Daytrading Psychology Message Board

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Strategies & Market Trends : Daytrading Psychology

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To: Technopeasant who wrote (30)	12/3/2000 4:09:23 PM
From: couldawoulda	of 104

technopeasant - as for stops, I normally set them according to the moving averages when I day trade - 9 & 13 day daily to be more specific and I always stick to them. Of course, the 50 and 200 are usually huge support/resistance lines, so they are ones to watch as well. I also like trading around the 15 minute 20 day MA. Others trade by the 5 and 10 day MA. Anyway, pick your moving average(s) to follow, and develop a strict set of rules surrounding them that must be abided by. Also, never remove or move your stops down, and always move them up according to the action on the given stock you're playing.

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