Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: Bilow who wrote (1057)	9/17/2000 12:16:03 AM
From: Jon Tara	of 1426

10 to 20 round-trips a day? That's an awful lot of work for $300/day! I will typically go for a 3/8 move on 1000 shares, and hold for more if proven by the market action. That is, I won't go into a trade with an expectation of less than a 3/8 profit, but will let profits run. There's your $300 in a single trade. Question: should your day-trader quit for the day if he achieves that? Personally, I find that my results have improved since I have reduced the number of trades that I make. My goal right now is to make two round trips a day. I try not to do more than 3 or 4. I just don't get it why so many day-traders feel compelled to make as many trades as possible. I should add that I only trade mornings, so that is another factor affecting the number of trades I do.

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