Successful Short-Term Trading Strategies for Beginners Message Board

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Strategies & Market Trends : Successful Short-Term Trading Strategies for Beginners

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To: Wayners who wrote (16)	8/13/1998 5:44:00 PM
From: Wayners	of 78

I want to add something else that is important to my post #16. When playing the momentum day trading game and you are using a stop limit buy for example above a resistance area, it is essential that the potential exists for getting high volume to get the large price move you are really after. High volume occurs in general between 9:30 and 11:00 and 14:00 and the close at 16:00. Those are the times to be trying this tactic. During the hours of 11:00 to 14:00 its safer to pick intraday bottoms using support levels or slightly above support levels with a real tight stop limit. Be quick to take profits because intraday rallies are usually fleeting. Pick up 0.25 to 0.50 and get out. Pay particular attential to resistance levels between 11:00 and 14:00 because they are VERY likely to hold..just like the support levels.

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