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: Cash who wrote (524)	2/16/1998 11:37:00 PM
From: Ken Wolff	Read Replies (1) of 2120

Can you quantify what do you (or your trader that you mentioned) consider a "high percentage trade" Cash, Yes, a high percentage trade in my mind is one that meets all my criteria for a short, such as percentage up (20%+), Gap up?, where it ended up at the end of the previous day, 52 week high and lows, daily oscillations and swings, base over the last couple of days or weeks, why it was up (hype or solid news), etc etc.... to name a few.... AND that this particular pattern has been reacting in a predictable manner recently. It has been my experience that these type of patterns repeat over and over again, but hit short and long periods of cold spells where they do not work or react in an unpredictable manner. If we are right in the thick of a predictable period for a certain pattern this increases the percentages. In addition, after tracking these 5 niche patterns for many many years, I can quickly assign a percentage of success in certain plays with a pretty high degree of accuracy. This takes practice and the first step is using some sort of tracking described earlier. There are many in my trading room that will not play anything unless I assign it a 70% or better in my comments.... Personally I lay and wait for the high percentage trades. Good luck Ken mtrader.com

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