TraderAlan,
>>>Do you find the market lets you out for 1/8 or 1/4 when you get no upside momentum?<<<
Yes and no...I for the mostpart look at 10 and 20 minute charts looking for a support level and a ceiling, then the second the stock moves up I make the buy, I NEVER buy the stock on the way down waiting for it to go up. I ALWAYS buy "into" the momentum waiting for the MM's to carry me out of the hole...
>>>What size blocks are you trading? Are your SOES executions right on the money or are you getting slipped a level or 2?<<<
That depends...I use both Datek, (to make larger trades) and I have MBTrading, for quick execution. Yesterday, when the market was down, I traded RMBS, 12 roundtrip trades, 10 winners 2 losers. Today, I traded CMGI in the early hours of the day until the action faded. For the most part I like to focus on only ONE stock per day and put every ounce of concentration into trading that one stock. I feel that If I only trade one stock, I can develope a sort of "relationship" with it, almost sensing it's next move where as if you try to track 10 or 20 stocks you just can't get a feeling that you can by just tracking just on or two. These are just MY opinions, nobody taught me too do it this way, it's just what works for me. Please feel free to interject, critique and, well, say anything (almost) about my trading philosophies. Also I wouldn't mind hearing your ideas and ways of trading and what works for you.
Best regards-
Franz~ |
