Trade What You See, Not What You Think Message Board

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Strategies & Market Trends : Trade What You See, Not What You Think

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To: SteveDavis who wrote (25)	10/15/2000 11:59:52 AM
From: chris-	of 867

Steve, Great to hear from you again. I appreciate the kind words. I look forward to being able to talk with you again. Please let me sincerely take a moment to offer a little insight to the trading style that I've developed for myself over the past 3 years. I don't say this as a trading eureka as how I trade is no different from the stock-jobbers of the early periods of the stock market itself. It is simply comfortable for me. I do not scalp as a style, I am able to read a stock movement in a defined period of time. My time frame happens to be in a shorter period than those of short term traders as well as investors. Am I a scalper? No, I don't consider this to be true but I can see how it comes across in this manner and I wanted to clarify what may be the misconception. I am able to read a stock in a narrower time frame and take money when that ability to read is gone or if stop loss is hit. This can happen in as small as 1/8 of a point up to who knows how far. Each trade is different. Best gain this year being over 20 points on JDSU to worst loss being 2 points on a stock that I had no business being in (this is what happens when we break rules ). When the ability to read the stock is gone for me, this is time to exit for myself. I tend to stay safer and my reasons for the trade are sound. I can read a certain break or pullback or trend and I seize the opportunity. When that readability is gone, I do not wish to gamble for future profits and so I make it...sometimes with 1/2 shares, sometimes with the whole position. I consider this to be a very sound way to trade. When the price and volume no longer speaks to me, I can no longer understand the language and so I move onto my next trade. I do not mind scalping trades at all but being seen "as a scalper", I can't see this as a true nature of my trading. In the last week, we were able to identify many multipoint potential trades that were taken with the same readability as those that are scalped. Tape Reading is the true nature of my style and I enjoy it. If you can read it, trade it. If you can't read it, exit or don't enter at all. Please do not take this as "angry" as I am sincere in my text and it's hard to see that come across on a message board :) Again Steve, I look forward to seeing you again and thanks for the words. All the best, Chris

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