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

To: TraderAlan who wrote (1267)	6/22/1999 6:14:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 18137

Alan quick question.... whats a good profit target trading 500 shares, either day or swing...1-2 days or so??? i see my daytrading isn't as good as swing..with QCharts and P&F i feel more confident in my picks and trades... thanks..OJ

To: TraderAlan who wrote (1267)	6/22/1999 6:15:00 PM
From: Teresa Lo	Read Replies (1) \| Respond to of 18137

I'd like to see a pattern of higher highs and higher lows because it defines an uptrend, and I will buy every dip (qualified) until it can't go up anymore. This is the guiding principle of my trading, but of course, there is much more to it, such as making sure that there is indeed an emerging trend in the first place (can use average directional index or average true range) and that the pullbacks don't get too deep (must find support at the 20 period exponential moving average) in the time frame that I'm trading. And with the Trader Vic 1-2-3 set up, I put the parallel lines on every last higher high and higher low, in case that was it for the move. I let the market tell me when it's done since I don't know anything about Elliot Wave theory. This (Forrest Gump method) has worked well for me