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

To: fftrader who wrote (8125)	4/29/2000 10:14:00 PM
From: Bilow	Read Replies (1) \| Respond to of 18137

Hi all; Great aritcle in May GQ re daytrading. Guy goes into a proprietary shop that only trades NYSE stocks, with a chunk of his editor's money, and turns a profit trading 200 shares in his first month. -- Carl

To: fftrader who wrote (8125)	4/29/2000 10:52:00 PM
From: OZ	Read Replies (1) \| Respond to of 18137

<we basically run a Hi/Lo ticker on a group of stocks and trade from it.> What does that mean?? A ticker is simply a scrolling list of stocks making a new intraday high or Low. These are the stocks that get traded. How many positions(average)do they have open at any given time?? From 80 to 300 plus. When speaking of exposure, the amount of positions open is typically not used, rather the total number of long shares and short shares is used. Many times the exposure is in the hundred of thousands. what is the "context" of that buy. As swing/position traders it must be based on some type of price or pattern recognition?? I already said the context. But I guess the pattern would be "the stock is going up so I will buy it". It need not be a nameable chart pattern to generate a buy. The reason I posted this things was to show how absurd the strategy seems. People with smaller accounts will always do better on a percentage basis by waiting for the "perfect setup" to come along. People with accounts over 10 mil. cannot find enough of those setups to buy and must use the economies of scale to increase their net profit. The key is risk/reward with risk management.