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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Craig Bartels who wrote (4852)10/12/1999 5:21:00 PM
From: Eric P  Read Replies (2) of 18137
 
Investors in the CBS MarketWatch poll, to the tune of 49 percent, said no when asked, "Do day traders know what they are doing?"

I would hate to generalize whether "day traders" as a whole "know what they're doing". Obviously, this is an inappropriate question because some daytraders are very profitable, and some are heavy losers. The profitable ones certainly must "know what they're doing".

Now, let me change the wording of the MarketWatch poll question... Do you agree or disagree with the following statement:

=> At least 49% of those actively day trading today do not really "know what they're doing".

Put this way, I have to agree with the statement. The ones that "know what they're doing" are profitable, at least by my definition. And profitable daytraders are likely to be less than 50% of those that day trade.

May we on this thread always be "in the know"...
-Eric
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