Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: rocklobster who wrote (8054)	1/11/2002 4:06:38 PM
From: herry iball	Read Replies (2) \| Respond to of 26752

Rock....I will second your entire philosophy. Over the past year, and especially the last few months, I made tons and lost tons by going for larger multi-point moves. Then I switched completely to scalps, and incrementally have been taking home much much more money by end of week, and doing so consistently. All it took was a change in mindset. I've taken a page from Lee's book, and don't try to try and figure out what the markets are doing, or why. I just trade the charts, and rarely take anything home daily, and definitely never take anything home on weekends. When I hold, it is options, with their limited loss potential. I don't wake up in the morning with a mad dash to the PC to see if what I'm holding has been upgraded, or downgraded, or if the company put out a fluff piece which moves my short sell up 3 bucks. I initially did what most folks do....I tried to apply logic and sense to the markets....and there is none. It is, as Lee says, all perception. Who cares what the factory orders are? what is important is the market perception. With the cheap commissions at IB, I can scalp a stock ten times a day and it won't cost me a fortune. If a trade goes against me, I immediately get out. It's easy to take a dime on profits when I have 5k shares. Yeah, it rubs tin foil on my teeth if the stock continues moving and I leave a lot on the table, but I also don't get burned on a quick reversal.....so I always sell into strength, and cover into weakness. But I sleep well, and make good money. Now, if only I could read the market internals like Susie, I'd be all set. That call today was absolutely perfect. I yam humbled by that kind of market awareness.