very strong and shot up 35 cents or so. My stop loss was $35.10ish. Basically above the 1 min moving averages. Broke my stop loss big time and when it came back near my entry, I decided to exit. I wasn't going to wait and find out what it did at VWAP. I was ok taking the loss there. The stock ending up coming down, but I was just happy to be out. $QCOM - Found this on the Scanner. Took two stabs at this one. I got out very quickly on the first trade (13 seconds). I had an idea that it might stall there, but I since it broke a few pennies up against me, I got scared and exited. It was a much riskier trade at that point. After a few minutes, it clearly could not break the 50SMA so I went ahead and took it short. Took 200 shares and did a good job of holding a chunk of shares when it reached the bottom. I got $100 on a 72 cent move. $FB - I took FB short when it reached the 50SMA. I put in on my list of stocks that could be potential reversals. I saw this stock making its move up from the bottom, for whatever reason it didn't look like a reversal. It happened so quickly and its not something you usually see. I treated this as a failed reversal when it had trouble breaking above the 50SMA. I took it short there. My entry was $145.88 and my stop was a break above $146. I took a smaller share size since I wasn't super confident. 75 shares. I took some profit right away and waited for it to drop down to $145.20 and then $145 to fully exit. I tried to hold the final shares for the break of $145, but it didnt do that and didn't look like it would so I exited my position fully. $PG - I love taking reversals when the price has broken the 50SMA and then comes back to retest it. I love my entry for the long on this even though it didnt work out. The R/R wasn't the best since the target is usually VWAP and the price action was already fairly close to the VWAP. It broke under the 50SMA and thats my cue to exit. I waited for the pullback to the 50SMA to attempt to minimize the loss and I exited. At that time, it felt like a short to me, so I went short. I did take a little too many shares on both the long (250) and short (225). I thought the stock was moving a little slower than it was. Again I think I did pretty good job of holding for profit. I took some almost right away and then waited for the push down to $94. I had some limit orders set and it filled when it made that large flash push down. $FB - Again these are the reversals that I love to take. I put a limit order in for $145.01. My mindset at this point since I was at goal, was that if it fills, it fills. If it doesn't, it doesnt. Stop was under $145. Tight stop. I was feeling good about the day and didn't want to lose profits here so I exited the trade and scalped a few dollars. At that point, I knew I was done for the day and ti would be better to just call it. Overall did a much better job with trade selection and did a better job of holding my winning trades to maximize my profits. I need to continue to be strict with myself before trading starts and I need to constantly remind myself of what the rules are when I am trading.
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