Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Ken Wolff who wrote (276)	1/17/1998 1:24:00 PM
From: Ken Wolff	Read Replies (3) of 2120

DETERMINING THE UPSIDE POTENTIAL (Part I) If you do not figure out your UPSIDE of a stock then you have no valid reason in being in that trade. You MUST determine the UPSIDE POTENTIAL . I have no reason to believe another new high will occur. With dumpers, the upside potential on the first oscillation down is the previous high before the sell off. The low hit on the first sell off becomes your current DOWNSIDE POTENTIAL because you have NO REASON to believe an oscillating stock will make a new low. So if I have a stock that has come off the high by enough percentage where I think the upside potential will support a 3/8 profit easily, I will buy. I've found that as the day progresses the oscillations become narrower and narrower. I keep adjusting the potential based on the most recent low and high if you intend to make money in the middle of the trading day. (continued...) Ken mtrader.com

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