sorry, a noob qustion here. since u guys are playing US stocks, does that mean u guys would have to stay up late at night to monitor/buy/sell the shares most of the time?

PLAY is not the right word. its Trade.

Play is as if you're billionaire, lost few thousand is nothing.

And depends on individual's risk appetite, some will do day trade (so open and close the trade within the day), some short term (buy today, sell few days later), some mid-term and long term investors.

I'm a combo of day and short-term, but if you wanna day trade, ensure the counter/stock you enter having a good day range swing. Else, hard to LONG or SHORT. Get some sleep 1-2 hours before the market start.

NYSE normally volatile the first hour of trade (on a good day).

The US market is more efficient than the capital market here in my opinion. We can set trailing stop, stop loss, etc. All you have to do is draw your chart, identify your areas of support and resistance and key into the platform. So you don't REALLY have to stay up the entire night

This post has been edited by AdamG1981: Feb 19 2010, 09:07 AM

Adam, thanks for this pointer. I've been having a hard time trying to determine strategy for NYSE due to time difference, monitoring through the night will kill me at my day time work.
Identifying the support & resistance points to identify stop loss etc. and then setting those and DILIGENTLY following those will help me very much.
Arigato!

Or you can get a night job like me.. be a night owl. 9pm to 5am

Ya i wish....but no chance....So have to be comfortable with purchases and live with them....
So far, only two, BAC @ 13.25 sold at 16.50. GE 11.95 sold at 15.80. Now eyeing others, perhaps market tanks tonight...Then go in next week..

Hopefully my "old man" stocks in KLSE won't big impact due to 0.25% increase in discount rates.. If KLSE follow NYSE tank then need to <close eye.jpg> for my local positions liao....

Hi zaman98, I am still holding same as you.

I wouldn't worry too much about it since it is just discount rate to the banks..not the prime. We'll probably fall short term and a week later, we'll climb back up. This market has short term memory.

Yes, that's it. Just play this price channel: 3.1~3.5. C volatility is low but predictable now.
Just scale in and out of position by buying near 3.1 and selling it as it nears 3.5. Like today, it is sell time,
so take some off at this level.. C foreseeable future still bearish, but swing play this thing to make
some money until it gets out of range.

This post has been edited by danmooncake: Feb 19 2010, 12:02 PM

DMC, if like that, I can TT my money today and join your guys next week for rally..

Indeed, plus you can put in your buy/sell order using GTC (Good till Cancel).
Say LONG C @ 3.10 GTC x 1,000. Do just come in once in a while and check it.

TT is very not user friendly.

Try at least 7-8 times to get it passing through..

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Added on February 19, 2010, 3:59 pmBut hopefully next week I am able to play short already..



This post has been edited by epalbee3: Feb 19 2010, 03:59 PM

Depends on your bank. I'm using HSBC, saved as Template. Took me 2-3 minutes only.

Short? What counter(s)?

using "cat" one.

may be DJIA? The the top is almost there..

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Added on February 19, 2010, 5:09 pmI will probably play C at 3.0 - 3.5 first.

By the way, I like to play ERX and ERY as well..

Just wait and reap...

May be with USD3 commission, it will be better than open our own shop with so high overhead. So, this can be our business too..

For the best case:
============
Let's say you have USD2k now.

And you are able to double your money every month.

You will be able to buy a landed property in damansara within 8 months.

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Added on February 19, 2010, 5:16 pmI like this idea..

just say long @ 3.0 and queue to sell at 3.4

unless the counter bankrupt, earning is always there..

or may be we can buy ERX when low and wait, after that sell it at higher price?

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Added on February 19, 2010, 7:26 pmEurope market down for 2% due to interest hike..

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Added on February 19, 2010, 7:30 pmEven though it is bear market, can we take advantage by shorting?

Anyone has any idea which stock is best for shorting?

And, I am thinking buying ERX at the end of this dip.. (perhaps when oil close to USD70)..



This post has been edited by epalbee3: Feb 19 2010, 07:30 PM

Yes, with the ERX/ERY, you can mix and play both ways.. on the way up and on the way down.
It's tricky but as long you'll do it properly and price aware and know the trend, you can win.
They're very volatile because they're 3x leverage, they're not meant for long term investment, they're just for trading only - holding more than one day could lose value. With any of the leverage, and if one is not familiar with it, better try paper trade for a few weeks and testing your strategy before diving it.

For shorting - just scan for those stocks that have terrible head and shoulders pattern or downhill slope pattern of moving average or those already close to reaching its 52 weeks high. But do be careful with strong tech stocks like AAPL, you don't want to short it.

Premarket:
Looks like we're cooling off from the demise of yesterday "sudden" Fed moves.
My take on this is Buy this dip.

This post has been edited by danmooncake: Feb 19 2010, 10:01 PM

perhaps we can buy ERY and ERX together..

we will win if it moves..

I think the big boss is collecting stock today.

we will see some rally after this..

what d fcuk?? I'm expecting 3 digits drop. Fuh, not goin to happen anytime soon with FED kacau the interest rate.

epalbee3, just a thought.

with 2K, you dun hve much options, plus even cannot buy ERX.
Say you pickup 50 x 38.00 > $1900.

It moved to say 41 in 2 days. So only $150. I'm not trying to be negative, but you can't make double of 2K to 4K in 1 month.

Even you get C at 3.10 and dump at 3.25
3.10x645 @ sell 3.25 @ 645 = profit 91$

Unless you show me how you can make 2k to 4k in 1 month, I wanna know and can quit my job.

well.. yeah, it is just a thought..

but let's say if you can double your money in 3 months time, then you should be able to buy a damansara landed house in two years time.

quite difficult, only if we can get 33% per month or 8% per week gain, constantly..

unless we have sure win approach lor..

the key is "win constantly".

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Added on February 20, 2010, 12:09 amI am thinking like this:

let's buy 25 ERX and 25 ERY at USD38.

let's say if ERX climb to 42, sell ERX and earn 25 x 4 = $100.

then wait until ERX drop to 34, sell ERY and earn 25 x 4 = $100

(both are counter-priced)

Since the market will swing, then winning will have higher possibility.

Any comments on this method?

This post has been edited by epalbee3: Feb 20 2010, 12:09 AM

Still I dun think so it will work. Too tiring and too volatile. Better pick will be LVS/MGM as you can average it if anything happened.
for 3x, choose either one. Don't buy both way. Remember you can long or short ERX singly, why need 2 counters?

You can make say 3-5 winning trade weekly is possible but not likely.

Rather than getting ERX, why not counter which is 5-10$, which with little movement give better return than ERX?

hmmm timing must be dem good woh but i agree wif zaman...usd2k........ :/ unless dem good timing......or maybe u can play margin stuffz, better chances at doubling with just 2k... (also better chance at dying)

Quite difficult to find the timing..

if anyone of you know, let me know and I can quit my job too..