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

To: Threei who wrote (5546)	11/21/1999 11:56:00 AM
From: Tai Jin	Respond to of 18137

Vadym, I have to agree that one should not try to predict the market - just react to the chart. I had been trading poorly this year primarily due to trying too hard, trying to predict or out-guess the market, poor risk management, and over-trading. Trading really is as easy as it sounds: follow the trend (or never trade against the trend), buy at support and sell at resistance, buy the breakouts, don't trade impulsively (there should be a good rationale for each trade), and don't be greedy. If you make it any more complicated than that then I think it will be difficult to be successful. Here's a tip. Watch the market makers' actions. I was trading MSLV last week and noticed that MSCO was one of the best bidders and was never selling the stock. It was obvious that MSCO was accumulating the stock (I think they also are one of the underwriters for the IPO), and I felt safe trading on the same side. The strong chart on Friday is due in large part to MSCO's actions. ...tai