Day trading SPY

Discussion in 'Stocks' started by emulimu, Oct 2, 2021.

  1. emulimu

    emulimu

    I started day trading 1 share of SPY(since zero commissions) every day to see if I can get better at directional trading. Last week, I went long at $435 and put my stop at $432.70. On the chart, SPY never came down below $433.85 but I got stopped out. This shows TOS charts and market data are not reliable. Market could be $1 more or less than that is shown on the chart. Did anybody experience this in their trading?

    Any suggestions on third party reliable charts and market data? Maybe, it's time to have one broker for execution, one for charts and market data and one for analyzing and modeling options.
     
    Last edited: Oct 2, 2021
    777 likes this.
  2. ph1l

    ph1l

    The chart might not have reflected odd lots (trades/orders for under 100 shares).

    A possible workaround is use a stop limit order instead of a stop order. But then you risk having the price go through the stop without filling on the limit.
     
  3. padutrader

    padutrader

    i am not sure but the market does not have to actually trade at 432.7 for the stop to be triggered.
     
  4. emulimu

    emulimu

    No? If I place the stop at $100, it will be triggered and someone will buy it from me for just 100 bucks?

    My understanding is market has to hit 432.70 but once it hits, the actual fill can be less than that, unless it's a Stop Limit order.
     
  5. padutrader

    padutrader

    once it hits, the order becomes a 'market' order.

    since you have to close a long, you have to sell, so it will look for the best bid.

    but what i am not sure is whether a trade has to executed at 432.7 or whether the bid has to touch 432.7, for the stop to be triggered and become a market order
     
  6. SunTrader

    SunTrader

    Odd lots are treated differently. Speak to your broker is best course of action.

    But last week is not a day. Which day was it?

    Helps ya know - if you want someone to look at their chart.
     
    Last edited: Oct 3, 2021
  7. Girija

    Girija

    What day and what time.
     
  8. emulimu

    emulimu

    Here are the exact details. I just posted estimates before.

    BUY +1 SPY @435.63 LMT [TO OPEN] 9/28/21 09.57.41

    SELL -1 SPY STP 434.90 [TO CLOSE] 9/28/21 09.59.08
    Stop was at 434.90


    Here is my chart. Now, it shows gaps between 9.55 and 10.45 but on that day it was a continuous chart.
    upload_2021-10-3_11-7-6.png
     
  9. SunTrader

    SunTrader

    It looks like you posted times that orders were entered as my chart shows this to be nowhere near price levels. Anyway my chart has no such gaps, your broker has chit data. Gigo. I'd find another.
    !SPY.png
     
  10. emulimu

    emulimu

    I knew it! THINKORSWIM SUCKS!
    If they see this post and fix issues, that's good. Otherwise, they are gonna lose a bunch of accounts after folks compare these two charts and realize they are doing horrible trading with shitty market data with no chance of winning because of the broker. Which broker do you use?

    upload_2021-10-3_12-14-30.png
     
    #10     Oct 3, 2021