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The Power of 2%

Chat Transcripts

10/26/05 Chat Session

Ken-ST Moderator: [b]Good Morning[/b] [b]all[b]

Ken-ST Moderator: [b]Good Morning[/b] [b]James, tony[b]

tony: morning

Ken-ST Moderator: Hi stan48, just reading over your comments above

Ken-ST Moderator: Thank you for those stocks.

Ken-ST Moderator: ILSE is already a stock we watch, but I will add the other

Ken-ST Moderator: also regarding your second post, the stocks we select are not limited to just 1%

James-ST Moderator: gm all

johnboy: gm everyone

Ken-ST Moderator: We select stocks that have more potential than that. We take profits at 1% simply to show traders that it is 1. easily obtainable with our strategy, and 2. to show that by taking small conservative gains, you can have a profound impact on your portfolio. We suggest traders take profits at 1% past THEIR entry just as a good money management plan.

char: gm all

Ken-ST Moderator: [b]Good Morning[/b] [b]jb, char[b]

Ken-ST Moderator: Thank you for brining that up

stan48: ken ; one question; who decides what stocks are highlight each day? do you have a research team in the backroom?

stan48: very important: ISRG is a major stock this week to invest in

Ken-ST Moderator: The Type B are selected by reviewing the Top List and scanning through our list of stocks

stan48: i would short ISRG some time today after the twenty point move earlier...

Ken-ST Moderator: The Type A are identified by scanning through hundreds of stocks the night before

Ken-ST Moderator: For the Type B we are mainly looking for stocks gapping out of a range

stan48: Thank you....

Ken-ST Moderator: [b]Good Morning[/b] [b]kim[b]

Ken-ST Moderator: [b]Good Morning[/b] [b]stuart[b]

bulldogchip has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]bulldogchip[b]

stuart gm all

bulldogchip good morning

James-ST Moderator: bdc? hey

bulldogchip yep, it's me James

James-ST Moderator: where have you been?

James-ST Moderator: wow

trdr45 has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]trdr45[b]

bulldogchip long term assignment, good to be back

Todd-SOF Direct has entered DayTrading Chat

Todd-SOF Direct gm everyone

James-ST Moderator: hmmmm......blast from the past.......great to have you back

trdr45 HEY Ken, James ,trdrs

James-ST Moderator: hey trdr stu, stan

Ken-ST Moderator: [b]Good Morning[/b] [b]Todd[b]

gp has entered DayTrading Chat

Terry has entered DayTrading Chat

James-ST Moderator: hey gp

James-ST Moderator: hey terry

Terry gm

gp morning all

Ken-ST Moderator: [b]Good Morning[/b] [b]gp, Terry[b]

Joe has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]Joe[b]

James-ST Moderator: hey joe

Joe Good morning Ken

Joe Good morning James

jjwolfe has entered DayTrading Chat

jjwolfe GM All

James-ST Moderator: hey wolfe

Ken-ST Moderator: [b]Good Morning[/b] [b]jjwolfe[b]

Sooner has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]Sooner[b]

James-ST Moderator: hey sooner

Sooner Good Morning all

tj has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]tj[b]

hapeko has entered DayTrading Chat

tj gm

James-ST Moderator: hey tj, hapeko

joecgoodman has entered DayTrading Chat

oobi has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]hapeko, joec, ahk[b]

joecgoodman gm

James-ST Moderator: hey joec, oobi

oobi has logged out

joecgoodman James, have you seen MI-5?

joecgoodman ...you're probably getting ready for the day...we can talk movies later.

James-ST Moderator: lunch

joecgoodman SIMG might be one to watch today.

joecgoodman and AMZN, which I see is already on your list. Cool!

oobi has entered DayTrading Chat

oobi flex under 10.....though that wasn't kosher

ak has entered DayTrading Chat

ak gm all

tms has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]ak, tms[b]

James-ST Moderator: todd, flex shortable?

Violet has entered DayTrading Chat

James-ST Moderator: hey ak, tms, violet

pvg6799 has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]Violet, pvg[b]

Violet gm guys

pvg6799 gm

steveg has entered DayTrading Chat

James-ST Moderator: hey steveg, pvg

Ken-ST Moderator: [b]Good Morning[/b] [b]steveg[b]

steveg hihi

James-ST Moderator: oobi, right at the fringe, we will leave on

jy has entered DayTrading Chat

Todd-SOF Direct FLEX it shortable

Ken-ST Moderator: [b]Good Morning[/b] [b]jy[b]

jy gm

oobi imcl might open oabove the target, then what?

