Mark, you know all good traders never reveal their secrets .
Let me give you a hint. The thing I do that helps me the most is to have a good watch list. I also have extensive lists of stocks on track on line sorted by sector, and look at charts nightly. In my mind, I know the trading ranges of hundreds of stocks, so when they are fading, it alerts me to look at the chart. When they are at key support, or bottom of channel, and the sector is strong, and the stock is one of the good ones from that sector, it gets on my list. I can't watch hundreds of stocks a day, but I narrow it down to perhaps 50-100, and watch those real time.
This method has worked well for my position trades. It is not scientific by any means, but it works for me.
As for DWSN, that one I was watching level 2 action, which showed a firm bid and one seller all morning on instinet, together with 99% of the action buying. Suddenly, on my trade logs, there was some big block buying, and the stock exploded. When the seller on instinet left, the stock exploded.
Mark, I was interested in reading Cooper's book, but can't afford it. Think he would send me one if I publicize it <g>? Most importantly, do you think I could make more money. All I know about 1,2,3,4 was that when I was young, that was my goal on every date. |
