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Strategies & Market Trends : SOES Trading -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Newman who wrote (1125)	11/13/1997 7:36:00 PM
From: Hawk	Respond to of 1618

Bernie When a stock is sinking the MM's won't even look at you till they are good and ready. Trying to trade momemtun alone is very hard. It can change in a minute and MM's try to shake you out all the time. I like to hear if anybody got a system also. Regards Marc

To: Bernard Newman who wrote (1125)	11/13/1997 8:24:00 PM
From: Mark Davis	Read Replies (2) \| Respond to of 1618

Not that it was ever easy, but I smelled this coming a year ago. Look, there are 10 times the number of SOES'ers now than their were just 18 months ago. And guess what, the same or FEWER market makers in each stock. You figure it out. All the SOES boys looking to move in and out at the SAME TIME and you expect to get filled? Forget it. Either you have to front run the move IN & OUT or sit and play for longer term moves where the slippage is less of a factor. Tough game, getting tougher.

To: Bernard Newman who wrote (1125)	11/16/1997 4:00:00 PM
From: Sniper	Read Replies (5) \| Respond to of 1618

God, you guys are sad... I can identify with some of your hard luck stories but you have to understand that SOES only trading is for losers. Someone mentioned a while back about all the 'noise', wiggles and headfakes these crafty mms are employing all the time. You'd be a idiot to have a 1/8 mental stop on every single play. This market prohibits you from making too many plays because you will get eaten alive. I regularly make 500-2000 per day daytrading (with a few +10k days)... not to say I dont have losing days, because i do.. but you take your losses ASAP and take off... if a stock turns of me, i say 'see ya' and move on to the next one.. unlike soes bandits, i do watch for NEWS because that is what gives a stock's run legs... and we love legs... I cant even imagine paying some firm $25 a trade. I use datek and i'm in and out in the blink of an eye... $20 round trip.. granted it aint soes, but thats why i make sure i trade stocks with plenty if isld orders in the book which assures me liquidity when i need it.. the gameplan is simple... jump in on a trend, ride it, and dump it on the first sign of weakness... and move on.. use a trailing mental stop.. and yes, on most of my losing trades i do bail with -1/8 at the most.. but its really a no brainer with lvl2 when a stocks gonna fall.. geez, you see inca sitting on best ask with 200 size, mms jumping off the bid and panic sellers on time of sales.. its a no brainer... or is it? .. a headfake? ... hmm.. thats why you gotta know the stock.. you need to keep a basket of stocks that you watch religiously everyday... and trade those.. good luck... want some violin music? Snipe'