HGR - I tried my best to post this before it broke out, I was
able to set an alarm which you see. Anyway I'll use this as
another education
Here's a big thing that Steve and I look at when day trading
stocks. HGR has a very clear horizontal level at 28.0 as you
can see from the chart. However when you look at the detailed
quote list, notice that there was a huge offer there at 28 that
dwarfed the rest of the offers above and below it! When you
see that, where the large offer also matches the chart resistance,
generally the trade will pop.
Again I tried to post this before it broke out, but it was too
fast. I've posted examples/set ups like this before in the
past. Anyway use this as an education of what to look for in
a good intra day breakout
james1 - your broker will have it, we use Level 2 quotes for
Nasdaq, and there are more detailed quotes for NYSE stocks and
other exchanges. You just have to subscribe to the feed from
your broker, they all offer it, IB, Etrade, TS, Scottrade, etc
HGR education
Posted by matt on 8th of Apr 2011 at 10:09 am
HGR - I tried my best to post this before it broke out, I was able to set an alarm which you see. Anyway I'll use this as another education
Here's a big thing that Steve and I look at when day trading stocks. HGR has a very clear horizontal level at 28.0 as you can see from the chart. However when you look at the detailed quote list, notice that there was a huge offer there at 28 that dwarfed the rest of the offers above and below it! When you see that, where the large offer also matches the chart resistance, generally the trade will pop.
Again I tried to post this before it broke out, but it was too fast. I've posted examples/set ups like this before in the past. Anyway use this as an education of what to look for in a good intra day breakout
Nice tip - Thanks.
Posted by jwave on 8th of Apr 2011 at 10:36 am
Nice tip - Thanks.
Is there a public site
Posted by jamesl on 8th of Apr 2011 at 10:20 am
Is there a public site were the trade amounts and bids are dislayed (like HGR) for those who don't use tradestation?
james1 - your broker will
Posted by matt on 8th of Apr 2011 at 10:37 am
james1 - your broker will have it, we use Level 2 quotes for Nasdaq, and there are more detailed quotes for NYSE stocks and other exchanges. You just have to subscribe to the feed from your broker, they all offer it, IB, Etrade, TS, Scottrade, etc
Thank you, Matt. I'll chech
Posted by jamesl on 8th of Apr 2011 at 10:45 am
Thank you, Matt. I'll chech into it.
Appreciate your assistance.
And Txs also to all the people/input on the blog. It's very helpful.
Jim
jamesl - you can see
Posted by steve on 8th of Apr 2011 at 10:24 am
jamesl - you can see that on any Level 2/3 with your broker (quote provider)