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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: the Chief who wrote (46)11/21/1998 12:35:00 AM
From: keith massey  Read Replies (1) of 62348
 
As was Keith's......now if TD opens up at $42.00 tomorrow because they were found out to be fully exposed to Livent...Keith will have to explain why he didn't sell!!<gggg> Its sort of like "Eating Crow in a public forum hahahahahah

If TD opens at $42 on Monday I won't be eating crow I will be downing Jack Daniels. I am going to suggest that holding overnight not be dropped from discussion. I know we had this discussion before on the other thread but I firmly believe that in some cases the not holding overnight rule should be broken. Yes it does add some risk to the equation but when played proper I think the potential gain far outways the risk. Sure overnight news can hurt you but when you are buying on news another news release after the market close is very very rare. I am going to offer TD up as a good example of this. I will sell on Monday morning no matter what. I am hoping it gaps ups and runs for a couple of minutes. If it opens down I am out right away. If it opens way down my stop will get hit.

Someone asked about the average age of a daytrader. In the U.S there are a lot 18-21 year olds using daddy's money to play the market like a video game. In Canada I have not talked to many people under 24 playing and day trading the market seriously. Two of the major problems.

1. It takes a lot of time to learn about the financial markets, trading systems, accounting, etc., etc.,

2. It takes a lot of time to save enough money to day trade with. There are not many people under 25 with saving accounts over $25,000.

Most of the serious day traders I have met on the threads are in the 25-55 range.

Best Regards
KEITH
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