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Strategies & Market Trends : Trade What You See, Not What You Think
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To: chris- who wrote (274)1/18/2001 10:24:02 PM
From: aldrums  Read Replies (2) of 867
 
Chris,

Thanks for asking. The types of plays I currently feel most comfortable with and are most successful with are breakouts and reversals after fast selling. I haven't really developed a feel for shorting or buying and selling in a range or buying pullbacks--and those are all plays I want to develop. I'm afraid my trading is sort of one dimensional at this point, but I guess it is better to be good at something than nothing at all. :)
I have been paper trading my buys on the bid and for the most part I have been losing. Also, with shorting, initially I was burned many times when I tried to short at pivot points and the stock reversed. So I am much more careful now, and my plan is more to short at the top of the range than short the breakdown, Although I have not ruled out shorting a 1/16 below the pivot point if the breakdown looks strong and the stock is in a downtrend. But things are going well, and every day I improve. If all goes well tomorrow (knock on my computer screen) I will be profitable for my third straight week. My biggest improvement in the last few weeks has been learning how to ride my winners. I have learned how to do this by using your volume principles and selling half my position into the first volume/price spike. Initially I was selling as soon as I felt any resistance at all, but after I sold my fiftieth stock and it kept going higher I realized I might be selling too soon. Because of this my average point gain per week has tripled from what it was last month.

Regards,

Alex
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