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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote (712)3/17/1998 12:37:00 AM
From: Ken Wolff  Read Replies (3) of 2120
 
"TEETER"

In the beginning of a trade a stock will sometimes "TEETER". It will go up and clear your spread and then fall back down to your entry price. This is a tough time but remember your exit criteria and be ready to act if selling begins to outnumber buying.

If you get stopped out, get ready to buy again at the next bottom. Do not be discouraged at being wrong the first time. If you cleared your spread after the first buy it was a successful trade. Just keep calm and buy again at the next bottom.

Remember you MUST be able to see buying out numbering selling at the bottoms. If this is NOT clearly discernable stay out or you will lose two spreads by the time you receive confirmation of your buy. When a stock starts down they can fall VERY fast so be sure to exercise your INSURANCE by using your pre-determined stops.

Ken
www.mtrader.com
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