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

To: Wes Stevens who wrote (1641)	11/20/1998 6:09:00 PM
From: Ken Wolff	Read Replies (2) \| Respond to of 2120

Hi all, Here is a screencam movie of how we anticipated the bottom of a momentum stock. mtrader.com This is a real-time capture of the CMPL IPO on Nov. 20, 1998 moments after it started trading. Ken www.mtrader.com

To: Wes Stevens who wrote (1641)	11/20/1998 6:18:00 PM
From: Ken Wolff	Respond to of 2120

A trader's timing is EXTREMELY important in keeping a stop loss... If one attempts to get out of a stock too late, he will be selling when buyers are few and far between. That's where "RESOLVE" must be formed in one's mind. "the stock market giveth and the stock market taketh away". Knowing when conditions are RIGHT for higher percentage trading is just as important as the ability to trade. Ken www.mtrader.com

To: Wes Stevens who wrote (1641)	11/21/1998 9:36:00 AM
From: H-Man	Read Replies (2) \| Respond to of 2120

Does not matter. If you have hit the stop you are done. period, because: 1. The chances are that as the stock goes down you could sell and buy back at a lower price if you still want the stock, 2. Big selloffs hapen,, its potential deadliness to your port folio is far too great a risk, get out, back in if you want,, manage the risk. I have often sold only to buy at a higher price when the sitiuation changes,, GERN is the classic example. I bought at < 7, sold at 9, as the stock slid back to 7, and oscilated, at the end of the day, the stock was strong, bought at 10, sold at 21 the next morning., so I missed $1000, that was the price for managing the risk, and instead of making 13,000 I made 12,000. The same would be true if the stock slide below where I bought it and sold at a loss. Do you want to ask your question again ??? ;-)