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Strategies & Market Trends : Timing the Trade the Wyckoff Way -- Ignore unavailable to you. Want to Upgrade?

To: coferspeculator who wrote (25)	4/20/2004 12:45:37 PM
From: Dominick	Read Replies (1) \| Respond to of 14340

I mostly daytrade options due to the leverage. You can control thousands of shares for peanuts and I find they tend to lag the underlying,(important when you want out). With 50 contracts you only have to make a nickel. The most crucial aspect is you must be right anticipating the direction. The principles,trend lines,support and resistance areas are same for daytrades except they happen much faster. LT and IT trends are anywhere from 15 to 60 minute time frames. Trading break-outs worked for me up and until 1999. After that I was getting whipsawed so I went to fading the move. You can, in effect, daytrade off the daily chart. If the principles indicate an upmove coming, you can fade the intraday decline to accumulate shares. Naturally you'll need RT quotes and charts to see past intraday trends and support/resistance lines. Hope's this helps, Dom