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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Richard Estes who wrote (2349)1/13/1998 11:30:00 AM
From: dunlurkin  Read Replies (1) of 12617
 
If you are a fraction scalper, you should never take a position home. If you are a day trader, which is to say you try to capture the main move of the day, targeting a point or two or three on a given trade, you might consider taking a position home overnight but only if it is in the direction of the main trend, and you have a signifigant cushion on the trade. The question you have to answer is "are you willing to give up the profits in hand, plus maybe the amount you would risk on another trade, so see if the market opens in your direction?"

Look at the daily charts of qntm,efii,danky,oxhp- all were in fairly to firmly entrenched downtrends before they gapped down. The only right overnight position would have been a short one.
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