Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: Kimberly Lee who wrote ()	1/29/2000 4:34:00 AM
From: Autumn Henry	Read Replies (2) of 108040

One of the most aggravating things I have not conquered in trading is a near sure fire move for great returns. Now this near sure fire (to my studies) method won't always work but the amount of time it does to doesn't would mean I am much farther ahead doing it and of course there is no holy grail so it fits in the great play mode anyway. Today is a perfect example and I am using this forum to put this in the "light" of others as part of my "cure" because I want this play. I also feel that cause there is no place to really go with trading problems you want to solve unless you have a trading coach and they are very very pricey.....if you can get one.....well I do what I can to solve these kinks in myself. What I would like to do is discuss the play briefly. I would then request several things from anyone. The play is like today. When it is a "bad" day for longs at the open with gap downs evident. There is a high high probability trade that if you put a buy order in a couple of minutes to l0 max about at the open on the gap down you will be filled and the stock will attempt and very often complete walking up from the gap to the close of the day before. That can be substantial profits. Now I have seen this a million times in my trading life and watched it and watched it and watched it and it works almost perfectly and sometimes just near the gap but it does go up---esp. when it is not like "accounting irregularities" but just a drop for everyone because it is a report. Now what I want to do is conquer this irrational fear and place some orders. I wonder if anyone plays this play regularly? I wonder if I am playing it in my mind correctly and to the best as described above. I wonder what I have not thought of that would help. It is much like leaping into a cold swimming pool instead of just wading in a part at a time. I have not been able to do that either....:) Anyone do this? Any tips? Have I missed something? I see it as a high high probability trade.. Check many intraday charts on regular stocks at the open to the first l/2 hour. Is there anything else I should think about for protection? It just seems like my mind goes blank at the open with gap downs......like I am driving by a horrible car accident....is there any way you guys get out of the "stunned by the headlights mode" and move into calm collected calculated action? When I started trading I used to be a deer in the headlights on days like these. I couldn't make sense of the day like my mouth was wide open all day and at the end all I could say of it was "wow".....well, that is the stage I am at at the open gap downs....and I can't take advantage of what my heart knows as true with high probability!! And I mostly used to just "stop myself out or sell" at the gap ---silly girl!--cause it went so deep and my stops were so shallow and somehow I thought just this time it WON'T (cause it is me and the market god sees it is me) do what it does 9 out of l0 times and save my lily white A** by running back up to the close. Does this make sense to anyone? Also it is obvious that most daily bars overlap on charts. Now how the heck does that happen? Well that happens cause for whatever reason price action overlaps from day to day. And the semi's generally have almost complete overlaps (bread and butter sideways trades). Now, I think....if you buy at the close it would seem that if it gaps down...it has a large chance of getting you even, better than even or almost even---a sell at the gap is well, how should I put it autumn,...well STUPID!!....:) So maybe a play at the close can be not the worst play UNLESS there is some really bad stock news and it tanks like a dead dog and that stuff happens and you can't stop it and that is why you have good money management skills esp for overnights.... So any comments? Anyone play the gap downs? Any suggestions on playing them well will be greatly appreciated. Autumn

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