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Strategies & Market Trends : DAYTRADING Fundamentals

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To: JavaAdict who wrote (909)6/17/1999 4:57:00 PM
From: Richard Estes  Read Replies (1) of 18137
 
I have the belief that the stock topics on SI,yahoo, aol, and etc. are a waste of a mature trader's time. The information on them can be led by someone with an agenda or at best the blind leading the blind. Most of the topics have cheerleaders posting every little move, cheering the stock on like it was a real enitity.

A trader should have a prime concern for Price and Volume, the stories, the rumors, the predictions only take your focus away from the key elements. Someone who knows his way around in the market, should make his own decisions, when you give yourself up to a stock topic, chat room, web page for your information or decisions, you lose that independence.

Eric went the right way as most of the better topics by saying no Picks. The other thing I mentioned is where people see the need to post what they traded or not traded each day, thinking it is important to those that make their own decisions, to hear what they did.

If you don't make your own decisions, you live or die by those made by others. To share methods and ideas is a good thing but each experienced trader should be aware of the lurker or newbie, who sees power in their printed word. There are too many that don't do their homework.
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