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 (519)	2/16/1998 2:42:00 AM
From: Jason Dekker	Read Replies (2) of 2120

Ken, I am a trader myself and I think you have a lot of helpful hints to offer. My question is related to open shorts. I think the concept is a great one, but I am wondering how and when you determine your entry points on open shorts? As all traders know you can only short on an uptick, thus shorting into strength. If you are only willing to give up an 1/8 or 1/4 this might be quite risky, or are you more willing to take on more risk with these trades. I truly agree with you that most stocks that are big gainers or that gap up, retrace. However, it often takes them up to 5-10 minutes and sometimes longer before they start falling, and that could mean risking a more than an 1/8 or a 1/4. Also, some of these stocks just start falling from the open without an uptick. Could you please explain how and when you determine to short these stocks. Your insight is much appreciated! JD

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