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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: David Nelson who wrote (2490)1/16/1998 2:56:00 PM
From: Richard Estes  Read Replies (1) of 12617
 
". My problem seems to be that the majority of the money to be made is in the first few minutes of trading at the open. Most stocks seem to open up on up market days and then drift downwards for the rest of the session. I hate to think of shorting after the open on an up market day. Every time I take a position at the close, the market seems to turn down at the open the following day."

It could be you have developed a system or plan that you trust and follow. Maybe you should ask what would I want to see before I buy or sell? What would show me these things? Then test the past to see if what you wanted to see, would result in profits. I would prefer the more objective tools like TA. But, you need a plan, intutive/feeling are hard to discipline.

"I haven't been able to successfully catch mid day moves. I tend to wait for more gain later in the trading session and usually loose. I also don't like to take a loss at the end of the day but I know that this discipline is key to winning. I tend to hold small losses that turn into bigger ones"

Well you seem to break all the "rules"- The simple but truisms that bring sucess. Know yourself! this is the first thing you must do. Maybe you aren't a daytrader.
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