All Entries in the "Day Trading" Category
Week 6 Trades Review (Video)
February 13, 2012 at 9:23 am
The market continued its recent run last week as the NAZ made multi-year highs yet again before a Friday pullback erased the week’s gains. All in all, it was a healthy week of rest for the indexes.
Despite the lack of overall market movement last week, we were able to capture some nice very gains in our trades inside the Bandit Hideout and I wanted to offer a video recap of each of them. It was a blend of success from day trades and swing trades, as well as longs and shorts which made the difference. Diversifying trading directions, timeframes and strategies has some big advantages.
I wanted to give you a show-and-tell look at the trades I took this week. It should give you a feel for not only how I managed my trades, but also the kinds of setups which have been working well of late. And for those curious about our trading style in the member area, this should give you a good indication of what a typical week looks like. Check out the trial if you’re interested in adding our ideas to your own.
(Direct video link is here for those interested in embedding it elsewhere to share).
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Get our free newsletter to keep up!
Follow @TheStockBandit
Week 5 Trades Review (Video)
February 5, 2012 at 3:20 pm
The market continued its recent run last week as the NAZ made multi-year highs while the other averages pushed toward major levels from last year. The stretched conditions for individual stocks left fewer names ready to trade, and combined with gap conditions which prevented some intended trades from firing for me, I was left with fewer trades on the week – each of them being day trades.
I wanted to give you a show-and-tell look at the trades I took this week. It should give you a feel for not only how I managed my trades, but also the kinds of setups which have been working well of late. And for those curious about our trading style in the member area, this should give you a good indication of what a typical week looks like.
Be sure to watch for the weekend index review video as well.
(Direct video link is here for those interested in embedding it elsewhere to share).
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Get our free newsletter to keep up!
Follow @TheStockBandit
Week 4 Trades Review (Video)
January 28, 2012 at 10:05 pm
The market saw mixed results last week as it primarily based, which really isolated the stocks on the move while many spent time putting in rest. For the week, I took a number of entries as both day trades and swing trades, and it was a really nice week, thanks primarily to the swing trades.
I wanted to give you a show-and-tell look at the trades I took this week. It should give you a feel for not only how I managed my trades, but also the kinds of setups which have been working well of late. And for those curious about our trading style in the member area, this should give you a good indication of what a typical week looks like.
Be sure to watch for the weekend index review video as well.
(Direct video link is here for those interested in embedding it elsewhere to share).
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Get our free newsletter to keep up!
Follow @TheStockBandit
Week 3 Trades Review (Video)
January 20, 2012 at 9:52 pm
The market gapped higher for its third consecutive Tuesday of 2012, which again helped to make the difference on the week for the indexes. The remainder of the time was marked by a considerable amount of choppy, trendless action, serving as another reminder of the importance of trade selection in this low-volatility environment.
For the week, I took a number of entries as both day trades and swing trades, and it was a really nice week. Both timeframes provided profits, which is a big advantage of having capital at work across multiple timeframes.
As I did last week, I wanted to give you a show-and-tell look at the trades I took this week. It should give you a feel for not only how I managed my trades, but also the kinds of setups which have been working well of late. And for those curious about our trading style in the member area, this should give you a good indication of what a typical week looks like. (Note: I do have 2 open swing positions which are not outlined in the video since I’m still discussing my management of them with members).
Be sure to watch for the weekend index review video as well.
(Direct video link is here for those interested in embedding it elsewhere to share).
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Get our free newsletter to keep up!
Follow @TheStockBandit
Walk Away from Your Day Trades
January 17, 2012 at 10:44 am
Intraday plays can offer exceptional opportunities for not only capturing quick moves, but also for managing risk by avoiding the overnight gap risk. It’s a timeframe which full-time traders often participate in, but one which the part-time trader often avoids due to a perceived inability to manage the trade effectively.
With today’s trading technologies available to us all, there’s no longer an excuse for missing out on moves when away from your screens. The bracket order is a well-known device for the set-it-and-forget-it type of trade, but there are aspects of it which few utilize.
