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Strategies & Market Trends : Trading For A Living

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To: jawd who wrote (726)	7/5/1998 7:27:00 PM
From: R Stevens	Read Replies (2) of 1729

Just want to acknowledge the great discussion about daytrading. For anyone who thinks that system trading doesn't work, I recommend the chapter on Ed Seykota in Market Wizzards. I don't trade that way but I am reading about it in a free book I got from the makers of TradeStation. It is advertized in Investor's Bus. Daily. The book is called Trading As A Business. When you call up they will ask you if you want to try out the software also, but I said I just wanted the book to read and there was no problem. So far the book is good reading. Sometimes my trades are daytrades, but I only have real time quotes and Datek, so my access is not immediate. I think I need to move up to the Level II quotes and the real time trading like MBTrading or Castle. RS ps: Ed Seykota was asked about his three top rules in trading...he said, #1 cut your losses, #2 cut your losses, and #3 cut your losses. (sounds easy, looks easy...so does Pete Sambras's volley game at the net at Wimbleton...like tennis trading takes practice and instruction and equipment and determination to succeed)

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