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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote (1890)4/4/1999 12:55:00 AM
From: Roman S.  Read Replies (2) of 2120
 
In my situation, I use RTIII with a list of about 50 stocks in the marketminder window. I use sorting of Points gained as the first sort, then total volume as the second sort. I usually just play from the long side. By watching the top of the page, it will show me all the leaders in my list and easier to watch which ones are getting the volume. The list gets updated daily by screening the morning news. The trick is to have the patience waiting for a definite sign of which stock is the mover of the two or three that I'm deciding between. Too many times, I have 2 stocks at the same price range and haven't waited the extra 5 minutes to see which one is going to get the action. Prime example was DDIM and GARD on Wednesday. Both were at $4.00 and GARD was OTC BB with no profile to look up and DDIM had a profile with a very low pe. I went with DDIM based on fundamentals and a few minutes later, GARD started upticking. I was fuming. I have limited funds and a pure cash account which usually allows me one trade per day. After that first entry, I don't have enough capital to catch that 'right' trade after it shows itself. Patience is the biggest key to recognize who's getting all the buys after 10am. It might cost you an 1/8, 1/4 more to get in, but it's better to get a sure runner instead of a 'maybe'.
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