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Strategies & Market Trends : A Simple List of General Do's & Dont's of Trading:
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To: Arthur Tang who wrote (592)4/17/1998 4:37:00 AM
From: Arthur Tang  Read Replies (1) of 769
 
Momentum players using limit orders? Forget it. Using multiple computers, maybe. In order to do momentum plays properly, you may need 6 computers. And 6 hands?

You need real time (or 1 minute interval) intraday charts for each stock you watch, at the very least. One for the stock you are stuck, one for the stock you are trading and one for the stock some one picked. Then you need three internet brokerages at least to even out the three clearing houses' quotes. This is to be able to buy in on the rise. And when you want to sell, you do not want brokerages that might have insufficient modem lines or congested T1/T3 line.

Set for market order with email confirmation and you are ready to go. Do you have 6 hands?

Or do you join the crowd, and stay with a single guru who makes the right pick, more likely have the following? Some guru has large funds available to influence moves, do check out a few one day charts and see for yourselves. Watch the time of the picks and the moves on the intraday charts.

Always remember, daytraders do not have stock in the account; the account should always be cash. The game is to take the cash from the clearing house who takes customer money and give them stock. You are to take the clearing house money, by making a profit on your trades.
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