Stocks & Commodities V. 25:3 (62): Q&A by Don Bright
Product Description
Stocks & Commodities V. 25:3 (62): Q&A by Don Bright
SINCE YOU ASKED
Confused about some aspect of trading? Professional trader Don Bright of Bright Trading (www.stocktrading.com), an equity trading corporation, answers a few of your questions. To submit a question, post your question to our website at http:// Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S&C.
SWEEPS ON THE NYSE HYBRID
I was wondering if you could elaborate on this statement you made: “You need a nimble program that looks for five cent moves in a stock and then hits it on a sweep, or have trigger points already entered to take advantage of a sweep.” You also mentioned you were working on a program called TapeReaderPro. Are you finished? I don’t know about you guys, but my scalper friends and I are struggling anyway. Thanks for being a leader in our business. —Steelhead
First off, thanks for the kind words. I have made comments about the state of the scalper these days on several occasions. Scalping alone is finally becoming a thing of the past. We will always do it, but not as the primary focus. Market efficiencies have increased, but other doors have opened for the daytrader — we all need to adapt. Some of our guys have triggers that are set off when the REDI quote line changes color, indicating a sweep or some other significant action is taking place. Some look for print prices away from NBBO quote and trigger. And to be honest, some more programs are being designed, and after I test them, we may make them available to our traders.
SINCE YOU ASKED
Confused about some aspect of trading? Professional trader Don Bright of Bright Trading (www.stocktrading.com), an equity trading corporation, answers a few of your questions. To submit a question, post your question to our website at http:// Message-Boards.Traders.com. Answers will be posted there, and selected questions will appear in a future issue of S&C.
SWEEPS ON THE NYSE HYBRID
I was wondering if you could elaborate on this statement you made: “You need a nimble program that looks for five cent moves in a stock and then hits it on a sweep, or have trigger points already entered to take advantage of a sweep.” You also mentioned you were working on a program called TapeReaderPro. Are you finished? I don’t know about you guys, but my scalper friends and I are struggling anyway. Thanks for being a leader in our business. —Steelhead
First off, thanks for the kind words. I have made comments about the state of the scalper these days on several occasions. Scalping alone is finally becoming a thing of the past. We will always do it, but not as the primary focus. Market efficiencies have increased, but other doors have opened for the daytrader — we all need to adapt. Some of our guys have triggers that are set off when the REDI quote line changes color, indicating a sweep or some other significant action is taking place. Some look for print prices away from NBBO quote and trigger. And to be honest, some more programs are being designed, and after I test them, we may make them available to our traders.
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