Ken-ST Moderator: Cancel

jy yes. FLEX has short available

James-ST Moderator: hey jy

Ken-ST Moderator: I will post to hold off in a sec

Eagle has logged out

James-ST Moderator: wow, seems like we just shorted PFCB for a big profit..........ah July 18th

Alaska has entered DayTrading Chat

Alaska hi all

Ken-ST Moderator: [b]Good Morning[/b] [b]Alaska[b]

James-ST Moderator: ah july 27th, long

James-ST Moderator: hey alaska

gwoody has entered DayTrading Chat

James-ST Moderator: hey woody

Ken-ST Moderator: [b]Good Morning[/b] [b]gwoody[b]

oobi has logged out

jy james, remember you said you didn't like PFCB's Chinese food anyway.

oobi has entered DayTrading Chat

James-ST Moderator: yep......actually not them in particular, Chinese food in general

gwoody what's up people

Ken-ST Moderator: Market Assessment:

Ken-ST Moderator: Daily chart: above the 5 day EMA, stochastics in uptrend

Ken-ST Moderator: Hourly Chart: uptrend

Ken-ST Moderator: 5 min chart: neutral

Hunter has entered DayTrading Chat

Ken-ST Moderator: Overall there is an uptrending bias to the market

ayala has entered DayTrading Chat

James-ST Moderator: hey hunter, ayala

Ken-ST Moderator: Futures are currently down 3 points

Ken-ST Moderator: [b]Good Morning[/b] [b]ayala, Hunter[b]

Vanja has entered DayTrading Chat

ayala gm

Hunter : gm guys

James-ST Moderator: hey vanja

Vanja good morning all

Ken-ST Moderator: [b]Good Morning[/b] [b]Vanja[b]

Eagle has entered DayTrading Chat

Ken-ST Moderator: wb Eagle

James-ST Moderator: ISRG......incredible gap up

Ken-ST Moderator

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]IMCL34.59[/b]

alex has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]alex[b]

alex good morning all

James-ST Moderator: Type A actually

Ken-ST Moderator: [b]TYPE A Trade (Breakout). Consider Buy[/b] [b]IMCL 34.59[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]FFIV 48.01[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]PFCB 45.69[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]ISRG 90.51[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]INSP 25.16[/b]

Ken-ST Moderator: INSP is close

Ken-ST Moderator: FFIV is close

Ken-ST Moderator

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]INSP 25.16[/b]

Ken-ST Moderator

James-ST Moderator

Ken-ST Moderator

James-ST Moderator

Ken-ST Moderator

James-ST Moderator

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]FFIV 48.01[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]INSP [/b]

Ken-ST Moderator

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]FFIV[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SCHS 33.74[/b]

Ken-ST Moderator: FFIV nice

Ken-ST Moderator: INSP as well

Ken-ST Moderator: Holding off BSTE lod

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]AMZN 40.05[/b]

Ken-ST Moderator

James-ST Moderator

Ken-ST Moderator

James-ST Moderator

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]schs 33.74[/b]

gp has logged out

Ken-ST Moderator: ISRG is close

gp has entered DayTrading Chat

Ken-ST Moderator: wb

James-ST Moderator

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]FLEX 9.24[/b]

Ken-ST Moderator: gang, FYI, the Swing Trading alert has not triggered yet

James-ST Moderator: FFIV new HOD

James-ST Moderator: FLEX close

James-ST Moderator: BSTE, ISRG signs of fading the gap, waiting for consolidation for trigger

joecgoodman .

Ken-ST Moderator

Ken-ST Moderator: [b]TYPE A Trade (Breakout). Consider Buy[/b] [b]MSTR 75.41[/b]

bearrally has entered DayTrading Chat

Ken-ST Moderator: [b]Good Morning[/b] [b]bear[b]

James-ST Moderator: hey bear

ayala has logged out

bearrally morning

James-ST Moderator: FLEX close

Ken-ST Moderator

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]FLEX 9.24[/b]

tony has logged out

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Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]FLEX 9.36[/b]

gwoody has logged out

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Ken-ST Moderator: wb

kraskew thx

oobi schs stop?

Ken-ST Moderator: 33.97

bearrally why is market up?

bearrally was expecting down trend

joecgoodman we're having a bear rally

johnboy irrational exuberance

Hunter : anybody else gettin a "route disabled" message when using arca ?

johnboy yes Hunter, but my autx seems to work with its terrible fills

Hunter : yeah same with ISLD !

Ken-ST Moderator: You have INCA available?

