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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: jaytee who wrote (13408)	11/9/2000 4:44:48 PM
From: jebj	Read Replies (1) \| Respond to of 14162

>Thanks jb: Which of Ken Wolffs books do you reccomend? I take it you are trading off of some sort of "setups" he illustrates? (in his books) - JT Hummm - was not aware he had written any books, other than the course material that you get when you sign up. Ken runs a live chat room on mIRC in which several hundered of us are on every day. Cost is $200.00 a month - the best money I have ever spent - which includes his course material to his methoids. Therer is also a "beginners" room that his daugther, Gimmie, runs and just this week Ken added an "investors" room as well - keyed around longer term holds. Also, one of the other guys in the room runs a "swing trading" room - several days to a week or so trades. As for his daugther, besides being one sharp lady, she has the ability to explain things in a very simple way that one can understand and remember. In a nutshell, we scan the market every morning for news events, etc., that are going to affect both the market but more importantly individual stocks. These stock will usually gap - either up or down, depending on the news, and we are looking for 20% gaps. We then look for the one stock out of these groups that we expect to be a leader for the day, i.e., the stock that is going to move first, up and down, as the day goes along. We then play the other stocks as they will be slightly behind this leader - works like a champ! Ken has several other class of plays beside gap plays put gaps are the main ones we trade. He has some very hard and fast rules as to when to buy/sell as the market/stocks react. But the absolute one is we play what we see at the time, not what we think is going to happen or what was suppose to happen. Ken nor anyone else "call" trades - it is not that type of room. He does call what the market is doing - "market pausing, we may be reaching a bottom/top.", etc. He teaches you how and when to enter/exit trades - not tell you what and when to do so. You can check MTrader out at www.mtrader.com. As I said, I do not recommend daytrading to anyone - it is just not for someone that is not willing to put the time and effort into learning and one can, as with all investing/trading, lose money. Hope this helps. jb PS - if this election vote doesn't get done so the market goes back to "normal" - whatever that is - I am going to eat some of my CSCO Nov65's it seems - running our of time. But only have 1K at risk so can't get beat up too bad, huh? :)