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

To: E. Davies who wrote (1989)	6/9/1999 1:16:00 AM
From: William W. Dwyer, Jr.	Read Replies (1) \| Respond to of 2120

Eric, You've touched on some good points. I have found on occasion that I got quicker and better fills using my simple old Fidelity account than with a direct access broker. Hard to explain, but definitely worth noting. Regarding finding "momentum stocks early rather than after they have moved a lot," that's a really tough one. Easiest thing to do is to just be watching that stock when it starts its move. You're there, you see it, great. I don't worry about looking for a momentum stock. Too much trouble, and too much going on there, too many uncertainties. I prefer to trade stocks with which I'm familiar, that have daily trading range of 10%, average daily volume in range 1-4 million shares, stocks with no specific big news on them that will introduce unusual volatility. I just like a stock that has nice oscillations and flows with its sector. I can track all that and leisurely trade the stock all day long. Not too glamorous, I admit, but it works. And, when I lose, I don't lose much. Bill