Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: E. Davies who wrote (1986)	6/9/1999 7:50:00 PM
From: Ken Wolff	of 2120

Hi Eric, This is always a concern when entering any trade on a guess it is bottoming. I do get shaken out of trades on such action depending on the market and how consistent it is. For example the best markets are those in which the strong stocks pullback from the open a consistent percentage then climb most of the day. Recently the market is very volatile and the strong stocks are not consistent and can make several false bottoms before the "real" climb. When the market behaves like that the only way to keep from getting shaken out of good trades is to watch for an indicator stock that gives you a peek into the action 30 seconds to 1 minute ahead of the rest of the pack. I try to spot the strongest and fastest stock and allow it to lead my lagging trades. Doing this over the years has kept my trading at a high percentage and keeps me from being shaken out of trades. Ken

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