| |
funk,
Thanks a lot for the kind words. I guess I was trying to emphasize to a prospective new daytrader that it isn't as easy as it would seem.
Your comment, "when in doubt, bet small" is right on, in my opinion, as I find I like fast-moving, volatile stocks. I like quick spurts of momentum, and cannot sit and watch a stock go nowhere for a long time, then down the toilet. So, I play the fastest stocks, but only smaller shares. I find less stress and pressure and can withstand a slightly blown stop, but enjoy making sometimes 3-10 points in just a minute or two or three. Sometimes, the most expensive stocks (which I used to avoid) seem to work out the best. Easy to get in and out (via ISLD) and lots of good movement. With small shares, as you say, the ones that get me don't get me for too much. So, I like 'em.
I also very much like your comment "I am only as good as my next trade." I think a modest daytrader is a good daytrader. No matter how good we get, we're still all vulnerable to an occasional clobbering in the market. Probably best to keep that in mind.
I also agree with your comment here recently about the benefit of potential added liquidity with changes in the TNTO ECN. Did you expect to see those changes and benefits affect only TNTO and M.B. traders, or us folks too? I hope to see some benefits of that in my trading soon.
And good luck to you in '99 also!
Bill
|
|
