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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Jim who wrote (405)6/9/1999 8:53:00 PM
From: Daniel Miller  Read Replies (2) of 18137
 
I must say, today is definetly one of the best daytrading days I have ever had. I spent it over at IRC in such rooms as activetrader and of course my own whizkidz. I was making some EXCELLENT shots there. I was mostly playing DITC considering it had some nice volume until about 2 PM EST. That is of course a very important thing when daytrading. Next thing that appealed to me, was the cheap share price. It's always better to be able to make 1 point on 2k shares then making 5 points on 200 shares. You will most probibly never hold a stock for the 5 points anyways, considering a daytrader will try to knock off 1/4 and 1/2.

Early morning was when I was just watching the price fluctuate and getting a hang of the movements that it makes and which market makers had the most effect on the stock. I found that whichever side ISLD and ARCA were moving on was usually the winning side. When ISLD started bidding over 500 shares ARCA would usually pop up with a couple thousand and ISLD would raise their order amount. It was usually worth about 7/16 - 3/4 a point run. When the ISLD and ARCA shares ran out they would pop up on the ask side with alot of shares and that was the time to short it for another 3/4 or so.

Each stock has their own tricks to them. I sit on the sidelines at early trading, unless its an IPO, to discover the trading patterns and learn the techniques of the stock. I think its good advice to do so before daytrading a stock.

-Daniel Miller
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