Ken-ST Moderator: or BRUT

Hunter : don't know didn't try them

gp has logged out

oobi wouls schs go log if triggerred

oobi long

Ken-ST Moderator

Hunter : or are you talking about brut the after shave ! lol

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]AMZN 41.06[/b]

Ken-ST Moderator: lol

Ken-ST Moderator: ISRG is close

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]ISRG 9.51[/b]

Ken-ST Moderator

James-ST Moderator

Ken-ST Moderator

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]ISRG 90.51[/b]

Ken-ST Moderator: AMZN close

James-ST Moderator

Ken-ST Moderator

James-ST Moderator

Ken-ST Moderator

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]AMZN 41.06[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]ISRG[/b]

bearrally i was reading some analys yesterday and bidu game is over

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BSTE 56.37[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]AMZN 40.48[/b]

bearrally bot hod

James-ST Moderator

Ken-ST Moderator

James-ST Moderator

James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]FLEX[/b]

Ken-ST Moderator: ISRG new hod

James-ST Moderator: ISRG new HOD

Ken-ST Moderator: FLEX new lod

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]INSP 24.58[/b]

Ken-ST Moderator: those on the Swing Trading alerts, todays alert has officially triggered

johnboy off to bed, have a profitable day everyone

johnboy has left the room

James-ST Moderator: ISRG new HOD

joecgoodman re-enter ISRG on new HOD?

James-ST Moderator: Market new HOD

Chris has entered DayTrading Chat

James-ST Moderator: Not part of strategy joex

James-ST Moderator: hey chris

joecgoodman OK

Chris Hey

Ken-ST Moderator

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]SCHS[/b]

joecgoodman I thought you got stopped out of FLEX?

Ken-ST Moderator: no FLEX hit target

Ken-ST Moderator: stop was set at 9.36

joecgoodman Right. You're so right. Sorry.

joecgoodman I got stopped out. :-) Stops set too tight on that one.

James-ST Moderator: Market new HOD

Ken-ST Moderator: np

Ken-ST Moderator: sorry to hear that

joecgoodman not your fault, obviously, but thanks

joecgoodman I'm up 1.40 on the day so far.

Ken-ST Moderator: man that is awesome

joecgoodman and none of those trades were mine

joecgoodman all you, man, all you

kraskew where can i find out more info about swing trade alerts?

joecgoodman plus I have .50+ running in MSTR right now

Ken-ST Moderator: Lets move stop to entry on that

joecgoodman S&P broke through 1200

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop to entry[/b] [b]MSTR [/b]

joecgoodman already did, bro, thx

joecgoodman I have entry plus a dime on it

Ken-ST Moderator: nice

joecgoodman but anyone can scroll up and see that I set stops too tight sometimes :-)

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]IMCL 34.43[/b]

Ken-ST Moderator: INSP is close

Ken-ST Moderator

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]INSP 24.58[/b]

joecgoodman order filled short on INSP

joecgoodman guys, where should I set my initial stop on INSP?

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 24.76[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]TYPE A Trade (Breakout). Consider Buy[/b] [b]CMVT 24.92[/b]

oobi lotsa fine action boyz be quick or losea

Ken-ST Moderator: We are playing it tight on INSP. It is fighting the overall market trend and it has made a nice move toward target

joecgoodman 24.48 for a stop on CMVT???

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]CMVT 24.54[/b]

Ken-ST Moderator

James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]INSP [/b]

gp has entered DayTrading Chat

stuart You guys are the real deal.

stuart Great job guys

Ken-ST Moderator: wtg stuart

jy GJ james and Ken. TY

Ken-ST Moderator: Would like to see some revenge on IMCL from yesterday

trdr45 hey its never to late for revenge .....

trdr45 lol

Ken-ST Moderator: yup

tony has logged out

jy GOOG new all time high

jy Hope Bear didn't do any put

bearrally got some put there but very small jy

bearrally :(

oobi is amzn open?

James-ST Moderator: YES

jy baer, didn't know you're here. what's the strike price and cycle of the put ?

tony has entered DayTrading Chat

oobi amzn stop?

bearrally 330 nov

Ken-ST Moderator: 40.48

Ken-ST Moderator: wb Tony

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]AMZN 40.59[/b]

jy bear, nov. 330 put - how much you paid for them ?

bearrally 5.5

bearrally ouch

Ken-ST Moderator: [b]5 Minute EMA Trend[/b] [b]UP[/b] [b]Stochastics Trend[/b] [b]UP[/b]

Ken-ST Moderator: [b]Intraday Trend is Sideways to Up[/b]

Ken-ST Moderator: however stoch are overbought

Ken-ST Moderator: market now testing the 5 ema

bearrally load up on cme put

bearrally earlier

jy it's at $3 now, bear. good luck wiht it. GOOG might go down but I don't know if it'd go under 330.

bearrally have order to avg down at 3

bearrally have not got few

bearrally was looking for little correction

bearrally but did'nt

bearrally up goog with the sell goog 320

bearrally so still ok

jy bear, great.

