What is level 1 & level 2

Level 1 means where a trader can see the bid & ask price & the size. A trader can also see the last price & last size.


Level 2 is more detail ,a trader can see the highest bid & size, lowest ask & size.

On the left we can see open buy limit orders which is called bid, starting with the highest price. On the right we can see the ask prices, which are open sell limit order arranged starting with the lowest.Next to the bid & ask price we can see the size .

Snow white

Order Types traders use:

1. Market Order - an order to buy or sell a stock at the best bid or asks price. A market order will get filled for you fast, but you might not like the price! By then you have no choice but to take the price and hope your day trade is heading in the right direction. If the market is moving fast and you simply have to get in, sometimes a market order is the only way.
2. 
   Limit Order - an order to buy or sell a stock at a specified price or better. This is the day trading order of choice for day traders and indeed traders of other types..
3. 
   Stop Order - an order that becomes a market order when a specified price is reached. This order mostly use to protect a day trading position from incurring larger than acceptable losses . A "buy stop" order is placed above the current price and a "sell stop" order is placed below the current price.

Not a bad day

Summery +442

Round or decade numbers act as huge support or resistance

Trying to be a photographer

Do you like the colours?

Some beautiful charts

Some opportunity i missed

CNH is not very good very setup, but i liked the narrow bar/candlestick.

copulation

Me & depression

How low is low ?

As we know every one is looking for low risk setup. But the question is how low is the low we are looking for? In my short trading career i fund it really hard to find a low risk setup that really satisfied my wishes. According to my trading plan i should risk only 1% of my account(fixed amount),but i fund it hard to loss that much. So i made a change,the change is ,i will be only trade a stock if the previous candlestick of my entry candle is narrow enough to give me the same amount(or less) the stock price is ,but in cents. For exm in a 20 dollar stock i am willing to take .20c risk.

No trade

I couldn't find any opportunity today & i did push me to make any trade which i am proud of.

Me & mimic

Trying to be a photographer.

Can you smell the bear:

The shadow of candlesticks:

Why the shadows of the candlesticks are not less important then its real bodies? There are many occasions when shadows become more important then their real bodies.

What we understand when long shadows appear:

· Shadow indicate uncertainty
· The bigger the shadow the bigger the uncertainty
· In an uptrend upper shadow should be noticed as a caution sign.
· In a downtrend the lower shadow should be noticed as a caution sign.

Candlesticks i use to find trades:

Inverted Hammer

Hammer


Shoothing Star

A Doji, Dragonfly Doji, Gravestone Doji

Hanging Man

What is more important in day trading, Entering or exiting a position?

According to my trading plan I don’t enter a trade until I found a candlestick which is short or narrow enough to give me the risk I am willing to take ,what does it mean? It means I only enter a trade when I found an excepted risk: reward ratio. Now the problem anyone can face is you can know your risk easily (could be predetermined) but reward, how do you know, what is the reward, before closing the position. What I do? I look at the next round number, support line, resistance line to find my exit point. I also exit a position if it drop below 5EMA,but it is not possible to before hand.So exiting a trade is not less important then entering or vice versa.

Pendulum in the stock market

Remember February 27, 2007, biggest one-day loss since 2001, yes that was the top left of the pendulum. Unfortunately that was the fast shake of it, so it kicks the start button, now we are moving from left to right until it lost its momentum. Every trader knows how hard it is to trade in this kind of market, where fed wants to boost the economy by lowering short-term interest rate from time to time ,which comfort the investor for short period of time .After those very short lived green days we stuck in the red light for unpredictable time. This pendulum could probably bring the bear down, by hypnotizing the Wall Street bull. Some traders who sold short from the top of the head and shoulder top which started at mid October assumingly they are better off, though long term investors are in agony.

My trading system

• 
  High volume stock ,price range $10-$150.
• 
  Daily volume at 10 am 600k-300k.
• 
  I will use 15 minutes chart but also check 30 minutes charts to find opportunity.
• 
  Avoid extremely wide opening ranges( shadow)
• 
  Choppy price action.
• 
  Not get into any position before 10.am
• 
  Narrow range bar is the best candle to enter.
• Exit trade when i gain round figure like .50c ,1 dollar or if the price move below 5 EMA.
• 5 EMA need to be close to the candle.
• 
  Enter stop loss as soon as get into a position.
• 
  Before entering a position I must know the stop loss and possible exit.
• 
  Position size will determine by dividing the fixed amount by stop loss.
• 
  Pattern that I trade a. opening breakout b. flag c. pullback d. base breakout e. wedge f. triangle h. tweezers top & bottom
  

Trying to be a photographer

Tallest building in sweden(Turning torso).

Recession

What is a recession??
Recession is defined as a period of economic depression ; when the economy actually gets smaller. Generally, two months of decline in the GDP or a sharp rise in the unemployment rate, are red flags that a country is approaching, or in the middle of, such an economic contraction . In recession there will be a decrease of less than 10% in a country’s Gross Domestic Product (GDP). The decrease must last for more than one consecutive quarter of a year.

Trades i made this week

Summery +305,-97

Trades i made this week

Total amount i made or loss +466,-87,+201