Replies to post #262210 on Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

>>how do you decide when to sell?<<

Buying is easy. When to sell is the hard part. i don't know if I can answer your question. Different trades have different strategies. In the QQQ day trade I would like to see a 20-30 ceny reward potential for putting 10 cents at rsik. If I have a profit and see the program trades seeing follow through buying I may cover early. Selling also depends on how closely i am following the market.

Do I go long? As i do. I will not carry a long position home at this time. Sometimes I do a short. I am short QQQ now, over the weekend. I do have a bearish bias to my trading, but following the tick makes me more comfortable being long.

[Joe Stocks]

Rick, With the level of program trading that we are seeing at over 50%, I think the program traders are a force that must be recoginized when daytrading. Any tool that we can find that telegraphs their moves would be helpful. The closest thing I can find is the 'tick'. I can see us moving to a time when technical analysis could be used as a tool against the daytrader. We are seeing many more failed breakouts in both diorections. In my opinion, this is where program trader can make his best profits as he sells to buying up breakouts, and buys from those selling going the other direction.