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 (521)	2/16/1998 8:11:00 PM
From: Cash	Read Replies (1) of 2120

Ken, I often use the open shorts method. If I'm wrong, I flip immediately and if I'm still wrong, I take my loss and stop with that stock. I'll do this with a few stocks and what generally happens is I lose a few 1/4's, lose a 1/2, gain a few 1/4's, gain a couple 1/2's, gain a point, and gain a 1+. I do this with many stocks and am exhausted by 10:20am. As long as I pay attention, I've been on the plus side 4 out of 5 times and overall, profitable with the strategy, but I feel I could refine it. Can you quantify what do you (or your trader that you mentioned) consider a "high percentage trade"?

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