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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: taLuis who wrote (1318)12/2/1997 8:47:00 AM
From: steve goldman  Read Replies (1) of 12617
 
Luis,

In a bull market, things tend to gap up more often than not the next day. Nonetheless, as a trader, highly leveraged into a particular stock (afterall, no adviser would say that it would be prudent to own 1000 dell on 100K account long term), you can't take the risk that you wake up with a WDC or CS or other gap loser. You trade too hard for 3/8s 1/4s and 1/2s to take a chance at losing multiple points over night. There are times I might try to guage momentum at the close and buy or sell stocks based on their preclose action (i don't do it that often). But this is a purposeful move, and as well I am fully commmitted to selling it out at THE OPEN regardless. I havent done it that often but on turnaround days, (the day after the 200 gain after the 550 decline) it sometimes works.

Nonetheless, you cant take a chance you go home with oXHP (oxford health) at 68 and wake up with it at 35, not at 25. That crushes and ends the game for you.

There are certain disciplines and rules that successful traders (day traders) have lived with for years. One of the most important is not taking stocks home. IN an up market, taking them home works, but you run major risks of getting knocked out of the game.

Regards,
steve@yamner.com
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