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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (974)11/14/1997 9:18:00 PM
From: steve goldman  Read Replies (2) of 12617
 
Needless to say, today was a great day. I did about 2 trades in the morning before getting absolutely swamped by customer calls and then met a pretty interesting gentlement for a few hours in the afternoon. I can't tell you how stressful it is to be in an engaging conversation in one ear and in the other ear, hearing your assistant traders frantic with business and in the corner of your eyes, seeing your stocks clipping up 1/4 points at a time. Well, I missed some great daytrading but such is the job of a paid professional who's job it is to work for others.

Anyway, great day for long term investors. I had a few stocks I have been buying the past week which were up on average 2 to 4 points the last two days.

My point...you have to properly allocate your assets so that you are not day trading 100% (or more) of your cash. prudence probably says you should have some cash in longer term, more stable investments which adds diversification toyour investing.

For instance, my WDc which I had been buying down to 19ish yesterday, was up to 23 ish today. Noway I would have been in there for 4points, maybe 1/2 or 3/4 if the stock really ran fast but noway do I hold out for 3 points on a trade, only long term stuff.

Don't forget that you shouldnt be trading 100% of your assets.

Regards,
Steve@yamner.com
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