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Strategies & Market Trends : LastShadow's Position Trading
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To: Magnatizer who wrote (2285)11/8/1998 11:37:00 AM
From: LastShadow  Read Replies (2) of 43080
 
Trading before 10 am

Daytrading I actually make the most money per minute if I buy at open on a gap signal suh as with IDTC Friday. I generally recommend people don't try to do that because you have to be fast and have decent execution response from your brokers, and you have to be a little more risk adverse. The same is true if you are playing full gaps as modifieds as did Sue and jay and some others on stocks like GERN.

If you want a little less stress or have some emotional ties to overcome or just riding the momentum like EGRP on Friday, then entry at 10:00-10:30 is the best way to go. If I am unsure of the volume and number of trades, say a stock was traidng thinly, jumps pen andgoes to higher volume and I can't instantly see that it will be worth a possible buck, then I will wait. I'd rather miss atrade than be wrong, but usually I only have 15 minutes to trade in the morning and itworks for me. I don't often trade before 10, and my success rate is less, but the opportunity is there for great gains.

My bottom line suggestion is to trade with what you are comfortable with and know you can generally be succesful at. If trading after 10 is good for your pocket and your head, then do that and refine those skills. It does have the added benefit of giving you the opportunity to look at the NYSE gaps and the market movement and decide if it is a flash in the pan or something worth looking for an entry.

lastshadow
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