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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: kendall harmon who wrote (75047)12/11/1999 1:34:00 PM
From: Jenna  Read Replies (4) of 120523
 
Margin - daytrading.. I never use margin. After trading only a few months I got a little pink on Friday after 3:00 that if I didn't cover 4,500 immediately, they would begin selling my holdings. I thought that was a lot of nerve since I had money in the account and stocks way over $100,000 nor did I understand the implication. After a hurried call and run to the bank I sent a wire transfer to Penson Financial.. I almost didn't make it since it was close to 4:00 but the experience soured me on the whole deal. This was in early 1995 and I never did margin again.

AS for the daytrading..The media should know there are close to 37,000 daytraders and the numbers are growing. There is a definite new wave of 'education' which will actually undo the damage of firms like Ameritrade, E-trade, DLJ or whatever company makes everyone think its so easy to daytrade.. Then when the daytraders get into 'trouble' they get attacked.

Well perhaps with the new education that will turn out well-trained traders with strategies and risk management tools instead dangling $9.95 for a trade, a wonderful instant execution system and no idea of really what to do with it. What I envision is the average daytrader will do much less trades a day. The trades will be well planned and tracked and the trader won't be stumbling in the dark.

Perhaps the brokerages will make less money because traders will traded 3-4 times a day and not 20 but make a good deal more profit in those few trades. Traders will also learn to 'hold' their positions from 1 day to 1 week and possibly more and that won't endear them to Ameritrade and others either.

And while we're on the topic, let me talk once again about analysts who dare to take $75 to $150 on a 10 page stock analysis while we can get those for free on many websites.
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