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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 (2029)	10/3/1999 1:14:00 AM
From: Tai Jin	Respond to of 2120

Eric, take a look at the Daytrading Fundamentals thread for some recent discussion about this. If I want to get in or out fast I use ISLD (actually I use it all the time), even if it is away from the market. Or you can take your chances with ARCA and risk not getting filled. ...tai

To: E. Davies who wrote (2029)	10/4/1999 12:16:00 AM
From: Ken Wolff	Read Replies (1) \| Respond to of 2120

Hi Eric: The challenge you face when considering fills is to buy at the proper time which does demand some timing. I use several techniques to time bottoms such as buying off of whole numbers. For example many traders will look to enter trades off easy whole numbers and you should look for direction changes at those targets. Yes some trades will bounce off fractions but most of the time a whole number or easy fraction such as 1/4 , 1/2 , 3/4 will be a pivotal change in direction. You must also only commit to trades that have excellent upside potential (when going long) or you run the risk of getting shaken out of a trade as oscillations in the middle of the days price range are more unpredictable. Finally another technique I use everyday in my trading room is you must get ready to buy while there is still selling. You are correct in that if you are a Johnny come lately to the trade you will be fighting the flow and have little success at getting the full potential of the trade. Traders who are successful at making huge gains on short-term momentum are those who commit at the proper time. Proper education is paramount in placing all the percentages in your pocket and it is costly re-inventing the trading wheel so I would suggest you try to find a trader who is successful and gain as much information from him or her as possible before committing your hard earned cash into the trading fray. Good Trading Ken www.mtrader.com