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: William W. Dwyer, Jr. who wrote (914)	4/10/1998 9:23:00 AM
From: Ken Wolff	Read Replies (1) of 2120

William, Generally I play stocks that have a rhythm. The implication of my style of trading is that when I decide to buy the stock is 30 seconds from an uptick so I "EXPECT" the stock to go up and I buy at the ask price with a potential of over 1/2 pt. or I will not do the trade. If I get any selling overcoming buying I will exit the trade and admit I was wrong. So it sounds like you may be attempting an "iffy" scalp type trade where the stock can go up or down. I stay out of these type of trades and so prevent most of the problem you are referring to. I really don't care how fast or slow I get into a trade. I recognize by the action the expected direction and bail when wrong. Good Luck Ken www.mtrader.com

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