Robin Dayne - Mastering your Emotions Message Board

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Pastimes : Robin Dayne - Mastering your Emotions

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To: William W. Dwyer, Jr. who wrote (107)	6/14/1999 8:43:00 AM
From: JB2	Read Replies (2) of 121

Bill, Haven't heard of RD since we chased her off SI. Maybe as a newbie trader she has been trying out her ten rules and found them insufficient. Your comment about level 2 tapes showing up for sale on cable tv is probably on the mark, and in the works by someone as we speak. Heard recently that the top uses/abuses of computers in the workplace are no longer by employees going to internet porn sites, or game sites, but to ticker threads and online brokerages. This whole stock fever culture reminds me of disco fever in the 70's, when half the marriages in the country broke up and everybody started hitting the bar scene. Now instead of "what's your sign" all you hear is "what stocks are you watching" and "do you trade online". It's a fad, and I wouldn't be surprised if Arthur Murray came out with a course: "Stock Trading in 12 easy lessons". "In just 12 weeks you can trade stocks like the pros. You'll learn all about moving averages, advance decline lines, fibonacci numbers and more. Let our trading coaches help soothe your volatile emotions"...and coax you into throwing good money after bad. Problem is, as you've probably heard, there's a dearth of good money managers around, as corporate headhunters can attest. Every day a new mutual fund is created but there just aren't that many good fund managers to run them. Likewise there aren't that many good experienced traders around. Everytime you hear of a new daytrading outfit opening an office you have to wonder who's going to staff it and if they have any experience trading. Of course there are plenty of old stockbrokers around, who have tried to learn to trade by churning their client's accounts but that doesn't make them "master traders". Wade Cook's admonition comes to mind "To whom are you listening?"...

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