Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Ken Wolff who wrote (1576)	10/5/1998 7:46:00 AM
From: William W. Dwyer, Jr.	of 2120

Regarding stops, if going long, I only buy when the stock is being bought steadily and, therefore, usually buy at the ask price. If things change suddenly and I see trades going off at the bid price (selling), I try to exit via SOES at the bid. Failing that, which happens a lot lately, I sell via SNET at one level below the bid, hoping that's not more than 1/8. I try to limit losses to $125 and if I get two of those in a row on the same stock, I let it go and use the time to get some fresh coffee, waiting for the "real" bottom.

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