kkoskela

Hey, Does anyone know if Andrew was able to get $1 minimum commissions? Thank you,

Hey Peter! Robert hit it right on the nail. I have noticed myself getting chopped up by some of these NYSE stocks. They often take awhile to make a big move to the up or downside, which can, psychologically, be difficult to sit through. When you're going through "stocks in play" in the morning, pay close attention to which stocks are NYSE stocks. Perhaps, let these stocks develop a clear pattern before jumping in. As Andrew went over this morning, Time and Sales can be a great way to judge which types of investors are playing the stock for the day. We saw that FL had a much better order flow than CPE, telling us that FL was still very much in play. Unless a very clear opportunity exists, such as a stock that has good order flow and volume, I would avoid trading NYSE stocks. I wouldn't totally avoid trading them. But, if you get stopped out on your first trade, sit back and watch the stock for awhile and observe the order flow and price action. PBR, FL, CPE, and HLF were all NYSE stocks on the Gappers watchlist in the morning. All of them were relatively choppy in the first 15-30 minutes. I got stopped out on CPE twice in the first 15 minutes. Both on the long and short side. I was down about $250 dollars on CPE. However, after the first 30 minutes, some good opportunities presented themselves on these stocks, especially FL. I was able to make all my money back and eventually finished the day up $600 on FL, MU, and PBR.

I'm definitely in! I'm currently studying for the GMAT and Daytrading for the next 2-3 months, so I'm very flexible as far as scheduling. I have one commitment the weekend of July 14th-15th. I'm free any other weekend. -Kevin K.

Hello! When entering a false breakout, what is the ideal entrance point? I'm guessing it can depend on the chopiness of the price action. I'm assuming if a stock was really choppy, it might be better to wait for a 1 minute candle stick or 2 to close below VWAP before going short? I have also seen traders enter trades exactly when the price hits VWAP. I typically have waited for a 1 minute candle stick to open and close below VWAP, unless the stock looks very weak. I'm wondering what people's thoughts were on this. Thanks! Kevin K

I live in Chicago as well! I'm just getting my day trading career started. I might be down for a meetup if things go well the next couple months!

Thanks everyone for their responses! Because I'm depositing $30,000, I think ST makes the most sense for me. I plan on using similar share size as Andrew. The $500 signing bonus, $2.95 flat trades, and free DAS is an awesome deal. I hope to go live in a couple weeks. I'm starting to profit consistently on my simulator. Wish me luck! -Kevin K

You mentioned PDT rules apply for SpeedTrader. That mostly just means you have to maintain at least $25,000 in your account, correct? I'm planning on depositing $30,000 into my account. Also, what margin does SpeedTrader offer? Thanks,