Ken-ST Moderator

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]AMZN[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]MSTR Breakeven[/b]

bearrally jy, just reward myself with the 750li

bearrally yesterday

jy that's an awesome car, bear.

bearrally lol

Ken-ST Moderator: good for you bear, congrats

James-ST Moderator: Nice bear

Hunter : beats my giant size snickers bar ! lol

James-ST Moderator: 100 grand car?

Ken-ST Moderator: [b]Intraday Trend is Sideways to Down[/b]

joecgoodman has logged out

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ISRG 88.22[/b]

bearrally james, about 98k

bearrally i mean 89k

James-ST Moderator: Nice, profit from CME puts earlier eh?

bearrally from bot

bearrally cme put didn't make much

bearrally lol, hunter

James-ST Moderator: [img id=em-3]

bearrally cme is a tough play

Vanja has logged out

Ken-ST Moderator: Market pulled support near the 20 ema area

joecgoodman has entered DayTrading Chat

James-ST Moderator: Market showing strength, threatening HOD

Ken-ST Moderator: wb

James-ST Moderator: Market new HOD

Sooner has logged out

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kraskew has entered DayTrading Chat

joecgoodman eBAy 5 min. chart is forming a nice ascending triangle on this bullish day

joecgoodman two cents away from new hod

Ken-ST Moderator: It is still trading within the p/d range

trdr45 P/d?

Ken-ST Moderator: Previous Day's

trdr45 ah thnx

Ken-ST Moderator: becareful going long, the market is overbought going into the turn time

joecgoodman do we look for breakouts/breakdowns that go above/below yesterday's high/low?

Ken-ST Moderator: yes

Ken-ST Moderator: but also you want it trading in an area not seen in the recent past

Ken-ST Moderator: as much as possible

trdr45 overbought juging by the s and ps stochastics?

Ken-ST Moderator: yes trdr

trdr45 ok

Eagle has logged out

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steveg any raise on imcl stop?

Ken-ST Moderator: [b]Good Morning[/b] [b]jfagan[b]

Ken-ST Moderator: It is relatively tight, we will keep at lod

Ken-ST Moderator: however

Ken-ST Moderator: it has made a nice move toward taget

Ken-ST Moderator: target

Ken-ST Moderator: Lets move stop to entry

steveg 10-4

Ken-ST Moderator: It is a little tight for a volatile stock

Ken-ST Moderator: but lets be conservative

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]IMCL[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop to entry[/b] [b]IMCL[/b]

bearrally see you guys in a bit

bearrally has logged out

Ken-ST Moderator

Ken-ST Moderator: Cancel all Type B alerts

joecgoodman has logged out

Eagle has entered DayTrading Chat

Ken-ST Moderator: wb

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop to entry[/b] [b]CMVT[/b]

joecgoodman has entered DayTrading Chat

Ken-ST Moderator: wb

Ken-ST Moderator: any questions?

joecgoodman I canceled my subscription to the WSJ today.

Ken-ST Moderator: had enough of it?

joecgoodman Yep. When they mentioned today that an expert called a market bottom yesterday, they only referred to me as "an unnamed source"

Ken-ST Moderator: lmao

Ken-ST Moderator: hahaha

Ken-ST Moderator

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]CMVT Breakeven[/b]

Ken-ST Moderator: heart breaker on CMVT....

Ken-ST Moderator: however

Ken-ST Moderator: we are into the turn time and the market is overbought

Ken-ST Moderator: Stock made a nice move over .5%

Ken-ST Moderator: Don't want a winner turn into a loser

joecgoodman I gotta say, you managed the CMVT very, very well. I say the because

joecgoodman I got stopped out at 24.91 almost an hour ago with a slight loss.

joecgoodman You gave it the appropriate amount of room.

Ken-ST Moderator: yes, stops are the toughest part of any trading strategy

joecgoodman But hey, if it ain't gonna go, nothing you can do about it. You gave yourself a chance and it didn't cost you a dime.

Ken-ST Moderator: There is a fine line between giving a stock enough room to move and letting it get out of hand

Ken-ST Moderator: It can make or break a successful strategy

jfagan has logged out

James-ST Moderator: FFIV nice runner

Ken-ST Moderator: The key is to be consistent

joecgoodman you're still up .15 on IMCL right now, too. I hit the button too late to get in on that.

joecgoodman does anyone in here use TradeStation?

Ken-ST Moderator: Our Market Assessment Video guides you on what to look for in stop levels

joecgoodman did you do the video, Ken?

jy SNDK made new 52 hod again @58.48

Ken-ST Moderator: The script, not the voice

James-ST Moderator: are you long in that jy?

kim Was Carson the voice?

