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Strategies & Market Trends : Book: Hit And Run Trading by Jeff Cooper
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To: Deep Margin who wrote (394)8/8/1998 11:27:00 AM
From: username  Read Replies (1) of 438
 
I trade via Terra Nova (TNTO) and SOES; electronic day trading. I've tried everything, lost money at everything. I have a live Dow Jones news feed, I use two monitors, and have pretty much abandoned all the exotic TA stuff that I had developed over the last 10 years. I have a "system" that is pretty simple, I watch the S&P futures, the COMP, the INDU and the Bonds. I short weak stocks on down reversals and buy strong stocks on up reversals intraday. Example: I watched ERICY on Friday all morning, it traded a million shares and refused to go up in a very strong market. I shorted it at 10:45 a.m. (26 11/16) and doubled my position at around 12:30 p.m., when it looked like the market would go south. Got 3/4 and didn't have to agonize the stock moving against me. Punch up ERICY on a 10 minute bar and you'll see what happened; remember what the Dow and COMP did in the morning.

quote.com

I agree about the tight stops. If I have a trade go 3/8 against me, I get out. No ifs, ands or buts. The only way I have ever lost more than I wanted to was by letting a loser go against me too far. I think if you want to trade successfully, you have to be able to pull the trigger and get filled in one second. That's what I do. Here is the first such place I heard about. I don't use them, I don't hype them, I am merely pointing out one possible resource.



broadwaytrading.com
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