EP 051: Tracking ‘stocks in play’ and acting on order book activity โ€“ intraday momentum w/ Bryce Edwards

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I have a brilliant guest on the show this week who I can almost guarantee you’ve never heard of, he generally likes to fly under the radar, but thankfully for us he did agree to an interview โ€“ his name is Bryce Edwards.

Bryce is an Australian equities trader, he takes a discretionary approach, making his money from intraday price movements and goes home flat at the end of each day.

During the interview we walk through the 10+ years in the build up to Bryce becoming a profitable trader โ€“ he’s got an interesting story, and you may discover it’s quite relatable to your own situation.

We also talk about how the order book plays a key role in his trading decisions, and how he creates a ‘stocks in play’ watchlist using catalysts such as; company news, underlying commodity prices and broker upgrades and downgrades.

If you have any comments or questions for Bryce, scroll to the bottom of the page and drop a line in the comments area. At the end of the interview Bryce mentions he’s keen to answer any questions you may have โ€“ so I encourage you to take advantage of this…

“If you can use technology to keep more eyes on the market, then you can potentially trade more of your best setups.”

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Lessons learnt in this interview:

  • Bryce shares his story; from shaky beginnings as an options trader, to becoming a property investor, to mortgage broker, to stock broker, and now โ€“ full time trader.
  • The multiple ‘ah-ha moments’ Bryce has experienced over the past few years, one of which; understanding the order book is at the forefront of where trades are taking place.
  • The number one reason Bryce goes home flat at the end of each, and it’s not due to overnight-risk as you might imagine…
  • How Bryce uses the order book (layered with technical analysis) to anticipate short term movement in stock prices.
  • Some of the vast differences in market micro-structure between Australian and US equity markets, i.e. completely lit order books, fewer exchanges, market opening in five phases.
  • Bryce shares how he uses catalysts such as as company news, broker upgrades, and underlying commodity prices to create a ‘stocks in play’ watchlist for each day.
  • Why you should be utilizing technology to find more of your best setups and better monitor market activity.
  • A few great pointers that will likely help you to reduce transaction costs as an intraday trader.
  • Plus, much more…

Links and resources mentioned:

  • CFD Trader’s Edge โ€“ A chat room operated by Alan McGrath, where Bryce is currently a member and has been ever since his days as a stock broker.
  • The Playbook by Mike Bellafiore โ€“ The book that inspired Bryce to trade full time, and also enforced the importance of process, repetition and the concept of ‘stocks in play’. Listen to an interview with Mike on EP 022.
  • Trading Setups โ€“ In this video, Bryce shows a real example of how to ‘trade a wall’ in the order book (described during the interview).
  • Spark โ€“ The trading platform Bryce uses to view the order book and run scans on the Australian equity market.

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