Ken-ST Moderator: y

jy long at 57.36.

jy set stop at 57.98

kim Can't belive he's never checked back

James-ST Moderator: Market new HOD

Ken-ST Moderator: nice jy

Ken-ST Moderator: that was a valid type a setup

jy ty ken.

tj has logged out

steveg imcl just failed 3rd attempt at upside breakout- is this a good exit point? thx

James-ST Moderator: Catch everyone tomorrow, need to attend a meeting.

Ken-ST Moderator: It is stillin trend

James-ST Moderator has left the room

steveg ok ty

Sooner has entered DayTrading Chat

joecgoodman steveg, if I can put in my 1 1/2 cents on IMCL....all breakouts from an ascending triangle are characterized by multiple failed attempts at upside breakout, but the lows keep getting higher (I'm not saying we have an ascending triangle on this one...I don't think we do....just making the observation that failed attempts can be a good thing when the trend is still intact as Ken succinctly pointed out)

Ken-ST Moderator: wb Sooner

Sooner Thanks. Looking forward to the afternoon!

Ken-ST Moderator: Nicely put joec

steveg riight on thx j

Ken-ST Moderator: Scanning for Type C short setups

joecgoodman I'm shocked that no one in this room is using TradeStation. I wanted to ask if anyone is seeing anomolies in their order bar or refresh speed.

joecgoodman TS Florida office close due to Wilma....they're operating out of a Texas office.

joecgoodman I'm wondering if my issues are universal or just my machine.

stuart I hear their software is good but the brokerage side is not up to par

Ken-ST Moderator: any questions so far?

joecgoodman I'm extremely happy with TS brokerage....lightning fast fills.....penny per share commish up to 500 shares, then only 6/10 of a penny per share.

joecgoodman I have a dumb Q Ken.

Ken-ST Moderator: go ahead joec

joecgoodman I think I read on your site that you recommend trading even dollar amounts rather than even share amounts, right?

Ken-ST Moderator: correct

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joecgoodman Do you have an opinion on how much a trader should place per trade in order to average X per day in profits?

bulldogchip has entered DayTrading Chat

joecgoodman in this room, of course, based on past results

Ken-ST Moderator: when you say X per day are you referring to dollar amounts?

Ken-ST Moderator: or percentage amount

joecgoodman I'm calling this a dumb question because one could deduce the answer from your stats.

joecgoodman Yes, dollar amount. Say, $500 or $1000 profit per day.

Ken-ST Moderator: It all depends on your tolerance for risk and the amount of capital you have

joecgoodman $100k capital

Ken-ST Moderator: a good goal is 1% - 2% a day

Ken-ST Moderator: imo

joecgoodman and you seem to achieve that with notable consistency. Is that a fair statement?

joecgoodman Actually, I think the average is 13.5% per month right now. Is that right?

Ken-ST Moderator: 38% per month

Ken-ST Moderator: but you have to consider that a trader may not get into all those trades.

joecgoodman okay, well, if you want to quibble :-)

Ken-ST Moderator: But they may also choose to ride out gains longer

Ken-ST Moderator: lol

joecgoodman yes, I just rechecked your performance...the 13.5 is points, the percentage is indeed 38!!!!!!!!!!!!!!!!!

Ken-ST Moderator: The thing is you only need 1 or two good trades a day

Ken-ST Moderator: Many day traders overtrade in my opinion

Ken-ST Moderator: [b]Intraday Trend is Sideways to Down[/b]

joecgoodman So if one had consistently traded $10,000 per trade in the past, they should have averaged about $3,800/per month (insert boiler plate disclaimers here)

Ken-ST Moderator: you can look at it that way but there are always other factors to consider

joecgoodman Right. Missed trades. Taking profits or losses at different points, etc.

Ken-ST Moderator: At the highest risk, a trader could dedicate 100% of his cash portfolio to 1 trade

Ken-ST Moderator: and still have enough to into 4 simultaneous positions

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Ken-ST Moderator: They will also have real return of 1% on their port. on each succssful trade

Ken-ST Moderator: but that is extremely aggressive

Ken-ST Moderator: and I would not suggest a trader do that until he is extremely experienced

Ken-ST Moderator: welcome cleon

Ken-ST Moderator: good to have you

Ken-ST Moderator: The thing is you want to find a level of comfort that will allow you to keep all emotions out of your trading

Ken-ST Moderator: so that you do not thing of the monetary consequence of the trade

Ken-ST Moderator: but rather the mechanical part of it

joecgoodman Great perspective and well put.

