Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: IEarnedIt who wrote (24)	7/26/2000 6:32:18 PM
From: gene_the_mm	Read Replies (4) of 1426

THOUGHTS ON LEVEL II... If you are a day trader (meaning you trade INTRADAY swings), and especially if you do more than 2 or 3 trades a day you MUST have LEVEL II. If you use 20 min. delayed quotes for day trading, IMHO, you are better off smoking some crack and picking your spots by shooting darts. You need to see REAL-TIME price action if you are going to day trade and be successful. However, if you SWING TRADE (trade for 2 to 5 day or longer momentum stock swings) then you probably can live without LEVEL II. I suggest you setup profit STOPS as the stock moves up and know BEFOREHAND how much you plan on making and how much you plan on risking. Having this mechanical rule system laid out before you, while rigid, will make your trades MUCH more profitable in the long run (as long as you STICK TO IT!). All the best, -- Gene

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