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Strategies & Market Trends : NetCurrents NTCS
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To: Jerry Olson who wrote (5109)12/21/2000 9:46:28 AM
From: Bill Cotter  Read Replies (2) of 8925
 
Hi Jerry; I have some questions about 'the room' and day trading.

1) If you have 100K to trade, what would you expect the average 'pay day' to be? In other words, can you look back at the last 3 months, calculate the average gain/loss per month, divide by 20 (days/mo) and express that as a percentage of your trading capital? I want to see if I can quit the day job.

2) Is everybody in 'the room' a full time day trader?

3) What about the stacks of confirmations. Do you have to manually enter them on Schedule D or will the IRS permit a computer generated form?

4) Do you use more than 1 computer?

I have been investing since 1963 but have never done options. My experience with shorting has not been good. Around this time last year, I shorted a bagfull of high flying blimps. One of them, CMRC, went up 70 points in one day (pre-split)! Lockout expiration helped but I wound up taking a substantial loss.
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