Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Ruyi who wrote (48611)	3/23/2001 7:40:00 AM
From: the Chief	Read Replies (1) of 62347

I did use stops( thanks to your tutelage) buy and sell nothing worked . No sooner did my sells get hit then wham back up or no sooner did my buys get hit then wham plunge.Whipsawed to the extreme and insult to injury I had no less than 5 stocks halted within hrs. or next morning on open . Nicky's comments if one listened my have made one money by doing nothing. Doing nothing preserves capital it doesn't make you money. Many daytraders that became daytraders in the last two or three years had never experienced a massive decline like this before. So many did not no how to handle trading during this kind of market change. The best and easiest approach is to take less profits. During the last 3 months I had increasingly reduced the amount I made on quick flips. At the sametime (I am a lousy shorter) I found that shorting was far more profitable, and for the first time in many many years I carried a short overnight.. I copied BB's approach to shorting and became a better shorter (I'm still lousy). The longest time I was in a "long position was about 3 hours, but my average time was around 12-20 minutes. I haven't made a whole lot of money in this market, but I have lost none. My LT acct has suffered somewhat, but I have made it up by doing small daytrades. I have concentrated exclusively on the US market because of its liquidity and I owe my "neutral" earnings to one stock in particular XOXO on Nasdaq. SCMR is now helping me out tremendously. I wish yo had mentioned this before Dagan, because the only way you can lose that much money is repeating an error. Not trying to be brutal here but trying to be honest in an assessment. Anyway, assuming things haven't cleaned you out, I think we can all make some change in this next ralley which started yesterday. the Chief

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