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lowtrade

05/04/05 11:24 PM

#1663 RE: trimsprims #1658

trims
You have to free register I think. The info goes away each day it is up dated, so you have to keep records on paper. That way you can find norm's for any number of days, using basic math.

I use;
http://quotes.freerealtime.com/dl/frt/S?toparea=Home

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As for my day trading style, I don't normally day trade any longer, but my portfolio has been slow closing and I decided to go hunting for some action. Kind of an actionhallic.

I only day trade pennies, and we all know the risk there. I've had better success by breaking my orders up during the day. Usually 3 trades with 1/2 first, and then 1/4 more and 1/4 more.

That way I may hedge on any unexpected down trend continuation, or change in movement during the day.

You have to do alot of home work to find the GOOD play. You have to have spec's you want and if the stock doesn't meat them all, I just keep looking. Close is never good enough, close will put you in the wrong play ground.

The things I mentioned here are basically the same for all my trades, I have rules and the rules must be followed to trade. Found way less dissappointments that way.

As for the rules or spec's, you pick them, If they are to high you won't find a match to play, if too low in expectations you'll find to many. If you can find 2 to 4 that meat your specs, after screening 25 to 50 or so, IMO you have the correct expectations.

Pennies, I like, large volumes, a 1 month over all up trend, 10 cents or under, and 2 pops several days apart.

As for buying/selling targets, I normally trade $1k or $2k and look for 10 to 15% a day. Not big money, but fun and good spending money. The only reason I would day trade.

I use targets, after the first buy, my target is 10%, 10% down for the 2nd buy, and 5% up from the 2nd for the 3rd buy. Many times you don't close all 3. In the same respect you hedge the volitility. A perfect day, using this will end up with with around 15 - 17%, 7 - 12% with 2 trades closed and 10% with one, because the sell target for the first is 10%.

Because of the risk factor & volitility, I will except a larger loss than profit day trading and will sell when the PPs reaches 20% below my first trade no matter what step of the plan I'm in. Then move on to another I found the night before.

Try not to trade until after the morning rush hour. If you've been in and out of the stock for several days, you may see an up morning coming and if you got big ones buy into that days morning run. Normally very dumb move. After the first 1/2 daily order is filled, it could go up or down. If it goes up 10% sell and move to the next on your watch list, you got 50% of what you wanted, if not wait. Then play out your plan.

PS: I have a 25% target for my day trade, because I expect a large pop soon and have step 3 to close tommorrow 5% up from the 2nd today and Then I'm holding for a 25% swing trade.