RamtaJogi— Hacking Life for Money and Fame.

Now that I have selected my broker and funded it with money (5,000$), it’s time to start trading!

TOS gives you couple of options to perform your trades.

1. thinkDesktop [An application which you can install and run.]

2. Web based trading [You can use your browser]

3. Mobile Trading [Trade from your mobile device. Seriously, who does this?]

Anyway, I have decided to use thinkDesktop to avoid dealing with slow browser interface.

At first, thinkDesktop interface looked really confusing. The text was really small and too many moving numbers. Luckily, TOS has some great video tutorials which shows how to use their software. I especially liked the thinkDesktop learning center. After watching those video tutorials, I am impressed with the amount of work they have done in their UI and I think I am ready to trade!

For my first trade, I have prepared a list of stocks which I am going to be watching tomorrow. Here are the stocks: [All the stock ideas are from Oct 1st Review Post from The Market Kid.]

1. ABK [Click chart to enlarge]

ABK Chart for potential 2nd October Trade

ABK had a huge run today from 2.24 to 3.49 (50% up).  If you look at the last 3 month’s chart [bottom left corner], whenever ABK had a run it continued it the next day. So if it continues the run, I will go long. I think that the run is likely because bailout bill has been approved in Senate. Also, based on the previous highs, 6$ could be the next resistance.

2. AGM

AGM - Chart for Potential 2nd October Trade

Similar to ABK, it had a huge run from 5.17 to 6.79 (65% up with a very high volume). AGM has an interesting pattern. If you look at the 3 month chart, beginning of September (9/8), it was at around 30$ mark. Then there was huge sell off for a week and it reached around 10$. Again it jumped to around 17$ only to come crashing down last week to 3$. Again in light of the bail out news, it could potentially rally tomorrow.

3. LAB

LAB - Chart for Potential Trade on 2nd October

This is a short play as suggested by TMV. As he says, whenever it ran for 3 days, it went down the subsequent days. TOS suggests that this stock is hard to borrow, will see how it goes.

So these are the trades I will be watching. In addition, I will be in GOTS Chat Room and try to see if I can make use of the alerts from the experienced traders in the room.

I am excited as well as anxious about my first trade. I asked JV about my watches and he said that he doesn’t try to predict the moves and trades based on opening bell charts. I definitely agree with him. I will definitely make sure that these stocks do the right move in first 30 minutes of trading and if it as per my expectation, I will enter the trade. He also recommended using Flat Fee Trading on TOS.

I will come back tomorrow and report. Wish me luck!

RJ