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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: majormember who wrote (370)	5/16/1998 9:46:00 AM
From: Russell Gish	Read Replies (1) \| Respond to of 59879

Skane, Just curious, no my name is not George, where did you get your info/rumor/tap on the shoulder that PLNM will be ascending in a vertical manner? Thanks, Russ

To: majormember who wrote (370)	5/18/1998 8:26:00 AM
From: TATRADER	Respond to of 59879

Hi everyone, I am going to try and follow a new ritual...I will do my daytrading Monday-Thursday from 11:45-1:00 P.M. when I do not have a work related luncheon(today I do)...I will do my studies from 5:00-6:30 A.M....And on Friday I will spend 3-5 hours trading...(Friday is my day off)...The reason I am doing this is because I feel this internet has got an addictive hold on me, and I will not be mastered by anything...I will attempt to answer all posts...As far as the contest goes, I am going to attempt to be in the top 10...The reason I am now convinced that I cannot win is because the two top traders are on their monitors 8 hours a day, and I can't compete with that...They are riding stocks like XYBR and when momentum shifts as it did Friday, they exit with huge profits...Since I am not on my monitor more that 1 1/2 hours a day, there is no way I can beat them at the game unless I devote 8 hours to the game...(which I just don't have).... As far as momentum stocks go like PLNM, where Mex has got the market moving, here is a strategy... 1)Try to catch the move on Day 1 2)When you enter, immediately put a sell stop 3% below entry... If your stop gets hit, your timing was off, and move on to another stock.. 3)If the market is moving in your favor, once the stock moves up 10% from your entry point, move your stop up to the price you purchased the stock at... 4)Once the stock has moved up another 10%, move your stop up 10%.... 5)Follow this procedure until you get stopped out.... Note how I used this strategy on IRSN successfully Friday.... I should have set my trailing stop at around 3.75 when the stock topped 4.00 on Friday,(it was set at 3.50) but I thought, hey, I have to give it a little extra since there might be some profit taking at the major resistance point of 4.00...The stock moved to 4 3/8 and then momentum shifted...My stop got taken out at 3 1/2...But I was happy, I made a successful trade, and made money...The reason I re-entered under 3.00,(2 7/8) is because I did a quick study on my Gann Retracement, Fibonacci, and Volume levels, and figured they would be buying again at that level....But as you know, I exited again with just under 1/4 point...Regards, Mark