DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: TraderAlan who wrote (5064)	10/29/1999 1:25:00 AM
From: fftrader	Read Replies (1) of 18137

TraderAlan,<morning vrs. afternoon trading> I find it also very interesting, one that I am constantly pondering. The following is what I have discovered so far,hope it works. At the opening some of the best plays appear to be off gaps. These appear on more volatile days such as today(28th), otherwise we may be only looking at continuation type formations based on prior trading days S&R,etc. Two of the books that I have read recently touch on this subject indirectly. First is "stock patterns for daytrading" by Barry Rudd. In the majority of his daytrading graphic examples he is only entering trades after a 5 or 6 bar consolidation(from opening)which equates to 25 to 30 min(he uses 5 min. charts)after the opening (min.)He then plays breakouts based on S&R of that day or sometimes the prior day. Second is "Street Smarts" by Conners & Raschke.Two of their best formation/setup plays can be played intraday(Turtle Soup&TSplus1). These take 20 periods to develop, so if you are looking at a 5 min. chart then 20 X 5 = 100 min.(Min.)= later morning to develop. Everything considered,I'll probably end up trading late morning and afternoon(skipping east coast lunch)especially as here on the west coast 6:30 opening comes very early!! My wake up call is Maria B(CNBC) not the computer.I'll let her get me up........... ff

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