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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote (1817)2/18/1999 5:29:00 PM
From: Ken Wolff  Read Replies (1) of 2120
 
The "gap" is nothing more than "Pressure on our 3 types of traders"

1. Daytraders
2. Amateurs with Pre-market orders
3. Institutions

#1 group will provide short term oscillations
#2 will produce action at the open by pre market orders (sells and buys)
#3 move slowly and usually later in the day..

So as pressure is exerted on our trading companions we anticipate predetermined and repeatable "action". That is why I usually look for 3/4 pt NORMAL pullbacks depending on:

1. THE GAP
2. THE PLAYERS BEHAVIOR
3. THE MARKET

The market is dynamic and a trader by implication must be dynamic also or one will never be a consistent long term "daytrader"

Ken
www.mtrader.com
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