Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: kidl who wrote (36)	11/20/1998 10:37:00 PM
From: the Chief	Read Replies (2) of 62348

I'm really not sure. A true daytrader works this job 10 hours a day Mon-Fri! Sat/Sun he reads till he drops!! So I would suppose the present majority would be early retired boomers. I never execute a daytrade using anymore than 25% of my portfolio which is 25% of my networth. To go 25% you must be in blue-chip...banks/financials/gold etc. etc. Stocks like "BII" I risk between 1&2% If you risk more than that you can be out of this business quickly!! Although I must admit I enjoy the adrenalin of a flyer lke BII more than I do CM/RY/NNC/BBD.B etc etc. The idea is to make a little bit of money on a lot of trades...not one big whack in one trade...you won't last if you try the big "zinger"!!! Percentage of portfolio division is based on what you are "working". If you play with $10,000 you obviously can't use 2% of your portfolio to do a risky trade...but you must produce a well balanced percentage that truly represenets your "gambling money"!!! I started with $6,000 and played penny stocks...but! I was playing the pennies in an 8 year bull market..which can always be confused with "knowing what you are doing"!!! Pennies are tougher now, so you have to work harder to make the same money. The trading systems in Canada are the shits and trading execution times border on absurd! However tenacity does pay off!! the Chief

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