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Gold/Mining/Energy : Day trading in Canada
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To: JPayne who wrote (6)8/10/1998 6:21:00 PM
From: keith massey  Read Replies (1) of 4467
 
I would have to disagree about day-trading and short-term trading of mining and oil stocks. In the last 6 months I have been in and out of around 20 mining and oil stocks. I follow daily and wait for the right time. I almost always use volume as the main indicator. I am in and out in less than 1-4 days and always take a little profit (15-20%) on half my shares to give myself a safety net just in case it starts to go down. I make sure I know the fundamentals, trade on the chart and volume and never, never wait for news.

I also make sure I am following outside influences that can effect the stock market such as the price of gold, the TSE and the DOW.

I have not lost money on a single stock in the last 6 months (I even find this hard to believe) and have done very well on many of the mining and oil stocks I have bought in the last 6 months such as SJD,WSP,DML,AFC,BSW and lately on BSX which I have been in and out of around 7-10 times in the past 4 days. On several stocks I have bought and sold at the exact same price when things didn't move (e.g QTR)and broke even.

I would like to take my trading to the next level by using better charting software and a faster broker. I am fairly confident in my trading style and would also like to try some shorting in the future.

I have checked out marketbrief several times. I am wondering if anyone uses the BMI quotes and the tradestation 4.0 software. It is fairly expensive and want to know if people think it is worth the money.

Best Regards
KEITH



managed to lose any money
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