Robbie Williams

Hi Wesley. I downloaded Andrews hotkey setup and I believe that the new figures for the keys are a 0.05 (5 cent) range now as opposed to 10 cents like you have. In regards to why there is a 5 or 10 cent range on the bid or ask? Well because we are using limit orders, if the price of the stock goes up or down really quickly we want to make sure that we can get in or out of the action. If we just bought st the ask and sold at the bid we might not get our order filled. By adding a 5 or 10 cent range to the bid or ask however, we are allowing a margin of price to be able to enter or exit a trade. Now in regards to the implications of what range to have, if you have a lower range of say 5 cents, it means that you might buy the stock at 5 cents per share higher than the current price.cso if the price of the stock was $10.00 and you bought the stock with a 5 cent range, you might get filled between $10.00 to $10.05. If you purchased 100 shares, you may lose out $5 The same goes for selling, when you sell you may sell up to 5 cents less than what the selling price is - so for 100 shares you've lost out potentially twice, $5. With a 10 cent stop which it seems you have, you could potentially be losing out 10 cents every time you enter and exit the trade. The trade off (mind the pun) between a small or large range is being filled or not and paying more for the share or selling for less. I've seen some people on this forum that are using 3 cent ranges in their entries. I'm not an expert but I've kept mine at 5 cents and I believe Andrew uses 5 cents also. Hope this explanation helps mate.

Thanks Robert and Carlos for sharing, I was jotting down my screenshots in Microsoft word but looking at one note it looks like the perfect application I have been looking to be able to journal my trades. Cheers

Hey Robert I'm loving these trades, thanks for sharing!

Hi Robert - sorry for the late reply - and thank you for your reply. Yes I think that is going to work - if i'm pressing hotkeys all the time, you need to define what type of order it is, a stop, market or limit order otherwise the montage will just get confused or rather default to the last one you used. Cheers

Hi everyone, Hoping someone can help me out at this is driving me nuts. I want to create a hotkey so that I can place a STOP 10 Cents below my entry price on a long order. So far I click Andrews BUY @ ASK +0.5 cent Button which will buy the shares no worries (Route=SMRTL;Price=Ask+.05;TIF=DAY+;Buy=Send;) My code for the 10 cent stop loss is as follows: ROUTE=STOP;StopType=Market;StopPrice=Ask-.11;Share=Pos;TIF=DAY;SELL When I click that it says "Cancelled sell stop" and STOP replaces LIMIT as the type of order in the Montage. If I don't get stopped out and then click Andrews SELL ALL button (Share=Pos;Price=Bid-.05;TIF=DAY+;SELL=Send;) , it doesn't do anything as the type in the Montage is still STOP. My questions are: 1) Does my code for the 10 cent stop loss look correct and 2) What can I put in the code for the SELL ALL button so that it sells - currently it doesn't do anything. I've tried adding "Type=market" but it doesn't seem to help. Any help would be appreciated. I would prefer to use an actual stop if it is at all possible rather than a mental one as I find with with slippage and my reaction speed that I'm getting out of losing trades too late. Cheers everyone. Robbie

Love that chart Robert! Always good to see in graphical form. I'm like you, I thought that scaling out 50% of a position after the stock has moved maybe 15c or 20c is too much because if it does decide to move up 50C or more, you've probably even taken more off the table by then. For that reason, I've changed my hotkeys to POS=*0.33 which is a 1/3. I found myself getting too much stock off the table too quickly but I haven't had enough time to see whether the 1/3rd works best or not. I do like Pauls idea of having hotkeys for 1/2 and 1/4 but at this stage I have programmed hotkeys on my keyboard and don't want to make it too complicated.

Hi everyone, if you want to show your trade info when you click on a trade triangle (type, account, size, time you took the trade etc.) just right click on your chart, click "configure" and uncheck "dont show tip window when left click"

Hi everyone my name is Robbie. I am Australian and work as an airline pilot based, flying to Los Angeles nearly every week. Although I love my job I can't see myself doing it for the rest of my life so I would like to be able to day trade as a way towards financial freedom and possibly part time employment as a pilot at some stage. The stock market opens here where I live in Australia at 0030 in the morning, so during the week I am up till about 2am in the morning in the simulator (I am interested to learn in the American stock exchanges which are way more liquid than Australian). I purchased Andrews book late last year through Amazon along with two other books on trading/day trading. Not knowing anything about the books that I had purchased, I opened the Amazon package and noticed that Andrews book was the smallest of them all. I decided to read this one first as it as the shortest (thinking why I spent the money on such a small "piece of garbage" ;) but I found myself re-reading it and re-reading it and it stuck with me. I eventually joined the chat and then the simulator shortly after. After looking at different way to learn, reading books, watching Youtube videos etc I am glad I joined this specific chatroom learning with Andrews genuine approach.