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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Ken Wolff who wrote (1985)	6/8/1999 9:07:00 PM
From: E. Davies	Read Replies (3) \| Respond to of 2120

Most of our trades have enough potential in them that executing at the ask is good enough Then you are certainly a better trader than me. (Duh!) I'm starting to find that entering a trade across the spread is almost the only way for me to withstand the shake that often happens after entering a trade. You know: you buy at ask. The stock upticks a couple of times. You are happy happy that you hit it right. Then it downticks. Yikes! You are break even (or even in the red) if you have to sell at bid. Then is when you have to show strength in the stomach. Its pretty common (on the trades I enter anyway) to get yet another downtick. You are back to where you started and therefore you are already at a loss. Sell or Hold? Gets pretty tricky by then. Everyone says dont let a trade go against you, but heck the bid/ask is only break even! What do you do in situations like this? (I know there's an easy answer <g>). This is why more and more if I cant enter long at the bid I dont go for it unless its is one of those high intensity stocks on a run. Eric

To: Ken Wolff who wrote (1985)	6/8/1999 10:28:00 PM
From: snoop dog	Read Replies (1) \| Respond to of 2120

Ken--You wrote: <<Usually when I want in I want in and don't quibble much about the price. If you are scalping for a small profit then executions become paramount and going for the bid is a good idea. Hope this helps>> I've been lurking and reading your thread for a while now and wanted to ask you a few questions. I'm considering "scalping" using Level II and Cyberbroker because it seems like a low-risk, consistent way of pulling money out of the market. You seem to look for greater price swings. Do you know people who are successful at scalping, and where can I get more information on appropriate tactics? Do commissions make scalping impossible? Ken--you are one of the few people out there that operates a productive, informative thread so I'd appreciate you input. I'm starting my account out w/about 75k and will be trading on a simulator until I'm comfortable. Also, do you recommend starting in a trading room or remote? Thanks!!