Ken-ST Moderator: It takes time to work up to an aggressive level

joecgoodman I can see that (takes time to work up)

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Ken-ST Moderator: Find a good a level for you, then as you get accustomed to that level, slowly increase your capital to another level

joecgoodman I'm trading $10k on a $100k account, and really started to sweat today when I say $10 per penny move occurring in FLEX.

joecgoodman say = saw

Ken-ST Moderator: market now below the 20 ema

joecgoodman yes

steveg In you guys opinion, Whats the best way to judge intraday volatility to set stops?

Ken-ST Moderator: The day range

Ken-ST Moderator

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]IMCL Breakeven[/b]

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steveg Do you take past performance into account at all (re:stops)?- thx

Ken-ST Moderator: What do you mean by past performance?

cleon thanks for the welcome ken - just catching up on the entire day's thread - is imcl still open pos?

cleon nevermind

cleon just caught up :)

Ken-ST Moderator: We look at three different levels for stops

Ken-ST Moderator: and we are always, as much as possible, looking for two factors to set our stops

Ken-ST Moderator: MA and support/resistance level

joecgoodman always the 20 ema for stops?

Ken-ST Moderator: not always

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cleon quick question - defintions on Type A, Type B, etc. on web site?

Ken-ST Moderator: Its a good EMA to use

Ken-ST Moderator: but depending on the market trends or where the stock is in relation to the target, we may use the 5 ema

joecgoodman ok

Ken-ST Moderator: cleon: the Type A are daily breakouts that we identify based on the stocks daily chart. These prices are usually identified before the start of the day

Ken-ST Moderator: Type B: gapping stocks

cleon k - thx

Ken-ST Moderator: Type C: bottom / top calls. Attempts to buy into down stocks are short stocks that are up substantially

Ken-ST Moderator: RIMM new trend lows

Ken-ST Moderator: bastard pos

bulldogchip lol

Ken-ST Moderator: the stock stopped us out twice yesterday

cleon lmt or mkt on these fast movers?

kim Ken, so where's a good stop for FFIV at the 20ema?

joecgoodman I know what a bastard is. But what's a pos?.....nevermind....figured it out as I typed! Now LMAO.

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Ken-ST Moderator: wb tj

Ken-ST Moderator: kim, what is your entry

Ken-ST Moderator: "

Ken-ST Moderator: ?

tj thx

kim 49.21

Ken-ST Moderator: nice

joecgoodman yes, kudos Kim!

Ken-ST Moderator: the 20 ema is definitely one to watch

Ken-ST Moderator: but the recent dip to 49.65 is a nice area

Ken-ST Moderator: being that you are nicely in the money, I'm not sure I would take a chance at the 20 ema should the support break at 49.65

Ken-ST Moderator: that would mean risking all your profits

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Ken-ST Moderator: wb gwoody

kim I'll try the 49.64 Thanks! just wanted to see how you think

Ken-ST Moderator: As the 20 EMA creeps up you may re-evaluate at that point

Ken-ST Moderator: also check the market at that time

gwoody what's up trying to get the hang of this

Ken-ST Moderator: cool

Ken-ST Moderator: If you need to paper trade, ask Todd for a real time simulator

Ken-ST Moderator: he is in this room to help

Ken-ST Moderator: with direct access trading

Ken-ST Moderator: It is great for getting used to the executions

pvg6799 can you send a test ping?

gwoody what's up todd can you help me the real time trader

Todd-SOF Direct Sure. I will engage you in a private chat.

Ken-ST Moderator: cleon : limit or market is up to the trader

Ken-ST Moderator: depending on their tolerance for risk

Ken-ST Moderator: I like market orders

Todd-SOF Direct Anyone interested can chat with me, or email info@sofdirect.com. Just mention the simulator.

Ken-ST Moderator: If I pay up a little for the entry, I just try and make it up on the exit

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Alaska do you like market orders for entry and exit, tell us a little more about ordering types as pertained to what we are doing Ken

Ken-ST Moderator: Exits, I like limit

cleon ok - thx again

Ken-ST Moderator: Most of the time I am selling into strength

Ken-ST Moderator: or covering into the steep downtrend

Ken-ST Moderator: So I have my hotkeys ready and when I see good momentum in my favor, I throw out an order to sell at the offer, or buy at the bid

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Ken-ST Moderator: If I am getting stopped out, I scream obscenities at my computer and send a market order to exit

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Alaska thx

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Ken-ST Moderator: Take a look at your SPX chart gang

Ken-ST Moderator: Not the resistance noted at the 20 ema

Ken-ST Moderator: very powerful MAs to monitor intraday

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cleon 20-day? or period?

