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

To: booters who wrote (10991)	12/17/2000 7:58:46 PM
From: jficquette	Respond to of 18137

Booter, The problem with scalping is there is too much noise at small time frames. I call it the Quantum effect. Though, the market is geometric in nature and therefore consistence in all time frames the big money people purposely distort the maret by having the ability to move the market around just enough to blow stops based on intraday trigger points . Have you ever been stopped out a small amount, just to see the stock turn in your direction?? I feel that you have to trade with the daily. Pick out stocks that look like they are ready to react to a direction on daily charts. If the trigger price is hit wait for the reaction to reach support or resistance to see if the price barrier turns the stock in the anticipated direction. Waiting for the reaction to see if it turns in the anticipated direction and fading the market may cut some profit out, but, remember other people are watching this stop and many times the break of support or resistance will blow stops making is seem that the stock is a good trade.I do not trade lower then 15 min time frames and I always go with the daily and hourly charts. If there is a conflict between daily, hourly and 15 min time frames I do not take the trade no matter how juicy it looks!

To: booters who wrote (10991)	12/17/2000 8:21:52 PM
From: booters	Respond to of 18137

Edit; I have found that grabbing a few extra points on many trades does not come close to the money made by being there when those few big moves come. So even though I am a scalper at heart I have learned to sit somewhat calmly during the frequent and small bounces, waiting for the bigger move. I just realized this maybe misleading. What I should have said was " I sit somewhat calmly and HOLD ONTO MY POSITION during the frequent and small bounces, waiting for the bigger move". In other words I am in a position and waiting, not waiting on the side lines. I am trying to hold out for a larger move, not scalp the move or grab a small profit and run. boots

To: booters who wrote (10991)	12/18/2000 8:17:42 AM
From: TraderAlan	Respond to of 18137

booters, I suspect an "experienced" trader that chooses scalping for the first time can do fairly well with it. But most will eventually turn away because of the reward:risk profile. There are no doubt some age bias factors at work. Younger traders probably favor scalping techniques while older ones go the more classic route. It could be the excitement factor. Some have refer to the Nintendo factor. Younger traders tend to hang around trading offices while older ones do it out of their homes. May be more social interaction with other scalpers. BTW I'm not supporting or refuting the age thing so I don't want to defend it <g>. But I think it probably has a lot to do with the preferences. I'm just the opposite of you. I've tried for years to lengthen my holds to 2 or move price waves. My powers of prediction are superb for the first move but routinely suck for the 2nd. So I've abandoned trying to hold through that pullback or congestion. Alan