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Strategies & Market Trends : Trading For A Living

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To: Eric P who wrote (190)	5/23/1998 12:16:00 PM
From: Ed Herlihy	Read Replies (1) of 1729

Eric: I have read your 2 descriptions of your system. Real time scanning of 3000 stocks AND all the level 2 info..which generates automatically entry and exit points? Wow. If that really works I would suggest you get a Web site up fast with some demonstration of results. If true, you have a very very valuable product!!! Sounds like if your claims are true, you got a product that ought to be marketed to various trading houses. Your total upfront system costs I assume must have been $15-20,000 and monthly maintenance/data support costs atleast $500/mnth right?? Your description of what you have gone through to develop a "perfect system" again suggests to me that anyone considering daytrading without a real serious review of the METHODS that can be used is headed for trouble. And again its looks to me that anyone with less than $100,000 of "free capital" is unlikely to suceed "in making a living" in daytrading, unless they score 4-5 "homeruns" in the 1st 6 months and then retire on the interest payments from their account. Congratulations on your efforts, but on the whole I found your process indeed discouraging to the "average guy" considering daytrading from home or office on a $150/mnth data expense budget and a simple $2,000 computer setup. I think that is why the trading "houses" are starting to catch on. Ed

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