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Non-Tech : Raptor's Den
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To: Softechie who wrote (2333)7/31/2002 1:59:08 PM
From: velociraptor_  Read Replies (1) of 10157
 
IMO, there are no defined rules in daytrading. Everyone has a personal strategy and methodology in the way they work. What is right for one may not be right for another.

For example, I don't use stops as often as many daytraders do. I think they are a waste and lead to taking lots of little losses in trying to find just the right entry. Lots of little losses add up too and so do all those commissons. Besides, if you do the research, picking the right entry isn't always 100% on the nose, and you could easily be stopped out on something that you would have been right on a day later and get out with profit and no losses. I had one person hound me for not using stops that often in the MSFT Trade Study. Needless to say, my stratagy may not be as orthodox, but it works.

Zeev's strategy works for him.
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