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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (755)	7/6/1998 6:30:00 PM
From: Darren	Respond to of 1729

Do you have a time limit for each trade beyond that of your 2 tick "stop loss" method? I am extremely patient once a trade has turned positive. I do have the habit of waiting too long, actually killing profits sometimes. But, I play for the 1/2 and I sell at any weakness once I get past 1/4. I don't mind taking chances with someone else's money. My best plays are 2000-3000 share purchases in the same stock that I let run all day. When I settle on ONE (or two) stocks per day, I do great. When I start "getting cute," I fail every time. 1. Do not hold overnight There are situations when I will hold overnight, but it must be an overnight trade -- i.e. planned. I will not hold a loser in the hope that I can get my money back tomorrow. I don't even like to hold winners. But, there are a couple of situations when I will go for it. Strong close, news play, or when I feel like I know what Futures is doing...picking the right stock is very important in such a play. Here we have traders that quit at their profit objective. Many do that. I don't. If I'm having a good day, I like to see if I can continue. I will never give up more than half my gains though for any particular day if I can help it. Also, I am happy to take what the market gives me... These things that we are talking about are pretty much the fundamentals. They are probably covered in most day-trading books...