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Strategies & Market Trends : The Scalper's Thread
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To: Tom DuBois who wrote (13)12/18/1997 10:14:00 PM
From: Tim Luke   of 62
 
Tom,

To be honest with you my style is not very technical. I just want the trade to be as quick as possible, I average between 1,000 and 5,000 shares per trade. I do use limits if needed mainly on the sell side but my style is not to get greedy and take what I can and get out.

Example: Even if you do only a 1,000 shares and you sell on 3/16, that will net you after comm. about $150. Now this is the very lowest of a trade but that is for about 5-10 minutes worth of work.

On average I will make between 300 and 2k per trade, I do have my losers and you have to take them from time to time, its all part of the game. If you buy and all of a sudden it starts to drop you have to make that choice to sell or ride it out. I like to sell and cut my loss and move on and never look back.

It may not seem like alot on money making a few hundred bucks on a trade but believe me it adds up. I have a few stocks that I own long but take a look at asnd, say you bought it at 35 and then it ran uo to 80, now that is a good investment "if" you sell but what most longs do is hold to long and end up riding the stock all the way down losing all their profits..

Try going to sleep at night without any postion in the marketl, its a great feeling. So when you wake up in the morning and the S&P is down 15 points befor the opening bell and the market is in a panic all you have to do is sit back and watcth for your prey.

That is the beauty of being a day trader:

Never get greedy
Never chase a stock
Its OK to take a loss
Never get attached to a stock
And try to close all positions at the end of the day

Good Luck

TL
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