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Strategies & Market Trends : Trading For A Living
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To: Rob Davis who wrote (486)6/20/1998 4:36:00 PM
From: jawd  Read Replies (2) of 1729
 
1) I track about 20 stocks looking for activity then dive in and trade only one (Nasdaq) stock at a time (using level II). I need to concentrate 100% and watch the play to decide when to get out/in.

2) I always buy min. 2000 shares and look to quickly take 1/16 profit. This produces the same profit as trading 1000 and looking for 1/8. Difference is, 1/16 comes a lot easier than 1/8 - therefore IMO a lot less risk. Downside is that if the trade goes wrong - losses are doubled.

If a stock is low price - like $15 - I might accumulate lots of 2,000 up to 4,000 or more. Easy to buy 4,000+ but much harder to sell. Have to sell it in lots of 2,000 or maybe direct to MM's using Selectnet at bid. Reason is that showing large numbers on the sell side easily pushes price down.

Of course, much of this is determined by the size of your account.

3) I only trade Nasdaq. NYSE too slow for me.
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