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Strategies & Market Trends : The Amateur Traders Corner

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To: chester lee who wrote (8512)	4/22/2001 5:59:54 PM
From: Mama Bear	Read Replies (3) of 19633

"day traders ran up such high commission bills by ricocheting in and out of the market that they must earn 56 percent returns just to break even. " Twaddle like that amuses me when I read it. I don't know how he came up with that 56% number, but the highest year for me when I was daytrading was about 20% of initial account equity spent on commissions. Uncle Sam took a bigger chunk than my broker. I'm not sure why it's so important to some that 'daytraders' be failures. It seems like it's very important to a lot of folks that the method they've selected be the 'right' way to invest. BTW, if I recall correctly the SEC 'study' was an examination of the records of one firm which had that many 'daytraders'. Regards, Barb

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