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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: jaytee who wrote (671)10/30/1997 5:20:00 PM
From: TFF  Read Replies (2) of 12617
 
Just finished reading the Smart Money magazine article on daytrading:

Here are some thoughts:

1) SOES trading is definitely not for me! it takes to many trades to make a buck! the only people who make money are the SOES firms!
Trying to squeeze an 1/8 or a 1/4, 20 to 40 times a day is not my idea of fun.

2) Daytrading requires one essential skill - the ability to determine the direction of a security in the very short term. There's no beating around the bush on this. If you can't determine short term directions of securities your gonna loose your money sooner or later. If you can, you will join that small group of successful traders who consistently make money day after day.

3) Assuming you have that uncommon ability to determine short term direction, you may as well make larger and fewer transactions during the day and ride those positions for larger gains. This not only will make you alot more money but will save you alot of money on slippage(commissions,spreads and market movement)

4) At home trading offers a distinct advantage. If you are not trading well..hey! your at home! relax! Looking at those poor slobs in those daytrading firms make me ill. One of the reasons I daytrade is freedom!
Those guys in the daytrading firms look just like every other working stiff! NO THANKS!
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