parker, I think this is why we differ so much parker in opinion.
Yes, I see you are befuddled. It's not a comment on predicting or lucking into a big gain or loss...it's a comment on strategy. If you are taking positions where you are willing to risk 30% on NT...but have profit objectives measured in quarters...it's simply not a sustainable strategy. Someone could have an incredibly high win percentage and would still end up a loser. The problem is, people are trying to scalp counter to the primary trend, with win potential small, loss potential huge. If you want to take pennies for profits, you need to make sure to keep losses are similar...there would be no way to hold NT overnight and do that. It would only a matter of time until one less trader on the thread.
i never pre-suppose any strategy is better than another. I believe that "what ever works for you" is "thee strategy". I personally "flip Nortel for 25-40c alot, I also buy 2-4000 shares while doing it.
Daytrading isn't trying to grab the big one, its trying to grab the many small ones, and getting occasssionally lucky and getting a winner. How people flip a stock is really none of anyones business. because:
a) they don't know that persons bank balance
b) their personality and ability to control emotion
c) their style
d) their tolerances
The only thing I recommend that all styles incorporate is "stops", some don't use them.....they aren't here anymore. Some still don't use them, they eventually will be gone...but that is a guess, some are very lucky.
i am not a great fan of holding overnight, as a result I have missed out on some tremondous profits. Many people here have reaped these profits. A $15.00 loss on Nortel is the price you pay, but for some that still has paid handsomely.
the Chief |
