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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Ramsey Su who wrote (1188)11/26/1997 8:20:00 PM
From: TFF  Read Replies (1) of 12617
 
Ramsey: Great questions!......here are my responses:

A successful daytrader is a difficult thing to define. I believe it depends on what the individual is trying to achieve. For most it is hobby, and for a few it is a living. Both can be successful daytraders in their own way.

The occassional daytrader may be entertained by trading or just playing the GAME, for them that may mean success.

For the full time daytrader success is measured by survival. His goal is to preserve his capital while being profitable in the long term. It is like any other business and must be viewed as such. His profit goals will be his own measure of success.

There are limitless ways to trade and therefore no 2 traders are identical. Obviously most successful daytraders share many of the same behavior patterns and follow similar rules. Beyond that it is doubtful that all traders would be successful trading the same securities.
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