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Strategies & Market Trends : Trading For A Living
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To: TraderAlan who wrote (1082)8/5/1998 5:51:00 PM
From: Dave  Read Replies (4) of 1729
 
TraderAlan, the reduced commissions quoted by JPR Capital actually add up to about $2,400 a month assuming 30 round trips per week. This is a fair amount of money in my opinion. I am in no way recommending this company, but I called them today and they told me that they have been in business for about 3 years. I asked them how they can offer commissions that are about one half of the going rate, and they informed me that it is mainly because they spend very little money on advertising.

I can't make any comments in regards to entries and exits because I am not yet day trading. I am in the information gathering stages and am attempting to get feedback on trading costs and realistic expectations. I have been investing/trading for 13 years, but my average trade duration ranges from 1 week to 6 months. I have developed several profitable strategies that usually consist of a combination of both stock and option positions. Unfortunately, these strategies don't generate a lot of trading candidates during the year. Day trading is going to require that I develop additional new strategies. I have spent a consider amount of time over the last 5 weeks trying to read all of the threads on SI regarding day trading. The only remaining thread I haven't read is 'Momentum Daytrading - Tricks of the Trade'. I expect to knock that one off over the next couple of days. I have also read over 30 books on trading and I just finished reading 'The Electronic Day Trader' and 'Daytrading into the Millennium'. I have ordered 'The Underground Level 2 Daytrader's Handbook' and 'Stock Patterns for Day Trading', they should be showing up any day. As soon as I've done all of my homework I will then develop strategies that I think will work for me. I expect to spend at least another 6 weeks of effort before I will begin day trading.

Regards,

Dave
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