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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Ken Wolff who wrote (37)	1/6/1998 8:52:00 AM
From: dpl	Respond to of 2120

>Know the rule and let the exception go. An exception will reinforce bad trading habits, especially if you make money. > I sure can tell you have been trading a long time.It took me a long time to realize that one.

To: Ken Wolff who wrote (37)	1/6/1998 10:14:00 AM
From: steve goldman	Read Replies (2) \| Respond to of 2120

I have never seen a professional succeed, long term,in any endeavor without discipline. I can't ditto this one enough! Trade the rule, not the exception. Do what the ideal trader would do each and every time, stickto your guns and you will succeed. You might have a 'shucks, I shouldn't have sold it', every so often, frequently in fact, often so many times that you question your discipline. Don't question it. Discipline is what sets this apart from gambling and keeps you earning returns for years down the road. Those without discipline get a home run every so often but burn up and ultimately fail. Regards, Steve@yamner.com

To: Ken Wolff who wrote (37)	1/7/1998 1:07:00 AM
From: Ken Wolff	Read Replies (4) \| Respond to of 2120

Rule #3: STAY AWAY FROM LOW VOLUME STOCKS Low volume stocks generally have larger spreads and move extremely fast on low volume. What goes up fast, will go down faster. If you are on the wrong side of a low volume stock trade, your losses can be excessive. My only exception is if I got a story several minutes before the market close, and I knew the story to be exceptional. Then I would do a market buy. My advise is don't play with excessively volatile stocks and low volume stocks. Ken mtrader.com