Ken-ST Moderator: 20 period on the 5 min chart

Ken-ST Moderator: We always have a 5 min of the SPX up

Ken-ST Moderator: with slow stochastics 14,3

Ken-ST Moderator: and 3 moving averages 5, 20, 50 EMA

Ken-ST Moderator: to keep a good pulse on the market

Ken-ST Moderator: we are slowly rolling out of lunch gang

Ken-ST Moderator: we will be opening up long alerts early, at 1:00 pm est

Ken-ST Moderator: with markets oversold as it is going into the turn time

cleon got it

joecgoodman when you say "long alerts" are you talking about Type B or C?

Ken-ST Moderator: B

joecgoodman and you're looking for longs because it's a bullish day and we have a lunchtime pullback?

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]ISRG 92.65[/b]

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Ken-ST Moderator: Looking for long right now because we are oversold on the market

Ken-ST Moderator: going into a turn time

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Ken-ST Moderator: [b]5 Minute EMA Trend[/b] [b]UP[/b] [b]Stochastics Trend[/b] [b]UP[/b]

Ken-ST Moderator: [b]Intraday Trend is Sideways to Up[/b]

Alaska With such a huge profit already on the table for ISRG stock holders now, isn't this stock likely to break down a few dollars? It set a new high at 12:42 and retreated then.

Ken-ST Moderator: It's hard to rationalize that way

Ken-ST Moderator: As you know stocks rarely make perfect sense

Alaska I think 75% of the volume is held with a 20% profit if I'm looking at the charts right. But, OK, time will tell.

Ken-ST Moderator: If it triggers at a new hod, it will bring in new buyers. Perhaps shorts covering

Alaska understood, thx

Ken-ST Moderator: RIMM pos

joecgoodman pos = profitable on short

Ken-ST Moderator: yes

Ken-ST Moderator: lol

joecgoodman ...as a back-up in case someone complains. :-)

jy RIMM could have been a handsome swingtrade

Ken-ST Moderator: The overall tecnical pattern on RIMM is very bearish

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]FFIV 50.51[/b]

jy RIMM broken 52 week low

kim I hope ffiv hits target! lol

Ken-ST Moderator: yup, that would make you doubley handsome

jy kim are you still long on FFIV ?

kim yes luckly

Ken-ST Moderator: FFIV is close

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Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]FFIV 50.51[/b]

jy gj kim

Ken-ST Moderator

Ken-ST Moderator: Cancel FFIV alert

Ken-ST Moderator

Ken-ST Moderator: Cancel FFIV alert

Ken-ST Moderator: There is resistance noted above

jy why ?

Ken-ST Moderator: 51.25 area

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Ken-ST Moderator: Aside from that the setup is there

Ken-ST Moderator: It may still pan out be we will be conservative

Ken-ST Moderator: wb ak

jy The market seems to be backing down a little.

Ken-ST Moderator: wow RIMM

Alaska wow

jy RIMM $2 drop in a little dive

Ken-ST Moderator: must be news

Ken-ST Moderator: danger

ak ty

jy yes. RIMM halted again.

Alaska judge denied emergency stay request

joecgoodman I'm glad we live in a free market. (tongue in cheek)

Ken-ST Moderator: hehe really

joecgoodman ebay breaking down?

joecgoodman still in yesterday's range....just remembered

Ken-ST Moderator: yes

Ken-ST Moderator: choppy

Ken-ST Moderator: makes trading very hard

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Ken-ST Moderator: wb Vanja

Vanja thanx

Ken-ST Moderator: Hourly chart still below recent resistanc area

joecgoodman today just went from green to red, huh?

joecgoodman daily sitting right smack dab on the 20 ema

Ken-ST Moderator: Yes

Ken-ST Moderator: Very pivotal point for the spx

Chris NYSE tick is very negative

Ken-ST Moderator: Tight stop noted on AMZN

Ken-ST Moderator

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]AMZN 40.05[/b]

Ken-ST Moderator

Violet has left the room

Ken-ST Moderator

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]AMZN 40.05[/b]

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]AMZN 40.39[/b]

Alaska filling its gap from late july now (amzn)

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Ken-ST Moderator: Kim...just became a tad bit more handsome

jy FFIV ne whod

jy new hod

joecgoodman thx, Alaska, nice observation

kim out at 50.96

jy FFIV just made 1% from 50.51

jy Jim Hadsome

jy hnadsome on FFIV

kim Thanks for that stop worked just right Ken

Ken-ST Moderator: nice

Ken-ST Moderator: gj gang

Ken-ST Moderator: gang, I have to step away for a short while

Ken-ST Moderator: brb

Ken-ST Moderator: ISRG is the only thing close

Ken-ST Moderator: and you have the trade plan for AMZN

Ken-ST Moderator: Initial stop on ISRG if triggered is 91.06

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jy The Supreme Court has denied Research In Motion Ltd.'s (RIMM) (RIM) request for a stay in the Blackberry maker's patent dispute with NTP Inc, the Wall Street Journal reported on its Web site Wednesday

jy The company may be forced to suspend sales of its market-leading device unless it can settle with NTP before an expected injunction is enforced. Shares of RIM fell 6.4% to $53.74 before being halted

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jy RIMM has $1.2B in cash - it might all go to NTP.

