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

To: Richard Estes who wrote (2629)	8/10/1999 10:20:00 PM
From: TraderAlan	Respond to of 18137

Richard, Don't think "seat of the pants" is the right way to describe a a serious discretionary trader. I'm very logic-based but not necessarily numbers-based. That logic is systematic, if that makes any sense. I use many inputs to base my decisionmaking, starting but not ending with the chart pattern. Some is math (MAs, retracements, BBs) but a a lot is sentiment, time of day, convergence with indices, tick, etc. Perhaps I should have highlighted market inefficency more clearly rather than insiders. I'm not too much into the conspriracy theory. Examples: rules open doors for SOES scalping, market adjusts and removes profit from SOES scalping. Or Net opens doors for MMs to be overwhelmed by Net traders pushing up Net stocks, MMs create basket systems to block automatic executions. More commonly, if a trending stock was turning at 38%, now it might not turn until 50 or 62%. Anyone using any form of TA is dealing with the past. A system trader and a discretionary trader are both doing that. It's more a question of where the execution triggers are going to come from. Alan