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Strategies & Market Trends : Rande Is . . . HOME
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To: StockHawk who wrote (7546)5/25/1999 1:09:00 PM
From: Rande Is  Read Replies (1) of 57584
 
I scan everything in the AM. . .sift thru hundreds of news stories looking for the ones I think the market will react to most. . . then I watch volume on suspected movers to see if any buying coming in. . if volume is strong, I'll jump in. . . I look at daytraders Irc, only AFTER I have decided which ones to jump on. . .

I don't daytrade daily. . . nor do I do it for a living.

But now and then, especially when the market is weak. . .certain daytrades can more than make up any losses from the market moves.

For instance. . nearly everything dropped yesterday. . .but now that I have successfully traded SPDE today, I have recovered those losses from the daytrade. A break even on any other near-term trades will get me out quite happy on the day.

But one thing I must say. . .if you are trying to DAY trade with 1,000 dollars or less on a single trade. . .you perhaps never see gains. You must have 5,000 or more at risk on the daytrades and more importantly, you must have quick reliable equipment and have successfully paper traded for a long time, before you will start to win at daytrading.

All in all, I would not reccommend ANYONE to daytrade even casually. . . too easy to lose LOTS of gains that took months to make. . .within minutes. VERY VERY risky venture.

Rande Is
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