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Strategies & Market Trends : Position Trading Forum

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To: Tim Luke who wrote (2731)	10/2/1998 4:38:00 PM
From: Nazbuster	Read Replies (3) of 7247

Tim, I had a breakthru today! Did $3,925 on purely trading the ups/downs! I finally am getting the rhythm of this stuff and realize I was trading at the wrong times until now and in stocks which were NOT orderly. Today, ASND was well behaved. It's moves were clearly telegraphed and smooth, leaving plenty of time for me to hop aboard, even with my kludgey internet order entry system. (I have trouble getting shorts to execute.) Made things look easy! I used Stop-loss orders on every trade and moved them in close when profits were locked in and price action or trading frequency began to weaken. Then, I just let the market take me out or surprise me by moving higher, in which case I moved up the stops. Now I know why I've been having so much trouble in my first month of trading: this has been a crazy market and I've traded crazy stocks (like AMZN, CMGI, XCIT, etc.) which make MAJOR moves without warning. I may stick to NYSE issues for awhile just so I can get "smooth" patterns. (Yes, I shorted your darling MER today!) Now I know what it is SUPPOSED to feel like!

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