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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: SMALL FRY who wrote (68819)	10/31/1999 6:07:00 AM
From: puborectalis	Read Replies (2) \| Respond to of 120523

SO YOU WANT TO DAYTRADE.......... Learning To Daytrade Mark Seleznov Oct 8 1999 Effective trading can be learned Many traders are quite capable of learning to be more effective. One of the prerequisites, however, is to learn from people who are organized in their thought process. Successful day trading is built upon a unique foundation combining art and science. Reading the Tape SOES trading is a modern form of trading via tape watching. The rules of the Nasdaq market dictate that all market makers in a stock must display their current quotes. Market makers are constantly updating and changing these quotes in response to supply and demand, news, and other factors that influence market movement. Herein lies the opportunity for the SOES trader. The Electronic Day Trader is constantly looking for the beginning or the end of a trend, and tries to buy or sell a stock short, while the stock is moving in price. Always remember: "The trend is your friend'. Fighting the trend is a surefire path to disaster. To Day Trade profitably, you must take advantage of brief flurries in prices. Large intraday price moves can occur in response to news and other outside influences. At times, the rumor mill will drop or rally prices quickly. Program trading is still a profitable activity for large institutional type traders. Regardless of the source, consider all price rallies or declines which occur quickly within the days trading session to be an opportunity for you to either exit your current position at a profit, or to establish a new position using support and resistance methods. The key is Discipline, Discipline, and more Discipline Improving your chances for success Buy up stocks. Sell down stocks. Know what price and where the stock started to move. Do not trade stocks you consistently lose money in. Review your trading activity often. (take good notes) Be aware of the underlying trend. (market sectors) Use your ticker effectively. (recognize market maker activity) Use ECN's and SelectNet: Don t give up spread twice. Be aware of the time of day Frequent Reasons for Bad Trades Trading Stocks Not In Motion Chasing stocks up or down too many levels Greed Bottom Fishing {terrible habit!) Taking Shots Impatience Not Reviewing Bad Trades and Learning From Them