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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: funk who wrote (1239)	9/12/1998 5:20:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 7382

When you recognize the signals telling you to hit the button, and you do not hesitate, but confidently and quickly act on what you know, man it works. the classic frustration is when you see the signals, know its go time, wait a few seconds, then a few more, and then ten other guys did what you knew to do, now the market moves, you get a partial or no fill. funk, I feel like I could have written that. I love this day trading, even though I'm doing it thru Fido Spartan, because I do just as you are doing: get in on a limit order, stay if the factors are in my direction, immediately exit when they flip. It is not at all like like gambling at that level. It is 90% my ability to focus on the factors, and to stick to my resolve to exit with the signals. The luck part is only whether the signals will stay with you once you enter. Sometimes they do, sometimes they don't. Bu if you exit when required, you can easily get in for the next potential trip. I also agree with you about highly liquid stocks. I won't trade DELL at Fidelity because it the fills are not efficient. I trade INTC because the fills are happening within a second or two. At my limit. Pretty consistently. With only a 1/16th spread. I know its not MBT, but it works. Best, Gary Korn

To: funk who wrote (1239)	9/12/1998 5:40:00 PM
From: TraderAlan	Respond to of 7382

funk, <the classic frustration is when you see the signals, know its go time, wait a few seconds, then a few more, and then ten other guys did what you knew to do, now the market moves, you get a partial or no fill> Well, well said. That moment shows what a competitive game this is. The strongest message after my first month with this new system is don't enter the momentum. Enter the moment just before the momentum. The money knows where the day traders can be trapped now. Example: look at the dagger pits ASND traders got dropped into this last week, right after every move up. Alan

To: funk who wrote (1239)	9/13/1998 1:18:00 AM
From: William W. Dwyer, Jr.	Respond to of 7382

Funk, very good reply. Let me "ditto" everything you said. Very good advice all around. Bill

To: funk who wrote (1239)	9/13/1998 3:41:00 PM
From: Nazbuster	Read Replies (2) \| Respond to of 7382

funk, Thank you very much for your trading comments. I can really relate to your point about choosing high volume stocks that do not trade too fast. Because I've only been doing this for about a month and the market has been so volatile during this period, I think my view of it is distorted. I've not traded thinly traded stocks. Spreads are usually awful. I can now see why Cooper, in his Hit and Run Trading, recommends NYSE issues at $50-$60 prices. They are much smoother in their price changes. I've observed some "runs" that lasted 3-5 minutes leaving plenty of time to hop aboard: 1000s of shares going off at ASK with huge imbalances in Bid/Ask. I'm still developing some perspective on this, however, and do not yet have a good feel for the relationship between Bid/Ask balance and price movement based upon average volume. I sometimes see huge imbalances without any influence; other times, a balanced Bid/Ask results in rapid price movement. Go figure! In any case, I'm excited about doing this full-time someday. One of two things has to happen: make lots of money at work so I can spend 3 months practicing; or, get pretty consistent in my trading so I'm confident I can do it to support myself. I'm starting with enough cash to trade 1000 shares of most stocks (sometimes using margin). I only have one issue active at any time. If I can do 5/8 point a day on average, I can switch to full-time. If I can do 1 point or better, I'll be very happy! I really need to go full time so I have the time to read news, study charts, learn strategies, and set up strict rules for my trading which are OBJECTIVE, MEASURABLE, and SOUND. Thank you for your generosity and willingness to share ideas.