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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Jill who wrote (285942)5/3/2004 11:21:53 AM
From: zonder  Read Replies (1) of 436258
 
I think investing longterm is a questionable strategy

Question it, then :-) In which particular way do you think drawing lines on a chart, and going in and out of a stock within a day is a more logical strategy for making money than thinking up an idea about which sector should appreciate given current conditions and what company will capitalize best in the sector and buying its shares?

I (kind of) understand your disillusion with the whole analyst/strategy/etc system if you lost a significant amount of money in the past couple of years. [By the way, I was not talking about research analysts of brokerage firms before]

Still, it is insane to engage in any kind of financial market activity if you are convinced that you cannot possibly know what the market is going to do and when.

In this light, daytrading is worse for you than long term investing, because in the latter, you can at least beat the market if you have the right idea. In daytrading, you cannot hope to win against the superconnected traders with executions a zillion times faster than yours, most of whom know each other and trade in unison in making the market go their way.

Trading is a bit different, because you get in and out fairly quickly and set stops in case it doesn't go "your way".

Will it be news to you if I say that you can also put stops when you invest in a stock for the long term?
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