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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: JIM WALTON who wrote (1664)11/26/1998 8:07:00 PM
From: Logistics  Read Replies (1) of 2120
 
Daytrading:

90% of men fail in the first six months.
Woman are a bit more successful - not sure of the reason.

I was a teacher before I started to trade so I had two entire summers to see if I could be successful. Fortunately it worked out for me. I lost 80% of my capital in the first two months and then things turned in my favor.

I gave up a 29K a year job so my risk was not as great as yours may be. I have earned enough this year to cover at least five years of teaching.

I spend 12 hours a day on the computer. It is difficult to succeed doing this only 8 hours a day.

The hardest part of trading is taking the "emotions" out of it. Once you do this your odds for success increase dramatically. I learned this the hard way.

I suggest you daytrade every day that you have off from work - holidays, vacations etc.... and see how you do. It is very stressful to trade when you know your livelihood is dependent on it. Be sure first.

JL
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