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Strategies & Market Trends : DAYTRADING Fundamentals
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To: marketbrief.com who wrote (2624)8/11/1999 12:07:00 AM
From: Bilow  Read Replies (1) of 18137
 
Hi marketbrief.com; Great post on that recent trade.

I had some good scalping today, and made 10cents per share on 25 trades. For scalpers, this is considered heaven, and includes lost money on ESCMF, that I hope to recoup in the few weeks. (A fundamental play.)

But I did have one trade that was in extremely poor taste. INTC was in a downtrend a good part of the day, and defined a decent down channel. I shorted it at the top of the down channel, while the futures were also at the top of a down channel, figuring to make a fairly safe spread. This turned out to be a bad scalp, as both INTC and the futures kept right on going.

Instead of covering with a small loss, I let the position go a point against me, and then waited for INTC to drop back before I took my immoral profits. I ended up being a (short) investor in INTC for about 50 minutes.

Just thinking about the trade makes me feel filthy.

(Very embarrassed) -- Carl
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