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Strategies & Market Trends : Successful Short-Term Trading Strategies for Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (1)	8/8/1998 7:35:00 PM
From: G. Gilbert	Read Replies (1) \| Respond to of 78

Have you any suggestions for websites or books that are good starters for learning the art, or science, of the short term trade? On another note, I agree with your post that a bird in the hand... I haven't made a trade yet that has not increased at least 10% within a few days. Unfortunately, knowing when to sell, the more important part of the trade, is not one of my strong points and therefore has kept me on the losing side of almost all of my trades. I'm new to the game but am willing to learn from my mistakes and from the ideas of others. This thread has great potential and I'm looking forward to learning from it. Cheers, G. Gilbert

To: Joe Copia who wrote (1)	8/8/1998 7:40:00 PM
From: Don Pueblo	Read Replies (1) \| Respond to of 78

This is good advice. I'll tell you a true story. I know a guy that bought WCAP at 9 before it ran up. He got 10,000 shares. He was convinced it was going to 14. It ran to 13 and he did not sell. He held it as it slid back down and he sold it for 4 bucks. I saw it happen and I can tell you he was not a happy man. The market doesn't care where you think the stock is going. I shorted that stock at 11 on its way down and took some of my friend's money away from him.

To: Joe Copia who wrote (1)	8/9/1998 12:19:00 PM
From: richard	Respond to of 78

Dear Joe , Good comments !!! I would add one thing that requires dislipine (freudian slip :) if you have a position that you want to keep overnite or for the intermediate term . Risk no more than half your profits once you achieve a 10 % gain so you would always have a at least a 5% gain . Never let a daytrade turn into a longterm holding because you are frozen with fear if you have a position go against you remember if daytrading you can always buy it back 15 min. later at a cheaper price. If you are daytrading remember that alot of times you are trading on short term news , use market swings to your advantage to sell into intraday spikes , and if the stock shows a increase in volume and the stock is ticking up , take the trade and set your stops real close . A daytraders mindset is something that takes some getting used to . If there is good news out on a stock don't think it can't continue to move after a short intraday consolidation , I made that mistake Fri. on EDS sold in the morning didn't watch the close and it moved up 2 more point in the last hour . I look for PEP to make a good move in the near future. Just my own opinion do your own homework. Best of Luck richard