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: Sir Francis Drake who wrote (1925)	4/20/1999 5:33:00 PM
From: Ken Wolff	Read Replies (1) of 2120

Hi Morgan, Your ideas are well thought out and I have no problem with them. You have adapted a technique for trading one stock that makes sense to me. Over the years I have seen many stocks behave as you describe MSFT. Normally the percentages you earn while being consistent are not nearly the potential we enjoy with stocks that swing 20 to 50% in one day in value. But each trader must decide how much money they need in light of their portfolio value. When I began, I developed my techniques to continually extract the most out of the market based on a portfolio only worth $6K. So I found techniques that met my particular needs and goals. If you have $500K your percentages can be less and you can trade MSFT or other stocks relatively easily and do well. I like your ideas and agree with them. When daytrading volatile stocks that swing 50%, value is not really an issue because it is worth what traders "feel" it is worth and so the value is perceived. Stocks that basically have a low beta and make smaller moves will trade based on "real" value and lets hope to god they don't miss earnings much. The street hates surprises. Good luck Ken www.mtrader.com

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