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bearrally is bk coming for rimm?

bearrally just go to 10 bucks and i'll be ok

bearrally didn't they settle back sometime for $450 mil?

joecgoodman bearrally, are you short RIMM?

jy tentively. but they disagree and RIMM didn't want to pay and NTP wanted more, bear. good for you.

bearrally 100 jan put

jy stirk eprice

bearrally i am sorry

bearrally leap it jan 60 100 contracts

bearrally a while back

jy it might get you $100K or more. GJ

bearrally i was hoping for 500k

bearrally rimm owed me 210k

jy lol could happen

bearrally need some dividends

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bearrally lol

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bearrally lost my shirt off that scam

bearrally before

jy RIMM $40 easy

jy or less than $10

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joecgoodman bearrally, how'd you lose 210k in RIMM?

Hunter : hey Ken did we just miss BSTE & PFCB ?

joecgoodman Ken had to step away

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Hunter : or did you change entries ?

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joecgoodman all Type B alerts were canceled prior to lunch

bearrally joe, never got a winning trade on rimm

Hunter : oh, ok thx

Ken-ST Moderator: back

bearrally long or short, i got cream really bad on that scam

Hunter : lunch is over at 11:30 ?

bearrally 10;30

Hunter : yup

joecgoodman wow, bearrally, that's quite a statement...never got a winning trade on them. And you estimate you lost $210k over time trading RIMM?

bearrally nope, i got record, lol

Hunter : hey Ken read up a little will ya ?

bearrally pay back is a b*tch

joecgoodman lol

Ken-ST Moderator: Hunter BSTE was solid

Ken-ST Moderator: I missed

Ken-ST Moderator: PFCB came down too fast

Ken-ST Moderator: too far

Ken-ST Moderator: We would not have gone on that initial trigger

Hunter : ok man just half a spanking then ! lol

Ken-ST Moderator: lol

bulldogchip since BSTE has not hit what would have been the target, is it now a valid entry?

bearrally jy, took your advised got out of goog put a 2.5 losses

Ken-ST Moderator: The ideal breakout price was at 56.37

bulldogchip ahh, my bad, i thought it was higher

jy bear, what is option at now.?

joecgoodman FFIV right at that 51.25 resistance you talked about Ken (from July 19)

Ken-ST Moderator: Yes that general area may see some pressure

jy FFIV wow

jy ir broke 51.25 at 51.33

Ken-ST Moderator: Stochastics up, market above the 5 ema

bearrally 2.7

jy bear, who knows GOOG could back down tomorrow. but....

bearrally any good overnight trade jy?

bearrally jy, got really chicken lately since i started to hang out here

jy bear, I'm watching GLW, earnings after market close. stock has been coming down recently. I think they'll do well.

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bearrally thanks

bulldogchip FFIV

Ken-ST Moderator: Rocket

Ken-ST Moderator: Choppy market

Ken-ST Moderator: FLEX, nice trend going on above its 20 ema

Ken-ST Moderator: For those who are new, unless specified otherwise, we are always referring to the 5 min chart

Ken-ST Moderator: nice accelerated move at the top of that FFIV trend

steveg spx approaching 200d ma

bearrally jy, how are you going to make money on those option?

Ken-ST Moderator: SPX overall is wedged between the downtrending 20 and 50 ema

jy what option, bear ?

Ken-ST Moderator: bear when is CME reporting earnings?

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Ken-ST Moderator: AMZN new lod

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Ken-ST Moderator: wb

bearrally glw

joecgoodman AMZN stop...move?

bearrally ken, reported yesterday morning

bearrally beat by pennies

Ken-ST Moderator

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]AMZN 40.27[/b]

bearrally setting up for institutional exit before joining refco

bearrally lol

joecgoodman bingo...hit it to the penny. penny higher than recent swing high?

Ken-ST Moderator: yes

Ken-ST Moderator: a bit longer and I will move to 40.16

Ken-ST Moderator: The 20 EMA is right there. I want to wait until the 20 EMA is well below the area before moving down

jy GLW will not be like GOOG with a hugh up or down. I'm betting a better than expected earnings with some calls. using part of the GOOG profit. If it doesn't work out, I'm playing wiht their money.

bearrally got a good one for you

jy o.k. bear