Well said, Morpher. Your right, nobody makes 1, 2 or 3 dollars per
share profit every day. Stocks just don't move like that every day.
On rally days, like Monday and Tuesday of this week, it can be done.
But if daytraders traded only on rallies, they wouldn't be daytraders,
and they wouldn't be very profitable, either, averaged out annually.
Some days we have to scalp an 1/8 or a 1/4, and THAT'S when a quick
execution means the difference between a profit or a loss. Don just
doesn't seem to get this, but I suspect he isn't a true daytrader,
but perhaps a part-time or position trader. Thus, he cannot "get"
the significance of quick executions. If he IS a daytrader, then he's
living on borrowed time if he really thinks timely executions don't
matter! |
