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Strategies & Market Trends : Successful Short-Term Trading Strategies for Beginners
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To: Joe Copia who wrote (1)8/9/1998 12:19:00 PM
From: richard   of 78
 
Dear Joe , Good comments !!! I would add one thing that requires dislipine (freudian slip :) if you have a position that you want to keep overnite or for the intermediate term . Risk no more than half your profits once you achieve a 10 % gain so you would always have a at least a 5% gain . Never let a daytrade turn into a longterm holding because you are frozen with fear if you have a position go against you remember if daytrading you can always buy it back 15 min. later at a cheaper price. If you are daytrading remember that alot of times you are trading on short term news , use market swings to your advantage to sell into intraday spikes , and if the stock shows a increase in volume and the stock is ticking up , take the trade and set your stops real close . A daytraders mindset is something that takes some getting used to . If there is good news out on a stock don't think it can't continue to move after a short intraday consolidation , I made that mistake Fri. on EDS sold in the morning didn't watch the close and it moved up 2 more point in the last hour . I look for PEP to make a good move in the near future. Just my own opinion do your own homework. Best of Luck richard
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