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Non-Tech : Internet Trader

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To: ET who wrote (619)7/3/1997 8:34:00 AM
From: Ed Herlihy   of 2125
 
Gary,

That is a very big and hotly debated question amongst all non-professional traders. If you have not traded before on you own, I would suggest that making 10-20 trading decisions each day will take many months of practice or I suspect you may incur some losses if you jump too quickly.

Internet Trader is clearly a great startup learning tool and the cost cannot be beat. However, even long time traders have found the automatic quote grabbing techniques and chart creation of IT pretty good. Since I am a very new trader, I cannot suggest whether high end tools will be required, but of course the sellers of TradeStation and similar products would disagree.

There are several other threads here at SI that will better answer your question, but it takes time to read the 1000's of messages. Consult with various sources and recommendations and keep you initial monthly investment costs at a reasonable percentage of your investment (trading) capital and you should be OK.

You might also check out IRC chat rooms #rttrader and #daytraders on the Undernet. Access to the undernet is explained at www.undernet.org

Good luck

Ed
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