Tuesday, March 02, 2010

Mined from the hitting new lows list


i saw CAGC show up on the new lows list. Bang bang down it went fast.


short entry















covered and took profits
Posted by at

6 comments:

Robert Campbell said...

Nice trade! I hope you find the bottom too.

1:30 p.m.
bluecollartrader said...

nice. when you see a stock hit the hod/lod list, are you also looking for volume? My guess is yes because there must be a lot of stocks that hit the list minute to minute and you have to differentiate the hot ones from the minor moves.

2:06 p.m.
joshua said...

nice trade. i am surprised you were able to borrow the shares. lightspeed didn't have any to short.

3:11 p.m.
Scott said...

BC- Thx. The higher the market goes the sweeter the shorts will be sooner or later.
BCT - It takes about a second to check volume, spread, daily trading range. High volume, low spread stocks are what I want to trade. I can't understand how people can trade low float/high spread stocks. You'll get fucked real easy doing that.
J-It's really the luck of the draw. For the longest time AIG wasn't available for me to short. AIG!
Today TNA was not available.

8:56 p.m.
matthew said...

Nice trade Scott.

Joshua - I too am looking at Lightspeed Trading; how do you like them? I have the free trial running and it seems they get as close to RealTick as possible on a smaller budget plus they have the possibility to upgrade to RealTick when justifiable.

9:45 a.m.
joshua said...

matt, i don't know anything about real tick. i have tried to look at their website and figure out why it is $300 a month. i don't know what they offer that justifies the cost. they don't seem to offer trade management software, scanning, or charts. all things that i can get for much cheaper. granted, there are brokers who will pay for your real tick platform if you trade a certain amount of shares.

as far as lightspeed, i think it is great. it is exactly like the platform that Assent uses. it is extremely fast. i set lightspeed up so alt-f9 buys and alt-f4 sells. then i have two more buttons for my stops and two buttons to place bids and offers. orders are instantaneous. i have seen the platform go down once in the past year, when the market went really crazy. no vpn fees.

my problems with lightspeed is that there is no trade management software. say for instance, you buy 500 shares, and you place a stop. then you slowly scale out of your trade as it goes up. the stop order should automatcically reduce share size to much your current position. unfortunetly, it does not.

also, you cannot trade odd lots with lightspeed. sometimes, i would prefer to purchase 50 shares to start a position, as opposed to 100 shares. with lightspeed, you cannot do this. you can do this at tradestation or interactive brokers, but they charge $1 minimum.

although lightspeed says .40 per 100 shares, you also have to add in ecn fees. if you take liquidity, you will charged usually .25 per 100. so on average, you trades will cost you .66 per 100. still, unbelievable inexpensive.


if you have any other questions, feel free to comment on my blog.

10:26 a.m.

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