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

To: Robert Graham who wrote (7585)	3/28/2000 1:13:00 PM
From: SnowShredder	Respond to of 18137

Hi Robert, I completely agree with you on entering a trade, watching the equity go in your direction a couple pts & then turn, yet that will cover the spread/commission if that. I've actually have been debating on whether or not to use a similar system. As I often find myself, entering a trade based on the dailies, yet wanting to exit based on the intraday pattern even though my daily price target hasn't been hit. I usually try to position trade & exit @ the daily price target, but occasionally get shaken out due to the intraday price target...maybe I should comprimise and use a 15, 30, or 60 min price target instead. When I actually tried using this, I found myself trading larger to compensate for the contracts that I would sell early. For options I've been trying different types of stop/loss, yet I find it difficult as the volatility/demand issue tends to skew the prices a bit. Is your stop/loss based on the option price or the underlying equity/index value? I've been trying to base my on the underlying equity, although @ times the price change of the contract can be dramatic (including the spread). Thanks. I'm a firm believer in when the market is good trade more aggressive and when it is bad, trade more conservative or not @ all. I'm finding that it takes a big hit for me to figure out that the market has changed to the downside, I need to figure this out before the big hit(although I have no complaints, as the market has been good to me). Any suggestions on how, not to be so thick headed are welcome : ) Thanks. Best of luck, Where'd He Go?