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Non-Tech : Waterhouse Securities
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To: Bill johnson1 who wrote (633)7/27/1998 7:11:00 PM
From: richard  Read Replies (1) of 2076
 
Dear Bill, to successfully daytrade you have to have a at least a Level 1 real time data feed of stock quotes . If you hold a position overnight you had better know what the news events are going on with that particular stock or be prepared and accept the risks of income averaging down . (risky) So alot of daytraders close out their position at the end of the trading day , just because of the example of what you said earlier of a crash on the open. I had close stops set on Best Buy ( too close ) and the stock opened 2 points lower at the open and triggered my stop loss . This happened last year when the stock was trading at $21 , I sure wish I had some now at that price . Check out www.wwquotes.com they have real time for $30 or so a month (canadian ) you may like it . It's not the best but it's cheap. One thing I do is that when the stock gets real close to my target price I make sure I am logged on to the online brokerage network and even load up the price if it's real close that way if you are in the money you can just sell at the market if the price goes against you and you don't think it will recover or it's late in the day . If you decide to take it mention my name , I think they have a trial if you want to play before you pay . Remember , do you own homework . Best of Luck in your investments. richard
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