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 (1886)	3/30/1999 7:15:00 PM
From: Ken Wolff	Read Replies (1) of 2120

Here is how I followed the market each day: I group my trades from the top of my quote screen to the bottom with spaces in-between. I try to group them by "time". (e.g. My open shorts are on top as they will occur just before or right at the open.) Next, I have the trades that usually occur after the open shorts e.g. Dumper stocks). I normally trade them about the first 5 to 10 minutes of the market open. My next group are the hot stories with stocks that have the freshest momentum. (e.g. good earnings, FDA approvals, etc. ) With this group I will watch for the "average" pullback after the open and wait for the first ones to bounce to spot the buying and selling strength. This group takes longer and is usually played in the first 20 minutes after the open. My next group is the gainers that had fresh momentum from yesterday. I call them 2nd day gainers and I like them to gap up if the market is opening strongly. It shows continued interest and they will sell down slower with waning momentum and generally be the last trades. (cont..) Ken www.mtrader.com

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