Friday, January 20, 2006

trading in pairs

Trading without a plan will empty your wallet very fast. With a plan, you can make sure your not screwed as fast as if you didn't have one. When day trading fast moving stocks, use LIMIT orders. Put your order on the same side as the primary trend of the stock and the trend of the markets. Use the tick and trin indicator (tick nyse or trin nyse) for advance/declining issues. PUT IN THE STOP LOSS ORDERS AND LIMIT ORDERS IMMEDIATELY! Set up your bracket order defaults for the stock your gonna trade ahead of time. There is too much stuff going on at once to monitor many stocks. Stick with a couple you can make money on and follow them closely. Trade if its got a trend.


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