Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (231)	6/7/1999 11:14:00 PM
From: Leland Charon	Read Replies (2) \| Respond to of 18137

Eric (and thread), I thought that I would share some trading thoughts with the thread. I have been daytrading for about (3) years now with pretty good success. When I enter a trade I am looking for at least 1/2 point therefore I have certain patterns that I like to look for. I trade a lot of NYSE stocks whereas I used to trade Nasdaq exclusively. I was having a hellish time getting timely executions on Nasdaq stocks as it seems like (100) shares was all that was ever available. I like the listed stocks because I feel they are easier to get filled on. They may not be the sexiest stocks to trade but they do move well. Another nice feature for NYSE stocks is that I can use buy stops as well as sell stops. I trade using RTIII therefore I cannot do this for Nasdaq stocks. I have a "core list" of market leaders in all the major sectors that I watch on an intraday basis constantly looking for a pattern that is to my liking. I also pay close attention to stocks in the news and stocks that are upgraded. Today for example RX was upgraded, didn't gap and turned out to be a wonderful play. Another good play today was LXK. Their earnings estimates were raised by some brokerage firm and it turned out to be a wonderful gap play. I love to play stocks that gap as they usually give you a entry in the direction of the gap (ie LXK today). I am not saying that this is the holy grail but it works for me. The most important thing to remember is to exercise a lot of patience when trading. Don't think that you constantly have to be in a stock. If nothing is acting well you shouldn't be playing. Remember capital preservation is the key to longevity in this business. The market will always be there tomorrow (or later that evening when night trading starts). Feel free to comment (both good and bad), Leland