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Strategies & Market Trends : The Scalper's Thread
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To: jaytee who wrote (25)12/19/1997 11:02:00 PM
From: Tim Luke  Read Replies (2) of 62
 
Hi Jaytee,

I trade stocks in the 4 to 30 dollar range so I can afford to buy several thousand shares per trade. I also look for the stock with volume over 600,000.

Regarding using a stop loss, I NEVER use them its is a great way to loss your ass. Lets say you bought a stock for lets say $10 and the day ranege is 9 1/2 and 10 1/2 and you put your stop in at 9, they will have no problem pulling down the stock price down a grab you shares. Its the worse thing you can do in my opinion. Just keep your eye on the bid and ask and see where the orders are and watch the up and down ticks if they all start to look negative after you buy and the stock starts to head down take your loss a get the hell out.

To many times a stock will rise within the first hour of trading and then it will sell off and not recover back to where you bought it at for days or even months. Then you have your trading money tied up in a stock that end up flat for months. Never be affraid to take a quick loss and move on, you make it up on another stock.

Another good trading technique is to look for the stocks in the biggest % losers of the day and put those stocks on your list for the am. But don't buy them that day wait for the next day. The best way that I have found to trade these stocks are to buy in about 10 minutes after the open and pick up a quick bounce and then sell as quick as you can because it always seems to drop after a quick bounce.

Best of Luck

TL
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