Mark Moskowitz: No. I'm not really thinking in terms of dollars. I think in terms of percentages typically. So, my stop-loss is going to typically be 1% of my capital. And I'm usually going to try to make anywhere from 2% to 3% of my capital everyday. So, just to keep the numbers round, if I have an account with a $100,000 in it, I'm going to loss no more than a thousand and I'm going to be trying to make somewhere between 2000 to 3000 everyday. And for all you guys who love leverage out there, I'm not talking about your leverage capital, I'm talking about your actual capital. To me, if you're willing to loss 1% a day and you're able to make 2% to 3% a day those ratios are great. You don't need to be 80% right with those kinds of ratios, you just need to have good trades, good solid trades all day long. Once you get into that area where you're getting close to being down $700 or $800, you got to start to re-adjust like we talked about before. So I look in terms of my capital. So, if I have in the middle of the month, if I build my account up from a 100,000 to 120,000 that may change, that's going to eschew my numbers. It all depends on how big your capital gets.

TraderInterviews.com: On the business side of things, how do you decide, do you pay yourself a salary, do you take money off the table every once in a while, what do you do?

Mark Moskowitz: I try to keep as much money on my capital account as I can. So, I usually will pay myself a set salary and then anything above that I will keep in my capital account.

TraderInterviews.com: OK. And at the end of the year, are you reviewing how you did...at the end of 2008, did you look behind and say, here's what I could do differently for next year and maybe make some changes to any of your strategies or thoughts about the markets going forward?

Mark Moskowitz: I do that every weekend actually. I don't wait until the end of the year. And I will do an annual recap, I guess it's probably what you're trying to say, but for me I journal everyday like I said before and I review them every weekend and I like to look for recurring themes. I've been doing this for a long time now, so my journaling has kind of evolved from really more of a strategic journal to really more of how can I keep building and moving forward type of journal because I'm very happy with my strategy. I'm not planning on changing my strategies at all. I believe it works in rage in bear markets, rage in bull markets and everything in between. So, I feel very comfortable with my strategy. For me, it's really a question of where I can improve on the mental side of things, maybe I'm not taking enough risk, maybe I need to be taking more risk and also those weekends I'm trying to kind of create a little bit of a macro theme for the following week. What happens last week with the market? Are the bank still in charge? Are there other names that are in charge of the market? What economic news is coming out for the week? Is it early in the month? And we're going to be looking at job numbers, what kind of things like that. So, that's really more or less what I'm trying to look at every weekend.

TraderInterviews.com: And you do the news, it sounds like you watched that and that will impact a trade that you make? How much of a factor is it after you've looked at the technical side of things?

Mark Moskowitz: It's not that much of a factor except for just understanding what's out there and what moves market. So, am I purchasing or shorting Apple because of a jobs number that's coming out in three days. No, not for the 10 minutes I'm going to be in it right now, but I just want to know what's going on. I just want to have a feel for what's happening, what events are out there that are going to impact what happens this week. That way I can just be ahead of it. A lot of times, you'll be in a trade and the President will start to speak and your stock will do something for no reasons. So, if you know that the President or Bernanke is about to speak, well maybe you want to get flatter, maybe you want head just a little bit or come down at near volume a little bit or do something like that. So those kinds of things might impact my decision making a little bit, but for the most part it's technical. It's 90 something percent technical for sure.

TraderInterviews.com: I'm looking at my notes, the one question I haven't asked you yet that I like to ask everybody is what percentages of your trades are long versus short these days?

Mark Moskowitz: I don't really know that. That's a great question. I've never sat back and analyze the actual percentage. Obviously, in most of 2008, it was probably a very high percentage of being short. Because of my time frame, I have no problem shorting stocks that are very big for the day because the market is doing well it doesn't mean I won't short something. I might just...my short might just be very, very quick. I might go in with a lot of size and just really look into the chart to make a few quick pennies on it. So I actually wouldn't have that number for you at this point.

TraderInterviews.com: So, it sounds like you're just as comfortable going short if not more comfortable for you, that's a lot of issue for a lot of traders too for whatever reason they have this thing about shorting stocks, it sounds like not an issue for you?

Mark Moskowitz: I have no problem shorting stocks. To me, it's a natural part of the process. You have to, I believe, be comfortable shorting names because there's just as much opportunity on the short side as there in the long side and just flip the chart upside down if you're having trouble getting around on it.

TraderInterviews.com: Right. I'm finishing up with this that you did mention that leveraged ETFs, how much trading are you doing in those two and three times these days?

Mark Moskowitz: I've been trading them quite a bit very heavily especially with them at these lower prices SKF which was $240 which was $45 or $50 now, so I'm trading them pretty heavily and they were great, I mean the pivots looked beautiful with this and they give you a nice stop out and they're giving you a lot of good upside potential and right now I would say that SKF is probably about 40% of my trading at this point.

TraderInterviews.com: Are you adjusting your size based on risk because of the extra speed in these types of securities?

Mark Moskowitz: I do, but at the same time it's a little bit built-in to the pivot point anyway because again you're getting that calculator, so it's kind of telling you exactly what to...how much risk you're taking, so I'm able to gauge just from pivot point calculations how much risk I will be taking.

TraderInterviews.com: All right Mark, well thanks very much for taking the time to share some of your strategies, I really appreciate it. Listeners, of course, if you want to find out more about Mark, he's got a website you can go to DayTradeWell.com, we'll link too in the transcripts of the show as well. Mark, thanks again for your time I appreciate it.

Mark Moskowitz: You're welcome Tim, thanks for having me on.

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