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Intra-day Investing (Day Trading)  
Intra-Day (day trade) Investment Tables are provided for carrying both LONG and SHORT positions. The Tables are generated daily and are made available before the start of trade every regular market day. Below is a brief 4-step guide for using the Intra-Day tables. Please refer to iTables Help for detailed information.
STEP 1 - Selection

The Investment Tables are normally published well before the start of regular hours trading. However, the stocks displayed within them are preliminary, where one final step is required which needs to wait for regular hours market trading to commence. Preliminary tables are indicated by the following display in the OTD window:

After 9:30am and prior to 9:40am ET (timing will vary and depend on exchange data availability and system speed), the final table data will be published including current Opening Trade Deviation Limits which will be indicated in a fashion similar to the following example:

 

The optimum table for the current Intra-day investment cycle (and therefore position - LONG or SHORT), should be determined with the aid of the Intra Day (ID) Momentum Indicator (gauge) located on the MarketMeter.

Traders should select a group of stocks from the desired table (usually a minimum of 2-3 stocks). This selection can be based on individual stock preference, sector preference, etc. Or one may simply use the top 3, bottom 3 or middle 3. Either way keep in mind that the choices should be consistent, or systematic, as this is a system and success also hinges on consistency in use. Therefore, if the middle 3 are preferred, then the middle 3 should always be used. All stocks listed within the tables should perform very well, and one should not try to decide which will lose more or gain more, but rather which combination is desired, and this can be based simply on personal preference - no need to technically analyze what has already been analyzed.

We recommend a group of 2-3 as a safe minimum, though one may of course choose more, keeping in mind that the investment amount should always be split evenly across all stocks in the selected group.

 
STEP 2 - Position Entry

Once the optimum table(s) has been selected, attention should be given to timing and position entry.

The markets tend to be very erratic prior to and during the morning open. Proper timing at this stage can sometimes make all the difference to Day Traders. To assist with this Timing Indicators are provided within the MarketMeter, c/w other tools to aid in position entry. A thorough understanding of all Intra-day Indicators and Gauges is essential to successfully trade recommendations from the Investment Tables - please take the time to read and understand them.

Also see Opening Trade Deviation Limits (OTD) for other important information.

 
STEP 3 - Monitor

Once a position has been established, the stock(s) should be monitored continuously for any significant movement. At this point a Trader may consider entering a Stop-Loss order to protect against undesirable market movements (current volume and volatility should be considered in determining stop-loss order limits).

Once a gain has been achieved, any Stop-Loss order should be entered/adjusted accordingly (a trailing stop-loss may work well in this case, especially for day traders with numerous positions). The amount of the Stop-Loss order should never be placed too close to the current stock price at the time the order is entered - this will both protect you from a loss should the price reverse, and will also protect you from a lost position due to intraday fluctuations. 1

In situations where a stock has not achieved any real gain during the first part of the day, and unless there is a substantive market reversal or a Stop-Loss has been triggered, one should try to maintain a position for the full cycle (1 day), giving the stock(s) a chance to break from any temporary market pull it may be experiencing.

1 the above are suggested guidelines for using Stop-Loss orders. Traders are advised to apply their own level of prudence based on personal trading experience.

 
STEP 4 - Exit

Day Traders should exit a position at any time they feel comfortable with the gain. Intra-day positions should not be carried over to the next day.

At this point Stop-Loss limit orders are the only real tool left. Once the market is into the last 1-2 hours of trade, Stop-Loss orders may be used and should be made tighter in an effort to follow a price trend to better gain - and exiting a position at the first sign of a reversal or break in trend (trailing stop-loss), even though it may be temporary.