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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Herc who wrote (4037)9/15/1999 9:13:00 PM
From: OZ  Read Replies (1) of 18137
 
Buying and holding onto a promising stock for 3-5 years definitely has been more profitable but definitely takes more CAJONES.
WRONG
Your statement combines elements of the FUTURE "holding onto a promising stock" and of the past "has been more profitable". You cannot have both. Holding on to a promising stock only pays when it delivers the promise. If you want to pretend that you had bought an AOL or a AMZN for nothing in a fully margined account and made 800 or whatever points in 5 years... Then we need to level the field by saying well I could have bought X stock this morning and rode it up for 20 points at which point I shorted it and took it back down 15 points and immediately turned around and shorted SNMM for another 10 points. In other words, if you had magical abilities, day trading and swing trading would make the most money. By the same token, as long as the abilities are equal, i would say that short term trading is always the way to quicker gains and losses.
Any little coward can dart in and out, which is what I usually do.
RIGHT and WRONG
It is the supposed long term investors that inadvertenly get shaken in and out of their positions during unplanned shorter time frames that line the pockets of the daytrader. Converesly, it is the Short Term Day or Swing trader that cannot accept his loss and lets it turn into an investment that is separated from his capitol. Both are losers and truly the coward when they fade their plan. Buying and holding a quality big cap for 3 to 5 years does not take any COJONES whatsoever and is not as profitable but is the way to go for a person that wants to make more money than in a bank account but does not want to become a student of the markets...

regards,
OZ
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