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

To: Tom Hua who wrote (434)	2/1/1998 9:16:00 PM
From: Ken Wolff	Read Replies (4) \| Respond to of 2120

Tom, I am tracking this exact pattern as a potential play. Need more data to confirm it as a high percentage but I think this is really one to watch. Good on ya for recognizing this pattern :) Lets track it together and see what shakes out of the wash.... Thanks for leaving the stock ticker out. Opens pandoras box ;) Speaking of having a plan prior to entering the battle grounds. It is "a must" that you have a plan, or a watch list prior to entering the trading day. I email all my room members just prior to the open with my watch list as well as a specific plan such as "open shorts" and stocks to buy at first bottom. Sure the plan changes at the bell and we ALWAYS let the stock action determine our course of action. We change with the tape as it were, but it gives us a place to start and a direction to look. Otherwise you get overwhelmed by the rapid influx of data at the bell. Before I started emailing this pre-market advisory, the room was less focused, chaotic and overwhelmed at times. Once I started doing this our percentages increased, the room began to focus more, and less trades slipped through our fingers as we were ALL working together as a team on the same sheet of music. Without an open plan you are just cattle following the herd and more apt to follow the crowd into a bad trade. Write this one on the wall also :) Cheers Ken mtrader.com