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Pastimes : Learning To Invest Correctly - A Shared Experience
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To: John Vsetula who wrote (68)7/25/1998 3:45:00 PM
From: Mama Bear  Read Replies (1) of 253
 
John, a lot of folks use the gap rule which is simply that you buy the stock if it trades above the high of the first 15, 30, 45, or 60 minute period during the remaining session. The choice of time frames is done from your personal risk management perspective. The longer the time frame, the better the odds that buying above the high is "true" buying strength, and will be sustained. I personally use the 30 minute rule. I place a buy stop at 1/8 above the high of the first 30 minutes, and if it executes, a stop 1/8 below the days low. Exit strategies vary. If I don't know the company I usually look for a 5 to 10% gain. I always close the trade between 3 and 3:30 PM. It is a good high percentage trade. I usually use mental rather than mechanical stops.

That being said, I'm not sure this is the appropriate thread to be discussing short term trading strategies. I was under the impression this was geared more toward long term plays, but will defer to the thread moderators on this question.

Barb
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