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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (677)	10/31/1997 7:14:00 AM
From: Tim Fierro	of 12617

One question. Do really think that someone with no experience can be successful at daytrading by taking a 2 or 3 week course?? sounds ridiculous to me. I talk to my uncle a few times a month and I had mentioned that I like to 'position-trade' to make a little profit here and there. I was mentioning how I recently left my job and am looking at how I can become better in position trading that I could make a small living since my wife also works to keep us going. I have given myself 3 months to hang out in my extra bedroom turned into an office to figure out if I can become profitable on a constant basis. If not, I will just go look for another job. If I can, then I will just do position trading and be a Mr. Mom. <g> My uncle metioned this to his son and his son called me for information. He was going to give up his job after 7 years at a company and he is currently a supervisor there and has a family to support. I left my job for personal reasons against the coporate management, not to be a day trader as he had thought. He said he visited 3 Seattle firms that handle day trading and his idea was to take $20,000 and become a day trader as it excited him. After about 5 minutes talking with him, I told him that he should no way even consider this idea. Why? He has no computer experience to do any research, Has no idea what a Bid and an Ask are, Didn't realize that if he only bought 100 shares of a stock, that the commissions would kill him, and he recently bought 100 shares each of a few stocks from Smith Barney and didn't even ask what the commisson charges were going to be. He still doesn't know what he paid for them. This is naive. Now I am no day trader making a killing and only recently started beginning to understand what I am doing. :) For background, I have been utilizing fundamental analysis for about a year and then over the past couple of months; started to learn technical analysis. So, I am no expert, but at least am concentrating efforts on learning before jumping in. My projection is 3 years to understand F/A & T/A and being able to apply them with some degree of accuracy; IE: profitability. In the meantime, I buy a little here and there and trying to see if I can pick a winner for a little profit. Tim

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