Trading Platform

2018-06-15 | Allison Ostrander

Simpler Summary

Unlike in the 20s or even the 80s, we don’t need to be in New York to trade anymore. Now traders are able to use their computers and trade with an online brokerage platform. The benefit, of course, is as long as you have an internet connection and a computer you can trade from anywhere in the world. Some brokerage platforms have even stepped up their game to include trading applications for the platform. Now as long as you have a smartphone, you can trade anywhere from the golf course to the beach, making money along the way. One hiccup that comes with this, as well as any technology, is sometimes you may experience platform crashes or freezes due to any number of reasons. If this has happened to you, then you know the frustration and hair pulling that can occur. This can be even more heart wrenching if you have trades that need to be taken off, or if it happens the day of expiration. Here are a few workarounds for this issue, so that you never have to stop trading due to technical issues:

 

  1. You can always Call in. Most brokerage platforms have a number you can call in to place orders manually through them. This may cost you a bit more in commission depending on their guidelines, so make sure to ask before they execute the order. The downfall to this solution is if the technical issue is a platform wide issue. If this is the case then you may be on hold for a while trying to connect to someone.
  2. Download the Trading App. If your brokerage platform has a trading app, sometimes this can be the best work around if the platform on the computer is running slow or not working. Make sure to be familiar with the trading app before executing an order, as sometimes the appearance may be different between phone and computer.
  3. Have a Second Brokerage platform. In my years of trading I’ve had accounts across multiple platforms. I’ve found this to be the best solution to technical issues on platforms. If one trading platform is down, I’ll immediately flip to the other so I don’t miss out on any trading opportunities I’m looking to take.

 

So if you’ve found yourself stuck with technical issues and looking for a solution, I’d recommend one, if not a combination, of the three above. Staying connected to your trading account is a necessity in today’s market, and having multiple options available helps set you up for success. As the Girl Scout Motto states “Always be prepared.” So don’t find yourself as a fish out of water if your platform runs into issues. Instead jump back into the water with one of the solutions so you never fall behind on your trading.


Simpler Sentiment

David — Patterns still suggest that the S&P 500 is heading back above its prior all-time high from January.  I remain cautiously optimistic that the move is already in progress from a swing low on May 3rd.  Today, the index has come down to revisit the Voodoo skyline near 2761 and has held (at least so far).  As long as it can maintain this level, I’ll continue to look up immediately. Cleanly below the level and we may need to look for support lower before eying upside targets again.

Bruce — I continue to be bullish. I definitely want to play the market to the upside and use any weakness or pullbacks as buying opportunities. That being said, I am more concerned about the tarrif negotiations weighing on the market and causing a limited downside move. With this in mind, I am playing the upside a bit more cautiously and keeping smaller risk until we get clarity on the trade negotiations. 

Henry —  The past several weeks have really been a great run for the majority of our bullish setups. Expiration Friday saw a bit more volatility than I was playing for, but it’s the uncertainty in trading that keeps things interesting. As we stand now I don’t see myself being short this market, but I am trying to be more selective with names I get into long. SHAK has been a solid performer and is the kind of action I like to have in this market. I don’t have to worry about what the indexes are doing as much there, and the high short interest has been great – watching the stock steadily squeeze out weak bears. I also feel like I see a lot of charts like PYPL. The weekly Squeeze looks excellent, but we may not go straight up, so be willing to scale into positions so you don’t have to take a stop if/when the stock pulls back.

Carolyn —  All the moving averages on my daily charts still tell me that buying the dips is still the way to go in the bigger picture.  They also tell me we are currently closer to resistance and have timing for a possible intermediate high. So what that tells me is to continue to be a cautious bull and use tight stops if you are currently trading the long side up at these extended levels.  Of course I have specific levels in the trading room during the day. 🙂

Danielle —  Going long into the weekend: INTC (run into July earnings), MU (run into next weeks earnings), NKE (run into earnings), MLNX (daily squeeze) SWKS (daily and 195 min squeeze plus run into earnings). Hesitant here with extended indexes but small size all around. Control that risk!

Sam — This week saw news from the SEC declaring that Ethereum is likely not a security. The market rallied on this news as the implications are that 1) the SEC will not be involved in ICO or trading and 2) that classifying it more as a commodity than security will allow products to be added to the CBOE.

The entire market saw about a 10% move on the news. Our view is that this is not enough to change the daily downtrend in a significant way. The longer term price structure says that Bitcoin is likely to test the $4300 level before potentially reversing the daily trend.

Short term, the opportunities for trading are great as the swings in crypto are much wider than in traditional markets and this benefits traders.

Dainelle Gum says:

See the original setup HERE

Expert: Danielle Gum

Setup: Setup on TTWO

Update from Danielle: The trade of the week in TTWO worked out perfectly. The gaming sector is hot, and I was able to take off both the put credit spread and call debit spread for nice profits by the end of the week.

 

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