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Day Trading Basics

Discuss about day trading basics: price action, orders, candlesticks, indicators.

57 topics in this forum

  1. Dilemma in Sim

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  2. Live Trades

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  3. Choppy CPE

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  4. Time and Sales Window

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  • RECENT POSTS

    • Hi Rob, This is so helpful! Thank you for taking the time to explain thoroughly. Can you link me up to the Kyle hotkeys? When you calculated it manually, did you use an excel spreadsheet in the heat of the trade?
    • Hi Kyle, I messaged you this a looong time ago and it could require a lot more scripting, but would be a great feature.   This feature would allow you to have multiple scale out pending orders with 1 stop order at a fixed price (average cost, b/e, or another price figure). After a scale out, your stop order, which would of been sent to the market with Kyle's Keys, would again resend to the market depending on your current position size...so after 1 scale out your number of shares for your stop order would recalc and resend to market and after 2 scale outs, etc.    Say you are long 300 shares @ $10 and want to scale out 100 shares at $10.30, 100 shares at $10.60, and the last 100 shares at $11.00 but want your stop to be at say be at b/e $10.  And the stock hits your first two targets $10.30 and $10.60 but then failed and went back down to hit your STOP at $10.    My question: is it possible to have the pending STOP orders calc your current position size, which is now 100 shares, not the original 300 shares? (Cancel and resend to the market after you're 'in the money stops' are triggered)   Not really related to Kyle's Keys, but could be a new project if it would be practical
    • Kyle, Is there a way to automatically draw a line on a chart at your expected stop price? I saw on another post that you use such lines for reference when you are trading.  Do you draw the lines manually?   Thanks Rahul  
    • I am interested in attending the success webinar. Is there a registration link?  Kyle, thx for your hotkeys! I have just started using them today in simulation and will practice in replay mode this weekend to get familiar with the executions.  Would it be possible to go over how to create a long limit order .20c above the stop-price (double click-to-trade on the chart) which dynamically calculates the shares based on $ risk.  I am using the following command as a template: Long with $20 risk per trade: StopPrice=Price-0;DefShare=BP*0.925;Price=Ask-Price+0.00;SShare=20/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=SMRTL;Price= Ask+0.05;TIF=DAY+;BUY=Send;DefShare=200;  
    • @KyleK29, I am looking for a way to automatically draw a line at my stop level whenever I enter a trade. I need the visual reference as I am unable to effectively respect my stops. Do you know any commands that will draw a line at a specified price and of a certain color?
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