I’ve realized through helping so many part-time traders who desire to capture some intraday moves that it’s common to simply think inside the box. Most of them view a bracket order as an entry, a stop, and a limit order (set at the target). That’s not at all a bad way to do it, and in fact it’s exactly how I use brackets on my swing trades.
Get Creative
For day trades and the bracket order, a little creativity can go a long way. Mix up the parameters from the usual bracket order you use and throw in a couple of different variables.
One of your stop choices is the trailing stop, which can be excellent for intraday trading. This order allows you to designate either a percentage or a price amount which the stock would have to retreat from its best level (since the trade was entered) in order to trigger a closing order. For the trader seeking to grab as much of an intraday trend as possible, this is a great option to have available – particularly in momentum names which have the ability to keep running.
Another choice which can be made is the time stop for managing exits. This order is based on the clock, so once a given time of day is reached, the next action can be triggered (sell!). Since the whole idea of a day trade is to capture intraday movement and not hold overnight, consider setting a time-triggered order to exit the position ahead of the closing bell.
Here’s what the basic order structure would look like on the thinkorswim platform with a stop buy entry if ABC clears $50, with a trailing stop of $0.50 and a time stop for a market sell late in the day (click to enlarge image):
The trailing stop is set to cancel 10 seconds before the time stop, just for the safety of not having the orders overlap (even though there should be no issue). I clicked the little gear icon beside the order on the far right side of the image above, then selected ‘Cancel order at Specified Moment’ and designated an exact time to cancel the trailing stop (click to enlarge):
The time stop is simply a market sell order which will go live at the designated time, in this case 90 seconds before the closing bell. Again, clicking the gear icon brings up this dialogue box where I simply checked ‘Submit Order at Specified Moment’ and set the time (click image to enlarge):
The bottom-line lesson is this: even as a part-time trader, you can still participate in some intraday moves. Use the technology which is at your disposal, and think outside the box a bit. It can help you manage risk effectively, and if the trade works you can lock in some solid profits - without sitting at your desk!
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Follow TheStockBandit on Twitter or get our free newsletter to keep up!
Week 2 Trades Review (Video)
January 13, 2012 at 4:38 pm
The first 5-session trading week of 2012 saw a little bit of everything. We saw another big Tuesday gap to the upside, a fair amount of profit-taking on Friday, and a lot of lateral movement in between. Overall, the indexes finished modestly higher, but the net changes on the surface sure didn’t tell the whole story.
Personally, I took a number of entries as both day trades and swing trades, and it was a really nice week. Both timeframes provided profits, but the day trades did most of the heavy lifting with it being a week where the overall market saw only limited follow through. Then again, that’s exactly why I trade multiple timeframes and share those plays with the membership at TheStockBandit.com.
As I did last week, I wanted to give you a show-and-tell look at the trades I took this week. It should give you a feel for not only how I managed my trades, but also the kinds of setups which have been working well of late. And for those curious about our trading style in the member area, this should give you a good indication of what a typical week looks like. (Note: I do have 2 open swing positions which are not outlined in the video since I’m still discussing my management of them with members).
Be sure to check out the weekend index review video as well.
(Direct video link is here for those interested in embedding it elsewhere to share).
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Follow TheStockBandit on Twitter or get our free newsletter to keep up!
Week 1 Trades Review (Video)
January 6, 2012 at 5:30 pm
The first week of trading for 2012 is now behind us, and overall it wasn’t very exciting. A big gap up on Tuesday kicked off a positive week, but after that we saw the market essentially make no progress as it spent the remainder of the week moving laterally with mixed and minor net changes.
Personally, I took a number of trades and saw mixed results as well. Some trades worked great, others failed quickly, and some didn’t go hardly anywhere. Nonetheless, it was a good week of trading because of how my trades were managed.
As a trader, I need to be able to diversify by way of different timeframes and direction (long/short) in order to keep maneuvering efficiently. So to help explain this concept and the value of doing it, here’s a video walking through the trades I took last week. (Note: I do have 2 open swing positions which are not outlined in the video since I’m still discussing my management of them with members).
(Direct video link is here for those interested in embedding it elsewhere to share).
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Follow TheStockBandit on Twitter or get our free newsletter to keep up!
