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

To: Ken Wolff who wrote (1890)	4/4/1999 12:55:00 AM
From: Roman S.	Read Replies (2) \| Respond to of 2120

In my situation, I use RTIII with a list of about 50 stocks in the marketminder window. I use sorting of Points gained as the first sort, then total volume as the second sort. I usually just play from the long side. By watching the top of the page, it will show me all the leaders in my list and easier to watch which ones are getting the volume. The list gets updated daily by screening the morning news. The trick is to have the patience waiting for a definite sign of which stock is the mover of the two or three that I'm deciding between. Too many times, I have 2 stocks at the same price range and haven't waited the extra 5 minutes to see which one is going to get the action. Prime example was DDIM and GARD on Wednesday. Both were at $4.00 and GARD was OTC BB with no profile to look up and DDIM had a profile with a very low pe. I went with DDIM based on fundamentals and a few minutes later, GARD started upticking. I was fuming. I have limited funds and a pure cash account which usually allows me one trade per day. After that first entry, I don't have enough capital to catch that 'right' trade after it shows itself. Patience is the biggest key to recognize who's getting all the buys after 10am. It might cost you an 1/8, 1/4 more to get in, but it's better to get a sure runner instead of a 'maybe'.

To: Ken Wolff who wrote (1890)	4/5/1999 4:32:00 PM
From: Ken Wolff	Read Replies (1) \| Respond to of 2120

My methods of trading are based on trading the traders. We don't trade stocks, we trade other traders. People are behind every blink we see on our screens, making decisions. For this reason it is important to understand the way that people think and behave. For example: Stocks are priced in fractions. People, in their minds, generally think in terms of more even fractions. I call these whole numbers for lack of a better term. Generally a person will ask, for example, for 1/2 glass of water, rather than 9/16. For this reason, stocks tend to change directions at these even fractions. Why? Because people tend to think in terms of buying a stock at 12 rather than 12 1/16. They also think in terms of taking profits at 1/2 rather than say 11/16. No one thinks to himself, when that stock gets to 13/16, I'm putting my order up. They tend to think in terms of 1/4, 1/2, 3/4, and whole numbers. Ken www.mtrader.com