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


To: Richard Estes who wrote (2141)7/28/1999 10:43:00 AM
From: Craig  Respond to of 18137
 
I start with a avg. daily volume 100,000 filter, which is could be a little on the light side. I then examine the 5 min. chart and if I don't see a constant flow of trades then it is excluded. This shows recent history, in case there was a high volume spike. To put this in context, I am pattern trading about 6 to 8 trades a day. Not scalping.



To: Richard Estes who wrote (2141)7/28/1999 10:58:00 AM
From: marketbrief.com  Read Replies (1) | Respond to of 18137
 
yep that's me, the vaunted smart money, lol. Rich, I agree that liquidity is a constantly changing thing... my rule is if it draws a clean 5 min chart and has good range then I'll trade it.... I am finding that stocks that trade less than 1MM shares a day are too risky for me, I want to be able to hit a bid that isn't a buck away....

~Smart$